Deals
Sinclair Gobbles Up Tribune in First Big Media Deal of Trump Era
- Acquisition includes local TV stations in New York, Chicago
- 21st Century Fox, Nexstar had been said to plan offers
Sinclair Acquiring Tribune in $3.9 Billion Media Deal
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Sinclair Broadcast Group Inc.’s $3.9 billion deal to acquire Tribune Media Co. marks the first in what’s expected to be a frenzy of media and telecom dealmaking under the looser regulatory climate of the Trump administration.
The deal, unthinkable in the Obama era, was made possible by a rule change under Ajit Pai, the newly installed chief of the U.S. Federal Communications Commission. The new broadcasting behemoth will have greater bargaining power over pay-TV distributors like Comcast Corp. and major broadcast networks like 21st Century Fox Inc., as well as the size to face down online competitors vying for a piece of the local advertising pie.