Deals
Sinclair’s Plan to Sell But Still Run Tribune TV Stations Draws Criticism
- FCC reviewing proposal aimed at winning Tribune deal approval
- Sinclair would operate WPIX and WGN even after selling them
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Sinclair Broadcast Group Inc.’s proposal to sell but still operate TV stations in New York, Chicago and other cities to win regulatory approval of its $3.9 billion purchase of Tribune Media Co. drew derision from critics of media consolidation Thursday.
Sinclair said it would sell stations including WPIX in New York and WGN in Chicago, then operate them in agreement with new owners it didn’t identify, according to a company filing Wednesday. The maneuver would help Sinclair, which would grow to more than 200 stations, keep from exceeding a national media ownership cap by knocking two big cities out of the calculation.