Deals

Tribune Files $1 Billion Suit Against Sinclair, Scraps Deal

Merger drew ire from FCC, which questioned Sinclair’s candor
Sinclair proposed $3.9 billion deal for Tribune last year

Barton Crockett, analyst at FBR Capital Markets, says Tribune is "throwing in the towel."Markets: The Open." (Source: Bloomberg)

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By Todd Shields, Gerry Smith, and David McLaughlin

August 9, 2018 at 10:42 AM UTC

Updated on

August 9, 2018 at 5:16 PM UTC

This article is for subscribers only.

Sinclair Broadcast Group Inc. saw its bid to become a nationwide powerhouse collapse after its would-be partner, Tribune Media Co., withdrew from a planned $3.9 billion merger that drew the ire of regulators.

Tribune blamed Sinclair and filed a $1 billion lawsuit that claimed the broadcaster “engaged in belligerent and unnecessarily protracted negotiations” with antitrust officials and with the FCC. The blow sent Sinclair’s shares tumbling as much as 5.4 percent.