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Tribune announced its withdrawal from the $3.9 billion transaction in a[n] emailed statement Thursday. Tribune said it has filed a lawsuit in the Delaware Chancery Court against Sinclair seeking compensation for losses incurred as a result of "Sinclair's material breaches" of the merger agreement.
[...] The FCC order asked whether Sinclair was in fact the hidden buyer in a proposal to sell Chicago's WGN-TV to a Maryland automobile executive with no prior broadcast experience, and ties to Sinclair management. The agency also questioned links between the Maryland-based broadcaster and a buyer proposed for stations in Dallas and Houston.
Tribune Media released details of its lawsuit against Sinclair Broadcast Group. saying it is seeking $1 billion from the local TV station owner due to its "belligerent and unnecessarily protracted negotiations" with regulators, which it says doomed the $3.9 billion deal.
Link to Tribune Media's complaint (PDF)
Also at: Reuters, Los Angeles Times (archive link for readers in the EU), Baltimore Sun (archive link for readers in the EU), Media Matters and CNBC
Previously:
Trump Criticizes FCC for Moving to Block Sinclair-Tribune Merger
FCC Chairman Defends Decision to Refer Sinclair-Tribune Deal to Administrative Law Judge
FCC Reopens its Review, Solicits Public Comments on Sinclair-Tribune Merger Until 2018-07-12
FCC Investigates Ajit Pai Over Corruption
FCC to Drop Main Studio Rule
Sinclair Broadcast Group to Buy Indebted Tribune Media for $3.9 Billion
(Score: 2, Offtopic) by realDonaldTrump on Friday August 10 2018, @05:35PM (2 children)
Terrible terrible news. But I don't blame Tribune, I blame FCC. So sad & unfair that the FCC killed the Sinclair Broadcast merger with Tribune Media. They absolutely killed it. Would have been a TERRIFIC conservative voice or and of the People. Liberal Fake News NBC and Comcast gets approved, much bigger, but not Sinclair. Fake News Networks, among the most dishonest groups of people I have ever dealt with, criticize Sinclair Broadcasting for being biased. Sinclair is far superior to CNN and even more Fake NBC, which is a total joke. The Fake News Networks, those that knowingly have a sick and biased AGENDA, are worried about the competition and quality of Sinclair Broadcast. The “Fakers” at CNN, NBC, ABC & CBS have done so much dishonest reporting that they should only be allowed to get awards for fiction! Check out the fact that you can’t get a job at ratings challenged @CNN [twitter.com] unless you state that you are totally anti-Trump? Little Jeff Zuker, whose job is in jeopardy, is not having much fun lately. Jeff Zucker, I hear he's going to resign at some point pretty soon. They should clean up and strengthen CNN and get back to honest reporting!
DISGRACEFUL!!!!
(Score: 2) by DeathMonkey on Friday August 10 2018, @05:40PM (1 child)
Looks like another of your appointees turned out to be a deep state operative with a time machine!
(Score: 2, Offtopic) by realDonaldTrump on Friday August 10 2018, @06:02PM
Horrible and very 'cowardly' way to stop the merger. Ajit didn't tell them "no," he sent them to a Judge. So they could spend YEARS in Court. Pathetic! He didn't tell me he would do this. Absolutely did not tell me, not the tiniest hint. People tell me he's Indian. Indian American. Well, he doesn't look Indian to me. But can we call him Chief Two Face? Why not!!!