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takyon writes:

http://www.reuters.com/article/us-tribune-media-m-a-sinclair-idUSKBN1841HR

U.S. broadcaster Sinclair Broadcast Group Inc said on Monday it would buy Tribune Media Co, one of the largest U.S. television station operators, for about $3.9 billion cash and stock, and assume about $2.7 billion in debt.

[...] The announcement of the deal comes weeks after the U.S. Federal Communications Commission voted to reverse a 2016 decision that limits broadcasters owning stations serving no more than 39 percent of U.S. television households.

A combined Tribune and Sinclair could surpass this cap and face some regulatory challenges which could result in divestitures, analysts said.

Tribune Media. The newspaper assets were spun off years ago into Tribune Publishing, aka Tronc.

Sinclair Broadcast Group.

Related: Gannett Ends Pursuit of Rival Newspaper Publisher Tronc

Original Submission

Broadcasting and Cable reports that the FCC has voted to eliminate "the almost eight-decade old requirement that broadcasters, radio and TV, maintain a main studio in or near their community of license." The National Association of Broadcasters expressed support for the change, saying the rule "has outlived its usefulness in an era of mobile news gathering and multiple content delivery platforms."

FCC Commissioner Mignon Clyburn opposed the move, saying it signified "embracing a world in which automated national programming is the new normal." Other critics saw the vote as easing the way for a Sinclair–Tribune merger.

Further reading: statement of Ajit Pai (PDF)

Original Submission

mechanicjay writes:

https://motherboard.vice.com/en_us/article/mb53jn/fcc-inspector-general-investigation-ajit-pai-corruption

FCC boss Ajit Pai is being investigated by his own agency over potential corruption allegations.

The already-unpopular agency boss has been on a tear in recent months gutting decades old media-consolidation rules designed to protect consumers and the nation's media markets from any one broadcaster becoming too powerful.

Pai's efforts arrived, not coincidentally, at the same time Sinclair Broadcasting Group is attempting to acquire Tribune Media as part of a $3.9 billion dollar megamerger. It's a deal a bipartisan chorus of critics say would demolish media diversity, resulting in Sinclair owning more than 230 local stations across 72 percent of the United States.

Given criticism of Sinclair for its often distorted and inaccurate news reporting, consumer advocates say the deal would have a profoundly negative impact on the quality and diversity of media discourse, as well as already dwindling competition in the space.

Without Pai's assistance on this front, the Sinclair merger would have been impossible.

Now the New York Times indicates that the FCC's Inspector General has launched an investigation into whether Pai acted inappropriately as he rushed to dismantle media consolidation rules.

Also at CNN, Gizmodo and The Verge.

Original Submission

canopic jug writes:

The Hill reports that the FCC will take public comments on Sinclair-Tribune merger until July 12^th of this year. Sinclair stations currently reach 40% of US households and with the merger that would increase to 72%.

The Federal Communications Commission (FCC) will take new comments from the public on Sinclair Broadcast Group’s $3.9 billion bid for Tribune Media.

The agency is reopening its review of the merger for public comments after the two companies proposed to sell off some local stations in an effort to bring the deal in line with media ownership restrictions.

The public will have until July 12 to weigh in on the docket.

Also at Reuters: FCC seeks new comments on proposed Sinclair Tribune merger.

Earlier on SN: Sinclair Broadcast Group to Buy Indebted Tribune Media for $3.9 Billion (2017)

Original Submission

An Anonymous Coward writes:

Deadline reports:

FCC Chairman Ajit Pai [...] defended his decision to refer Sinclair Broadcast Group's proposed $3.9 billion acquisition of Tribune Media to an administrative law judge for review.

[...] Central to the review is how Sinclair presented its plans to divest stations in Chicago, Dallas and Houston in order [to] gain regulatory approval. Those so-called "sidecar" deals could enable Sinclair to effectively continue operating the stations, Pai [link removed] said, in violation of federal rules.

An Anonymous Coward writes:

The Washington Post (archive link) reports:

President Trump came to the defense of Sinclair Broadcast Group's proposed merger with Tribune Media, days after the Federal Communications Commission raised "serious concerns" about the deal and began legal proceedings to challenge it on grounds the companies had misled regulators.

Trump said Tuesday that it was "So sad and unfair" that the FCC, an independent agency, did not approve the merger, a $3.9 billion transaction that would create a conservative television giant that originally hoped to reach roughly 70 percent of U.S. households.

In his tweet, the president stressed how the deal would provide a "conservative voice for and of the People," though politics are not supposed to factor into merger considerations.

"Liberal Fake News NBC and Comcast gets approved, much bigger, but not Sinclair. Disgraceful!" the president tweeted.

Original Submission

takyon writes:

Nexstar buys Tribune in $4.1 billion deal

Nexstar Media Group announced Monday it will buy Tribune's 42 television stations and cable network in an all-cash $4.1 billion deal. The merger will form the nation's largest TV station company. Tribune's stock (TRCO) is surging 10% in premarket trading.

[...] The sheer size of Nexstar will massively enlarge the Texas-based media company. If approved, the combined company will own more than 200 TV stations and cover 39% of US households.

Nexstar will now gain a foothold in major markets, including New York, Los Angeles and Chicago for the first time, plus a cable channel (WGN America) and a 31% stake in the Food Network.

Also at BBC and The Verge.

See also: ACA: Without Conditions, Nexstar-Tribune Should Be Nixed
Nexstar, Tribune TV deal poses test for Trump regulators
Nexstar Attracts Interest for Stations Sale That's Part of Tribune Deal

Previously: FCC Reopens its Review, Solicits Public Comments on Sinclair-Tribune Merger Until 2018-07-12
FCC Chairman Defends Decision to Refer Sinclair-Tribune Deal to Administrative Law Judge
Trump Criticizes FCC for Moving to Block Sinclair-Tribune Merger
Tribune Media Withdraws from Sinclair Merger; Sues for $1 Billion

Original Submission