$3.9 billion gives America its biggest group of local TV stations as Fox doesn't bid
By Noel Young
Sinclair Broadcast Group is buying Tribune Media Co. for about $3.9 billion, it was announced today.
The deal was made possible, Bloomberg reported, after the Federal Communications Commission voted last month to ease a limit on TV-station ownership in the U.S.
The deal will put together America’s largest TV network.Sinclair Broadcast Group beat 21st Century Fox to land the deal.
Sinclair already has 173 local news stations. Tribune has 42. Their combined operations will create the largest-single group of local TV stations.
In 2014 Tribune spun off its newspaper businesses , including the Chicago Tribune and Read full story ›
Source: The Drum
