Sinclair Continues to Seek FCC Approval of Its Deal to Buy Tribune
Sinclair (SBGI) - Get Sinclair Broadcast Group, Inc. Class A Report continues to seek Federal Communications Commission approval of its deal to buy Tribune Media (TRCO) - Get Tribune Media Co. Class A Report for $3.9 billion. The FCC is on day 77 of its informal 180-day review of the acquisition.
Per the Communications Act of 1934, the FCC has the right to amend the deal if it is seen to counter public interest.
Sinclair owns 173 television stations in small and medium sized markets. Its purchase of Tribune will give it another 43 television stations, some of which are in major markets including Los Angeles and New York.
That addition would also mean that Sinclair would increase its coverage area to roughly 45 percent.
TheStreet Recommends
Will the FCC under Ajit Pai allow the deal to go through or will Sinclair have to divest some of its stations to stand up to scrutiny?
Stick with TheStreet as Sinclair's quest to become the nation's largest television station owner continues.
Watch More with TheStreet:
- Jim Cramer Reveals Why He Sold Western Digital for His Charitable Trust
- 5 of the Worst Recent Cyberattacks
- Here's Why the S&P 500 Could Be Headed to 2,700 by Year's End
- 5 Insane McDonald's Meals You Can Only Try Abroad
This article was written by a staff member of TheStreet.
