Earlier this year it was announced that Sinclair Broadcast Company had a deal to buy Tribune Media for $3.9 billion. Now it looks like is close to getting approval after Sinclair has agreed to sell off some of the stations.
According to The New York Post, the DOJ is asking Sinclair to sell 13 Tribune stations in order to get approval for the deal. Sinclair is reportedly working on getting that number down to 10. Even if Sinclair sells off 13 Tribune stations they would still be the largest owner of television stations in the US after they buy 42 television stations in 33 markets. Yet depending on what stations are sold, it could reduce the control Sinclair has in any one market. The deal will also give Sinclair ownership of the cable network WGN America, Antenna TV, and a minority stake in the Food Network.
Recent reports state that Sinclair still feels confident that the deal will close and the DOJ will approve the deal after the number stations to be sold is worked out. During last month’s NAB Show in New York, Sinclair CEO Christopher Ripley told an audience it was a matter of when, not if, the deal will be approved.
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