Sinclair Broadcast Group to Acquire Tribune Media Company

Maryland-based Sinclair Broadcast Group announced it will acquire the Tribune Media Company, which owns 42 television stations across 33 markets. Chicago-based Tribune also owns cable network WGN America, digital multicast network Antenna TV, and holds minority stakes in Food Network and CareerBuilder. Sinclair has agreed to pay $3.9 billion for Tribune ($43.50 per share), plus the assumption of $2.7 billion in debt. According to the Chicago Tribune, “The combined company will become a TV broadcasting behemoth, owning and operating 233 television stations in 108 markets, pending any required divestitures by the FCC.”


No Comments Yet

You can be the first to comment!

Sorry, comments for this entry are closed at this time.