The Sinclair Broadcast Group has taken bids for up to 10 of its stations (up to US$1 billion worth) as it looks to solidify approval for its US$3.9 billion acquisition of Tribune Media, Bloomberg reported on Tuesday, October 17.
Preliminary bids for the stations were submitted last week, said one of Bloomberg’s sources, who asked not to be identified because the process wasn’t public. Sinclair may sell some or all of the outlets, all in different markets, the people said.
According to Bloomberg, the process is private, but preliminary bids came in last week. Station divestments are surely coming as part of FCC approvals, since overlaps in the two companies would put the combination about six points over the maximum allowed reach of 39% of US television homes.
Sinclair, based in Hunt Valley, Maryland, wants to buy stations in 33 markets from Chicago-based Tribune. The company would have 233 stations, with a presence in 39 of the top 50 markets, according to a Sinclair presentation to investors that calls the resulting combination “the largest broadcasting group.”
Full Content: Bloomberg
Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.
Featured News
Former Sales Pro Admits to Bid Rigging Targeting US Schools
May 13, 2024 by
CPI
Macron Advocates EU Financial Integration Amid Push for Global Competitiveness
May 13, 2024 by
CPI
Microsoft Faces EU Antitrust Charges Over Teams Software
May 13, 2024 by
CPI
EU Antitrust Complaint Filed Against Edwards Lifesciences by Indian Rival Meril
May 13, 2024 by
CPI
South Korea’s Antitrust Watchdog Partners with AliExpress and Temu to Address Safety Concerns
May 13, 2024 by
CPI
Antitrust Mix by CPI
Antitrust Chronicle® – Ecosystems
May 9, 2024 by
CPI
Mapping Antitrust onto Digital Ecosystems
May 9, 2024 by
CPI
Ecosystems and Competition Law: A Law and Political Economy Approach
May 9, 2024 by
CPI
Ecosystem Theories of Harm: What is Beyond the Buzzword?
May 9, 2024 by
CPI
Open Ecosystems: Benefits, Challenges, and Implications for Antitrust
May 9, 2024 by
CPI