Sinclair Broadcast announced on Monday that it has agreed to buy Tribune Media for about $3.9 billion.
Tribune operates 42 TV stations including the cable network WGN America and several CBS, ABC, and Fox affiliates. It also has minority stakes in the Food Network and the website CareerBuilder. Sinclair is one of the largest operators of local TV news stations in the US.
Sinclair is buying 100% of Tribune’s outstanding shares for $43.50 per share, for an aggregate price of about $3.9 billion. The amount includes about $2.7 billion in net debt.
The companies expect the deal to close in the fourth quarter of 2017.
Full Content: Business Insider
Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.
Featured News
T-Mobile Faces Class-Action Lawsuit Over Sprint Merger After Appeal Denied
May 16, 2024 by
CPI
Google Faces Backlash Over Introduction of AI-Generated Summaries in Searches
May 16, 2024 by
CPI
CMA Launches Phase 2 Probe into AlphaTheta’s Acquisition of Serato
May 16, 2024 by
CPI
NFL Executive Escapes Testifying in High-Stakes Trial Over Televised Games
May 16, 2024 by
CPI
EU Consumers Lodge Complaint Against Chinese Retailer Temu Over Content Rules Breach
May 16, 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