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Stunner!!! FCC puts the brakes on Tribune's sale to Sinclair!

Discussion pertaining to Grand Rapids, Kalamazoo, Muskegon, Battle Creek, Big Rapids, and Michiana
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MWmetalhead
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Stunner!!! FCC puts the brakes on Tribune's sale to Sinclair!

Post by MWmetalhead » Tue Jul 17, 2018 9:58 pm

It is very possible now that Sinclair's acquisition of Tribune will not move forward after all!

It appears significant modifications to the proposed divestitures will be necessary to preserve the transaction.

https://www.politico.com/story/2018/07/ ... oom-722423


Radio's downfall has been under-investing in its core competency and becoming distracted by delusions of grandeur by thinking development of a half-assed national digital strategy will somehow put it on par with the Facebooks and Googles of the world.

organman95
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Re: Stunner!!! FCC puts the brakes on Tribune's sale to Sinclair!

Post by organman95 » Wed Jul 18, 2018 9:52 am

About time the FCC said "NO" to Sinclair...



MasterB
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Re: Stunner!!! FCC puts the brakes on Tribune's sale to Sinclair!

Post by MasterB » Thu Jul 19, 2018 6:29 pm

Tribune will be sold piecemeal just my opinion. I could see Tribune selling some stations to Standard Media with WXMI Fox17 Fox O&O's will get Seattle station if that is the only station they get all depends on UHF discount decision that could come any day now sometime in Aug I think.


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TC Talks
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Re: Stunner!!! FCC puts the brakes on Tribune's sale to Sinclair!

Post by TC Talks » Fri Jul 20, 2018 8:30 am



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ChrisKun2K5
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Re: Stunner!!! FCC puts the brakes on Tribune's sale to Sinclair!

Post by ChrisKun2K5 » Thu Aug 09, 2018 4:31 pm

And the plot thickens... not only is the deal officially off, but Tribune is suing Sinclair for breach of contract.

https://www.allaccess.com/net-news/arch ... -suing-sin



MasterB
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Re: Stunner!!! FCC puts the brakes on Tribune's sale to Sinclair!

Post by MasterB » Thu Aug 09, 2018 7:31 pm

Not surprise that Tribune walked away from the merger.


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MWmetalhead
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Re: Stunner!!! FCC puts the brakes on Tribune's sale to Sinclair!

Post by MWmetalhead » Thu Aug 09, 2018 9:17 pm

Tribune's law suit certainly has some merit. It is far from bullet proof, but they make a compelling argument. I'm guessing all Tribune wants is reimbursement of its out-of-pocket costs. Also, if there is a breakup fee included in the Merger Agreement, Tribune may preemptively be trying to get out of having to pay that to Sinclair.

Sinclair's defense will be that is proceeded in a fashion no different than previous (albeit smaller) transactions that the FCC approved when it was under different leadership. Basically, their defense will be that the FCC didn't follow established precedent with regard to its view of the proposed divestitures to Cunningham Broadcasting, et al. Sinclair will likely also argue that it entered into agreements with true arms length third parties (such as Standard Media and Meredith) to sell substantial assets.


Radio's downfall has been under-investing in its core competency and becoming distracted by delusions of grandeur by thinking development of a half-assed national digital strategy will somehow put it on par with the Facebooks and Googles of the world.

MasterB
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Re: Stunner!!! FCC puts the brakes on Tribune's sale to Sinclair!

Post by MasterB » Tue Aug 21, 2018 10:50 pm

From the New York Post Nexstar is interested in buying Tribune they did beat Sinclair 2 out of 3 times in the bidding war before Sinclair won. I always believed that Nexstar would have sold the stations they needed to get the merger done they didn't do the shell game when they bought Media General a couple of years ago sold the 9 stations, guessing there is a lot of overlap station if Nexstar does buy Tribune whole?


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MWmetalhead
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Re: Stunner!!! FCC puts the brakes on Tribune's sale to Sinclair!

Post by MWmetalhead » Wed Aug 22, 2018 8:49 pm

Good find!!! Thanks for sharing that info.

I'm with you. Nexstar will likely run into overlap issues comparable to those incurred by Sinclair.

I do agree with you that Nexstar will probably not be as inclined to use smoke & mirrors from a divestiture standpoint. Who would be the likely recipients of the divested stations? My guess is Standard Media would be at or near the front of the pack.

Gray / Raycom and Meredith would certainly be on the short list, too.

Might Fox Television Stations, Inc. pick off a few stations? Possibly.

Hearst likes ABC and NBC stations, and Tribune owns very few of those. Can probably count them out unless Nexstar is willing to part with a few of its existing stations.


Radio's downfall has been under-investing in its core competency and becoming distracted by delusions of grandeur by thinking development of a half-assed national digital strategy will somehow put it on par with the Facebooks and Googles of the world.

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Re: Stunner!!! FCC puts the brakes on Tribune's sale to Sinclair!

Post by Calvert DeForest » Thu Aug 23, 2018 9:15 am

Man, I'm just catching up on this. Shows ya how much I pay attention. :razz

I wondered how David Smith and company were going to push this through with all the dummy corporations in the mix, and now we know. I remember reading that one of the station groups was to be spun off to his deceased mother's estate. I've heard of estates holding broadcast properties after the owner dies, but this was the first time I ever heard of someone acquiring a license after they're dead. And a car dealer in Maryland owning WGN-TV? You can't make this stuff up!

Smith's desire to have his cake and eat it too is one thing. What gets me is the blatant transparency with which he tried to pull this off. He obviously believed he had the Commission in his back pocket (and to be honest, I thought so too), but apparently he pushed things to a limit that even the FCC couldn't go along with. I think the Commission would have looked foolish had they let the acquisition proceed with all the glaring loopholes.


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NewzKiller
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Re: Stunner!!! FCC puts the brakes on Tribune's sale to Sinclair!

Post by NewzKiller » Fri Aug 24, 2018 11:14 am

Just take one look at Nexstar BOD and you'll see Dennis Fitzsimons former CEO of Tribune.



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