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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


R.I.P. Vinnie Paul Abbott (March 11, 1964 – June 22, 2018)

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.


Go Pistons, Let's Go Redwings.

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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.


Go Pistons, Let's Go Redwings.

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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.


R.I.P. Vinnie Paul Abbott (March 11, 1964 – June 22, 2018)

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