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FCC Probes Sinclair Over Tribune Media Bid

Topics of general interest that just don't fit anywhere else.
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moldyoldie
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FCC Probes Sinclair Over Tribune Media Bid

Post by moldyoldie » Thu Jun 27, 2019 3:04 pm

FCC probes Sinclair over Tribune Media bid

The following in particular has always left me flummoxed as to how it can be so methodically allowed by the FCC in so many similar instances. I'm sure many of the broadcasting insiders here have examples.
The MarketWatch article wrote:In the letter, the FCC said it is investigating whether Sinclair's proposed plans to spin off stations to comply with FCC regulations and receive approval of the Tribune deal would have in fact left the broadcaster in de facto control of the stations.

A spokesman for Sinclair didn't immediately respond to requests for comment Wednesday. Sinclair previously said its spinoff plans were "consistent with structures that Sinclair and many other broadcasters have utilized for many years with the full approval of the FCC."

[*** *** ***]

One such transaction involved Tribune's WGN-TV Chicago, which Sinclair said it would sell to car-dealership operator Steven Fader for $60 million. Not only was that price considered far below the station's value by industry analysts, but Sinclair Chairman David Smith sits on the board of a car-dealership concern where Mr. Fader is chief executive.

In its letter to Sinclair, the FCC said it wants all the details on how Sinclair came up with the $60 million valuation as well as all discussions the company had with Mr. Fader regarding who would control the programming, personnel and finances of the station. Mr. Fader couldn't be reached for comment.

The FCC wants similar details about Sinclair's proposed plans to transfer TV stations in Dallas and Houston to Cunningham Broadcasting, which is run by the estate of [Sinclair Chairman David Smith's] mother, Carolyn Smith.


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MasterB
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Re: FCC Probes Sinclair Over Tribune Media Bid

Post by MasterB » Thu Jun 27, 2019 9:49 pm

I see a major fine for Sinclair and also a major scolding as well I don't see them losing their license thou. Yeah, the car dealership was shady along with selling WPIX for $15 Million to Cunningham as well Sinclair wanted to keep everything which smaller to midsize markets is fine but major cities not so much. Sinclair is the poster child on how not to do a merger as big as Tribune was for them and how they got nothing and are now in limbo on buying any more national TV station groups, this more has to do with the renewal of some TV licenses in 2020 why the FCC is probing Sinclair now.


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organman95
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Re: FCC Probes Sinclair Over Tribune Media Bid

Post by organman95 » Tue Jul 02, 2019 12:58 pm

'bout damn time! Sinclair (and some others) have been getting away with this for far too long. Maybe there will be actual break-ups of stations from Sinclair, meaning their "spin-offs" become their own, without any interference from Sinclair



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Ed Joseph
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Re: FCC Probes Sinclair Over Tribune Media Bid

Post by Ed Joseph » Tue Jul 02, 2019 4:00 pm

MasterB wrote:
Thu Jun 27, 2019 9:49 pm
Sinclair is the poster child on how not to do a merger...
Sinclair is the poster child on how not to do television, as well.


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F-Squared
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Re: FCC Probes Sinclair Over Tribune Media Bid

Post by F-Squared » Thu Jul 18, 2019 7:55 pm


Ed Joseph wrote: Sinclair is the poster child on how not to do television, as well.
Damn right! I'm tired of seeing them get away with the stuff they have been. I really hope they get some sort of justice.



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