Tribune Media Terminates $3.9B Sinclair Deal, Files Lawsuit
This is some good news - Sinclair is the news conglomerate that you might recognize for having stations it owns read the same right leaning scripts to viewers. The most infamous one talked of fake news and implied that all other stations but Sinclair lie. That’s essentially the right leaning Trump message. Get the news from me, everyone else lies - it’s a cult leader approach to news that US media does not need.
Sinclair Broadcast Group’s $3.9 billion takeover of Tribune Media, which would have created a local TV giant reaching nearly two-thirds of U.S. TV households, is dead.
Tribune Media made the announcement early Thursday, with analysts expecting that it will now look for a different buyer for its 42 TV stations, network WGN America and other assets. The news comes after a series of developments that cast doubt over the transaction, which had been unveiled 15 months ago.
Tribune said that it “has terminated its merger agreement with Sinclair Broadcast Group Inc. and that it has filed a lawsuit in the Delaware Chancery Court against Sinclair for breach of contract.” It added: “The lawsuit seeks compensation for all losses incurred as a result of Sinclair’s material breaches of the merger agreement.”