By Josh Kosman
Getty Images
Sinclair Broadcasting is close to accepting a remedy proposed by President Trump’s Department of Justice to allow its $6.6 billion buyout of Tribune Media to gain regulatory approval, The Post has learned.
The feds want Sinclair, whose 193 TV stations spread over 89 markets makes it the largest TV station owner in the country, to sell 13 Tribune stations, sources said.
Previously, Sinclair had been trying to persuade the antitrust poobahs to expand the definition of market share from just TV broadcast advertising to both cable and broadcast advertising.
Under an expanded view, Sinclair felt it wouldn’t have to sell any of the 42 Tribune stations it was buying. That argument was not successful.
AT&T, by contrast, is fighting Uncle Sam’s reported request to sell some of Time Warner’s networks — like CNN — to get its $85 billion deal done.
AT&T and the feds are now battling it out in court.
Sinclair believes its biggest regulatory hurdle in buying Tribune Media is at the Justice Dept. and not the Federal Communications Commission, sources said.
“Sinclair has sale books out and has bids in for Tribune stations” it might need to sell, a source said, “and is just waiting for government direction.”
Nexstar Media Group, Tegna (formerly Gannett) and Meredith have all made offers, a source said.
Sinclair expects the Tribune Media deal to close in the middle of the first quarter, a source said
The feds want Sinclair, whose 193 TV stations spread over 89 markets makes it the largest TV station owner in the country, to sell 13 Tribune stations, sources said.
Previously, Sinclair had been trying to persuade the antitrust poobahs to expand the definition of market share from just TV broadcast advertising to both cable and broadcast advertising.
Under an expanded view, Sinclair felt it wouldn’t have to sell any of the 42 Tribune stations it was buying. That argument was not successful.
AT&T, by contrast, is fighting Uncle Sam’s reported request to sell some of Time Warner’s networks — like CNN — to get its $85 billion deal done.
AT&T and the feds are now battling it out in court.
Sinclair believes its biggest regulatory hurdle in buying Tribune Media is at the Justice Dept. and not the Federal Communications Commission, sources said.
“Sinclair has sale books out and has bids in for Tribune stations” it might need to sell, a source said, “and is just waiting for government direction.”
Nexstar Media Group, Tegna (formerly Gannett) and Meredith have all made offers, a source said.
Sinclair expects the Tribune Media deal to close in the middle of the first quarter, a source said
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