Sunday, May 7, 2017
NEWS: SINCLAIR BROADCAST INC. WINS SWEEPSTAKES FOR TRIBUNE MEDIA CO.
Sinclair Broadcast Group Inc. appears to have won the sweepstakes for Chicago-based Tribune Media Co., according to a published report. Sinclair would pay about $45 a share for Tribune Media, Bloomberg reported Sunday. Tribune Media shares closed Friday at $40.29. The deal, which could be announced Monday, was made possible by the Federal Communications Commission voting to ease limits on TV station ownership, Bloomberg said. Tribune Media has 42 TV stations and WGN radio, and reaches more than 43 percent of the nation.