Sinclair Broadcast Group acquires Tribune Media

Sinclair Broadcast Group acquires Tribune Media
Posted at 8:14 AM, May 08, 2017
and last updated 2017-05-08 09:46:14-04

Sinclair Broadcast Group announced today it has reached a deal to acquire Tribune Media for $3.9 billion.

The two groups combining will mean the company reaches more households than previously allowed by a 2016 law recently reversed by the FCC that said media companies could only serve 39 percent of U.S. television households.

Sinclair provides services to 173 television stations in mid-sized markets, and Tribune Media has 42 broadcast stations in mid-sized and large markets. The deal will make the company the most powerful TV station owner in the United States.

Reports indicate Sinclair will purchase Tribune for $43.50 per share