Sinclair Broadcast Group $3.9 billion acquisition of Tribune Media

Overview:

• Sinclair Broadcast Group has acquired Tribune Media for $3.9 billion.
• The deal comes in the wake of a 2016 Federal Communications Commission decision repealed certain limits on how many stations a broadcaster can own.
• Sinclair paid $43.50 per Tribune share.
• The two companies were already among the largest broadcasters in the US before the deal.
• JPMorgan Securities acted as financial adviser for Sinclair and Guggenheim Securities acted for Tribune.
• The transaction is expected to close in the fourth quarter of 2017.

Kurt Stumpo - Journalist