Deals
Sinclair and Tribune Fall as FCC Slams TV Station Sale Plan
- FCC chief said to cite lack of candor for questioning spinoffs
- Sinclair wants to buy Tribune TV stations in $3.9 billion deal
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U.S. Federal Communications Commission Chairman Ajit Pai questioned the legality of a controversial plan by Sinclair Broadcast Group Inc. to sell TV stations in order to meet ownership limits as it buys Tribune Media Co., dealing a blow to their planned $3.9 billion merger.
“I have serious concerns about the Sinclair/Tribune transaction,” Pai said in a tweet. He proposed sending the question to an administrative hearing judge, something that can delay or even kill a deal.