Sinclair Broadcast Group Acquires Tribune Media for $3.9 Billion
Completion of the transaction is subject to approval by Tribune’s stockholders, as well as customary closing conditions, including approval by the Federal Communications Commission (FCC), and antitrust clearance.
The acquisition will enable Sinclair to build ATSC 3.0 (Next Generation Broadcast Platform) advanced services, scale emerging networks and national sales, and integrate content verticals.
The acquisition will also create substantial synergistic value through operating efficiencies, revenue streams, programming strategies and digital platforms.
“Today’s announcement is the culmination of an extensive strategic review, which has delivered significant value to our stockholders,” stated Peter Kern, Tribune’s CEO.
Since we announced the strategic review 15 months ago, we have streamlined the business, monetized non-core assets, strengthened our balance sheet and returned more than $800 million to stockholders — all of which has resulted in a 50 percent increase in stockholder value.