Sinclair Broadcast Group’s proposed $3.9-billion deal to acquire of Tribune Media is dead.
Tribune announced Thursday that it is terminating the merger agreement. The companies had the option to kill the sale if it had not closed by Aug. 8. The deal was first announced in May 2017.
Tribune also said it filed a breach-of-contract lawsuit against Sinclair in Delaware Chancery Court, claiming the company failed to live up to its commitment to make its best effort at getting regulatory approval of the sale.
Full Story @ Los Angeles Times
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