US media entity, Sinclair Broadcast Group, is acquiring Tribune Media in a deal valued at $3.9 billion. The deal is expected to close by Q4 this year in which Sinclair will acquire 100% of Tribune shares for $43.50 each. “This is a transformational acquisition for Sinclair that will open up a myriad of opportunities for the company,” Sinclair […]
US media entity, Sinclair Broadcast Group, is acquiring Tribune Media in a deal valued at $3.9 billion.The deal is expected to close by Q4 this year in which Sinclair will acquire 100% of Tribune shares for $43.50 each.
“This is a transformational acquisition for Sinclair that will open up a myriad of opportunities for the company,” Sinclair CEO Chris Ripley said in a statement.
“The Tribune stations are highly complementary to Sinclair’s existing footprint and will create a leading nationwide media platform that includes our country’s largest markets.”
Tribune Media has 42 owned or operated broadcast stations, as well as cable network WGN America, Tribune Studios and WGN-Radio. Sinclair, which has a market capitalization of $3.36 billion, owns, operates or provides services to 173 television stations in 81 markets.