The Sinclair Broadcast Group has taken bids for up to 10 of its stations (up to US$1 billion worth) as it looks to solidify approval for its US$3.9 billion acquisition of Tribune Media, Bloomberg reported on Tuesday, October 17.
Preliminary bids for the stations were submitted last week, said one of Bloomberg’s sources, who asked not to be identified because the process wasn’t public. Sinclair may sell some or all of the outlets, all in different markets, the people said.
According to Bloomberg, the process is private, but preliminary bids came in last week. Station divestments are surely coming as part of FCC approvals, since overlaps in the two companies would put the combination about six points over the maximum allowed reach of 39% of US television homes.
Sinclair, based in Hunt Valley, Maryland, wants to buy stations in 33 markets from Chicago-based Tribune. The company would have 233 stations, with a presence in 39 of the top 50 markets, according to a Sinclair presentation to investors that calls the resulting combination “the largest broadcasting group.”
Full Content: Bloomberg
Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.
Featured News
FTC Urged to Enforce Rarely Used Antitrust Law Against Retail Giants
Mar 28, 2024 by
CPI
UK’s Fingleton Bolsters Team with New Additions
Mar 28, 2024 by
CPI
Britain’s Competition Regulator Clears Aviva’s Acquisition of AIG Life UK
Mar 28, 2024 by
CPI
White House Implements New AI Safeguards to Protect Rights and Safety
Mar 28, 2024 by
CPI
Denver Court Sets August Date for Kroger-Albertsons Merger Showdown
Mar 28, 2024 by
CPI
Antitrust Mix by CPI
Antitrust Chronicle® – Real Estate & Antitrust
Mar 27, 2024 by
CPI
Systematic National Evidence of Steering by Real Estate Agents
Mar 27, 2024 by
CPI
Compliance Now! Actionable Antitrust Advice for the Residential Real Estate Industry
Mar 27, 2024 by
CPI
Real Estate Commissions: Some Insights from the Economics of Multi-Sided Platforms
Mar 27, 2024 by
CPI
New Ideas for Promoting Real Estate Brokerage Price Competition
Mar 27, 2024 by
CPI