Sinclair Broadcast to buy Tribune Media for $3.9 billion, will

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https://www.nytimes.com/2017/05/08/business/dealbook/movers-fed-akzo.html

>The Sinclair Broadcast Group has agreed to acquire Tribune Media for about $3.9 billion.

>The deal will expand Sinclair’s network of local broadcast stations across the country, giving the right-leaning media company entry to new markets, including Chicago and New York.

>Sinclair had been closing in on a deal for Tribune for weeks now. Last week, the sale process was shaken up when 21st Century Fox considered teaming up with Blackstone to mount a rival bid.

>But by Sunday night, it was clear that Sinclair was poised to emerge the winner. Sinclair will pay $43.50 per share for Tribune in cash and stock.

http://www.baltimoresun.com/business/bs-md-sinclair-tribune-deal-20170508-story.html
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>The deal, which gives Sinclair ownership or control of TV stations in 72 percent of the U.S., is worth $43.50 per share.

>"It's transformative for the company and will create a leading media platform that will include the country's largest markets," Chris Ripley, Sinclair's president and CEO, said in an interview. "We think it's a great opportunity to improve the content across all the stations by networking the stations together and news sharing.
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