Reuters: Sinclair Talking Merger With Tribune

Reuters is reporting that Sinclair Broadcast Group has approached Tribune about a possible merger should existing ownership caps be eased.
Discussions about combining two of the country’s largest station groups are preliminary, Reuters reports. A deal would also be contingent on the FCC relaxing current regulations, which don’t allow broadcast groups to reach more than 39% of the country.
Reuters reports Tribune is already above the FCC cap, reaching 44% of U.S. households, while Sinclair is at 38%, according to Jefferies LLC analyst John Janedis.
News of the discussions comes as Tribune, which is scheduled to release its 4Q 2016 earnings Wednesday, looks for a replacement for departing CEO Peter Liguori, who has guided the company post-bankruptcy. During the last year alone, the company has sold key properties such as the media data company Gracenote and its iconic Tribune Tower.
The smarter way to stay on top of broadcasting and cable industry. Sign up below