Tribune scraps $3.9bn buyout by Sinclair and sues for breach of contract

Tribune has charged that Sinclair failed to live up to its end of the deal in getting the arrangement approved

Tribune Media Company scrapped its $3.9bn deal to merge with Sinclair Broadcast Group on Thursday – and sued the company for breach of contract.

The move scuttles a takeover that would have turned Maryland-based Sinclair, an operator of local broadcast news affiliates, into a TV behemoth with access to seven in 10 US households, including those in major markets like New York, Chicago, and Los Angeles.

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from US news | The Guardian https://ift.tt/2vwwIQl