Robservations on the media beat:
It’s not clear what prompted FCC chairman Ajit Pai to derail the $3.9 billion acquisition of Chicago-based Tribune Media by Sinclair Broadcast Group. But in raising “serious concerns” about the deal Monday, Pai threw the future ownership of “Chicago’s Very Own” WGN-Channel 9, news/talk WGN 720-AM and 41 other Tribune stations up in the air. According to Reuters, a draft of the FCC’s order said Sinclair’s actions “potentially involve deception” and possible “misconduct.” Sinclair responded that it was “shocked and disappointed” by the setback and denied any “misrepresentation or lack of candor” involving its plans to divest 21 Tribune Media stations — including WGN. “At no time have we misled the FCC in any manner whatsoever with respect to the relationships or the structure of those relationships proposed as part of the Tribune acquisition,” the company said. Tribune Media stock fell nearly 17 percent to $32.12 on Monday’s bombshell news. Continue reading











