{"id":17811,"date":"2018-04-24T16:00:19","date_gmt":"2018-04-24T21:00:19","guid":{"rendered":"http:\/\/www.robertfeder.com\/?p=17811"},"modified":"2018-04-24T16:00:19","modified_gmt":"2018-04-24T21:00:19","slug":"sinclair-amends-filing-tribune-stations-deal","status":"publish","type":"post","link":"https:\/\/robertfeder.dailyherald.com\/2018\/04\/24\/sinclair-amends-filing-tribune-stations-deal\/","title":{"rendered":"Sinclair amends filing for Tribune stations deal"},"content":{"rendered":"
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<\/a> Sinclair Broadcast Group<\/p><\/div>\n

Sinclair Broadcast Group<\/a> moved a step closer to taking over \"Chicago's Very Own\" WGN-Channel 9 and WGN 720-AM Tuesday with an amended application for its acquisition of Chicago-based Tribune Media.<\/a><\/p>\n

In what sources described as a \u201csignificant compromise\u201d from its earlier filing with the Federal Communications Commission, Sinclair plans to sell 23 stations in 18 markets in order to comply with broadcast ownership rules. The agreement awaits approval from the U.S. Department of Justice and the FCC.<\/p>\n

Sinclair earlier announced plans to divest<\/a> ownership of the WGN properties in Chicago, although the Maryland-based company would retain control over the stations\u2019 operations \u2014 including news, programming and sales \u2014 under joint sales and shared services agreements.<\/p>\n

\u201cWhile we continue to believe that we had a strong and supportable rationale for not having to divest stations, we are happy to announce this significant step forward in our plan to create a leading broadcast platform with local focus and national reach,\u201d Chris Ripley, president and CEO of Sinclair, said in a statement.<\/p>\n

After the divestitures, Sinclair would still own, operate and\/or provide services to 215 television stations in 102 markets, according to the company.<\/p>\n

Tribune Media CEO Peter Kern said Sinclair\u2019s latest action was designed to \u201cpave the way for regulatory approval\u201d of the $3.9 billion deal. \u201cWe've known for nearly a year that change was coming, but as I've said before, there is no reason to assume that this change won\u2019t be for the better,\u201d Kern told employees in an email.<\/p>\n

Here is the text of Kern\u2019s email to employees:<\/strong><\/p>\n

Today Sinclair Broadcast Group filed additional paperwork with the FCC, laying out their intentions regarding TV station sales as part of the ongoing process of obtaining regulatory approval for our merger. Their filing spells out Sinclair\u2019s plan to sell 23 stations in 18 markets and, in many cases, identifies the specific buyers of those stations. Importantly, the actions outlined in today\u2019s filing are designed to bring our proposed merger into compliance with the FCC\u2019s broadcast ownership rules and pave the way for regulatory approval.<\/em><\/p>\n

I have attached the press release Sinclair issued earlier today summarizing the filing; please take a moment to read it. I want to highlight a few points contained in the new filing:<\/em><\/p>\n