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VOL. 42 | NO. 16 | Friday, April 20, 2018
Sinclair Broadcast Group to sell 9 TV stations for $441.7M
NEW YORK (AP) — Sinclair Broadcast Group will sell nine TV stations to Standard Media Group for $441.7 million as part of its plan to meet regulatory approval for its pending $3.9 billion acquisition of Tribune Media.
The sale of the stations is contingent on the Tribune deal closing. Sinclair said it expects that deal to close by the end of the second quarter.
The moves come after Sinclair received widespread attention after news reports earlier in April showed dozens of Sinclair news anchors reading an identical script expressing concern about "one-sided news stories plaguing the country." At the time, President Donald Trump tweeted his support of the network.
The stations include one each in Oklahoma, Michigan, North Carolina, Virginia and Iowa and four in Pennsylvania.
Sinclair owns 193 stations across the country.