Tribune Media breaks off $3.9 billion merger with Sinclair
Tribune Media announced Thursday that it has terminated its $3.9 billion merger agreement with Sinclair Broadcasting and that it has filed a lawsuit for breach of contract.
Why it matters: The merger would’ve created the largest local broadcaster in America. Now, Tribune will likely sell its stations to another local broadcaster, and conservative-leaning Sinclair will likely pursue other deals to acquire more local stations, as its CEO Christopher Ripley suggested during an earnings call Wednesday.
