NEW YORK — Sinclair Broadcast Group says it’s in talks with Tribune Media on how to overcome regulatory hurdles to its $3.9 billion deal to buy 42 of Tribune’s TV stations.
Sinclair CEO Chris Ripley says the companies are working to find approaches that are best for the company, employees and shareholders. He made the comments Wednesday as Sinclair reported quarterly financial results.
In July, Federal Communications Commission Chairman Ajit Pai raised concerns about the deal and ordered a hearing.
The deadline for either party to walk away from the deal is Wednesday. Neither side appeared to be leaving the deal. If they remain in talks, they will face a lengthy hearing process with the FCC. In the past, just the prospect of that has dissuaded companies from continuing with merger plans.
• Tribune Media ‘assessing all options’ after FCC puts brakes on Sinclair deal
• Sinclair-WGN deal in trouble; FCC chairman Ajit Pai calls for hearings
• Sinclair bid to control WGN-TV on track as ‘fake stories’ video rocks internet