A draft FCC order seen by Reuters on Monday said that Sinclair Broadcast Group Inc.’s application for approval to purchase Tribune Media may “involve deception.” The order said that “Sinclair’s actions here potentially involve deception” and noted possible “misconduct.”
FCC Chairman Ajit Pai said Monday he has “serious concerns” about Sinclair Broadcast Group’s acquisition of Tribune Media, announcing he will schedule a hearing on the transaction before an administrative law judge.
Shares of Nexstar Media Group soared Wednesday after Reuters reported that private equity firm Apollo Global Management had approached the second largest broadcast station owner in the U.S. about a possible buyout.
The American Television Alliance tells the FCC that Gray Television shouldn’t be allowed to buy KDLT because it already owns KSFY in the South Dakota market and duopoly ownership of two top-four affiliates would give Gray too much retrans negotiating power.
The sale of W11DJ-D Glasgow, KY to News Publishing LLC tops the latest list of TV station transactions submitted to the FCC for its approval, according to BIA Advisory Services.
Sinclair Broadcast Group’s bid to become a broadcasting powerhouse by purchasing Tribune Media Co. hinges on spinning off TV stations to comply with U.S. limits on broadcast ownership. Yet its proposals to sell stations from Pennsylvania to California are drawing fresh scrutiny, as critics including business rivals say some of the transactions are designed to evade the ownership rules.
Radio and TV station merger and acquisition activity totaled $5.11 billion in the second quarter of 2018, the biggest quarter since second quarter 2007. Kagan says, however, that 98% of the volume was attributable to TV stations sales, led by Gray Television’s acquisition of Raycom Media for $3.65 billion.
A dozen senators called on the FCC to investigate Sinclair Broadcast Group for distorting the news, and to pause its review of the pending acquisition of Tribune Media. FCC Chairman Ajit Pai immediately shot down the request, saying it would conflict with his commitment to the First Amendment and freedom of the press.
A dozen senators wrote to the FCC today to urge the agency to investigate Sinclair Broadcast Group and pause its proposed merger with Tribune Media.
The sale of KSKJ-CD Van Nuys, Calif., by NRJ TV to HC2 Holdings tops the latest list of TV station transactions submitted to the FCC for its approval, according to BIA/Kelsey.