Sinclair Plans To Sell WGN To Smith Partner
Sinclair Broadcast Group wants to sell WGN-TV Chicago to a Maryland auto dealer but would remain in control of the station in what critics say is a bid to skirt ownership limits and win federal regulatory approval for its proposed $3.9 billion acquisition of Tribune Media. Steven Fader, CEO of Atlantic Automotive,is a longtime business partner of Sinclair Executive Chairman David Smith.
This article was originally posted on chicagotribune.com
NO!
I thought side car deals were illegal ?
Sinclair has perfected it. They are the king of SSAs.
Been doing them for 10 years, what are you talking about?
DOJ/FCC need to look at the reasoning for ownership caps, and clearly, this attempt to work around it is a slap in the face of the law. It also is not consistent where Pai feels services agreements can work (small markets, small stations). Sinclair should be required to sell both stations outright to a broadcaster capable of operating them.
It’s a perfect plan- these deals are called “Side cars” no wonder he want to sell to a car dealer. But seriously folks – a GIANT scam!
So Pat Tomasulo’s new WGN show “Man Of The People” could get canceled by a fast-talking crazy car dealer. That would be f’n hilarious.
Who could have ever imagined the number one independent in the USA, in America’s 3rd largest market, with #1 news and home of the Cubs-Sox-Hawks-Bulls (and among the last remaining grandfathered superstations)…would be a side car.
Welcome to Sinclair-Land. Where everything is cheapened and debased Where community service, proud tradition, and excellence get tossed in the garbage dumpster. Where the 40 margin is sacred and worshiped. Where professionals are expendable robots – just making the donuts.