TRCO/SBGI: DOJ Working on Proposed Final Judgment

Event Driven Takeaways
 

• The DOJ and Sinclair have begun work on the proposed final judgment to resolve the agency’s antitrust concerns with the company’s Tribune Media buyout, Event Driven has learned.
• Sinclair may still need to identify a divestiture buyer in the St. Louis area. However, the DOJ’s remaining process likely consists only of the formal steps to get paperwork in order for the consent decree, Event Driven has learned.
• The FCC, meanwhile, opened a public comment period earlier this week which will end on July 12.

The DOJ has finally agreed to waive ahead Sinclair Broadcast Group’s $3.9 billion purchase of rival television broadcaster Tribune Media, Event Driven has learned.

The DOJ and Sinclair are working on a proposed final judgment to resolve the agency's antitrust concerns. As reported, the Tribune/Sinclair consent decree process could move relatively quickly.

At this point, Sinclair may still need to identify the proposed buyer for a divestiture in St. Louis. However, the DOJ’s remaining process likely consists of getting the paperwork in order to file the agency’s consent decree in district court. No substantive antitrust issues remain other than the formalities of the proposed final judgment, Event Driven has learned.

On Monday, the FCC opened its public comment period for the Tribune/Sinclair deal. That comment period will end on July 12.

Event Driven’s past coverage of this transaction can be found HERE.

--Matt Tracy and Ryan Lynch