By Free Press
The Federal Communications Commission is investigating whether Sinclair Broadcast Group “engaged in misrepresentation and/or lack of candor” with the agency when it was seeking approval of its $3.9 billion takeover of Tribune Media Co. in 2018, the Wall Street Journal reports.
Tribune Media withdrew from the proposed merger last August, after the FCC releases a Hearing Designation Order, in which the agency criticized Sinclair for misrepresenting its plan to transfer control of several television stations to shell companies set up by the broadcaster.
“The record raises significant questions as to whether those proposed divestitures were in fact ‘sham’ transactions,” according to the order.
Posted on June 27, 2019