April 24, 2018 / 8:46 PM / a month ago

Sinclair to sell TV stations as part of Tribune acquisition

WASHINGTON, April 24 (Reuters) - Sinclair Broadcast Group Inc on Tuesday said it will sell 23 television stations to several companies after completing its $3.9 billion acquisition of Tribune Media Co.

The sales are to obtain the necessary governmental approval of the Tribune transaction, the company said, as it has worked for months to win regulatory approval for the deal. The company said it now expects to close the deal near the end of June.

Sinclair plans to sell the stations to Standard Media Group, Meredith Corp, Howard Stirk and Cunningham Broadcasting Corp and another party to be announced, the company said. The stations include 14 Tribune stations — including WGN-TV in Chicago and stations in Denver, Cleveland and San Diego — and nine Sinclair stations, including outlets in Des Moines, Iowa; Salt Lake City; and Seattle. (Reporting by Munsif Vengattil in Bengaluru and David Shepardson in Washington; editing by Jonathan Oatis)

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