Tribune Media Co terminated its $3.9 billion sale to Sinclair Broadcast Group on Thursday and sued Sinclair for breach of contract, claiming the rival TV-station owner mishandled efforts to get the transaction approved by taking too long and being too aggressive in its dealings with regulators.
Sinclair, the largest U.S. broadcast station owner with 192 stations, said Thursday it would no longer pursue the Tribune merger and denied Tribune’s allegations. The Republican-led Federal Communications Commission expressed opposition to the deal last month, when it questioned Sinclair’s candor over the planned sale of some stations, suggesting Sinclair would effectively retain control over them.
