Follow Us On Follow us on Facebook Follow us on Twitter
Register

Log in

User Name:

Password:

Not a member yet?
Register Now!

Denver Weather

December 2017

S M T W T F S
26 27 28 29 30 1 2
3 4 5 6 7 8 9
10 11 12 13 14 15 16
17 18 19 20 21 22 23
24 25 26 27 28 29 30
31 1 2 3 4 5 6

Today's Birthdays

None

Online Users: 7

0 members and 7 guests
No Members online
Most users ever online was 262, May 14th, 2014 at 07:49 PM.

Stats

Members: 3,393
Threads: 6,782
Posts: 8,561
Top Poster: Colorado Media Newsroom (6,744)
Welcome to our newest member, kelvindramos69

Visitor Map

Results 1 to 1 of 1
  1. #1

    Default Sinclair Buys Tribune Media

    From All Access:

    SINCLAIR BROADCAST GROUP is buying TRIBUNE MEDIA for $3.9 Billion plus assumption of about $2.7 billion in debt. The deal, originally reported by REUTERS, values TRIBUNE at $43.50 per share, about a 26% premium over the price of TRIBUNE stock the day before SINCLAIR's interest in the company was reported on FEBRUARY 28th. While 21ST CENTURY FOX and BLACKSTONE GROUP had been talking about a joint bid for TRIBUNE, FOX, according to REUTERS' sources, did not submit a bid for the company.

    “This is a transformational acquisition for SINCLAIR that will open up a myriad of opportunities for the company,” said SINCLAIR President and CEO CHRIS RIPLEY. “The TRIBUNE stations are highly complementary to SINCLAIR’s existing footprint and will create a leading nationwide media platform that includes our country’s largest markets. The acquisition will enable SINCLAIR to build ATSC 3.0 (Next Generation Broadcast Platform) advanced services, scale emerging networks and national sales, and integrate content verticals. The acquisition will also create substantial synergistic value through operating efficiencies, revenue streams, programming strategies and digital platforms.”

    “This will be the largest acquisition in our company's history, and I want to thank everyone from the SINCLAIR team, as well as our advisors and bankers who made this possible," said SINCLAIR Executive Chairman DAVID SMITH . "Television broadcasting is even more relevant today, especially when it comes to serving our local communities. TRIBUNE’s stations allow SINCLAIR to strengthen our commitment to serving local communities and to advance the Next Generation Broadcast Platform. This acquisition will be a turning point for SINCLAIR, allowing us to better serve our viewers and advertisers while creating value for our shareholders."
    “Today’s announcement is the culmination of an extensive strategic review, which has delivered significant value to our stockholders,” said TRIBUNE CEO PETER KERN. “Since we announced the strategic review 15 months ago, we have streamlined the business, monetized non-core assets, strengthened our balance sheet and returned more than $800 million to stockholders -- all of which has resulted in a 50% increase in stockholder value. We are extremely proud to join SINCLAIR, and we’re excited that TRIBUNE stockholders and employees will have the opportunity to participate in the long-term growth of the combined company.”

    SINCLAIR will get 42 TV stations, cable's WGN AMERICA, TRIBUNE STUDIOS, and News-Talk WGN-A/CHICAGO in the deal; SINCLAIR has radio interests in SEATTLE. Under current FCC ownership rules, SINCLAIR will be over the cap limits in SEATTLE, PORTLAND, SALT LAKE CITY, NORFOLK, SCRANTON-WILKES-BARRE (stations operated by SINCLAIR under an LMA), MILWAUKEE, and ST. LOUIS and will gain new duopolies in WASHINGTON, DES MOINES, GRAND RAPIDS, HARRISBURG, and RICHMOND.

    more

 

 

Thread Information

Users Browsing this Thread

There are currently 1 users browsing this thread. (0 members and 1 guests)

Bookmarks

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •  
Powered by vBadvanced CMPS v4.3.0