Sinclair Broadcast to Sell (But Keep Running) NY, Chicago Stations

2/22/18

By Jason Aycock, SeekingAlpha

Sinclair Broadcast Group (SBGI +0.6%) is selling stations in New York and Chicago, but will still run them.

The company is divesting WPIX in New York and WGN in Chicago as part of an effort to get regulatory clearance for its proposed $3.9B deal for Tribune Media (TRCO +0.1%), by clearing two major population centers out of its audience reach numbers.

The buyers are undisclosed, with the deals to be wrapped around the time the Tribune merger is completed.

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