Sinclair Broadcast Group (NASDAQ:SBGI) is seeing some pushback from the FCC as it pursues a sweeping $3.9B takeover of Tribune Media (NYSE:TRCO), the WSJ reports.
Sinclair shares have turned lower on the day, -1.2%. TRCO is down 1.4%.
Sinclair has planned to spin off Tribune-owned stations in New York and Chicago to fit under FCC ownership caps, but the potential new owners (and their closeness to Sinclair and its founder) are coming front and center as an issue.
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