Sinclair Broadcast Group (NASDAQ:SBGI) responds to Tribune’s (NYSE:TRCO) and files a counterclaim for breaching the merger agreement.
Sinclair calls Tribune’s lawsuit “meritless” and says it’s “seeking to capitalize on an unfavorable and unexpected reaction” from the FCC to “capture a windfall for Tribune.”
Key quote: “As described in our filing, we fully complied with our obligations under the merger agreement and worked tirelessly to close the transaction. The Company looks forward to vigorously defending against Tribune's claims and pursuing our own claim.”
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