Tribune calls off merger, blasts Sinclair for circumventing FCC rules
Tribune Media Company today terminated its merger agreement with Sinclair Broadcast Group and sued Sinclair for breach of contract.
Tribune's move to kill the merger comes three weeks after the Federal Communications Commission voted unanimously against approving Sinclair's proposed acquisition of Tribune Media.
There was still a slim chance that Sinclair could save the merger because the FCC referred the deal to an administrative law judge. But Tribune announced today "that it has filed a lawsuit in the Delaware Chancery Court against Sinclair for breach of contract. The complaint seeks compensation for all losses incurred as a result of Sinclair's material breaches of the merger agreement."