Yesterday it was reported that Sinclair and Fox have agreed to sell 10 Sinclair-owned Fox affiliates to Fox. This is part of a deal to get Department of Justice approval for Sinclair to buy Tribune.
This was first reported by the Financial Times and has not been confirmed by Sinclair. According to the report, Sinclair is looking to sell stations in markets where they would own two full-powered stations.
These types of concessions are common to get DOJ approval for major sales. Comcast had a long list of approvals needed before they could close a deal to buy NBCUniversal. These concessions included losing day-to-day control of their share of Hulu for several years.
AT&T is also being asked to sell parts of Time Warner to get approval to buy Time Warner. This case is currently in court as AT&T fights to buy Time Warner without selling off any part of the company.
Look for no announcements to be made until after Sinclair has finished the sale of the affected affiliates.
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