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Sinclair Broadcast Group to buy Tribune Media for about $3.9 bn

This creates a US broadcasting behemoth to face down online competitors vying for local advertising

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Alex Sherman | Bloomberg
Sinclair Broadcast Group is buying Tribune Media for about $3.9 billion, a deal made possible after the US Federal Communications Commission voted last month to ease a limit on TV-station ownership in the US.

Sinclair will pay $43.50 a share to gain Tribune TV stations in big media markets like New York, Chicago and Miami, strengthening its hand in negotiations with pay-TV distributors and major broadcast networks like 21st Century Fox.

The marriage of Sinclair and Tribune, two of the largest local TV station owners in the US, creates a US broadcasting behemoth to face down online competitors vying for a piece