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Tribune files $1 billion suit against Sinclair, scraps deal
4 days ago - By Philly
Sinclair Broadcast Group Inc. saw its bid to become a nationwide powerhouse collapse after its would-be partner, Tribune Media Co., withdrew from a planned $3.9 billion merger that drew the ire of regulators.
Read more ...Business Highlights
4 days ago - By Chron
$3.9B buyout of Tribune by Sinclair ends in acrimony
NEW YORK - Tribune is withdrawing from its $3.9 billion buyout by the Sinclair Broadcast Group, ending a bid to create a massive media juggernaut that could have rivaled the reach of Fox News. Tribune Media Co., which is on the hook for a $135 million breakup fee, said Thursday that it is suing Sinclair for breach of contract and at least $1 billion in damages.
Merger cancellation pushes Rite Aid into uncertain future
NEW YORK - Rite Aid shares have plunged as the company headed into an uncertain future after calling off its merger with...
Read more ...Tribune withdraws from Sinclair merger, sues for $1 billion over ‘breach' of contract
4 days ago - By Washington Post
The merger began to stumble last month after the FCC chairman highlighted “serious concerns” about the deal, which originally would have reached roughly 70 percent of U.S. households.
Read more ...Musical.ly investor bets on internet radio with $17M deal for Korea's Spoon Radio
4 days ago - By Tech Crunch
One of the early backers of Musical.ly, the short video app that was acquired for $1 billion , is making a major bet that internet radio is one of the next big trends in media.
Goodwater Capital, one of a number of backers that won big when ByteDance acquired Musical.ly last year, has joined forces with Korean duo Softbank Ventures and KB Investment to invest $17 million into Korea's Spoon Radio. The deal is a Series B for parent company Mykoon, which operates Spoon Radio and previously developed an unsuccessful smartphone battery sharing service.
That's much like Musical.ly, which...
Read more ...Tribune Media terminates sale to Sinclair Broadcast Group, seeks $1 billion in damages
4 days ago - By Stl Today
Sinclair Broadcast Group's proposed $3.9-billion deal to acquire Tribune Media is dead. Tribune announced Thursday that it is terminating the merger agreement. The companies had the option to kill the sale if it had not closed by Aug. 8. The...
Read more ...
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