Monday, July 16, 2018

Sinclair, Tribune shares plunge following FCC chairman's comments

Shareholders of Sinclair Broadcast Group Inc. and Tribune Media Co. are taking a hit with the outlook of a tie-up between the two looking grim. Hunt Valley-based Sinclair shares dropped more than 10 percent on Monday afternoon to $29.45 after Federal Communications Commission Chairman Ajit Pai raised “serious concerns” over the $3.9 billion deal and called for an administrative hearing. Shares of Tribune (NYSE: TRCO) sank more than 15 percent to $32.44. Investors had been banking on the FCC giving…



from https://www.bizjournals.com/baltimore/news/2018/07/16/sinclair-tribune-shares-plunge-following-fcc.html?ana=RSS&s=article_search
via http://baltimorecheckbook.tumblr.com/post/175958974022

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