TRIBUNE “DISAPPOINTED” BY FCC’S SECOND THOUGHTS

24 hours and a stock hammering later, courtesy of industry lobbyist/FCC chair Ajit Pai, the suits at Tribune Media emerged from the bunker to register their disappointment with Pai’s judgement that Sinclair was playing fast and loose in its acquisition plan and that said plan should be referred to an administrative hearing.

In effect, killing the deal.

“Tribune Media was disappointed to learn that the Chairman had circulated an order designating certain issues for consideration by an Administrative Law Judge,” the company’s statement said. “It will review the FCC’s hearing designation order when released and expects to work with the FCC to explore ways to address the concerns identified. Until we have reviewed the order it is difficult to explain the potential issues it might create for the transaction. Fortunately, Tribune’s operations have been strong in 2018 and our team has done a terrific job of maximizing the value of the business through this extended regulatory approval process.”

We’d be interested in hearing from the people who actually WORK at Tribune stations about how they feel about the deal’s apparent demise.

Somehow, we feel more than a few feel they’ve dodged a bullet.

More News from Wednesday, July 18, 2018