FCC Chairman Has 'Serious Concerns' About Sinclair-Tribune Deal
Sinclair’s stock plummeted on Monday after FCC Chairman Ajit Pai, cited “serious concerns” with the company’s takeover of Tribune Media. Pai said in a statement, “The evidence we’ve received suggests that certain station divestitures that have been proposed to the FCC would allow Sinclair to control those stations in practice, even if not in name, in violation of the law.”
According to NPR, Sinclair already owns or controls more than 190 television stations and planned to buy more than 30 from Tribune. Realizing that would create an issue for regulators, Sinclair planned to sell off some stations, but to companies with close ties to the family that controls Sinclair.
Pai has called for a hearing in front of an administrative law judge.