Sinclair Broadcast Group Inc. may sell off some television stations in an effort to help secure approval for its proposed merger with Tribune Media Co., according to a report by Bloomberg.
The report says Sinclair has received bids for as many as 10 television stations that could fetch up to $1 billion.
Bloomberg cites sources who are familiar with the matter saying Sinclair may sell some or all of the stations, which are all in different markets.
“The process could be delayed by uncertainty over whether President Donald Trump’s appointees will change rules limiting media ownership and how the administration will enforce antitrust laws, the people said. Federal Communications Commission Chairman Ajit Pai has told an opponent of the Sinclair-Tribune deal that the agency may review media ownership rules before ruling on the $3.9 billion transaction,” Bloomberg reports.
Bloomberg adds: “The conservative-leaning broadcaster said in an FCC filing this month that it’s working with Moelis & Co. on potential transactions and that it hadn’t identified which stations it might sell. The FCC is one of two agencies vetting the deal that, as originally proposed, would bring Sinclair 42 more stations and a presence in top markets including New York and Los Angeles.”