|Bid||26.75 x 2000|
|Ask||26.90 x 500|
|Day's Range||25.50 - 26.95|
|52 Week Range||25.50 - 40.15|
|PE Ratio (TTM)||4.70|
|Earnings Date||Aug 8, 2018|
|Forward Dividend & Yield||0.72 (2.18%)|
|1y Target Est||43.29|
Sinclair Broadcast Group Inc (SBGI.O) "did not fully disclose facts" about aspects of its $3.9 billion acquisition of Tribune Media (TRCO.N), the U.S. Federal Communications Commission said in an order released on Thursday that referred the issue to an administrative law judge for a hearing. The order is a serious and potentially fatal blow to Sinclair's bid to acquire Tribune. Sinclair had sought to remove questions about three stations referenced in the order by dropping divestiture plans on Tuesday.
By David Shepardson WASHINGTON (Reuters) - Sinclair Broadcast Group Inc "did not fully disclose facts" about aspects of its $3.9 billion acquisition of Tribune Media , the U.S. Federal Communications Commission said in an order released on Thursday that referred the issue to an administrative law judge for a hearing. The order is a serious and potentially fatal blow to Sinclair's bid to acquire Tribune. Tribune said it is "currently evaluating its implications and assessing all of our options in light of today's developments." Sinclair had sought to remove questions about three stations referenced in the order by dropping divestiture plans on Tuesday.
Sinclair Broadcast Group Inc. said Wednesday it will change divestiture plans for three television stations to sweeten its chances of winning approval for its acquisition of Tribune Media Co. and appease criticism from U.S. regulators. Sinclair said it would find a different buyer for stations in Dallas and Houston instead of Cunningham Broadcasting Corp. and it would simply acquire Tribune Media-owned WGN in Chicago. The companies had planned for WGN to be sold to an entity named WGN TV LLC and that Sinclair would provide support to the station on sales and services in an agreement with the new owner.
Media content companies and telecom delivery systems are fast converging, which has propelled Sinclair Broadcast Group’s merger with Tribune Media. Pity Federal Communications Commission Chairman Ajit Pai, who must manage this economic change with outdated communications laws. Liberals love to hate Sinclair because its programming leans conservative, and for months they have derided Mr. Pai as a subsidiary of the Smith family-owned network because he has eased regulations to facilitate the Tribune tie-up.
The decision came despite the company's announcement it would not divest three television stations currently owned by Tribune in hopes of winning approval after FCC Chairman Ajit Pai raised "serious concerns" on Monday. Two FCC officials who did not wish to be identified said Wednesday they believe the merger will not be able to proceed. Sinclair, which owns the largest number of local TV stations in the U.S., had said it will drop plans to divest stations in Dallas, Chicago and Houston to "expedite" the transaction after the FCC suggested the company would still control the stations.
After FCC Chairman Ajit Pai voiced his concerns over the proposed deal, shares of both Tribune (TRCO) and Sinclair (SBGI) plummeted. Just how important is it for the two firms to come together?
Sinclair Broadcast Group Inc. has said it would spin off major Tribune Media Co. stations in Chicago and other cities, to be in compliance with current television-ownership rules and to receive government approval for its proposed acquisition of Tribune. In Chicago, Tribune?s WGN would be sold to Steven Fader for $60 million. Mr. Fader is a partner with Mr. Smith in Atlantic Automotive Corp., a car-dealership concern.
WASHINGTON—A top federal communications regulator said Monday that he had “serious concerns” about Sinclair Broadcast Group Inc.’s $3.9 billion acquisition of Tribune Media Co. and took action to block the deal. Mr. Pai said he has circulated a draft order to fellow commissioners that would send those divestiture issues for a hearing before an administrative law judge. “When the FCC confronts disputed issues like these, [federal law] does not allow it to approve a transaction,” Mr. Pai said in his statement.
Federal Communications Commission Chairman Ajit Pai said on Monday he had "serious concerns" about Sinclair Broadcast Group Inc’s (SBGI.O) proposed $3.9 billion acquisition of Tribune Media Co (TRCO.N), a surprise move which could potentially scuttle the deal and sent shares of both companies tumbling. Pai, whom Democrats have accused of making a string of decisions benefiting Sinclair, proposed referring the matter to an administrative law judge.
Federal Communications Commission Chairman Ajit Pai questioned Sinclair Broadcast Group Inc’s proposed $3.9 billion acquisition of Tribune Media Co , in a surprise decision that could potentially scuttle the deal and sent shares of both companies tumbling. Pai, whom Democrats have accused of making a string of decisions benefiting Sinclair, proposed referring the matter to an administrative law judge.
WASHINGTON (Reuters) - The Federal Communications Commission has the three votes needed to approve a draft order sending Sinclair Broadcast Group Inc's proposed $3.9 billion acquisition of Tribune Media Co to an administrative hearing, an official said on Monday. FCC Chairman Ajit Pai said on Monday he has "serious concerns" about the planned deal. (Reporting by Diane Bartz; Editing by Susan Thomas)
The Federal Communications Commission has the three votes needed to approve a draft order sending Sinclair Broadcast Group Inc's proposed $3.9 billion acquisition of Tribune Media Co to an administrative ...
A draft Federal Communications Commission order seen by Reuters on Monday said that Sinclair Broadcast Group Inc's application for approval to purchase Tribune Media Co may "involve deception." ...
According to an IBISWorld study, the US Television Broadcasting industry has struggled somewhat to attract viewers and generate advertising revenue over the five years to 2017, though industry revenue has increased. Pre-market today, WallStEquities.com covers the recent performance of News Corp. (NWS), Sinclair Broadcast Group Inc. (SBGI), TEGNA Inc. (TGNA), and The E.W. Scripps Co. (SSP). On Thursday, shares in New York headquartered News Corp. saw a slight decline of 0.32%, ending the day at $15.75.
Dividends play a key role in compounding returns over time and can form a large part of our portfolio return. Over the past 10 years, Sinclair Broadcast Group Inc (NASDAQ:SBGI)Read More...
NEW YORK, June 13, 2018-- In new independent research reports released early this morning, Fundamental Markets released its latest key findings for all current investors, traders, and shareholders of Quorum ...
For today, WallStEquities.com covers the recent performance of four TV Broadcasting companies, namely, News Corp. (NASDAQ: NWS), Sinclair Broadcast Group Inc. (NASDAQ: SBGI), TEGNA Inc. (NYSE: TGNA), and The E.W. Scripps Co. (NYSE: SSP).
Is Sinclair Broadcast Group (SBGI) a great pick from the value investor's perspective right now? Read on to know more.
Media company Twenty-First Century Fox is buying seven TV stations from Sinclair Broadcast Group for $910 million. The move comes as Sinclair is selling some stations to meet regulatory approval for its pending $3.9 billion acquisition of Tribune Media. Meanwhile, Disney is pursuing a $52 billion takeover of much of Fox, though TV stations will stay with Rupert Murdoch's family under a new Fox company.
The Tribune Media purchase, which has faced regulatory scrutiny, was originally valued at $3.9 billion when it was announced in May 2017. Wednesday, Sinclair said the combined company will reach 62% of U.S. TV households if the deal closes, well below the 72% of U.S. TV households that was originally expected.
Sinclair Broadcast Group Inc. said Wednesday that Fox Broadcasting Co. is a purchaser, along with Standard Media Group, LLC (an affiliate of Standard General L.P.), Meredith Corporation , Howard Stirk and Cunningham Broadcasting Corporation, of certain TV stations it is selling as part of its acquisition of Tribune Media Co., in a deal valued at $4.6 billion after divestitures. Sinclair said in April it was selling about 23 stations to a group of buyers, one of which was not disclosed at the time.
BALTIMORE , May 9, 2018 /PRNewswire/ -- Sinclair Broadcast Group, Inc. (Nasdaq: SBGI) announced that its Board of Directors has declared a quarterly cash dividend of $0.18 per share on the Company's Class ...