Sinclair Ready to Make Offer for Tribune Stations
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FTVLive was the FIRST to tell you that Sinclair was interested in buying the Tribune stations.
Now it appears that Sinclair is ready to make and offer. Bloomberg says that Sinclair is working to finalize a deal on or before the same day Tribune reports first-quarter earnings, which is slated for the week of May 8.
Sinclair is looking to offer a per-share price in the high $30s.
Shares of Chicago-based Tribune closed at $37.70 on Tuesday, giving it a market capitalization of about $3.3 billion.
Sinclair has gotten their good friend President Trump to have the FCC relax ownership rules that will allow the company to gobble up Tribune.
People working a Tribune stations are, "scared to death" that Sinclair might be taking them over, according to one Tribune insider.
Final terms of a transaction between Sinclair and Tribune haven’t been agreed upon, and a deal could still fall apart.
Which is what many people working a Tribune stations are hoping will happen.
