The FCC's decision to stop Sinclair's plan to acquire Tribune, has both companies scrambling.

Shortly after Sinclair released their statement, Tribune CEO Peter Kern sent an email to the company outlining their response. The email basically mimics the press release:

From: Peter Kern

Date: 7/17/18 6:31 AM (GMT-08:00) 

To: 

Subject: Transaction Update

 

As I’m sure you know, yesterday FCC Chairman Ajit Pai circulated an order to his fellow commissioners citing “serious concerns” about Sinclair’s proposed divestiture plan related to our merger.  The Chairman’s draft order designates certain issues related to our pending merger for an administrative hearing, and a majority of the commissioners have voted in support of the order.  The order itself has not been made public, and thus we are not yet able to review it, determine the FCC’s specific areas of focus, and assess the timing of a resolution.  Nonetheless, we are disappointed in this latest development regarding our pending transaction.

 

This morning we issued the attached press release.  As the release says, when the order is released, we will study it and expect “…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.”  The release also points out that thanks to your hard work, Tribune's operations have been strong in 2018.  

 

I know this latest development creates more uncertainty about our merger, but try to stay focused on the business and the audiences, advertisers and communities we serve, just as you have done throughout the year.

 

We’ll continue to keep you updated as we move forward.

 

Peter

And as has been said since the beginning of TV, "Stay tuned...."