The FCC just released its hearing designation order and for now, they've stopped the Sinclair - Tribune merger.  The Commission says there are significant questions about the transactions of two stations in Texas and one in Illinois. The order says the transactions appear to be a 'sham' and unless those issues are resolved, granting the merger would not be in the public interest.

Sinclair planned to transfer WGN-TV to Steven Fader, who has no prior broadcasting experience and serves as the CEO of a company that Sinclair CEO David Smith has controlling interest of. The FCC says under Sinclair's proposal, Fader would have purchased WGN-TV at a price that appeared significantly below market value and Sinclair would have an option to buy back the station in the future.

Sinclair says it has done nothing wrong and has been straightforward with the FCC about what it was doing.

We're wondering why the FCC hasn't raised these questions 20 years ago, concerning some sidecar deals?

h/t B&C