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Sinclair Pays Nexstar $60M, Some Assets, to Settle Tribune Suit

Y2kTheNewOldies

Y2kTheNewOldies

Sinclair and Nexstar have settled Tribune's lawsuit against Sinclair--which Nexstar purchased--over Sinclair's failure to close its previous deal to buy Tribune.

Sinclair will give Nexstar $60 million cash and some assets.

That is according to a filing with the Securities and Exchange Commission (SEC).

Sinclair and Nexstar are dismissing the lawsuit with prejudice, meaning it can't be refiled.

Neither admitted liability or wrongdoing in the terminated merger, which fell apart after the FCC designated it for hearing over concerns about Sinclair's sidecar deals to align the merger with FCC rules.

In announcing the order, Pai had said at the time: "The evidence we’ve received suggests that certain station divestitures that have been proposed to the FCC would allow Sinclair to control those stations in practice, even if not in name, in violation of the law."
Click to expand...


https://www.broadcastingcable.com/news/sinclair-pays-nexstar-60m-some-assets-to-settle-tribune-suit


This was the result of the failed Sinclair/Tribune deal.
 
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