Sinclair Broadcast Group offered a revised plan to sell TV stations to satisfy regulators vetting its $3.9 billion purchase of Tribune Media Co., saying it would keep New York’s WPIX and offer other stations to friendly buyers in transactions that have drawn criticism.
Signature station WGN in Chicago would go to a business associate of a top Sinclair executive, while other outlets would be sold to a company controlled by the estate of his mother. Howard Stirk Holdings, owned by conservative commentator Armstrong Williams, would buy some stations, as would New York-based hedge fund Standard General led by Soo Kim. Meredith Corp. would buy one.
Sinclair didn’t list a potential sale of WPIX, the New York station that it earlier proposed divesting to satisfy regulators.
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Source: Ad Age – Media
