Sinclair Broadcast Group Inc. saw its bid to become a nationwide powerhouse collapse after its would-be partner, Tribune Media Co., withdrew from a planned $3.9 billion merger that drew the ire of regulators.
Tribune blamed Sinclair and filed a $1 billion lawsuit that claimed the broadcaster “engaged in belligerent and unnecessarily protracted negotiations” with antitrust officials and with the Federal Communications Commission. The blow sent Sinclair’s shares tumbling as much as 5.4 percent.
“Regulatory approval should not have been hard to come by,” Tribune said in the complaint filed in Delaware Chancery Court. “Sinclair fought, threatened, insulted, and misled regulators...
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