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Tribune Media withdraws from Sinclair merger, sues for $1 billion

Tribune Media withdraws from Sinclair merger, sues for $1 billion

Facing potentially insurmountable regulatory hurdles, Tribune Media on Thursday pulled the plug on its merger agreement with Sinclair Broadcast Group and sued Sinclair for $1 billion.

The failure of the proposed $3.9 billion merger ends a lengthy saga that generated widespread opposition over Sinclair’s right-leaning editorial views and concerns about media concentration.

It also means an uncertain future for Chicago-based Tribune Media after 15 months of preparing to be taken over by Sinclair. The owner of WGN-Ch.9 and dozens of other television stations, Tribune Media remains an acquisition target. Meanwhile, it has seen some employees leave.

“We’ve done everything...

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