If completed, Sinclair will control a whopping 233 TV stations that reach 72 percent of U.S. households. The transaction, which includes Tribune Media’s 42 stations, radio station WGN-AM and other assets, is being reviewed by the Federal Communications Commission and the Justice Department’s antitrust unit.
Although its backers are hoping for fast-track approval, Sinclair’s buyout of Tribune Media should not be endorsed by regulators. If approved, this arrangement will spawn a media behemoth that’s capable of crippling competition and weakening the broadcast franchises that millions of consumers depend upon for local news, information and entertainment.