Sinclair/Tribune Received 2nd Requests from DOJ; Tribune Q2 Results 'Mixed'
Sinclair and Tribune received “second requests” from DOJ last week for additional information about the first buying the second broadcaster, the buyer announced in a Q2 earnings release. Tribune consolidated operating revenue fell 2 percent to $469.5 million. Wells Fargo…
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analyst Marci Ryvicker called results “mixed” in an email to investors, and she and CEO Peter Kern blamed costs associated with a programming shift at WGN America. “Those changes are now behind us, and we expect a much more profitable 2018 with more original hours than the network has ever carried,” Kern said. The deal with Sinclair is “on track,” Kern said. Tribune didn't hold a Q2 earnings call. Some think the move to ATSC 3.0 (see 1706070063) could be helped by the deal and others fear the reshuffling of TV stations' frequencies now that the incentive auction is over could be delayed (see 1708080067).