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Fly News Breaks for April 25, 2018
TRCO, SBGI
Apr 25, 2018 | 09:04 EDT
Benchmark analyst Daniel Kurnos said he assumes that Sinclair Broadcast's (SBGI) announcement of its expected station divestitures to satisfy regulatory bodies in the pending Tribune (TRCO) deal is the company's final expected station divestiture list. He doubts Sinclair would publish this list without implicit approval from the DOJ, added Kurnos, calling the announcement a "much needed public sign of progress." Kurnos, who expects Sinclair could generate at least $1.5B-$2B in proceeds, keeps a Buy rating on Sinclair shares.
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