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Fly News Breaks for March 2, 2017
SBGI, TRCO
Mar 2, 2017 | 08:09 EDT
After Reuters reported that Sinclair Broadcast (SBGI) is interested in Tribune's (TRCO) assets, Wells Fargo estimates that the sum of the parts valuation of Tribune is $37-$51 per share. The firm says that the most likely scenario is that Tribune will sell WGNA and some of its stations to Sinclair. Wells raised its price target on Tribune to $40-$44 from $32-$34 and keeps an Outperform rating on the shares.
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