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Fly News Breaks for July 17, 2018
SBGI, TRCO
Jul 17, 2018 | 08:33 EDT
Jefferies analyst John Janedis sees potential downside to $30 per share for Tribune Media (TRCO) should the company's takeover by Sinclair Broadcast Group (SBGI) break over regulatory scrutiny. The analyst, however, assumes both parties will "look to salvage the deal, if possible." He remains positive on shares of Sinclair, noting the company is trading at a 18% free cash flow yield. Janedis expects Sinclair to counter the Federal Trade Commission's concerns by addressing the divestitures deemed problematic.
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