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SBGI

Sinclair Broadcast

$26.30

-1.05 (-3.84%)

, TRCO

Tribune Media

$32.26

-1.83 (-5.37%)

13:19
07/19/18
07/19
13:19
07/19/18
13:19

FCC questions if Sinclair 'engaged in misrepresentation' in applications

In its just-released Hearing Designation Order, the Federal Communications Commission states that Sinclair Broadcast Group (SBGI) and Tribune Media (TRCO) have filed applications seeking to transfer control of Tribune subsidiaries to Sinclair in relation to their proposed merger. Among these applications were three that, rather than transfer broadcast television licenses in Chicago, Dallas, and Houston directly to Sinclair, proposed to transfer these licenses to other entities. "The record raises significant questions as to whether those proposed divestitures were in fact 'sham' transactions...substantial and material questions of fact exist regarding whether: (1) Sinclair was the real party in interest to the sale of WGN-TV, KDAF (a Dallas station), and KIAH (a Houston station); (2) if so, whether Sinclair engaged in misrepresentation and/or lack of candor in its applications with the Commission; and (3) whether consummation of the overall transaction would be in the public interest, including whether it would comply with Section 73.3555 of the Commission's rules, the broadcast ownership rules," the order states. Reference Link

SBGI

Sinclair Broadcast

$26.30

-1.05 (-3.84%)

TRCO

Tribune Media

$32.26

-1.83 (-5.37%)

  • 08

    Aug

  • 06

    Sep

SBGI Sinclair Broadcast
$26.30

-1.05 (-3.84%)

07/18/18
WELS
07/18/18
NO CHANGE
Target $40
WELS
Outperform
Sinclair Broadcast price target lowered to $40 from $50 at Wells Fargo
Wells Fargo analyst Marci Ryvicker lowered her price target for Sinclair Broadcast (SBGI) to $40 from $50 as the company's deal with Tribune Media (TRCO) appears "highly unlikely." The analyst reiterates an Outperform rating on Sinclair's shares.
07/18/18
WELS
07/18/18
NO CHANGE
Target $36
WELS
Market Perform
Tribune Media price target lowered to $36 from $42 at Wells Fargo
Wells Fargo analyst Marci Ryvicker lowered her price target for Tribune Media (TRCO) to $36 from $42 as the company's deal with Sinclair Broadcast (SBGI) appears "highly unlikely." The analyst reiterates a Market Perform rating on Tribune's shares.
07/18/18
BNCH
07/18/18
NO CHANGE
Target $52
BNCH
Buy
Benchmark says Sinclair chose 'most efficient option' to try to close deal
After Sinclair Broadcast (SBGI) announced it was amending its previously announced divestiture process to put what appear to be two of the three stations in question into a divestiture trust in an attempt to satisfy concerns voiced by FCC Chairman Ajit Pai, Benchmark analyst Daniel Kurnos said he thinks Sinclair has chosen "the best and most efficient option" to get the deal with Tribune Media (TRCO) closed. The real question now is whether or not this satisfies the character issues raised by Chairman Pai and the "ball is now firmly in the FCC's court," said Kurnos, who reiterates his Buy rating and $52 price target on Sinclair shares.
07/19/18
SPHN
07/19/18
DOWNGRADE
Target $37
SPHN
Equal Weight
Tribune Media downgraded to Equal Weight from Overweight at Stephens
Stephens analyst Kyle Evans downgraded Tribune Media (TRCO) to Equal Weight from Overweight after the FCC announced last night that it has adopt a Hearing Designation Order for the Sinclair Broadcast (SBGI) deal. He had hoped the revised divestiture plan would eliminate the need for an HDO, but now that it has been adopted he is more worried that there could be character issues standing in the way of the deal being closed. Evans lowered his price target on Tribune shares to $37 from $41.
TRCO Tribune Media
$32.26

-1.83 (-5.37%)

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IDYA

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MDT

Medtronic

$89.02

1.22 (1.39%)

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Hormel Foods

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BBY

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BJ

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HFC

HollyFrontier

$42.69

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PS

Pluralsight

$33.43

-0.58 (-1.71%)

, MSFT

Microsoft

$127.67

0.77 (0.61%)

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Pluralsight

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MSFT

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0.77 (0.61%)

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GTE

Gran Tierra

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-0.03 (-1.42%)

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PGR

Progressive

$80.47

0.44 (0.55%)

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CRM

Salesforce

$157.60

1.83 (1.17%)

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MRCY

Mercury Systems

$70.96

0.08 (0.11%)

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RNG

RingCentral

$122.58

0.14 (0.11%)

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LB

L Brands

$24.29

1.605 (7.08%)

, VIPS

Vipshop

$7.75

0.095 (1.24%)

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$24.29

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VIPS

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CPRT

Copart

$64.99

-0.91 (-1.38%)

CTRP

Ctrip

$37.78

-0.09 (-0.24%)

SNPS

Synopsys

$115.10

-0.63 (-0.54%)

AVP

Avon Products

$4.07

0.875 (27.39%)

GILD

Gilead

$67.25

0.73 (1.10%)

IOVA

Iovance Biotherapeutics

$17.71

1.5 (9.25%)

AMGN

Amgen

$173.23

3.61 (2.13%)

NTAP

NetApp

$62.58

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SCVL

Shoe Carnival

$29.65

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HTHT

Huazhu Group

$34.41

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Star Bulk Carriers

$8.13

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ONVO

Organovo

$0.78

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HMC

Honda

$25.54

-0.17 (-0.66%)

, TKTDY

Takata

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TKTDY

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  • 05

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DSNKY

Daiichi Sankyo

$0.00

(0.00%)

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  • 31

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SPOT

Spotify

$127.10

-5.06 (-3.83%)

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IDXX

Idexx Laboratories

$250.45

1.24 (0.50%)

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OMC

Omnicom

$79.79

-0.3 (-0.37%)

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BSX

Boston Scientific

$37.74

0.04 (0.11%)

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CTRP

Ctrip

$37.63

-0.24 (-0.63%)

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  • 22

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CTRP

Ctrip

$37.63

-0.24 (-0.63%)

18:02
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CTRP

Ctrip

$37.63

-0.24 (-0.63%)

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CE

Celanese

$100.10

-0.18 (-0.18%)

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XRAY

Dentsply Sirona

$54.64

-0.25 (-0.46%)

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SIM

Grupo Simec

$9.23

(0.00%)

17:55
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CPRT

Copart

$64.78

-1.12 (-1.70%)

17:51
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  • 23

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NVS

Novartis

$83.94

1.555 (1.89%)

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