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TRCO

Tribune Media

$36.75

0.08 (0.22%)

, SBGI

Sinclair Broadcast

$28.70

-0.35 (-1.20%)

16:58
08/29/18
08/29
16:58
08/29/18
16:58

Tribune calls Sinclair's counterclaim 'entirely meritless'

Tribune Media (TRCO) issued the following statement regarding the lawsuit filed against the company by Sinclair Broadcast Group (SBGI): "Sinclair's counterclaim to Tribune's complaint is entirely meritless and simply an attempt to distract from its own significant legal exposure resulting from its persistent violations of Tribune's contractual rights. As detailed in Tribune's complaint, Sinclair repeatedly and willfully breached its contractual obligations during what should have been a straightforward regulatory review process. Sinclair's misconduct culminated in its submitting to the Federal Communications Commission divestiture proposals that led the Commission to order a hearing on the fundamental issue of Sinclair's lack of candor, thus ending any chance at merger approval in any reasonable timeframe. Tribune looks forward to holding Sinclair accountable in court."

TRCO

Tribune Media

$36.75

0.08 (0.22%)

SBGI

Sinclair Broadcast

$28.70

-0.35 (-1.20%)

  • 05

    Sep

  • 06

    Sep

TRCO Tribune Media
$36.75

0.08 (0.22%)

07/31/18
EVER
07/31/18
INITIATION
Target $40
EVER
Outperform
Tribune Media initiated with an Outperform at Evercore ISI
Evercore ISI analyst David Joyce initiated Tribune Media with an Outperform and $40 price target.
07/27/18
SPHN
07/27/18
NO CHANGE
SPHN
Reported DOJ investigation likely to pressure broadcaster stocks, says Stephens
After The Wall Street Journal reported yesterday that the Department of Justice is investigating whether TV station owners violated antitrust law in ways that inflated local ad prices, Stephens analyst Kyle Evans said that the negative news is likely to further pressure a group that he sees being "hard to own in any quarter." Evans added that, in his view, any miss within the group seems to drag them all down. Publicly traded broadcasters include Sinclair (SBGI), Tribune Media (TRCO), Gray Television (GTN), Nexstar (NXST) and Tegna (TGNA).
07/27/18
WELS
07/27/18
NO CHANGE
WELS
DOJ broadcast investigation unlikely to be material, says Wells Fargo
Wells Fargo analyst Marci Ryvicker says her conversions with industry contacts indicate the Department of Justice investigation into various television groups for alleged ad-rate collusion is unlikely to be material. The investigation likely stemmed from the DOJ's review of the Sinclair Broadcast (SBGI), Tribune Media merger, Ryvicker tells investors in a research note. She believes high levels of conversations about business likely drove the investigation and that it will be tough to prove that this lead to price fixing.
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.
SBGI Sinclair Broadcast
$28.70

-0.35 (-1.20%)

07/31/18
EVER
07/31/18
INITIATION
Target $34
EVER
In Line
Sinclair Broadcast initiated with an In Line at Evercore ISI
Evercore ISI analyst David Joyce initiated Sinclair Broadcast with an In Line and $34 price target.

TODAY'S FREE FLY STORIES

CVX

Chevron

$117.93

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PRO

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AKAO

Achaogen

$0.00

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AMZN

Amazon.com

$1,902.53

1.81 (0.10%)

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PRO

Pros Holdings

$45.06

-0.25 (-0.55%)

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Earnings
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BC

Brunswick

$48.51

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PETX

Aratana Therapeutics

$3.45

0.03 (0.88%)

, ELAN

Elanco

$32.42

0.33 (1.03%)

08:26
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Conference/Events
Elanco Animal Health to hold a conference call »

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PETX

Aratana Therapeutics

$3.45

0.03 (0.88%)

ELAN

Elanco

$32.42

0.33 (1.03%)

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TSLA

Tesla

$247.51

-11.19 (-4.33%)

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Periodicals
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GT

Goodyear Tire

$19.56

-0.54 (-2.69%)

08:23
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Hot Stocks
Breaking Hot Stocks news story on Goodyear Tire »

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  • 26

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F

Ford

$9.41

-0.17 (-1.77%)

08:22
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Periodicals
DOJ opens criminal investigation into Ford, Reuters reports »

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ZFGN

Zafgen

$2.55

0.17 (7.14%)

08:22
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$DJT

DJ Transportation Average

$0.00

(0.00%)

08:20
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DJ Transportation Average: Pivot points »

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$DJU

DJ Utility Average

$0.00

(0.00%)

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DJ Utility Average: Pivot points »

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DJX

Dow Jones Industrial Average

$0.00

(0.00%)

08:20
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Dow Jones Industrial Average: Pivot points »

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IYT

iShares Transportation Average

$194.95

-4.58 (-2.30%)

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iShares Transportation Average: Pivot points »

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XLK

Technology Select Sector SPDR

$78.85

-0.03 (-0.04%)

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XLE

Energy Select Sector SPDR

$67.07

-0.23 (-0.34%)

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Energy Select Sector SPDR: Pivot points »

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XLY

Consumer Discretionary Sector SPDR

$119.70

-0.65 (-0.54%)

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XLB

S&P Select Materials SPDR

$56.60

-0.73 (-1.27%)

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XLU

Utilities SPDR

$58.03

0.245 (0.42%)

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XLP

Consumer Staples Sector SPDR

$56.47

-0.36 (-0.63%)

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Technical Analysis
Consumer Staples Sector SPDR: Pivot points »

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XLV

Health Care Select Sector SPDR

$88.19

0.97 (1.11%)

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Technical Analysis
Health Care Select Sector SPDR: Pivot points »

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IWM

iShares Trust Russell 2000 Index Fund

$156.75

-1.27 (-0.80%)

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GT

Goodyear Tire

$19.56

-0.54 (-2.69%)

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DIA

Diamonds Fund ETF

$264.58

-1.32 (-0.50%)

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