Sinclair Broadcast Group Acquires Tribune Media for $3.9 Billion

Sinclair Broadcast Group confirmed Monday that it will acquire Tribune Media for roughly $3.9 billion. The soon-to-be parent corporation will also absorb $2.7 billion in debt from WGN America owner.

The price tag of just under $4 billion breaks down to $43.50 per share, which will pay out in a mixture of cash and stock. More specifically, TRCO shareholders will get $35 in cash and 0.23 shares of Sinclair Class A common stock for each share of Tribune Class A common stock and Class B common stock they own.

That $43.50 represents a 26 percent premium above what TRCO was trading for on February 28, 2017, which was the last day before media speculation of a sale.