Sinclair Broadcast Group's (SBGI +1.5%) $3.9B buyout of Tribune Media (TRCO +0.7%) looks to be headed for Justice Dept. approval alongside some expected station sales to clear competition concerns.
The combination will need to sell about a dozen stations, The Wall Street Journal reports, and the list of markets is said to mirror markets that Sinclair had previously flagged for the FCC.
Those are areas where a combined company would otherwise have a commanding presence and include locations where the companies each have a top-four station, such as Salt Lake City and St. Louis.
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