Tribune Calls Off $3.9B Buyout By Sinclair

NEW YORK (AP) — Tribune withdrew from its $3.9 billion buyout by Sinclair, ending a bid to create a massive media juggernaut that could have rivaled the reach of Fox News.
Tribune Media Co., which is on the hook for a $135 million breakup fee, said Thursday that it is filing a lawsuit against Sinclair, citing breach of contract.
Sinclair Broadcast Group Inc. wanted the Chicago company’s 42 TV stations and had agreed to dump almost two dozen of its own to score approval by the Federal