Tribune Calls Off $3.9B Buyout By Sinclair

NEW YORK (AP) — Tribune is withdrawing from its $3.9 billion buyout by Sinclair and it’s filing a lawsuit against it, citing breach of contract.
Tribune Media Co. would be on the hook for a $135 million breakup fee, according to the agreement reached last year.
The headquarters of the Sinclair Broadcast Group is shown in Hunt Valley, Maryland. (credit: Win McNamee/Getty Images)
Sinclair Broadcast Group Inc. had offered to buy the Chicago company’s 42 TV stations and had agreed