Tribune Media plunges after FCC says it has 'serious concerns' about Sinclair's 3.9 billion purchase of the company TRCO, SBGI
Get the Full StoryMarkets InsiderSinclair's 3.9 billion takeover of Tribune Media may be in jeopardy.
Trading of Tribune stock was halted twice as it fell more than 17 Monday following comments from the FCC.
"Based on a thorough review of the record, I have serious concerns about the Sinclair Tribune transaction," chairman Ajit Pai said in a statement.
Follow Tribune Media's stock price in real-time here.
Shares of Tribune Media plunged as much as 17 Monday after the Federal Communications Commission said it had serious concerns about its proposed acquisition by Sinclair Broadcasting Group.
"Based on a thorough review of the record, I have serious concerns about the Sinclair Tribune transaction," chairman Ajit Pai said in a statement.See the rest of the story at Business InsiderNOW WATCH: What happens when you hold in your pee for too longSee Also:The ugliest building in every US state, according to people who live thereA woman who has reviewed more than 40,000 r sum s outlines the 8 most annoying mistakes she seesThe Justice Department will appeal the 85 billion AT&T-Time Warner merger
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