Sinclair Proposes To Modify Allbritton Deal to Secure FCC Approval

Sinclair says it will restructure its Allbritton deal to make it more palatable to the Federal Communications Commission, which is looking closely at sharing agreements coupled with financial arrangements such as purchase options.

The FCC, under new chairman Tom Wheeler, has signaled tied arrangements such as those in the Sinclair/Allbritton deal would have a high hurdle and now Sinclair is offering to remove those hurdles in the interests of getting a deal done.

Sinclair said it was concerned about meeting the one-year July 27 date for closing the merger, after which it can be terminated from either side.