Sinclair Broadcast Group has reached an agreement to buy Tribune Media Co. for $3.9 billion in a deal that brings together the parent companies of several Missouri television stations.
Tribune Media owns 42 stations, including KTVI Fox 2 and KPLR CW 11 in St. Louis and WDAF Fox 4 in Kansas City.
Sinclair’s properties include KBSI Fox 23 and WDKA 49 in Cape Girardeau, KCRG CBS 13 in mid-Missouri, KHQA CBS 7 in Hannibal, KTVO ABC 3 in Kirksville and KDNL ABC 30 in St. Louis.
Baltimore-based Sinclair will pay $43.50 a share for Chicago-based Tribune Media, and will assume about $2.7 billion in Tribune debt.
The combined company will become a TV broadcasting giant, with 233 television stations in 108 markets, before any required divestitures by the FCC.
Combined the companies would collectively reach more people in the U.S. than the Federal Communications Commission allows. Broadcast groups aren’t allowed to reach more than 39 percent of U.S. households. The Trump administration, Congress or the FCC, however, could raise the threshold or give the companies a waiver.
Read more: St. Louis Business Journal