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<p>Tribune Media Company, the parent copy of WNEP-TV, will be acquired by Sinclair Broadcast Group, according to a press release issued Monday.</p><p>The acquisition will cost Sinclair $3.9 billion dollars plus the assumption of approximately $2.7 billion in net debt, the release states.</p><p>In addition to WNEP, Tribune owns or operates 42 television stations, cable network WGN America, and antenna TV and has minority stakes in the Food Network and CareerBuilder in addition to a variety of real estate assets.</p><p>&#8220;This is a transformational acquisition for Sinclair that will open up a myriad of opportunities for the company,&#8221; Chris Ripley, president and CEO of Sinclair, said in the release. &#8220;The Tribune stations are highly complementary to Sinclair&#8217;s existing footprint and will create a leading nationwide media platform that includes our country&#8217;s largest markets. The acquisition will enable Sinclair to build ATSC 3.0 (Next Generation Broadcast Platform) advanced services, scale emerging networks and national sales, and integrate content verticals. The acquisition will also create substantial synergistic value through operating efficiencies, revenue streams, programming strategies and digital platforms.&#8221;</p><style>
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Parent company of WNEP to be acquired by Sinclair Broadcast Group