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Michael Huynh / Flickr cc

The price tag: $3.9 billion, in addition to Sinclair assuming $2.7 billion in debt from Tribune Media, per The Street.

Why it matters: The deal further solidifies Sinclair's already massive hold on the local TV broadcast industry. Sinclair is currently the largest local TV broadcasting company with 173 TV stations around the country. The acquisition of Tribune gives them 42 more, extending Sinclair's reach to more TV markets in New York, Chicago, and Miami. Sinclair will also gain access to Tribune's cable channel, WGN America, and the roughly 30% stake Tribune has in the Food Network and CareerBuilder.com.

How we got here: The deal was made possible because of an FCC ruling that voted to reduce the limits on broadcast ownerships, easing the way for broadcast consolidation within the declining TV industry.

Go deeper

Biden explains justification for Syria strike in letter to Congress

Photo: Chris Kleponis/CNP/Bloomberg via Getty Images

President Biden told congressional leadership in a letter Saturday that this week's airstrike against facilities tied to Iranian-backed militia groups in Syria was consistent with the U.S. right to self-defense.

Why it matters: Some Democrats, including Sens. Tim Kaine (D-Va.) and Chris Murphy (D-Conn.) and Rep. Ro Khanna (D-Calif.), have criticized the Biden administration for the strike and demanded a briefing.

2 hours ago - Health

FDA authorizes Johnson & Johnson's one-shot COVID-19 vaccine for emergency use

Photo: Illustration by Pavlo Gonchar/SOPA Images/LightRocket via Getty Images

The Food and Drug Administration on Saturday issued an emergency use authorization for Johnson & Johnson's one-shot coronavirus vaccine.

Why it matters: The authorization of a third coronavirus vaccine in the U.S. will help speed up the vaccine rollout across the country, especially since the J&J shot only requires one dose as opposed to Moderna and Pfizer-BioNTech's two-shot vaccines.

Updated 2 hours ago - Politics & Policy

Coronavirus dashboard

Illustration: Annelise Capossela/Axios

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