Sinclair Down On Word Of Media Bureau Inquiry


U.S. financial markets finished Thursday’s trading on a mixed note, as the Dow Jones Industrial Average was off 10.24 points, to 26,526.58, while the Nasdaq was up 57.79 points, to 7,967.76.

Key movers include Nexstar, back over the $100, and Comscore, which dipped yet again.

For Nexstar Media Group, a $1.34 rise to $100.16 was seen.

At Comscore, another 4.5% of the stock value was shed, with a closing price of $5.32 reflecting a 25-cent drop from Wednesday.

Meanwhile, Sinclair Broadcast Group shares were down 67 cents, to $53.20, on news that the FCC Media Bureau has opened an investigation into whether the company misled the agency in its failed effort to win approval for a $3.9 billion bid to purchase Tribune Media Co.

The Bureau directed Sinclair to answer a number of questions by July 9; it was posted Wednesday but according to Reuters disappeared on Thursday.

In a statement to Reuters, an FCC spokesperson said, “Media Bureau is in the process of resolving an outstanding issue regarding Sinclair’s conduct as part of the last year’s FCC’s review of its proposed merger with Tribune. The Bureau believes that delaying consideration of this matter would not be in anyone’s interest.”