Tribune Media Co was to be acquired by Sinclair Broadcast Group for $3.9 billion.

On Thursday, Tribune Media Co has terminated its $3.9 billion deal to be acquisition by Sinclair Broadcast Group, citing regulatory hurdles.

Federal Communications Commission (FCC) Chairman Ajit Pai had raised concerns about the acquisition.

It has also filed a lawsuit against Sinclair, alleging material breach of contract, said Tribune in a statement.

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