Anchorage likely realised they were going to get saddled with the increasingly unprofitable Regional TV stations, that nobody really wants.
If this deal had proceeded, ARN would have walked away with the cream off the top, while Anchorage would have acquired.. the rest.
The issue won't go away with another suitor.
SXL has some tough decisions to make now!
As a holder in both companies, I've got the popcorn ready for tomorrow morning.
Ann: A1N:Update on Non-Binding Indicative Proposal to Acquire SCA, page-18
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