Business Corpus: Tribune, Rite Aid May Look For New Buyers Soon After Merger BreakupsTribune called off its deal with Sinclair Thursday, while Rite Aid and privately held Albertsons announced they are ending their merger late Wednesday. The post Tribune, Rite Aid May Look For New Buyers Soon After Merger Breakups appeared first on Investor's Business Daily.

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Tribune (TRCO) called off its deal with Sinclair Broadcast (SBGI) Thursday, while Rite Aid (RAD) and privately held Albertsons announced late Wednesday they are ending their merger. But both Tribune and Rite Aid could be looking for new buyers soon.

Tribune-Sinclair Merger

Tribune said it's suing Sinclair for breach of contract, claiming it didn't do enough to help get the $3.9 billion deal past regulators.

In July, the Federal Communications Commission called into questioned some of Sinclair's proposed divestments saying there was a high likelihood they were "'sham' transactions."

"Our merger cannot be completed within an acceptable timeframe, if ever," said Tribune CEO Peter Kern in a statement.

21st Century Fox (FOXA) and Nexstar Media (NXST) were also pursuing Tribune before the Sinclair deal, and analysts expect Tribune to look for another buyer.

Tribune shares rose 1% to 34.05 in premarket trading on the stock market today. Sinclair fell 3% to 26.25.

Rite Aid-Albertsons Merger

Rite Aid ended its $24 billion merger with grocery chain Albertsons after shareholders believed the deal undervalued the pharmacy.

"We have heard the views expressed by our stockholders and are committed to moving forward and executing our strategic plan as a standalone company," Rite Aid CEO John Standley said in a statement.

In 2015, Walgreens Boots Alliance (WBA) reached a deal to buy Rite Aid, but regulators blocked the merger on antitrust laws. Instead of a merger, Rite Aid agreed to sell just some of its stores to Walgreens.

With a reduced number of stores, Rite Aid will likely be looking for another buyer to increase its scale.

"After the sell-off of stores to Walgreens, it lacks scale," Neil Saunders, managing director of GlobalData Retail, told CNN Money. "Given that scale is now more critical than ever in the pharmacy and health market, it will no doubt be casting around for another entity with which it can combine."

Rite Aid tumbled 8.6%. Walgreens was flat.

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