Tribune Media Co. withdrew from a proposed $3.9 billion merger deal with Sinclair Broadcast Group Inc. Tribune officials also filed a lawsuit seeking compensation for losses incurred as a result of "Sinclair's material breaches" of the merger agreement. The Federal Communications Commission last month sent the deal to a hearing after citing possible misrepresentations or lack of candor in some proposed station divestitures on the part of Sinclair. Read more from Bloomberg.