Sinclair’s board approved a buyback of as much...

Sinclair’s board approved a buyback of as much as $150 million of the broadcaster’s stock, after an existing authorization with $47 million remaining is used, said the company in a news release Thursday (http://bit.ly/1pfpzae). The stock fell 9.1 percent Monday, when an analyst downgraded the sector on worries that TV station deals will be harder if the FCC approves at its March 31 meeting an order requiring some station sharing agreements be attributed for ownership quotas. (See separate report above in this issue.) Thursday, Sinclair closed up 3.8 percent to $27.03.