Sinclair Broadcast Group’s $3.9 billion deal to acquire Tribune Media marks the first in what’s expected to be a frenzy of media and telecom dealmaking under the looser regulatory climate of the Trump administration. The deal was made possible by a rule change under Ajit Pai, the newly installed chief of the U.S. Federal Communications Commission. The new broadcasting behemoth will have greater bargaining power over pay-TV distributors and major broadcast networks, as well as the size to face down online competitors vying for more of the local advertising pie. Cigna can walk away from its merger with Anthem, a Delaware judge ruled almost three months after another court blocked the deal. The ruling means that Anthem could be on the hook for $1.85 billion in breakup fees and $13 billion in damages to Cigna, which argued that its would-be partner refused to acknowledge that concerns about competition were insurmountable.