Sinclair Broadcast Group Reportedly Close to Acquiring Tribune Media

JIM YOUNG/REUTERS

Sinclair Broadcast Group is close to acquiring Tribune Media, according to a report. Bloomberg reported on Sunday that the deal could be announced as soon as Monday, but cautioned that it could fall through. Sinclair, which leans conservative, would reportedly pay $45 a share for the company, valuing it at close to $4 billion. Sinclair and Tribune did not yet comment on the report. The potential deal comes after the Federal Communications Commission acted last month to ease regulations on television ownership. 21st Century Fox and Nexstar Media Group were also reportedly bidding for Tribune.

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SOURCE: The Daily Beast Cheat Sheet