Telecommunications company Sinclair Broadcast Group is close to an agreement to buy rival TV station operator Tribune Media.
The New York Times reports (http://nyti.ms/2pW08TO) talks were continuing Sunday and a deal may be announced Monday. The newspaper is citing unnamed officials who they say were briefed on the matter.
Fox News owner 21st Century Fox and a New York investment firm were recently in talks to buy Tribune, seeking to acquire Tribune-owned local TV stations including WGN in Chicago and PIX 11 in New York.
The newspaper reported that Sinclair beat out competitors with a $44-per-share bid, valuing Chicago-based Tribune at about $3.8 billion.
Tribute spokesman Gary Weitman declined comment. Spokespeople for Sinclair, based in Hunt Valley, Maryland, couldn’t be reached for comment.