Sinclair close to buying rival TV operator Tribune

Telecommunications company Sinclair Broadcast Group is close to an agreement to buy rival TV station operator Tribune Media.

The New York Times reports ( 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.