Twenty-First Century Fox in talks with Blackstone to buy Tribune


NEW YORK Twenty-First Century Fox Inc (FOXA.O) is in talks with Blackstone Group LP (BX.N) about submitting an offer to buy Tribune Media Co (TRCO.N), one of a largest U.S. radio hire operators, sources informed with a matter pronounced on Sunday.

Blackstone, a largest manager of private equity and genuine estate assets, would yield a cash, while Fox, a owners of Fox News Channel and other assets, would yield a TV stations for a corner venture, according to one of a sources.

Another source, also vocalization on condition of anonymity, pronounced bids are due on Thursday.

Representatives for Tribune Media and Blackstone declined to comment. Fox could not immediately be reached for comment.

The Financial Times initial reported a negotiations.

Nexstar Media Group Inc (NXST.O) has also been carrying out due industry on Tribune Media, and is weighing a bid this week, according to dual sources. Nexstar could not immediately be reached for comment.

Sinclair Broadcast Group Inc (SBGI.O) is also behest for Tribune Media, Reuters reported in March.

The intensity bid from Blackstone and Fox comes reduction than dual weeks after a U.S. Federal Communications Commission voted to retreat a 2016 preference that boundary a series of radio stations some broadcasters can buy.

(Reporting by Lauren Hirsch, Liana Baker and Jessica Toonkel in New York and Rama Venkat Raman in Bengaluru; Writing by Dan Freed in New York; Editing by Will Dunham)


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