Fox, Blackstone in talks to make joint bid for Tribune
NEW YORK: Twenty-First Century Fox Inc is in talks with Blackstone Group LP about submitting an offer to buy Tribune Media Co, one of the largest United States television station operators, said sources familiar with the matter.
Blackstone, the largest manager of private equity and real estate assets, would provide the cash, while Fox, the owner of Fox News Channel and other assets, would provide the TV stations for the joint venture, said a source.
Another source, also speaking on condition of anonymity, said bids are due on Thursday.
The Financial Times first reported the negotiations.
Nexstar Media Group Inc has also been carrying out due diligence on Tribune Media, and is weighing a bid this week, said two sources.
Sinclair Broadcast Group Inc is also bidding for Tribune Media, Reuters noted in March. Reuters