Fox, Black­stone in talks to make joint bid for Tri­bune

New Straits Times - - Business -

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

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