FOX IN TALKS WITH BLACKSTONE TO BUY TRIBUNE

Media giant 21st Century Fox is in talks with the private equity firm Blackstone to launch a joint bid for Tribune Media, The Fi

nancial Times reported Sunday. According to two people familiar with the negotiations, the two companies hope to beat a rival offer from Sinclair Broadcasting Group, the largest U.S. broadcaster.

Fox and Blackstone plan to form a joint venture for the acquisition, with Blackstone providing the cash and Fox putting in its own portfolio of stations.

New York-headquartered Tribune has 42 stations and WGN, and reaches more than 43% of the nation.