“21st Century Fox is closing in on an agreement with Sinclair Broadcast Group to buy at least six TV stations, a transaction that stems from Sinclair’s pending $3.9 billion acquisition of Tribune Media,” Variety reports.
“The deal is understood to encompass Tribune-owned Fox affiliates in five markets — Seattle, Denver, Salt Lake City, Sacramento and Cleveland — and Tribune’s CW affiliate that serves the Miami market,” the report adds. “The pact also ensures [that] Sinclair will lock in long-term Fox Broadcasting Co. affiliation deals for dozens of other stations it owns that are currently Fox affiliates.”
The report notes that the fine points of the agreement are still being hammered out, with the possibility that more stations may be added.
“The sale is contingent on Sinclair closing its acquisition of Tribune Media,” Variety adds. “The regulatory review process on the Sinclair-Tribune merger is coming to a head at the FCC and Justice Department now that Sinclair has filed its plan for station divestitures. The Tribune acquisition will put Sinclair well over the limit of the FCC’s TV station ownership rules, forcing some divestitures.”