Report: Fox Asked to Derail Sinclair-Tribune Merger

Bloomberg reports investors representing a consortium asked the media giant to intercede
Author:
Publish date:
Social count:
0
Sinclair copy.jpg

21st Century Fox is reportedly considering options to derail Sinclair Broadcast Group’s potential takeover of Tribune Media, despite not wanting to acquire the station group itself, according to Bloomberg.

In a report Friday, Bloomberg said Fox has been approached by parties interested in buying Tribune as part of a consortium including investor Starboard Value, which owns 4.4% of Tribune. Nexstar Media Group, which earlier this year closed its merger with Media General, is also considering a bid, Bloomberg said.

Although Fox isn’t interested in pursuing a Tribune acquisition, the company could influence a deal because it would have to approve the transfer of Tribune’s Fox affiliations to a new owner, according to Bloomberg. If Sinclair bought the group, it would own 28% of the country’s Fox affiliates, it said.

Related