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Sinclair Broadcast Group Inc. (SBGI) is aiming to acquire Tribune Media Co., (TRCO) owner of TV stations in big media markets including New York, Chicago and Miami, for a per-share price in the high $30s, according to people familiar with the matter.
Update(s):
May 01, 2017: 21st Century Fox Inc., the media conglomerate controlled by Rupert Murdoch, is teaming with Blackstone Group LP to make an offer to acquire TV-station owner Tribune Media Co., rivaling a planned bid by Sinclair Broadcast Group Inc., people familiar with the situation said.
May 08, 2017: TV station giant Sinclair Broadcast Group Inc. (SBGI) is close to a deal to acquire Tribune Media Co. (TRCO) for close to $4 billion, a person familiar with the matter said.
May 08, 2017: Sinclair Broadcast Group, Inc.(SBGI) and Tribune Media Company (TRCO) today announced that they have entered into a definitive agreement under which Sinclair will acquire 100% of the issued and outstanding shares of Tribune for $43.50 per share, for an aggregate purchase price of approximately $3.9 billion, plus the assumption of approximately $2.7 billion in net debt.