Twenty-First Century Fox in talks with Blackstone to buy Tribune

FILE PHOTO - The 21st Century Fox logo is seen outside the News Corporation headquarters in Manhattan, New York, U.S., April 29, 2016. REUTERS/Brendan McDermid/File Photo GLOBAL BUSINESS WEEK AHEAD PACKAGE - SEARCH 'BUSINESS WEEK AHEAD 6 FEB' FOR ALL IMAGES - RTX2ZRW7

NEW YORK Twenty-First Century Fox Inc (FOXA.O) is in talks with Blackstone Group LP (BX.N) about submitting an offer to buy Tribune Media Co (TRCO.N), one of the largest U.S. television station operators, sources familiar with the matter said on Sunday.

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, according to one of the sources.

Another source, also speaking on condition of anonymity, said bids are due on Thursday.

Representatives for Tribune Media and Blackstone declined to comment. Fox could not immediately be reached for comment. The Financial Times first reported the negotiations

read more- reuters

Be the first to comment

Leave a Reply