Deals
Fox Is Playing Offense and Defense in Tribune Takeover Bid
- Proposals said to be due Thursday for owner of Fox stations
- Sinclair, Nexstar also said to be preparing bids for Tribune
Fox, Blackstone Said in Talks to Buy Tribune
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21st Century Fox Inc.’s bid to combine its local TV stations with Tribune Media Co. would solve a lot of problems at once for Rupert Murdoch.
The proposal, with funding from Blackstone Group LP, would help Fox prevent Sinclair Broadcast Group Inc. from buying Tribune and gaining bargaining power by owning 28 percent of the nation’s Fox affiliate stations. It would also help Fox reduce its debt and obtain an infusion of cash that could surpass $1 billion.