Sinclair Broadcast Group Inc. received bids for as many as 10 television stations that could fetch up to $1 billion as it takes steps to win approval of its proposed merger with Tribune Media Co., people familiar with the matter said.
Preliminary bids for the stations were submitted last week, said one of the people, who asked not to be identified because the process wasn’t public. Sinclair may sell some or all of the outlets, all in different markets, the people said.