Rupert Murdoch’s 21st Century Fox (NASDAQ:FOXA) is finalizing the purchase of about 10 U.S. television stations from Sinclair Broadcast Group (NASDAQ:SBGI), three people familiar with the sale told the Financial Times.
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This deal would increase the number of channels operated by 21st Century Fox and would help Sinclair secure regulatory approval for its purchase of Tribune Media (NYSE:TRCO).
If Sinclair’s purchase of Tribune goes through, it will become the largest owner of local channels in the U.S.
Murdoch’s company is currently engaged in its own deal, and is selling its Twentieth Century Fox Film and Television studios and its cable and international TV businesses to Disney (NYSE:DIS) for $66.1 billion.
Murdoch will keep the Fox broadcast network, sports cable network and Fox News Channel, as well as a portfolio of local US television stations. As previously reported by FOX Business, immediately prior to the acquisition, 21st Century Fox will separate the Fox Broadcasting network and stations, Fox News Channel, Fox Business Network, FS1, FS2 and Big Ten Network into a newly listed company that will be spun off to its shareholders.
21st Century Fox is the parent company of FOX Business and Fox News.