(Reuters) – Rupert Murdoch-controlled Twenty-First Century Fox Inc is looking to finalize a deal to buy about 10 television stations from Sinclair Broadcast Group Inc, the Financial Times reported on Wednesday.
Sinclair is selling the channels to win regulatory approval for its deal to buy Tribune Media Co, the Financial Times said, citing people familiar with the matter. (on.ft.com/2Fk9jVv)
The report comes less than a month after Fox agreed to sell its film, television and international businesses to Walt Disney Co for $52.4 billion in stock.
The Sinclair channels being sold will include some in important U.S. National Football League markets, such as Seattle and Denver, to ease the regulatory process, the FT said.
The deal will also help Fox monetize its NFL rights better, the FT reported.
The sales will be in regions where Sinclair owns two “full power” stations, prohibited under the current Federal Communications Commission rules, the FT said.
Fox and Sinclair did not immediately respond to requests for comment.
(This version of the story corrects company name in first paragraph to “Sinclair Broadcast” from “Sinclair Broadcasting”)
Reporting by Arjun Panchadar in Bengaluru; Editing by Savio D’Souza
Read First From Source http://feeds.reuters.com/~r/reuters/companyNews/~3/wX-nU_Q7gmE/corrected-murdochs-fox-looking-to-buy-10-sinclair-tv-stations-ft-idUSL4N1P53N4
Learn More about Best Forex Signals