WASHINGTON (dpa-AFX) - Media baron Rupert Murdoch's Twenty-First Century Fox Inc. is reportedly in talks to buy about 10 local television stations from Sinclair Broadcast Group Inc.
According to Financial Times, the company was in final stage of negotiations to buy about 10 local television stations. However, terms of the deal were not disclosed.
Last month, Fox had agreed to sell certain of its assets Walt Disney for about $52.4 billion. Under the deal, Disney will acquire 21st Century Fox, including the Twentieth Century Fox Film and Television studios, along with cable and international TV businesses.
Following the deal with Disney, 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.
For Sinclair, the sale of 10 local stations will help them approval from regulators for its proposed $3.9 billion acquisition of Tribune Media, which would make it the largest U.S. TV station owner.
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