May 5, 2017 Comments Off on Blackstone Joins 21st Century Fox Bid for Tribune Media Views: 789 Connect Classroom, National News

Blackstone Joins 21st Century Fox Bid for Tribune Media

21st Century Fox’s bid to take over Tribune Media received a boost in the form of a cash infusion from Blackstone Group. The move could help counter a rival bid from Sinclair Broadcast Group.

The FCC is deciding whether to reinstate the UHF discount, which loosens ownership limits and could lead to more consolidation within the TV industry.

Chicago-based broadcaster Tribune likes the FCC changes because, it says, they will allow them to be more competitive. Tribune owns 42 stations, including the most Fox affiliates of any station owner. New York-based 21st Century Fox operates 28 stations.

Hunt Valley, MD-based Sinclair is the nation’s largest TV station operator, with 173 television stations.

Bids were due this week.

Read more at NY Times

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