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Business

21st Century Fox close to buying Sinclair TV stations

By
Reuters
Published Jan. 10, 2018, 10:52 a.m. ET

Twenty-First Century Fox is looking to finalize a deal to buy about 10 television stations from Sinclair Broadcast Group, the Financial Times reported on Wednesday.

Sinclair is selling the channels to win regulatory approval for its deal to buy Tribune Media Co., the report said, citing people familiar with the matter.

The channels being sold will include some in important National Football League markets, such as Seattle and Denver, the FT said, adding that the sale will help Fox monetize its NFL rights better.

The sales will be in regions where Sinclair owns two “full power” stations, prohibited under the current Federal Communications Commission rules.

Fox declined to comment while Sinclair did not immediately respond to request for comment.

Fox’s move comes less than a month after it decided to sell its film, television and international businesses to Walt Disney Co. for $52.4 billion in stock.

Twenty-First Century Fox shares a common owner with News Corp., which owns The Post.