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FT: Murdoch's Fox Looking to Buy 10 Sinclair TV Stations

FT: Murdoch's Fox Looking to Buy 10 Sinclair TV Stations
(Mohamed Ahmed Soliman | Dreamstime)

Wednesday, 10 January 2018 11:10 AM

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 report said, citing people familiar with the matter.

The channels being sold will include some in important U.S. 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.

Before Walt Disney’s acquisition, Fox will spin off into a newly listed company its Fox Broadcasting network and stations, Fox News Channel, Fox Business Network, sports channels FS1, FS2 and Big Ten Network.

© 2019 Thomson/Reuters. All rights reserved.

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