- Tribune Media (TRCO +1.6%) is getting a bit of a midday lift with the New York Post reporting it's set to draw more than $43/share from a number of buyout bidders.
- That's the price Tribune was set to get from Sinclair Broadcast Group (NASDAQ:SBGI) before regulators put a kibosh on that proposed deal. TRCO is currently at $40.51/share.
- Nexstar Media Group (NXST +0.6%) is in the lead, according to the report, amid a once-crowded field that also includes a team of Apollo (APO -1.7%) and Northwest Broadcasting, and other bidders including Tegna (TGNA -2%).
- The bloc of ION Media, Tom Hicks and Cerberus has dropped out, according to the report, as has Byron Allen after he failed to line up backers.
- Nexstar (owner of some 171 stations) could present its own regulatory risk to the deal, however; the combo would unseat Sinclair as the biggest local station owner in the country.
- Previously: Tribune Media +6% as Apollo reportedly teams up on bid (Nov. 28 2018)
- Previously: Report: ION Media, Cerberus, Hicks team on Tribune bid (Nov. 13 2018)
- Now read: Digital Turbine - Extremely Cheap Valuation For A Fast Growing Software Company
Original article