Fox to buy seven TV stations from Sinclair for about $910 million

(Reuters) - Twenty-First Century Fox Inc (NASDAQ: FOXA) said on Wednesday it agreed to buy seven television stations from Sinclair Broadcast Group Inc (NASDAQ: SBGI) for about $910 million.

The company said the deal would grow Fox Television Stations' coverage to nearly half of all U.S. households, and its market presence to 19 of the top 20, including the addition of key markets that align with Fox's sports rights.

The channels being acquired will allow Fox to gain access to important U.S. National Football League markets, including Seattle and Denver.

The sales are to allow Sinclair to gain the regulatory approval it needs to seal its purchase of Tribune Media (NYSE: TRCO).

(Reporting by Arjun Panchadar in Bengaluru; Editing by Shailesh Kuber)

---

Serious News for Serious Traders! Try StreetInsider.com Premium Free!

---

You May Also Be Interested In

• Short squeeze payback: Avis Budget gains 8% on massive $650M Pentwater settlement
• Buy gold stocks as valuations are cheap amid macro tension: BofA
• ITG targets $2.67 billion valuation in U.S. IPO