Sinclair Broadcast Group is close to a ideal to acquire the American TV station operator Tribune Media Co., Reuters reported on Sunday.
Chicago-based Tribune Media operates 42 TV stations and WGN radio, and reaches more than 43 percent of the nation including major markets like New York, Chicago and Miami. Sinclair currently operates 171 TV stations in 81 markets, mostly in the South and Midwest.
According to Reuters, Sinclair offered $45 per share for the company, or roughly $4 billion. Tribune Media’s publicly traded shares closed at $40.29 on Friday.
The deal would be the first major acquisition of a TV broadcasting group announced since the Federal Communications Commission voted last month to overturn a 2016 decision limiting the number of television stations some broadcasters can own.