Those Tribune Media acquisition rumors just got a whole lot juicier!
A report by the Financial Times today has Rupert Murdoch and his 21st Century Fox teaming up with private equity powerhouse Blackstone for a joint bid on Tribune Media’s broadcast stations. Should the acquisition come to pass WSFL would become part of FOX Television Stations. And that can be (somewhat?) bad news for WSVN.
Granted, WSFL being an also ran with no news gathering facilities may not put the FOX affiliation with WSVN in jeopardy just yet, but rumor has it one reason for the merger is Murdoch wanting to spread the cost of sports rights (which cost FOX a small fortune) over more stations.
Murdoch and his sons also seem to be playing defense. With Tibune Media’s stations Sinclair would own 28% of FOX affiliates giving it unrivaled leverage when it comes time to negotiate reverse compensation with the network.
FT says Blackstone is providing all the cash for the deal while FOX would roll both the Tribune and the owned FOX Television Stations would into a new joint venture company.