Sinclair, one of the country’s largest owners of local television stations, has offered to merge its broadcast TV business with Tegna, according to people familiar with the matter.
Tegna had been in advanced talks to sell itself to Nexstar Media Group, The Wall Street Journal reported earlier this month, and Tuesday announced it had agreed to a $6.2 billion deal with Nexstar.
Sinclair has proposed separating its Ventures business — which houses nontraditional broadcast media assets including the Tennis Channel and investments — and merging its remaining broadcast TV business with Tegna, in a deal that would value Tegna shares at around $25 to $30 apiece, the people said.
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