May 8 Broadcaster Sinclair Broadcast Group Inc
said on Monday it would buy Tribune Media Co
for about $3.9 billion cash and stock and assume about $2.7
billion in debt.
The $43.50 per share offer represents a nearly 8 percent
premium to Tribune's Friday close.
Reuters reported on Sunday saying the companies were close
to a deal.
The deal comes weeks after the U.S. Federal Communications
Commission voted to reverse a 2016 decision that limited the
number of television stations some broadcasters can buy.
(Reporting by Rishika Sadam in Bengaluru; Editing by Saumyadeb