Fox, Blackstone seen teaming up to make competing bid for Tribune Media

Los Angeles

TWENTY-FIRST Century Fox Inc is teaming up with Blackstone Group LP to make an offer to acquire TV-station owner Tribune Media Co, rivalling a planned bid by Sinclair Broadcast Group Inc, people familiar with the situation said.

The all-cash bid would be funded by Blackstone while Fox would contribute its TV stations to the joint venture that would acquire Tribune, said one of the people, who declined to be identified because the talks are private. The two sides are in talks about a deal ahead of a deadline this week for final bids. No agreement has yet been reached.