Interesting that now FOX is looking to kill their Sinclair deal and venture with ION when considering Sinclair has been rumored to want to create it’s Conservative network and has had talks with former FOX’er talent as people cry they don’t like FOX’s new direction towards the middle thanks to the Murdoch Bros – PB/TK
Fox Said in Talks With Ion to Dump Sinclair Affiliates – Newsmax / Aug 3 2017
21st Century Fox Inc. is in talks to operate local television stations across the U.S. with Ion Media Networks Inc., potentially paving the way for Fox to dump Sinclair Broadcast Group Inc. as an affiliate partner, a person familiar with the situation said.
Closely held Ion would contribute its more than 60 independent stations to the joint venture, while Fox would throw in its 28 local stations, which include big markets such as New York and Los Angeles. As part of the deal, Fox would consider switching its affiliation to Ion from Sinclair for 26 stations that are up for renewal this year, said the person, who asked not to be identified.
Fox may also seek to switch 14 stations owned by Tribune Media Co., which is being acquired by Sinclair, upon the change of control, the person said. By doing the deal as a joint venture, Fox could also retain some control over TV stations without having to include the slow-growing local-broadcast business in its financial statements.
While such a move would hurt Sinclair, RBC Capital Markets analysts Leo Kulp and Steven Cahall said there’s also reason to believe it may be a “negotiating ploy” by Fox. Sinclair, based in Hunt Valley, Maryland, didn’t respond to a request for comment outside of normal business hours, while Chicago-based Tribune declined to comment.
Continue to newsmax.com article: http://www.newsmax.com/Finance/StreetTalk/fox-ion-sinclair-tensions/2017/08/03/id/805536/
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