Sinclair (SBGI) has offered to combine its broadcast TV unit with Tegna (TGNA) in a deal that would value Tegna shares at $25-$30 apiece, the Wall Street Journal’s Lauren Thomas and Joe Flint report, citing people familiar with the matter. The news comes as Tegna is already in advanced discussions to sell itself to Nexstar (NXST), the authors note. Sinclair has proposed spinning off its Ventures business, which includes assets such as the Tennis Channel, and merging its remaining broadcast TV business with Tegna, the authors say.
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