TV Broadcaster Sinclair Said to Seek Merger With Rival Tegna (1)

Sinclair Inc., one of the largest owners of television stations in the US, has offered to combine its broadcast TV business with rival operator Tegna Inc., according to a person with knowledge of the matter.

The broadcaster, based in Hunt Valley, Maryland, has proposed a deal that values Tegna at $25 to $30 a share, the Wall Street Journal reported earlier, citing people familiar with the matter. Tegna has been engaged in advanced merger talks with Nexstar Group Inc., another major station owner.

Sinclair announced last week that it’s undertaking a strategic review that could result in ...