United States

Nexstar is leading bidder for TV-station giant Tribune Media

Nexstar Media Group has emerged as the leading bidder for Tribune Media as it angles for a deal to create the nation’s biggest owner of local TV stations, The Post has learned. Sources said Irving, Texas-based Nexstar, which owns 171 stations nationwide, looks poised to edge out rival Apollo Global Management, which recently teamed up for a bid with Michigan-based TV-station owner Northwest Broadcasting. One person close to the talks said it appears Tribune is set to fetch more than $43 a share — the price that conservative-leaning TV giant Sinclair Broadcasting had offered for Tribune before its deal got scuttled by the Justice Department in August. Shares of Tribune on Friday were recently trading at $40.15, up 26 cents, giving ...