Tribune up as Sinclair Broadcast considers high-30s bid

|About: Sinclair Broadcast Group, ... (SBGI)|By:, SA News Editor

Tribune Media (NYSE:TRCO) is on its way up, +1.7%, on word from Bloomberg that Sinclair Broadcast Group (NASDAQ:SBGI) is aiming to buy Tribune at a price of "high 30s" per share.

Tribune Media closed at $37.70 yesterday.

Sinclair is working to seal a deal on or before Tribune's Q1 earnings report, set for the week of May 8, sources tell Bloomberg.

Updated 3:17 p.m.: SBGI is spiking as well, up 3.8%.