Buyout firm Apollo Global Management LLC (APO.N) has teamed up with regional TV station owner Northwest Broadcasting in its bid to acquire another U.S. TV station owner, Tribune Media Co (TRCO.N), people familiar with the matter said on Wednesday.

Tribune, which has a market value of about $3.5 billion, put itself on the auction block three months ago, after its $3.9 billion sale to peer Sinclair Broadcast Group Inc (SBGI.O) failed to get regulatory clearance.

Apollo is now competing against Nexstar Media Group Inc (NXST.O) in the auction for Tribune, the sources said. Final bids were submitted earlier this week, and a deal for the sale of Tribune could come in early December, the sources added.

READ FULL ARTICLE HERE