Shares of Sinclair Broadcast Group and Tribune Media surged Wednesday amid speculation about a possible deal between the two television station owners.
Neither Hunt Valley-based Sinclair nor Tribune would comment, but Reuters reported that Sinclair had approached Tribune about possible combinations, citing anonymous sources.
Analysts said consolidation between the two companies makes sense, as Sinclair has been on a buying spree in recent years and has said it plans more acquisitions, while Tribune Media is for sale. Both are increasingly competing with Facebook and Google for viewers and advertisers.
"They're trying to take traditional media outlets and combine...