Tom Hicks Jr., chairman of the super PAC America First, which is aligned with President Trump, is expected to bid on Tribune Media, according to a report in the New York Post.
Tribune Media’s stock was up 1.5% to $38.16 in early Tuesday trading.
Hicks would be one of a number of expected suitors for Tribune Media, according to analysts, including TV station company Nexstar Media Group, as well as private-equity groups such as Apollo Global Management and Blackstone Group.
Tribune Media’s current market capitalization is $3.3 billion. Analysts expect an acquisition price for Tribune of an estimated $3.8 billion.
In July, the FCC blocked Sinclair Broadcast Group's $3.9 billion bid for Tribune Media. In August, Tribune Media sued Sinclair for $1 billion in damages.
Nexstar's stock was up 0.8% to $75.99 on Tuesday. Other TV station group stocks were also higher, with Sinclair rising 1.7% to $29.35 and Tegna adding 1.9% to $11.76.