Apollo Global Management, LLC (NYSE:APO) has teamed up with Northwest Broadcasting in its bid to acquire Apollo Global Management, LLC (NYSE:APO), people familiar with the matter said on November 28, 2018. Apollo is now competing against Nexstar Media Group, Inc. (NasdaqGS:NXST) in the auction for Tribune, the sources said. Final bids were submitted earlier this week, and a deal for the sale of Tribune Media Company could come in early December, the sources added.

Should Nexstar not prevail in buying Tribune, it will turn its sights on buying 14 TV stations that privately held Cox Enterprises Inc has put up for sale, worth more than $2.5 billion, the sources said. The sources cautioned that no deal is certain and asked not to be identified because the matter is confidential. Apollo, Tribune, Nexstar, Northwest Broadcasting Limited Partnership, Sinclair, Cox and CVC did not immediately respond to requests for comment.