Sinclair Broadcast Group announced on Monday that it will purchase Tribune Media for $3.9 billion, CNBC reported.
Sinclair will acquire all of the shares of Tribune for $43.50 while also becoming responsible for $2.7 billion worth of debt.
Anticipation of the deal drove conversation on Twitter.
Tribune media owns and operates 42 different broadcast news affiliate stations, as well as the cable network WGN America, Tribune Studios and WGN-Radio.
Sinclair owns, operates, or provides services to 173 television stations and has a market capitalization of $3.36 billion.
The move comes weeks after the U.S. Federal Communications Commissions reversed a 2016 decision on limiting the number of TV stations that a broadcaster may purchase.
The purchase sparked discussion of past controversies involving Sinclair.
"This is a transformational acquisition for Sinclair that will open up a myriad of opportunities for the company," Sinclair CEO Chris Ripley said in a statement. "The Tribune stations are highly complementary to Sinclair's existing footprint and will create a leading nationwide media platform that includes our country's largest markets."
Circa is a property owned by the Sinclair Broadcast Group.