The company's S-1 lays the groundwork for what is widely expected to be one of the largest initial public offerings of the year, second only to Uber's IPO in May. It's also...Technologyread more
Fraud investigator Harry Markopolos' accusations extended beyond GE's management to actuaries, auditors and analysts who he claims overlooked billions in liabilities.Marketsread more
Trump's tweet comes a day after Apple put out a press release describing the money it spends on U.S.-based suppliers and vendors.Technologyread more
CNBC combed through Wall Street research to see which stocks are still a buy after their earnings reports.Marketsread more
President Donald Trump held a call on Wednesday with the CEOs of three major U.S. banks, according to people with knowledge of the situation.Marketsread more
Despite aggressive strides, Waymo needs one thing before their self-driving cars become a seriously useful transportation system: people. We talked to the ones closest to it.Technologyread more
Scientists say the smoke plumes, filled with megatons of tiny, harmful particles, could travel to other areas of the world and cause serious respiratory problems for people.Weather & Natural Disastersread more
Some Weight Watchers loyalists applaud Kurbo by WW. But nutritionists worry Kurbo promotes an unhealthy relationship with food during an especially impressionable time.Health and Scienceread more
Benefits from what President Trump called "the biggest reform of all time" to the tax code have dwindled to a faint breeze just 20 months after its enactment, writes John...Politicsread more
Epstein, 66, was found in his cell in Manhattan federal lockup Saturday morning and transferred to a nearby hospital, where he was subsequently pronounced dead.Politicsread more
Air travelers faced delays at U.S. airports on Friday afternoon after a computer issue snarled processing of international arrivals.Airlinesread more
Final bids are due by Jan. 30, said the people, who asked not to be named because the process is private. A deal could fetch more than $2 billion, and possibly close to $3 billion, the people said.
Nexstar had also been interested in the stations but has bowed out after announcing a $4.1 billion deal for Tribune in December.
Cox, which is privately held, announced its intention to sell the stations in June. Broadcast TV stations have been consolidating for years as owners look for negotiating leverage against pay-TV providers, who pay them retransmission fees for the right to carry their stations. Owning a lot of stations gives owners more negotiating power because they can threaten to black out popular stations, such as NBC, CBS, ABC and Fox, to large swaths of people.
TEGNA split from Gannett Co. in 2015 after the media company separated its broadcast TV stations and several websites from its publishing assets. The company, with an enterprise value of $5.6 billion, is one of the largest U.S. broadcast TV owners with 49 stations in 41 states.
EW Scripps announced in October it had acquired 15 stations in 10 markets from Cordillera Communications for about $520 million, boosting its total amount of stations from 36 to 51. That deal could make the company less likely to win an auction for Cox, although it shouldn't preclude Scripps from making an offer, one of the people said.
Hearst, which is closely held, unlike publicly traded TEGNA and Scripps, owns 32 stations.
"It is clear that scale is critical for TV affiliates to be positioned well for the future," Cox Enterprises CEO Alex Taylor said in a statement when the company announced its intention to sell.
The stations include Atlanta's ABC affiliate, WSB-TV; Pittsburgh's NBC affiliate, WPXI; Boston's Fox affiliate, WFXT; and stations in cities around the U.S. including Seattle, Orlando and Memphis.
Spokespeople for Cox, TEGNA and Hearst declined to comment. A spokesperson for EW Scripps couldn't immediately be reached for comment.
With CNBC in the U.S., CNBC in Asia Pacific, CNBC in Europe, Middle East and Africa, and CNBC World, CNBC is the recognized world leader in business news and provides real-time financial market coverage and business information 410 million homes worldwide, including more than 90 million households in the United States and Canada. CNBC also provides daily business updates to 400 million households across China. The network's 15 live hours a day of business programming in North America (weekdays from 4:00 a.m. - 7:00 p.m. ET) is produced at CNBC's global headquarters in Englewood Cliffs, N.J., and includes reports from CNBC News bureaus worldwide. CNBC at night features a mix of new reality programming, CNBC's highly successful series produced exclusively for CNBC and a number of distinctive in-house documentaries.
CNBC Digital delivers more than 52 million multi-platform unique visitors each month. CNBC.com provides real-time financial market news and information to CNBC's investor audience. CNBC Make It is a digital destination focused on making you smarter about how you earn, save and spend your money by zeroing in on careers, leadership, entrepreneurship and personal finance.
CNBC has a vast portfolio of digital products, offering CNBC content to a variety of platforms such as: CNBC.com; CNBC PRO, a premium service that provides in-depth access to Wall Street; a suite of CNBC mobile apps for iOS and Android devices; Amazon Alexa, Google Assistant and Apple Siri voice interfaces; and streaming services including Apple TV, Roku, Amazon Fire TV, Android TV and Samsung Smart TVs. To learn more, visit https://www.cnbc.com/digital-products/.
Members of the media can receive more information about CNBC and its programming on the NBCUniversal Media Village Web site at http://www.nbcumv.com/programming/cnbc. For more information about NBCUniversal, please visit http://www.NBCUniversal.com.