on april 30, 2017, it was reported that 21st century fox was in talks to purchase tribune media in a joint venture with the blackstone group. on may 7, 2017, it was reported that sinclair broadcast group was nearing a deal to purchase tribune media, and that 21st century fox had dropped its bid for the company. the deal was officially announced the next day. (however, on august 9, 2018, tribune canceled the sinclair deal.) on august 2, 2017, it was reported that 21st century fox was in talks to form a similar joint venture with ion media in an effort to counter sinclair and displace fox affiliations from their stations; analysts felt that the proposed partnership was meant as a bargaining ploy against sinclair, as it would have to make significant investments into the acquired stations to make them profitable and capable of producing local news programming (ion stations have historically had few employees or local infrastructure), and that fox risked losing viewers through these transitions.