Sinclair Broadcast Group is close to reaching a deal to buy Tribune Media Company, a major television station operator, according to a Sunday Reuters report.

Sinclair has reportedly offered almost $4 billion for the media company, which owns or operates 42 broadcast stations. Tribune Media also runs cable networks such as Tribune Studios, WGN America and WGN-Radio. Such a deal will help Sinclair Broadcasting expand its reach to more people and push its largely right-leaning agenda, Reuters said.

This deal comes weeks after the Federal Communications Commission reversed a 2016 decision that restricted how many television stations some broadcast companies could buy.

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Sinclair, which runs or services 173 television stations over 80 markets, has market capitalization is estimated to be $3.36 billion.

Tribune Media has a slightly higher market capitalization on Friday at $3.5 billion, after shares ended trading at $40.29 each.

Sinclair has Tribune stock valued higher, at $44 per share.

President Trump named Ajit Pai as the new FCC chairman in January. Pai is reviewing the limit imposed on companies owning stations.

Rupert Murdoch, who runs 21st Century Fox Inc., also looked to buy Tribune Media and expand his company’s broadcast assets.

But 21st Century Fox didn’t submit a bid, a source familiar with the matter told the news wire.

Negotiations between the companies are not yet finalized, and the deal could still fall through, sources told Reuters.

Tribune Media declined Reuters’ request to comment. Sinclair did not immediately respond to Reuters’ requests for comment.