Nexstar Media Group announced Monday it will buy Tribune's 42 television stations and cable network in an all-cash $4.1 billion deal. The merger will form the nation's largest TV station company. Tribune's stock (TRCO) is surging 10% in premarket trading.
[...] The sheer size of Nexstar will massively enlarge the Texas-based media company. If approved, the combined company will own more than 200 TV stations and cover 39% of US households.
Nexstar will now gain a foothold in major markets, including New York, Los Angeles and Chicago for the first time, plus a cable channel (WGN America) and a 31% stake in the Food Network.
See also: ACA: Without Conditions, Nexstar-Tribune Should Be Nixed [broadcastingcable.com]
Nexstar, Tribune TV deal poses test for Trump regulators [thehill.com]
Nexstar Attracts Interest for Stations Sale That's Part of Tribune Deal [bloomberg.com]
Previously: FCC Reopens its Review, Solicits Public Comments on Sinclair-Tribune Merger Until 2018-07-12 [soylentnews.org]
FCC Chairman Defends Decision to Refer Sinclair-Tribune Deal to Administrative Law Judge [soylentnews.org]
Trump Criticizes FCC for Moving to Block Sinclair-Tribune Merger [soylentnews.org]
Tribune Media Withdraws from Sinclair Merger; Sues for $1 Billion [soylentnews.org]