Nexstar to buy Tribune Media in $4.1BN deal | Major Businesses | Business
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Months after its proposed merger with Sinclair Broadcast Group collapsed in rancour and writs, Tribune Media has agreed to an acquisition valuing it at $46.50 per share, $4.1 billion, by Nexstar in a deal that would make the media group the largest US local TV operator.
TRibuneMedia 3Dec2018
Nexstar already owns, operates, programmes or provides sales and other services to 171 US TV stations reaching 100 markets or approximately 38.7% of all US television households. The company says that its mission is to use local US reach to bring services and value to consumers and advertisers through its television, digital and mobile media platforms. its portfolio includes all primary major network affiliates, including ABC, CBS, NBC, Fox and The CW, as well as multicast affiliates Telemundo, Me-TV and Bounce TV.

Tribune Media comprises Tribune Broadcasting’s 42 owned or operated local television stations in the US reaching approximately 50 million households, national entertainment cable network WGN America, whose reach is more than 77 million households and which has just boosted its original content slate, and a variety of digital applications and websites commanding 54 million monthly unique visitors online.

After the deal is closed, Nexstar will be the largest owner of TV stations in the US by volume with more than 200 outlets.

The acquisition also comes only days after Tribune Media subsidiary Tribune Broadcasting reached agreement with Altice on carriage and retransmission consent. The agreement enabled Altice USA to continue carrying Tribune local televisions stations across the country and provides for carriage of Tribune's cable entertainment network WGN America. Specific terms of the agreement were not disclosed.