Nexstar Media Group’s proposal to take over Tribune’s TV stations has gotten the approval of the FCC.
- Nexstar will pay $4.1 billion for Tribune Media’s 47 stations plus WGN America and other assets.
- The resulting company, which will be called Nexstar-Tribune Media, will be the largest TV station ownership group in the country.
- In order to meet regulatory guidelines and approval, Nexstar will sell 19 stations in markets where the new corporate structure would result in the company owning too many stations.
- The deal was first announced in December 2018.
- In August 2018, a merger between Tribune and Sinclair was canceled.