Tribune Media Company
Nexstar Media Group will purchase Tribune Media Company for $4.1 Billion. Due to this, it will make the company the most tremendous television station operator in America.
Nexstar, based in Texas, provides, possesses and furthermore, provides 174 television stations reaching nearly 39% of all US television households.
It is currently the second-largest television station owner in the United States. And it owns 171 television stations across the U.S. After acquiring Tribune Media Company, it will become the largest television station operator in the U.S by volume with more than 200 outlets. And the addition of Tribune stations will put Nexstar’s national reach well past the existing 39% limit.
Tribune’s 42 TV stations reach approximately 50 million households. And it retains WGN America on national cable, the national multicast networks Antenna TV and THIS TV, Tribune Studios and Chicago’s WGN-AM.
As a result, on Monday, the deal announces formally. And it is also said that Nexstar outbid Apollo Global Management to purchase Tribune Media Management.
Therefore, this is taking place three months after the Tribune’s sale to Sinclair Group failed. The reason being, regulatory hurdles.