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Reports: Nexstar clinches $4.1B deal to buy Tribune Media

Published 12/02/2018, 09:43 PM
© Reuters.  Reports: Nexstar clinches $4.1B deal to buy Tribune Media
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  • Nexstar Media (NASDAQ:NXST) reportedly has reached an agreement to acquire Tribune Media (NYSE:TRCO) for ~$4.1B, a deal which would make it the largest local U.S. TV station operator by adding TRCO's 42 stations to NXST’s portfolio of 174 stations.
  • NXST outbid P-E firm Apollo Global Management (NYSE:APO) with an all-cash offer that values TRCO at ~$46.50/share, Reuters reports, which also says the deal could be announced Monday.
  • A deal would propel NXST past rival Sinclair Broadcast Group (NASDAQ:SBGI), which owns more than 170 TV stations and struck a deal last year to buy TRCO for $3.9B that was terminated by TRCO after FCC Chairman Ajit Pai raised legal concerns about the proposed tie-up.
  • Now read: Favorable Trade Winds? (Stocks To Watch Podcast)


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