logo
Plus   Neg
Share
Email

Nexstar Media Reportedly To Buy Tribune Media For About $4.1 Bln

Nexstar Media Group Inc. (NXST) has reached an agreement in principle to buy Tribune Media Co. for about $4.1 billion, according to reports citing a person familiar with the matter.

The deal is expected to be announced as early as Monday, the report said.

The acquisition would add Tribune Media's 42 stations in major markets to Nexstar's portfolio of about 175 TV stations in cities including San Francisco, Phoenix and Tampa, Fla.

Nexstar's deal comes about four months after regulators effectively blocked Sinclair's purchase of Tribune. Sinclair last year struck a deal to buy Tribune Media for $3.9 billion, but Tribune Media terminated the merger in August after Federal Communications Commission Chairman Ajit Pai raised legal concerns about the proposed tie-up.

For comments and feedback contact: editorial@rttnews.com

Business News

Quick Facts

Editors Pick
Southwest Airlines Co. said it will investigate whether a dispute with its mechanics union was the cause of an "unprecedented number" of out-of-service aircraft that resulted in flight cancellations and flight delays. Southwest Airlines COO Mike Van de Ven said in a statement that the airline has been negotiating with Aircraft Mechanics Fraternal Association or AMFA for more than six years. Shares of Air France-KLM Group were gaining around 4 percent in Paris trading after the airline reported Wednesday narrower net loss in its fourth quarter with improved revenues. For fiscal 2019, Air France-KLM Group plans to selectively grow capacity for the Passenger network by 2 percent to 3 percent compared to 2018. The company also said it will pursue initiatives to reduce unit costs. Walmart Inc. (WMT) reported adjusted EPS of $1.41 for the fourth-quarter of fiscal 2019. On average, 27 analysts polled by Thomson Reuters expected the company to report profit per share of $1.33 for the quarter. Analysts' estimates typically exclude special items. Net income attributable to Walmart...
Follow RTT