Nexstar Has Closed its Deal to Buy Tribune Owned ABC, CBS, FOX, & NBC Locals - Cord Cutters News, LLC
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Your local TV station may soon have a new owner. Today Nextstar Media Group has closed on its purchase of Tribune Media Company for $6.4 billion. This deal will add more than 40 stations including KTLA in Los Angeles, WPIX in New York and WGN-TV in Chicago to Nexstar’s list of locals. (Note WGN-TV has been up for sale separately and it at the time of this posting its inclusion is uncertain.)
As part of the DOJ merger, Nexstar will be selling some locals. This means one or more of your local TV stations may be sold as part of this deal if you live in the following areas: Davenport, Iowa; Des Moines, Iowa; Ft. Smith, Ark.; Grand Rapids, Mich.; Harrisburg, Penn.; Hartford, Conn.; Huntsville, Ala.; Indianapolis; Memphis; Norfolk, Va.; Richmond, Va.; Salt Lake City Ut; and Wilkes-Barre, Penn.
“The completion of our accretive acquisition of Tribune Media increases Nexstar’s geographic diversity and audience reach with national coverage and an expanded presence in top 50 DMAs, while offering complementary media assets and investments, scale driven synergies and further cash flow diversification,” Nexstar CEO Perry Sook said in a press release. “Nexstar Media Group is now the nation’s leading creator and distributor of local news, entertainment, sports, lifestyle and network programming through its broadcast and digital media platforms.”
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