Nexstar Media Group Enters into Definitive Agreements to Divest Nineteen Stations in Fifteen Markets for $1.32 Billion
Nexstar Media Group, Inc. (NXST)
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Source: Business Wire
Planned Sales Reflects Nexstar’s Comprehensive Regulatory Compliance Plan to Secure Requisite Approvals for Tribune Media Company Transaction IRVING, Texas--(BUSINESS WIRE)-- Nexstar Media Group, Inc. (Nasdaq: NXST) (“Nexstar”) and Tribune Media Company (NYSE: TRCO) (“Tribune Media”) announced today that Nexstar has entered into definitive agreements to sell a total of nineteen stations in fifteen markets for an aggregate $1.32 billion in cash following the acquisition of Tribune Media by Nexstar. Under the terms of the agreements, TEGNA Inc. (NASDAQ: TGNA) (“Tegna”) will acquire eleven stations in eight markets for $740 million and The E.W. Scripps Company (NASDAQ: SSP) (“Scripps”) will acquire eight stations in seven markets for $580 million. Separately, Nexstar remains engaged in active negotiations to divest two stations in Indianapolis, Indiana. On December 3, 2018, Nexstar and Tribune Media ente
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