Nexstar buys Tribune Media in $ 4.1 billion Deal (Report)
The agreement would make the company the largest operator of local American television stations.
Nexstar Media Group was purchased by Tribune Media Co. for $ 4.1 billion on Sunday, according to a report by Reuters. The agreement will make the company the largest operator of local American television stations.
Nexstar, based in Irving, Texas, currently operates over 1[ads1]00 TV stations in 58 markets, covering about 18 percent of American TV households.
In August, the Sinclair Broadcast Group's planned acquisition of Tribune of $ 3.9 billion was canceled and a lawsuit was filed by Tribune seeking "compensation for all losses incurred as a result of Sinclair's material breach of the merger agreement." Sinclair currently operates most TV stations in the United States
The news is expected to be officially revealed on Monday.