Reports: Nexstar snags $4.1B deal to buy Tribune Media
IRVING, Texas (AP) — Media outlets are reporting that Nexstar Media Group, whose stations reach nearly 39 percent of all U.S. television households, has reached an agreement to buy Tribune Media for around $4.1 billion.
The deal would make Texas-based Nexstar the biggest operator of local TV stations in the U.S. The agreement was reported Sunday by Reuters and Bloomberg citing unnamed people familiar with the deal. They said the deal could be announced Monday.
Tribune’s deal to sell itself to Sinclair Broadcast Group for $3.9 billion collapsed about three months ago. Sinclair is currently the largest local TV operator.
Chicago-based Tribune Media owns or operates 42 local TV stations reaching about 50 million households and national entertainment network WGN. It also has a stake in the TV Food Network.