Nexstar is selling off several of its stations as part of its deal to buy Tribune. (TVSpy)
Nexstar said it is selling off 19 stations in 15 markets, a move that will net the company $1.32 billion in cash. Rival station groups Tegna and E.W. Scripps are acquiring the stations. (Deadline)
The list of stations to be sold include CW affiliates in New York, Phoenix and Miami. The deals are contingent on Nexstar closing its $4.1 billion acquisition of Tribune, which will make Nexstar the nation’s largest TV station owner by far. (Variety)
Nexstar said it also “remains engaged in active negotiations” to divest two stations in Indianapolis. The company said it intends to use the proceeds from the station sales to fund the Tribune acquisition and to reduce debt. (THR)