Nexstar Media Group announced this morning that it will acquire Tribune Media for around $4.1 billion, in a deal that will make Nexstar the country’s largest local TV station operator.
Nexstar valued the overall deal at $6.4 billion, including the assumption of Tribune Media’s outstanding debt.
The Irving, Texas-based Nexstar owns, operates or provides services to 174 TV stations in the U.S., while the Chicago-based Tribune Media owns or operates 42 local stations, as well as national cable network WGN America.
“Nexstar has long viewed the acquisition of Tribune Media as a strategically, financially and operationally compelling opportunity that brings immediate value to shareholders of both companies,” said Nexstar chairman, president and CEO Perry Sook in a statement.
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