Recently Nexstar completed its purchase of Tribune-owned TV stations for $6.4 billion. Now Nexstar has announced that they are selling off 19 TV stations in 15 markets for $1.32 billion.
With this deal, Tenga will purchase 11 of the TV stations in 8 markets for $740 million. The E.W. Scripps Co. will purchase 8 TV stations in 7 markets for $580 million. Accord to a report from TV News Check, Nexstar is still in talks to sell two more stations in Indianapolis.
As part of the deal for DOJ merger approval, Nexstar agreed to sell some local TV stations. This means one or more of your local TV stations may be sold as part of this deal if you live in the following areas: Davenport, Iowa; Des Moines, Iowa; Ft. Smith, Ark.; Grand Rapids, Mich.; Harrisburg, Penn.; Hartford, Conn.; Huntsville, Ala.; Indianapolis; Memphis; Norfolk, Va.; Richmond, Va.; Salt Lake City Ut; and Wilkes-Barre, Penn.
“The completion of our accretive acquisition of Tribune Media increases Nexstar’s geographic diversity and audience reach with national coverage and an expanded presence in top 50 DMAs, while offering complementary media assets and investments, scale driven synergies and further cash flow diversification,” Nexstar CEO Perry Sook said in a press release. “Nexstar Media Group is now the nation’s leading creator and distributor of local news, entertainment, sports, lifestyle and network programming through its broadcast and digital media platforms.”
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