Nexstar to Sell 19 TV Stations, Including New York’s WPIX, for $1.32 Billion in Cash

Read on: TheWrapTheWrap.

Nexstar is selling off 19 of its local TV stations in 15 markets to the tune of $1.32 billion in cash. Tegna and E.W. Scripps will be the recipients of those channels, which include New York City’s WPIX (that one for Scripps).
In December, Nexsta…

Nexstar Sells Off TV Stations Worth $1.3B, Including New York’s WPIX

Read on: Deadline.

Nexstar Media Group, whose pending deal to acquire Tribune Media will make it the No. 1 owner of local TV stations in the U.S., said it is selling off 19 stations in 15 markets, a move that will net the company $1.32 billion in cash.
Rival station grou…

Tribune Company Shareholders Approve Acquisition By Nexstar

Read on: Deadline.

Tribune Media shareholders overwhelmingly approved the company’s plan to be acquired by Nexstar Media Group during a special meeting today.
The $4.1 billion proposal won the OK of more than 95% percent of the votes cast by the Company’s Class A c…

Sinclair’s Unrequited Tribune Quest Hits End Of FCC Review, But U.S. Judge Says “Extremely Serious Charges” Merit Probe

Read on: Deadline.

An Administrative Law Judge reviewing Sinclair Broadcast Group’s ultimately unsuccessful effort to acquire Tribune Media at the FCC’s behest has dismissed the case with prejudice, urging a more thorough investigation of the matter.
Judge Ja…

Nexstar Sets Q4 Revenue Record On Flurry Of Political Advertising Spending

Read on: Deadline.

Nexstar, which has grown from a single radio station 23 years ago into what will soon be the No. 1 owner of local TV stations in the U.S., reported record revenue of $798 million in the fourth quarter.
Boosted by political ad spending, which was more t…

St. Louis TV Station KTVI Puts Newsman On Leave For Broadcast Racial Slur

Read on: Deadline.

A Tribune Media-owned St. Louis television station has reversed its prior disciplinary decision and put a newscaster who used a racial slur during a broadcast on indefinite leave.
KTVI newscaster Kevin Steincross used a racial slur when pronouncing Dr….

Tribune And Charter’s Spectrum Extend Contract Deadline, Avert New Year’s Day Blackout

Read on: Deadline.

Tribune Media and Charter’s Spectrum cable systems have agreed to extend the deadline for their carriage contract to 5 PM ET Wednesday, averting a blackout of 33 local TV stations that would have taken effect at 12:01 AM ET tonight.
The ongoing d…

Dealmakers Say M&A Pace Should Slow In 2019, But Ripe Media Targets Remain In Play

Read on: Deadline.

The frenetic pace of mergers and acquisitions that reshaped Hollywood in 2018 is likely to slow in 2019, after media companies spent this year racing to adapt to a new world order in which technology giants have forged direct relationships with consume…

Kurt The Cyberguy Wins Big Bucks In Long Legal Battle With KTLA; Tribune To Appeal

Read on: Deadline.

Nearly six years is an eon in the digital world, but after first filing a breach-of-contract and age-discrimination suit against KTLA-TV and owner Tribune Media back in early 2013, the man once widely known in SoCal and around America as Kurt the Cyber…

Tribune Shares Jump As Wall Street Cheers Merger With Nexstar

Read on: Deadline.

After a nearly two-year odyssey of waiting for its acquisition ship to come in, Tribune Media is getting full credit from Wall Street for finally finding a home with Nexstar Media.
After the companies’ $4.1 billion combination was announced this …

After all the FCC bullshit, Sinclair will lose Tribune to a different giant media company

Read on: The A.V. Club.

Last November, we reported that Trump’s FCC had reversed some media ownership regulations to make it so one company could control a newspaper and multiple TV networks in a single region without needing to control a “main studio” in the area, which basi…

Nexstar Buys Tribune For $4.1B, Becoming No. 1 Local TV Group – Report

Read on: Deadline.

Nexstar Media Group, which has grown in a short span from a single Pennsylvania radio station into a local TV colossus, has reportedly struck a deal to acquire Tribune Media for about $4.1 billion. The acquisition would vault it ahead of Sinclair Broad…