Nexstar Broadcasting Group announced yesterday that it has agreed to buy Tribune Media for about $4.1 billion in cash. The acquisition would put local stations FOX43 and ABC27 under the same corporate parent. The deal is valued at $6.4 billion overall including assumption of Tribune Media’s debt.
Nexstar completed its acquisition of former ABC27 owner Media General in January 2017.
Assuming the FCC approves the deal, the acquisition would result in the largest local television holding company in the country. Nexstar is based in Irving, Texas.