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Tribune Media Nexstar Media Group enters into final agreements for nineteen positions at $ 1.32 billion for fifteen markets

20 Mar Nexstar Media Group enters into final agreements for the creation of nineteen stations at a worth of $ 1.32 billion. March, 2019, IRVING, Texas – Nexstar Media Group, Inc. (Nasdaq: NXST) ("Nexstar") and Tribune Media Company (NYSE: TRCO) ("Tribune Media") right now introduced that Nexstar has made final nineteen agreements Fifteen markets for a complete of $ 1.32 billion in cash when Nexstar acquired Tribune Media. Beneath the terms of the agreements, TEGNA Inc. (NASDAQ: TGNA) ("Tegna") acquires eleven positions in eight $ 740 million markets and EW Scripps Firm (NASDAQ: SSP) ("Scripps") acquires eight positions for $ 580 million in seven markets. Nexstar continues to independently negotiate the creation of two stations in Indianapolis, Indiana.

On 3 December 2018, Nexstar and Tribune Media concluded a final merger agreement whereby Nexstar acquires all remaining shares of the Tribune Media. The deliberate deliveries of nineteen stations mirror Nexstar's declared intention to abandon sure TV channels to adjust to FCC local and national tv laws and acquire approval from the FCC and the Ministry of Justice ("DOJ") for the proposed Nexstar / Tribune Media enterprise

Nexstar intends to make use of internet gross sales from the Tribun finance and debt discount. Contemplating that the web proceeds from the sales exceed the initially estimated occasion at the time of the announcement, Nexstar now estimates that internet debt is decreased to roughly 5.1

. under is the FCC approval, other regulatory approvals, the closure of the Nexstar / Tribune Media occasion, and different ordinary closing phrases, and is predicted to be completed by the closing of the Nexstar / Tribune Media event or earlier than.

Nexstar and Tribune media stations launched Market DMA Position Subscription Seller Buyer 1 1 New York, NY 1 WPIX CW Tribune Scripps 2 Phoenix, AZ 12 KASW CW CW CW Nexstar ] Scripps three Miami-Ft. Lauderdale 16 WSFL CW Tribune Scripps 4 Salt Lake Metropolis, UT 30 FOX FOX 19659009] 19659010] Scripps 5 Hartford-New Haven, CT 33 WTIC / WCCT FOX / CW Tribune Tegna 19659009] Tegna 6