Nexstar Media to acquire Tribune’s TV stations for $6.4bn

Broadcast. In the US, Nexstar Media Group has agreed to buy Tribune’s 42 television stations and cable network in an all-cash deal. The merger will form the nation’s largest TV station company. If approved, the combined company will own more than 200 TV stations and cover 39% of US households. Nexstar will now gain a foothold in major markets, including New York, Los Angeles and Chicago for the first time, plus a cable channel (WGN America) and a 31% stake in Scripps’ The Food Network.