Nexstar to buy Tribune Media, becoming the largest US TV station operator

Patrick T. Fallon | Bloomberg | Getty Images

A live broadcast truck for KTLA Channel 5 TV, owned by Tribune Co, is seen in Los Angeles, California, July 23, 2013. 

Nexstar Media on Monday said it will acquire Tribune Media, a deal which would make it the largest regional U.S. TV station operator.

Nexstar will acquire all outstanding shares of Tribune Media for $46.50 per share in a cash transaction that is valued at $6.4 billion including the assumption of Tribune Media’s outstanding debt.

Nextstar said it expects the deal to close in the late third quarter of 2019.

Nexstar’s acquisition would come just three months after Tribune’s $3.9 billion deal to sell itself to Sinclair Broadcast Group.

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