Latest in Entertainment

Image credit: scanrail via Getty Images

FCC approves Nexstar’s $6.4 billion acquisition of Tribune Media

As part of the deal, Nexstar will sell 21 of its channels.
91 Shares
Share
Tweet
Share

Sponsored Links

scanrail via Getty Images

The long, drawn out saga over Tribune Media Company's fate could soon come to an end. Today, the Federal Communications Commission (FCC) approved the sale of Tribune to Nexstar Media Group. The $6.4 billion deal will create the nation's largest local TV broadcaster and local media company, Nexstar said previously.

To comply with TV ownership rules, Nexstar will sell 21 of its local TV stations. Those sales were also approved today. The FCC says the proposed merger will benefit both Nexstar and Tribune customers. The Tribune stations will now have access to Nexstar's Washington D.C. news bureau and state news bureau, and Nexstar has promised to invest savings from the merger into its stations. FCC approval was the last major regulatory hurdle for this deal, which the companies expect to close soon.

As you may remember, Sinclair first tried to purchase Tribune. In order to do so, Sinclair would have to sell 21 of its stations. When the FCC raised concerns that Sinclair might be able to buy those stations back after the merger, Tribune backed out of the deal. That led to a lawsuit and countersuit.

Nexstar reached a deal with Tribune just months later. Nexstar already covers about 39 percent of TV-owned households, and that percentage will grow significantly now that it has Tribune's 42 stations. It's hard to say exactly how the merger will impact viewers. On one hand it could lead to less programming diversity. On the other, it could advance local TV broadcasting technology.

All products recommended by Engadget are selected by our editorial team, independent of our parent company. Some of our stories include affiliate links. If you buy something through one of these links, we may earn an affiliate commission.
Comment
Comments
Share
91 Shares
Share
Tweet
Share

Popular on Engadget

Google says it's achieved quantum supremacy

Google says it's achieved quantum supremacy

View
NBC is making a sitcom based on esports

NBC is making a sitcom based on esports

View
Nissan's bold Ariya EV concept may soon go into production

Nissan's bold Ariya EV concept may soon go into production

View
FTC issues its first ban on 'stalking' apps

FTC issues its first ban on 'stalking' apps

View
Fujifilm's X-Pro3 can focus in almost complete darkness

Fujifilm's X-Pro3 can focus in almost complete darkness

View

From around the web

Page 1Page 1ear iconeye iconFill 23text filevr