Nexstar Sells 19 Stations For $1.32B To Satisfy Regulators

Law360 (March 20, 2019, 8:51 PM EDT) -- Nexstar Media Group said Wednesday it has reached deals to sell 19 TV stations totaling $1.32 billion to resolve regulators' antitrust concerns about its proposed megadeal to buy Tribune Media Co.

Nexstar's cash deals, guided by Kirkland & Ellis LLP and Wiley Rein LLP, unloaded stations belonging to it and Tribune. Tegna Inc. reached a definitive agreement to buy 11 stations for $740 million, and the E.W. Scripps Co. will be taking over eight stations for $580 million.

Together the agreements are intended to make sure Nexstar can clear regulatory hurdles in the Tribune buyout, which came about after a plan...

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