Deals
Nexstar to Sell Stations to Tegna, Scripps for $1.32 Billion
- Deals clear way for completion of Nexstar’s Tribune purchase
- Acquirers cite gains in battleground states ahead of 2020 race
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Nexstar Media Group Inc. agreed to sell 19 television stations for $1.32 billion in cash, clearing the way for its $4.1 billion acquisition of Tribune Media Co.
Tegna Inc. will pay $740 million for 11 stations in eight markets, and E.W. Scripps Co. will pay $580 million for eight stations in seven markets, Nexstar said Wednesday. Nexstar said it’s in “active negotiations” to divest two more stations, in Indianapolis.
