Nexstar to Acquire Tribune Media for $6.4 Billion in Cash
Deal includes Nexstarís assumption of Tribune Mediaís outstanding debt.
Monday was a big day for Tribune Media Company (NYSE: TRCO). Nexstar Media Group (NASDAQ: NXST) agreed to buy Tribune Mediaís outstanding shares at $46.50 each in an all-cash transaction worth $6.4 billion. As part of the deal, Nexstar will take on Tribune Mediaís outstanding debt. The deal will be financed through Bank of America Merrill Lynch, Credit Suisse and Deutsche Bank. The boards of directors of both companies have both agreed to the deal which is expected to close in the third quarter of 2019, provided the acquisition agreement receives all the necessary regulatory approvals.
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