Tribune Media Stockholders Approve $6.4 Billion Nexstar Merger
Nexstar will send 19 TV stations for $1.32 billion to comply with FCC rules.
Last week, Tribune Media Company (NYSE: TRCO) got the okay from stockholders to proceed with a merger with Nexstar Media Group. The companies had entered an agreement in December for Nexstar to acquire Tribune Media for $46.50 per share, for an approximate value of $6.4 billion, including the assumption of Tribune Media’s outstanding debt. According to a Tribune Media news release, this represents a 15.5 percent premium on the stock’s value as of November 30, 2018.
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