Equities

Reuters first to report Nexstar clinches $4.1 billion deal to acquire Tribune

Reuters first to report Nexstar clinches $4.1 billion deal to acquire Tribune

Reuters was first to report that Nexstar Media Group had clinched a $4.1 billion deal to buy Tribune Media, making it the largest local U.S. TV station operator. Sources revealed that Nexstar outbid private equity firm Apollo Global Management LLC with an all-cash offer that values Tribune at around $46.50 per share. The purchase comes just three months after Tribune’s $3.9 billion deal to sell itself to Sinclair Broadcast Corp Inc collapsed over regulatory hurdles.


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