Reuters reports that the Nexstar Media Group has agreed to acquire the Tribune Media Company for $ 4.1 billion, making the combined company the largest television broadcaster in America. The deal was announced on Monday.
Nexstar, based in Irving, Texas, is currently the second largest owner of local television channels in the country, just behind Sinclair. If the acquisition goes through, Nexstar becomes the largest local television operator in the US. Sources say Reuters that the deal was officially announced on Monday and that Nexstar should outbid the stock company Apollo Global Management to acquire the company drew concerns from the FCC and ultimately failed. Sinclair announced that it would buy Tribune Media in 201
Months after the announcement, the FCC set some rules back to prevent large companies from owning newspapers and broadcasters or more than two television channels in the same local market, claiming the rules were outdated. Critics claimed the relapse would benefit Sinclair wrongly, and the FCC opened an investigation to determine if Chairman Ajit Pai acted inappropriately. Lately, he found "no evidence of inappropriateness." against Sinclair, who later filed a counterclaim.