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TVNewsCheck, TVWeek

Department of Justice Approves $6.4 Billion Media Merger

Aug 1, 2019  •  Post A Comment

On the condition that the companies follow through on the required divestiture of TV stations, the Department of Justice greenlighted the $6.4 billion acquisition of Tribune Media by Nexstar Media Group, TVNewsCheck reports.

As we reported Wednesday, DoJ announced that it would require the companies to divest TV stations in 13 markets as a ondition of the merger. Those markets are in Davenport and Des Moines, Iowa; Fort Smith, Ark.; Grand Rapids, Mich.; Harrisburg and Wilkes-Barre, Pa.; Hartford, Conn.; Huntsville, Ala.; Indianapolis; Memphis; Norfolk and Richmond, Va.; and Salt Lake City.

“The companies have already announced spinoffs in most of those markets, agreeing to sell stations to Tegna and E.W. Scripps,” TVNewsCheck reports, adding: “The approval comes in the form of a settlement on an antitrust suit that Justice routinely brings in such cases.”

The Nexstar-Tribune merger still needs the go-ahead from the Federal Communications Commission.

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