NEXS­TAR TO PAY $4.1B FOR TRI­BUNE ME­DIA TV

USA TODAY International Edition - - MONEY -

Me­dia com­pany Nexs­tar will pay $4.1 bil­lion to ac­quire Tri­bune Me­dia’s 42 TV sta­tions – in­clud­ing WGN and a 31 per­cent own­er­ship stake in the Food Net­work – a deal that will give Nexs­tar the largest col­lec­tion of lo­cal tele­vi­sion sta­tions in the U.S. Irv­ing, Tex­as­head­quar­tered Nexs­tar will ex­pand to 216 sta­tions in 118 mar­kets. Nexs­tar will pay $46.50 for each out­stand­ing Tri­bune Me­dia share, a 15 per­cent pre­mium to Fri­day’s clos­ing price.

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