NEXSTAR TO PAY $4.1B FOR TRIBUNE MEDIA TV

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.