Nexstar Media selling 19 TV stations for $1.32 billion; FOX 17 sold to E.W. Scripps

IRVING, Texas (AP/FOX 17) — Nexstar is selling 19 television stations for $1.32 billion as part of its buyout deal with Tribune Media.

Nexstar agreed in December to buy Chicago’s Tribune Media for about $4 billion. Part of that agreement requires Nexstar to sell certain television stations in order to comply with the FCC local and national television ownership rules and to get FCC and Justice Department approval of the Tribune Media transaction.

WXMI – FOX 17 in Grand Rapids is part of Tribune Media and is one of the stations being sold by Nexstar.

Nexstar Media Group Inc. is selling 11 stations to Tegna Inc. for $740 million and eight stations to E.W. Scripps Co. for $580 million.  FOX 17 is one of the eight stations going to E.W. Scripps Co.

Nexstar said Wednesday that it’s still in active talks to sell two stations in Indianapolis. The company said it’ll use proceeds from the sale of the television stations to fund its Tribune deal and to lower debt.

 

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3 comments

    • J.B.

      I bet the comment section here dies an almost immediate death regardless…
      Can not allow conflicting opinions in the liberal push for diversity and fairness dont ya know..
      Freedom of speech matters to the left only as long as you repeat what you are told to hear….
      and if you do not…ironically enough, that makes you a Nazi….. ;)

  • The Rock

    I thought that WXMI Fox17 was going to be sold to Scripps was my number 1 to buy WXMI from the beginning forming 196 Cluster with WSYM Fox47 in Lansing, WXYZ ABC7 in Detroit. You were already sister stations with Fox47 since it being a Fox TV station I could see Scripps forming a State Of Michigan News Network.

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