IRVING, Texas – The Federal Communications Commission (FCC) on Monday approved the merger of Nexstar Media Group, Inc. and Tribune Media Company, Inc.
Nexstar announced that the FCC granted the applications seeking consent to transfer control of licenses held by subsidiaries of Tribune Media. The merger was initialized in December 2018, where Nexstar agreed to purchase Tribune for $4.1 billion.
As part of FCC regulations, 21 Tribune-owned local television stations in 13 markets where Nexstar already owns stations, will be sold.
In July the Department of Justice cleared Nexstar’s pending acquisition of Tribune Media, and the FCC approval represents the final required regulatory approval needed to close the transaction.
The merger will create the largest local television broadcast station ownership group. The newly combined company, after divesting stations, will hold 144 full-power station licenses in 115 markets nationwide.
Nexstar officials are confident the Tribune transaction will officially close shortly.