US media group Nexstar is set to become the country’s largest operator of local TV stations after a deal to buy Tribune Media for about $4.1bn reported The Financial Times.
It comes three months after Tribune’s sale to Sinclair Group, currently the largest US local TV operator, failed over regulatory hurdles.
Full details were expected to be confirmed on Monday, but the deal was widely reported in the US on Sunday. Tribune’s 42 TV stations reach approximately 50 million households.
The Chicago-based company also owns national entertainment cable network WGN America, whose reach is more than 77 million households, and a number of websites. It also has a stake in the Food Network.
Nexstar, based in Irving, Texas, owns, operates and provides sales and other services to 174 television stations reaching nearly 39% of all US television households.
