Nexstar Media Group has come to an agreement on a $4.1 billion deal to purchase Tribune Media and its 42 local and regional networks.
Nexstar Media Group has come to an agreement on a $4.1 billion deal to purchase Tribune Media and its 42 local and regional networks, Reuters reported Sunday.
Nexstar outbid private equity firm Apollo Global Management LLC with an all-cash offer. The Texas-headquartered telecommunications company already owns 174 TV networks, reaching 39 percent of U. S. households. Along with the 42 local networks that combine to reach 50 million homes, Tribune also has a stake in Food Network and owns WGN America, which has a reach of 77 million homes nationwide.

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