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Nexstar to sell 19 stations for $1.3 bln to complete Tribune purchase

Reuters

March 20 () - Nexstar Media Group is selling 19 television stations to Tegna Inc and E.W. Scripps Co for $1.3 billion to satisfy regulatory demands before it buys Tribune Media Co , it said on Wednesday.

The TV station operator will sell 11 stations to Tegna for $740 million and eight to Scripps for $580 million in cash, as part of moves to comply with the U.S. Federal Communications Commission's conditions.

Nexstar announced its purchase of peer Tribune for about $4.1 billion in cash in December, a deal that will make it the largest regional U.S. TV station operator.

Nexstar also said it was in talks to sell two more stations in Indianapolis.


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