16 Sep Tribune Media Statement on FCC Approval of Nexstar Transaction
CHICAGO, Sept. 16, 2019—Tribune Media Company (NYSE: TRCO) issued the following statement regarding today’s announcement by the Federal Communication Commission that it has approved the acquisition of the company by Nexstar Media Group, Inc. (NASDAQ: NXST) and Nexstar’s divestiture of local television stations to TEGNA, Inc. (NASDAQ: TGNA), The E.W. Scripps Company (NASDAQ: SSP) and Circle City Broadcasting I, Inc.
“We’re very pleased with today’s decision by the FCC, which enables us to clear the last remaining regulatory hurdle in our path,” said Peter Kern, Chief Executive Officer of Tribune Media Company. “We look forward to closing our transaction with Nexstar very soon.”
Tribune Media Company (NYSE: TRCO) is home to a diverse portfolio of television and digital properties driven by quality news, entertainment and sports programming. Tribune Media is comprised of Tribune Broadcasting’s 42 owned or operated local television stations reaching approximately 49 million households, national entertainment cable network WGN America, whose reach is more than 75 million households, Tribune Studios, and a variety of digital applications and websites commanding 49 million monthly unique visitors online. Tribune Media also includes Chicago’s WGN-AM and the national multicast networks Antenna TV and THIS TV, and Covers Media Group, an unrivaled source of online sports betting information. Additionally, the Company owns and manages a significant number of real estate properties across the U.S. and holds a variety of investments, including a 31% interest in Television Food Network, G.P., which operates Food Network and Cooking Channel. For more information please visit www.tribunemedia.com.