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Nexstar has officially announced this morning that it will acquire Tribune Media at a deal valued at $6.4B. Nexstar will acquire the outstanding shares of Tribune for $46.30 a share, valued at $6.4B. The $6.4B amount includes the assumption of Tribune's outstanding debt. Tribune shareholders could received an additional $0.30 a share, per month, if the deal doesn't close by August 31, 2019. The deal is subject to approval from Tribune shareholders. And aside from Nexstar spinning off divested stations to get the greenlight from regulators, Nexstar also said that it might also spin-off other assets "which it deems to be non-core".
Longtime voiceover artist Doug Paul passed away last Tuesday from heart failure resulting from pulmonary fibrosis. He was 59. His notable work was during the 80s & 90s, when he was the leading voiceover of the Tribune Broadcasting stations, including WGN, WPIX & KTLA. And just recently, he was the VO of Katz Broadcasting's diginet Grit. Some of his other work included KNSD, Peachtree TV, and several radio imaging & advertisements including Jos. A. Bank. Sad that another part of my childhood has gone away. May he rest in peace.