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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".
Scott from FTVLive said that Channel 5 could be (ugh!) expanding to its already extremely-long morning newscast. It's new 10am hour of its morning broadcast could debut on June 12. Should this stick, the station would air SEVEN straight hours of local news in the morning. That's just plain pitiful.