M&A Deal Summary

Nexstar Media Group Acquires Tribune Media

On December 3, 2018, Nexstar Media Group acquired media company Tribune Media for 6.4B USD

Acquisition Highlights
  • This is Nexstar Media Group’s 4th transaction in the Media sector.
  • This is Nexstar Media Group’s largest (disclosed) transaction.
  • This is Nexstar Media Group’s 7th transaction in the United States.
  • This is Nexstar Media Group’s 1st transaction in Illinois.

M&A Deal Summary
Date 2018-12-03
Target Tribune Media
Sector Media
Buyer(s) Nexstar Media Group
Deal Type Add-on Acquisition
Deal Value 6.4B USD
Advisor(s) Moelis & Co.
Guggenheim Securities (Financial)
Debevoise & Plimpton
Covington & Burling LLP (Legal)

Target

Tribune Media

Chicago, Illinois, United States
website
The Tribune Co.'s corporate headquarters on Michigan Avenue in downtown Chicago, Illinois.
The Tribune Co.'s corporate headquarters on Michigan Avenue in downtown Chicago, Illinois.
Tribune Media Co. 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 Media Broadcasting’s 42 owned or operated local television stations reaching approximately 50 million households, national entertainment cable network WGN America, whose reach is more than 77 million households, and a variety of digital applications and websites commanding 54 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.

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Buyer(S) 1

Buyer

Nexstar Media Group

Irving, Texas, United States

website

Category Company
Founded 1996
Sector Media
Employees11,160
Revenue 4.6B USD (2021)
DESCRIPTION

Nexstar Media Group is a media company that leverages localism to bring new services and value to consumers and advertisers through its traditional media, digital and mobile media platforms. Nexstar owns, operates, programs or provides sales and other services to 170 television stations and related digital multicast signals reaching 100 markets or approximately 39% of all U.S. television households. Nexstar Media Group was founded in 1996 and is based in Irving, Texas.

DEAL STATS #
Overall 7 of 11
Sector (Media) 4 of 6
Type (Add-on Acquisition) 6 of 8
State (Illinois) 1 of 1
Country (United States) 7 of 11
Year (2018) 1 of 1
Size (of disclosed) 1 of 7
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2017-12-07 Nexstar - Digital Video Ad Platform

Foothill Ranch, California, United States

Nexstar's Digital Video Ad Platform is an independent video advertising infrastructure company provides enterprise digital video advertising technology infrastructure for publishers and advertisers on all screens reaching approximately 115 million US online video viewers across desktop, mobile-web, mobile-app and connected TVs.

Buy $90M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2019-11-05 Nexstar Media Group - Stations

Irving, Texas, United States

Nexstar Media Group, Inc.'s Stations provides broadcasting services in Seattle, WA, and Milwaukee, WI.

Sell $350M
Mergr

Product

Company

Legal