M&A Deal Summary

Fox Acquires Nexstar Media Group - Stations

On November 5, 2019, Fox acquired media company Nexstar Media Group - Stations from Nexstar Media Group for 350M USD

Acquisition Highlights
  • This is Fox’s 1st transaction in the Media sector.
  • This is Fox’s 2nd largest (disclosed) transaction.
  • This is Fox’s 2nd transaction in the United States.
  • This is Fox’s 1st transaction in Texas.

M&A Deal Summary
Date 2019-11-05
Target Nexstar Media Group - Stations
Sector Media
Buyer(s) Fox
Sellers(s) Nexstar Media Group
Deal Type Divestiture
Deal Value 350M USD

Target

Nexstar Media Group - Stations

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

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Buyer(S) 1

Buyer

Fox

New York, New York, United States

website

Category Company
Founded 2018
Sector Media
Employees9,000
Revenue 14.0B USD (2022)
DESCRIPTION

Fox produces and distributes compelling news, sports, and entertainment content through its iconic domestic brands including FOX News, FOX Sports, the FOX Network, and the FOX Television Stations. These brands hold cultural significance with consumers and commercial importance for distributors and advertisers. The breadth and depth of Fox footprint allow to deliver content that engages and informs audiences, develops deeper consumer relationships and creates more compelling product offerings. FOX maintains an impressive track record of news, sports, and entertainment industry success that will shape our strategy to capitalize on current strengths and invest in new initiatives. Fox was founded in 2018 and is headquartered in New York, New York.

DEAL STATS #
Overall 2 of 4
Sector (Media) 1 of 1
Type (Divestiture) 1 of 1
State (Texas) 1 of 1
Country (United States) 2 of 4
Year (2019) 2 of 2
Size (of disclosed) 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2019-08-04 Credible Labs

San Francisco, California, United States

Credible Labs, Inc. is a U.S. company based in San Francisco which operates a consumer finance marketplace that helps consumers save money and make better financial decisions. Credible has developed a proprietary technology platform that is integrated with credit bureaus and financial institutions. Credible has developed a differentiated, and personalized user experience that enables consumers to compare instant, accurate prequalified rates from multiple financial institutions for student loans, personal loans, and mortgages.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2020-03-17 Tubi

San Francisco, California, United States

Tubi, Inc. is a streaming service provider. Watch free movies and TV shows online in HD on any device. Tubi was established in 2014 and is based in San Francisco, California.

Buy $440M

Seller(S) 1

SELLER

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 2 of 3
Sector (Media) 2 of 2
Type (Divestiture) 2 of 3
State (Texas) 1 of 1
Country (United States) 2 of 3
Year (2019) 1 of 1
Size (of disclosed) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2018-12-03 Tribune Media

Chicago, Illinois, United States

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.

Buy $6.4B
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2020-12-16 BestReviews

Sparks, Nevada, United States

BestReviews LLC is an online product review company. BestReviews simplifies the way consumers buy the products and services they need across thousands of categories from laptops to vacuum cleaners to rowing machines. All products on the BestReviews site are thoroughly and independently researched. The company buys all of its products and tests them in its own labs to help consumers find the best overall products and the best buys for the dollar. BestReviews was founded in 2014 and is based in Sparks, Nevada.

Buy $160M
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