IRVING, Texas – Nexstar Media Group, the parent company of WAVY/WVBT, announced Monday that the Federal Communications Commission (FCC) has signed off on the company’s merger with Tribune Media Company, Inc. The sale is expected to close this week.
This merger will create the largest broadcast group in the country.
Nexstar struck the deal to buy Tribune stations last November.
The Department of Justice cleared the way for Nexstar’s pending acquisition of Tribune Media in July. The FCC approval represents the final required regulatory step needed to close the transaction.
According to a news release from Nexstar, the company owns, operates, programs or provides sales and other services to 174 full power television stations and related digital multicast signals reaching 100 markets or nearly 39% of all U.S. television households.
Nextar-Tribune is spinning off television stations in 13 markets as part of the deal.
Nexstar owns WAVY TV 10 and WVBT FOX43 in the Norfolk market.
In accordance with the merger, Tribune has exercised its right under an Option Agreement to acquire control of the licenses of WTKR and WGNT, from Dreamcatcher. Concurrently, Tribune proposes to sell these stations to the E.W. Scripps Company.
