Irving-based Nexstar Will Sell Off 19 TV Stations So It Can Buy Tribune Media

Irving-based media company Nexstar has entered an agreement to sell off 19 of its TV stations in 15 markets across the U.S. worth $1.32 billion in order to comply with demands from regulators, according to an announcement Wednesday.The stations Nexstar is selling are CW, Fox, CBS and ABC affiliate stations. Tegna will acquire 11 of the stations for $740 million and Scripps will acquire eight for $580 million.The sale will be completed in cash following the media company's acquisition of Tribune Media, and is part of a plan to obtain approval from the Federal Communications Commission and Department of Justice.  Continue reading...