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To comply with the rules on television ownership, Nexstar will sell 21 of its local television stations. These sales were also approved today. According to the FCC, the proposed merger will benefit Nexstar and Tribune customers. Tribune stations will now have access to the Washington D.C. press office and Nexstar's national press office, and Nexstar has promised to invest in its stations the savings achieved through the merger. FCC approval was the last major regulatory hurdle to this transaction, which companies expect to close soon.
As you may remember, Sinclair first tried to buy Tribune. To do this, Sinclair is expected to sell 21 of its stations. When the FCC raised concerns that Sinclair may be able to purchase these stations after the merger, Tribune dropped the deal. This led to a trial and a counter-action.
Nexstar reached an agreement with Tribune a few months later. Nexstar already covers approximately 39% of homes owned by television, and this percentage will increase significantly now that it has 42 Tribune stations. It's hard to say exactly how the merger will affect viewers. On the one hand, this could reduce the diversity of programming. On the other hand, he could advance the local TV broadcast technology.
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