13 Dez Nexstar Tribune Merger Agreement
From a financial perspective, the merger will allow Nexstar to increase its average annual free cash flow to $900 million in 2018/2019, a 46 per cent growth, or $19.50 per share, based on approximately 46.2 million shares outstanding of Nexstar shares. IRVING, Texas – Nexstar Media Group, Inc. (Nasdaq: NXST) (“Nexstar”) announced today that it has completed its acquisition of tribune Media Company (NYSE: TRCO) (“Tribune Media”) in a watery transaction valued at approximately $7.2 billion, including the acquisition of Tribune Media`s unpaid debt (the “Transaction Tribune”). Under the merger agreement, Nexstar acquired all outstanding shares held by Tribune Media for $46,687397 per share in cash, including $0.187397 per share, to reflect the final deadline against the date of August 31, 2019. The FCC approved the merger between Nexstar and Tribune, bringing the Department of Justice`s comparison with broadcasters under a stamp. The merger creates the largest group of local owners of television channels in the country. The proposed $6.4 billion purchase of Chicago-based Tribune Media came close to a conclusion after the Justice Department signed the agreement on Wednesday with the agreement to sell stations in 13 markets to resolve cartel issues and abuse of dominance. The Commission concluded that the proposed merger “would present several public benefits to viewers of Tribune and Nexstar`s current channels. For example, viewers would benefit from improved access to nexstars Washington, D.C, information offices and public information offices. Nexstar has also demonstrated that it will invest merger savings in its channels, including investments in ATSC 3.0, the next-generation television broadcasting standard.
On August 2, 2017, reports were reported that Fox Television Stations was in talks with Ion Media to create a joint venture that would own the respective channels of the two groups. The partnership will include plans to transfer Fox network connections from Sinclair stations to ion stations, such as those scheduled to expire at the end of 2017, such as those scheduled to expire at the end of 2017. B membership contracts. Fox was concerned about Sinclair`s growing influence and the fact that his conservative syndicated messages would hurt his cable channel Fox News. It had been proposed that the proposed partnership put pressure on Sinclair to sell some of the Fox stations owned by Sinclair and (particularly) Tribune, as the market share it would have if the agreement were reached would be achieved. In the past, Ion chains had few local staff, Infrastructure or programming, including local news (after denouncing message-sharing agreements that allowed them to broadcast news programming from major network partners in their respective markets in July 2005, following the name change of the old Pax TV i: Independent Television, the brand, the launch of the network in January 2007 in the form of Ion television), prompting an analyst to maintain the inoperable plan. Sinclair`s share price fell after the news.   On October 19, 2017, Tribune Media shareholders approved the $3.9 billion acquisition of Sinclair.       IRVING, Texas and CHICAGO, Illinois – December 3, 2018 – Nexstar Media Group, Inc (Nasdaq: NXST) (“Nexstar”) and Tribune Media Company (NYSE: TRCO) (“Tribune Media”) announced today that they have entered into a definitive merger agreement under which Nexstar will acquire all outstanding shares of Tribune Media for US$46.50 per share in a cash transaction valued at $6.4 billion, including the acquisition of the outstanding debt of Media Tribune. The transaction reflects a 15.5% premium to Tribune Media shareholders based on the closing price of November 30, 2018 and a 45% premium to Tribune Media`s closing price on July 16, 2018, the day the FCC Chairman issued a public statement on his intention to issue an order of hearing for the transaction previously announced by Tribune with a third party.