Nexstar Media Group Inc and Tribune Media Co will have to divest TV station in 13 markets so that their $6.4 billion deal satisfies antitrust concerns.
The U.S. Justice Department told Nexstar Media Group Inc and Tribune Media Co that they will have to divest television stations in 13 markets in order to resolve antitrust concerns over their proposed $6.4 billion merger.
The television markets are centered in Wilkes-Barre, Pennsylvania, Davenport, Iowa; Huntsville, Alabama; Des Moines, Iowa; Harrisburg, Pennsylvania; Ft. Smith, Arkansas; Norfolk, Virginia; Grand Rapids, Michigan; Salt Lake City; Hartford, Connecticut; Richmond, Virginia; Indianapolis; Memphis, Tennessee; and Wilkes-Barre, Pennsylvania.
“Without the required divestitures, Nexstar’s merger with Tribune threatens significant competitive harm to cable and satellite TV subscribers and small businesses,” said Assistant Attorney General Makan Delrahim in a statement.
In December 2018, Nexstar had agreed to acquire Tribune in a deal worth $6.4 billion.
Earlier this year in March, Nexstar had said, it would sell 19 television stations to Tegna Inc and E.W. Scripps Co for $1.3 billion so as to satisfy antitrust concerns.