Nexstar Reaches Deal to Buy Tribune Media for $4.1 Billion

Apparently, Nexstar Media Group has reached an agreement in principle to buy Tribune Media Co. for about $4.1 billion. The acquisition would add Tribune Media’s 42 stations in major markets to Nexstar’s portfolio of about 175 TV stations in cities including San Francisco, Phoenix and Tampa. It would catapult Nexstar past rival Sinclair Broadcast Group, which owns more than 170 stations, mostly in midsize and smaller markets.