Nexstar explores sale of some newly-acquired Fox stations: source
Nexstar is exploring the sale of four once-Tribune Fox affiliates to Fox Broadcasting Group, according to a source.
Nexstar Media Group ($NXST) is one of the biggest operators of local broadcast television stations in the United States. In addition to more than 160 local stations, Nexstar Media Group operates NewsNation (formerly WGN America), LIN Digital, Zap2It and Antenna TV. The company shares ownership of the Food Network and Cooking Channel with Discovery Networks. Nexstar is based in Irving, Texas.
Nexstar is exploring the sale of four once-Tribune Fox affiliates to Fox Broadcasting Group, according to a source.
Nexstar Media Group formally acquired Tribune Media on Thursday, taking control of three dozen stations and selling off about a dozen more.
Chief Executive Peter Kern is also expected to depart the combined company shortly after the deal closes, according to the memo.
Nexstar Media Group is poised to become the biggest local broadcaster in the country after the FCC on Monday gave formal approval for its takeover of Tribune Broadcasting.
The blackout impacts KRON-TV in San Francisco as well as channels in Bakersfield and Fresno.
What will happen to WGN America, one of the first superstations in the United States, after Nexstar acquires Tribune? No one is certain.