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FCC Sanctions Nexstar’s $6.4 Billion Acquirement Of Tribune Media

The drawn out, long saga over the fate of Tribune Media Company might soon finish. This week, the FCC (Federal Communications Commission) sanctioned the Tribune sale to Nexstar Media Group. The $6.4 Billion worth agreement will make the country’s biggest local media company and local TV broadcaster, Nexstar claimed earlier.

To obey with TV ownership laws, Nexstar will trade 21 of its domestic TV stations. Those trades were also sanctioned this week. The FCC claims that the planned merger will advantage both Tribune and Nexstar users. The Tribune stations will now have authorization to Nexstar’s state news bureau and Washington D.C. news bureau, and Nexstar has committed to pump in savings from the amalgamation into its stations. FCC sanction was the last primary regulatory challenge for this agreement, which the firm hope to lock soon.

As you may recall, Sinclair first attempted to buy Tribune. Sinclair, in order to do so, might have to trade 21 of its stations. When the FCC lifted doubts that Sinclair may be capable of buying those stations back after the amalgamation, Tribune stepped back from the deal. That resulted in a countersuit and lawsuit.

Just months later, Nexstar reached an agreement with Tribune. Nexstar already has almost 39% of TV-controlled households, and that amount will increase significantly now that it has 42 stations of Tribune. It is difficult to say precisely how the amalgamation will affect users. On one hand it can result in less diversity of programming. On the other, it can enhance local TV broadcasting tech.

On a related note, a new spectrum band will shortly be freed up for everything from IoT devices to your smartphone. The FCC this week gave green signal to 5 firms to start the 3.5GHz band’s “initial commercial deployment.” Those selected comprised Federated Wireless, Google, Amdocs, Commscope, and Sony.

Ivan Martinez
Ivan Martinez Subscriber
Managing Editor At Market Research 24

Ivan accomplished the Degree of Bachelors in Management Information Systems. Earlier, he was working as a Business Analyst. However, his zeal to connect with people and share the knowledge pushed him into the field of writing. Lately, Market Research 24 Business section team celebrated Ivan’s successful 5 years with our news portal. As the Head of the Business Department, he shows active involvement in the quality check of every news report created by his team. At the same time, he never fails to show his superlative proofreading and editing skills along with the precise presentation abilities while writing news for the Market Research 24 platform.

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