(NEXSTAR) — WOI-TV’s parent company Nexstar Media Group was approved by the Federal Communications Commission to merge with Tribune Media, setting Nexstar to become the biggest broadcast group in the United States. This triggered the divestiture of WOI-TV and KCWI-TV to TEGNA Inc. As part of the merger, Nexstar Media Group will own and operate WHO-TV in Des Moines.
The FCC approval was announced Monday, and the sale is expected to close this week. According to the Commission, they found that viewers would benefit from Nexstar’s local stations having increased access to Nexstar’s Washington, DC, news bureau and state news bureaus.
Nexstar Media Group‘s existing 174 stations reach nearly 39% of all U.S. television households.
For Nexstar to continue compliance with local and national television ownership rules after the merger, the Commission also approved divestiture applications allowing the sales of 21 local television stations to broadcasters TEGNA Inc. The E.W. Scripps Company and Circle City Broadcasting I, Inc.
About TEGNA
TEGNA Inc. (NYSE: TGNA) is an innovative media company based in Tysons, Va. that serves the greater good of our communities. Across platforms, TEGNA tells empowering stories, conducts impactful investigations and delivers innovative marketing solutions. With 51 television stations and four radio stations in 43 markets, TEGNA is the largest owner of top 4 affiliates in the top 25 markets, reaching over 35 percent of all television households nationwide.TEGNA also owns leading multicast networks Justice Network and Quest that reach more than 87 million U.S. television homes. TEGNA Marketing Solutions (TMS) offers innovative solutions to help businesses reach consumers across television, email, social and over-the-top (OTT) platforms, including Premion, TEGNA’s OTT advertising service. For more information, visit www.TEGNA.com.
