Irving, Texas-based Nexstar, which has TV stations across Louisiana, is offering to buy Chicago's Tribune Media for about $4 billion Monday, four months after the collapse of a similar bid from Sinclair Broadcast Group.
Chicago-based Tribune Media owns and operates 42 stations across the U.S., including two in New Orleans: WGNO, the ABC affiliate, and WNOL, the CW station.
Nexstar has 171 stations across the U.S., including Batn Rouge stations WVLA, the NBC affiliate, WGMB, the Fox affiliate and WBRL, the CW affiliate; and also KLFY, the CBS affiliate in Lafayette; WNTZ, in Alexandria; KTAL, KMSS and KSHV in Shreveport; and KARD and KTVE in Monroe.
The deal would make Nexstar the biggest operator of local TV stations in the U.S. Yet it still must be approved by federal regulators, as well as shareholders.
The Sinclair-Tribune deal appeared to be gliding toward approval over the summer until Federal Communications Commission Chairman Ajit Pai said in July that he had "serious concerns" about the deal.CAN END HERE Sinclair had agreed to shed almost two dozen of its own to score approval by the FCC. But Pai said Sinclair might still be able to operate the stations "in practice, even if not in name."