Kirkland & Ellis advised Nexstar Media Group, Inc. (Nasdaq: NXST), a leading diversified media company, on its definitive agreement to acquire Tribune Media Company (NYSE: TRCO) in a cash transaction valued at $6.4 billion including the assumption of Tribune Media’s outstanding debt. Tribune Media Company is home to a diverse portfolio of television and digital properties driven by quality news, entertainment and sports programming. The acquisition will create the nation’s largest local television broadcaster and local media company. The transaction is expected to close late in the third quarter of 2019, subject to regulatory approvals and other customary closing conditions.
The Kirkland team was led by transactional partners Sarkis Jebejian, Armand Della Monica and Ravi Agarwal and associates Laura Umbrecht and Gisella de la Rocha; financing partners Joshua Korff, Ashley Gregory, Brian Hecht and Yuli Wang; tax partners Dean Shulman and Vincent Thorn; executive compensation partner Michael Krasnovsky and associate Julia Onorato; and antitrust partners Ian John and Peter McCormack.