The U.S. Federal Communications Commission approved Nexstar Media Group Inc.'s proposed $6.4 billion acquisition of Tribune Media Co.
The FCC also approved Nexstar's divestiture of 21 local television stations to TEGNA Inc., E.W. Scripps Co. and Circle City Broadcasting I Inc. The approval represents the final regulatory approval needed to close the transaction.
"We're very pleased with today's decision by the FCC, which enables us to clear the last remaining regulatory hurdle in our path," said Tribune Media CEO Peter Kern in a Sept. 16 statement. "We look forward to closing our transaction with Nexstar very soon."
The U.S. Department of Justice in July conditionally approved Nexstar's merger with Tribune, on condition that the broadcasters will divest TV stations in 13 markets.
