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Tribune Media shareholders approve Nexstar deal

Tribune Media Co.'s shareholders approved the company's planned sale to Nexstar Media Group Inc.

Nexstar in November 2018 agreed to buy all outstanding shares of Tribune Media Co. for $46.50 per share in a cash transaction valued at $6.4 billion, including the assumption of Tribune Media's outstanding debt. Tribune Media shareholders will be entitled to an additional cash consideration of about 30 cents per month if the transaction has not closed by Aug. 31.

The deal is expected to close late in the third quarter.