Feder: Justice Department approves Nexstar deal for Tribune Media

The Antitrust Division of the Justice Department has approved the $6.4 billion acquisition of Chicago-based Tribune Media by Nexstar Media Group, Robert Feder writes.

The decision announced Wednesday puts Nexstar one step away from owning "Chicago's Very Own" WGN-Channel 9 and WGN 720-AM, and becoming the one of the largest broadcasting companies in the country with more than 200 stations covering 39 percent of U.S. households.

To comply with ownership limits, Dallas-based Nexstar agreed to divest stations in 13 markets.

"Without the required divestitures, Nexstar's merger with Tribune threatens significant competitive harm to cable and satellite TV subscribers and small businesses," Assistant Attorney General Makan Delrahim said in a statement. "I am pleased, however, that we have been able to reach a resolution of the Division's concerns, thanks in part to the parties' commitment to engage in good faith settlement talks from the outset of our investigation."

Get the full report, and more Chicago media news, at robertfeder.com.