Stockholders in Tribune Media Company, owner of online sports betting information specialist the Covers Group, have voted overwhelmingly to approve the company’s previously announced acquisition by Nexstar Media Group Inc.
More than 95 percent of the votes cast by the firm’s Class A common stockholders and Class B common stockholders, voting as a single class, entitled to vote at the special meeting, voted to approve the merger, which represents approximately 73 percent of the shares of the company’s Class A common stock and Class B common stock outstanding as of the special meeting record date. The Company will file a Form 8-K disclosing the full voting results.
“We’re extremely pleased with today’s vote,” said Peter Kern, Tribune Media Company’s chief executive officer. “It confirms that our stockholders clearly recognize the significant value we expect to be delivered by this merger. We look forward to continuing our work with Nexstar to obtain the necessary regulatory approvals that will enable us to close this transaction later this year.”
Tribune Media Company is home to a diverse portfolio of television and digital properties driven by news, entertainment and sports programming. Tribune Media comprises Tribune Broadcasting’s 42 owned or operated local television stations reaching approximately 49 million households, national entertainment cable network WGN America, whose reach is more than 75 million households, Tribune Studios, and a variety of digital applications and websites commanding 49 million monthly unique visitors online.