A Lexington television station is about to change hands
Lexington’s FOX affiliate is changing hands under a settlement between Sinclair Broadcast Group, which owned the station, and Nexstar Media Group.
FOX 56 WDKY-TV will be sold to Nexstar subject to approval by the Federal Communications Commission, according to a filing with the Securities and Exchange Commission.
Tribune Media had sued Sinclair over the company’s failed $3.9 billion takeover of Tribune last year.
The FCC had referred the deal to an administrative law judge, and the FCC chairman had said he had “serious concerns” about it, according to The Hollywood Reporter.
Nexstar acquired Tribune, which held 42 television stations and the network WGN America, in September.
Under the settlement announced Monday, Sinclair will pay Nexstar about $60 million, “net of the asset sales purchase price,” according to the SEC filing.
“Neither party has admitted any liability or wrongdoing in connection with the terminated merger; both parties have settled the lawsuit to avoid the costs, distraction, and uncertainties of continued litigation,” the SEC filing said.
