Tribune Deal to Make Nexstar Top Local TV Operator in U.S.

Texas-based Nexstar Media Group has inked a deal to acquire Tribune Media for about $4.1 billion, which will make Nexstar the largest local U.S. TV operator. The news comes on the heels of Sinclair Broadcast Group’s thwarted deal to purchase Tribune for $3.9 billion, which fell through due to regulatory issues. According to sources, Nexstar made an all-cash offer for Tribune, valued at around $46.50 per share. The company, which has a market capitalization of $3.8 billion, was also able to outbid private equity firm Apollo Global Management. Continue reading Tribune Deal to Make Nexstar Top Local TV Operator in U.S.

Redbox in Public Beta for New On-Demand Streaming Service

Redbox, known for its red kiosks where users can rent DVDs and Blu-ray Discs, has unveiled a new on-demand streaming service for movies and TV shows. The new service is not subscription-based but, similar to iTunes or Google Play, allows the user to pay for each movie or show that they rent or buy; the on-demand service, currently in public beta, will offer the same kind of new release movies and shows available in the kiosks. The privately held company offers content from every studio except Disney. Continue reading Redbox in Public Beta for New On-Demand Streaming Service

Redbox Owner Agrees to Be Taken Private by Apollo Global

Apollo Global Management will acquire Bellevue, Washington-based Outerwall Inc., owner of Redbox movie rental kiosks and Coinstar coin counting machines, “for $52 a share, a transaction value of $1.6 billion when including debt,” reports The New York Times. “Investors applauded the move, sending the stock 11 percent higher in early trading Monday to a level just above the $52 buyout price.” Outerwall operates more than 40,000 rental kiosks in the U.S. and Puerto Rico, but has struggled to compete with cable VOD and streaming services. Redbox recently started testing its own streaming and download service. Continue reading Redbox Owner Agrees to Be Taken Private by Apollo Global