Tribune Publishing to sell BestReviews website to Nexstar for $160 million

Tribune Publishing and BR Holding Company will sell the BestReviews website to TV station owner Nexstar Media Group for $160 million, the companies announced Wednesday. The deal to sell the profitable e-commerce website is pending regulatory approval and is expected to close before the end of the year. Tribune Publishing bought a 60% stake in BestReviews for $66 million in February 2018, with its founder, BR Holding, retaining 40%. Under the terms of the deal, Tribune Publishing will receive $96 million, less transaction fees and a working capital adjustment. “This cash return strengthens our …

Read More

HEDGE accordingly