TPCO - Nexstar to acquire BestReviews for $160M from Tribune Publishing

Nexstar, wholly-owned subsidiary of Nexstar Media Group (NXST), entered into a definitive agreement to acquire leading consumer product recommendations company BestReviews from Tribune Publishing (TPCO) for $160M.Transaction is immediately accretive to Nexstar's operating results and is expected to close by 2020 year-end.BestReviews simplifies the way consumers buy products and services across thousands of categories by independently researching, analyzing, and testing products and recommending the best picks.It has an audience of 9M monthly visitors and has helped 300M+ consumers make informed purchases of consumer products and services."Financially, by adhering to our disciplined acquisition and integration criteria, we are acquiring a fast-growing digital product review company with a profitable and scalable business model at an attractive pro forma EBITDA multiple. Nexstar will continue to focus on select strategic digital investments that complement and enhance our existing content offerings while creating new opportunities to drive shareholder returns," president, COO & CFO Tom Carter commented.

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Nexstar to acquire BestReviews for $160M from Tribune Publishing