Mergers and acquisitions

Sycamore Partners is prepping a $1 billion dividend recap for Staples

Staples storefront
Office supplier Staples. Photo: Justin Sullivan/Getty Images

Sycamore Partners is prepping a $1 billion dividend recap for Staples, which would let it recoup around two-thirds of the equity used to buy the office supplies company 16 months ago.

Why it matters: Because this sort of myopic greed gives ammunition to private equity's critics.

Nexstar agrees to divest 19 stations to get Tribune deal passed

Illustration: Sarah Grillo/Axios

Nexstar agreed Wednesday morning to divest 19 of its local TV stations in 15 markets across the country in order to gain regulatory approval in its deal to acquire Tribune Media.

Why it matters: Regulators have rules about how many stations one operator can own in a single market, so that they can ensure a diversity of voices exists in each community. Nexstar is divesting these stations to get the merger approved under these rules.

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