Tribune Media

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.

The corporate world's rush to "de-brand"

Illustration: Sarah Grillo/Axios

This week brought news from WeWork, the co-working unicorn, that it has decided to downgrade its main business to a mere subsidiary. WeWork has a famously complex corporate structure, but lift your eyes above the newly demoted WeWork to the very apex and behold — The We. (I am not making this up.)

The big picture: WeWork is not the only company to demote its flagship brand and name the holding company something silly, or worse.

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