Missouri Minute: Nexstar to buy Tribune for $6.4 billion; court upholds Sprint’s $140 million Time Warner verdict

Here are today’s top headlines from across Missouri:

Nexstar agrees to acquire Tribune for $6.4 billion in local TV tie-up

Nexstar Media has agreed to acquire Tribune Media for $6.4 billion, including debt, the companies announced Monday. The deal would create the largest local television broadcaster in the U.S. and bring multiple Missouri television stations together under the same ownership group. The announcement follow less than four months after Tribune walked away from a proposed merger with Sinclair Broadcast Group amid scrutiny from federal regulators. Read more

Sprint’s $140 million Time Warner verdict affirmed by appeals court

Sprint won an appeals court verdict against Time Warner Cable affirming a $140 million judgement against the cable company. The U.S. Court of Appeals for the Federal Circuit on Friday upheld an earlier decision that Time Warner, now owned by Charter Communications, infringed on five Sprint patents related to Voice Over Internet Protocol services. Read more

Coalition advances petition to cap KC tax abatements

A petition for a ballot measure that would limit property tax abatements in Kansas City is taking steps toward appearing on a future ballot, the Kansas City Business Journal reports. The City Clerk’s office certified 2,321 signatures for the petition, more than the 1,708 needed for a vote. The measure would cap tax abatements approved by several local development agencies at 50 percent, and it would other incentives used by the city. Read more

St. Louis soccer stadium tax plan wins approval of aldermen

The St. Louis Board of Aldermen has approved a resolution outlining tax incentives for a proposed downtown soccer stadium, clearing an initial hurdle in the effort to attract a Major League Soccer team to the city. Aldermen voted 26-2 on Friday to approve the resolution. It outlines a financing plan for the stadium but doesn’t create laws to secure tax incentives. Read more

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