Nexstar to Spin off Tribune's New York Station

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Sources tell FTVLive that Nexstar is not planning on keeping WPIX in New York City after it purchases the station as part of the Tribune deal.

Word is that Nexstar will sell the station in the nation’s No. 1 market.

The spinning off of WPIX will help bring Nexstar under the ownership cap and it will likely put a lot of money back into the Nexstar back account.

Nexstar is buying the Tribune stations for around $4 billion bucks.

No word yet on a buyer for WPIX.