An investigation on behalf of investors, who currently hold shares of Tribune Media Company (NYSE: TRCO), was announced concerning whether the takeover of Tribune Media Company is unfair to NYSE: TRCO stockholders.

The investigation by a law firm concerns whether certain officers and directors of Tribune Media Company breached their fiduciary duties owed to NYSE: TRCO investors in connection with the proposed acquisition.

On December 3, 2018, Nexstar Media Group, Inc. (Nasdaq: NXST) and Tribune Media Company (NYSE: TRCO) announced that they have entered into a merger agreement whereby Nexstar will acquire all outstanding shares of Tribune Media for $46.50 per share in a cash transaction that is valued at $6.4 billion including the assumption of Tribune Medias outstanding debt.

However, given that at least one analyst has set the high target price at $48.00 per NYSE: TRCO shares, the investigation concerns whether the offer is unfair to Tribune Media Company (NYSE: TRCO stockholders. More specifically, the investigation concerns whether the Tribune Media Company (NYSE: TRCO Board of Directors undertook an adequate sales process, adequately shopped the company before entering into the transaction, maximized shareholder value by negotiating the best price, and acted in the shareholders' best interests in connection with the proposed sale.