with Tribune Media for $6.4 billion ($4.1 billion for all of Tribune's shares in cash and $2.3 billion of Tribune's debt). The merge would give the company 216 stations in 118 markets, placing it just below the FCC's market cap of 39% of TV households and making it the largest owner of television stations in the United States. On August 1, 2019, the United States Department of Justice approved the deal between Nexstar Media Group and Tribune Media. The sale was approved by the FCC on September 16, and occurred on September 19. Television production and distribution Tribune Entertainment Tribune Entertainment was Tribune's television production, syndication and advertising sales subsidiary. Founded in 1981, this subsidiary produced and/or distributed several first-run syndicated programs including most notably Geraldo, Soul Train, and the U.S. Farm Report; Tribune Entertainment's production and syndication divisions were shut down in December 2007. Tribune Studios On March 19, 2013, Tribune Company announced its return to television production with the formation of Tribune Studios (not to be confused with the Los Angeles studio facility that formerly held the same name until its sale by Tribune to private equity firm Hudson Capital in 2008, and was subsequently renamed Sunset Bronson Studios). The new company will produce programs primarily for Tribune Broadcasting's television stations and WGN America, some of which will receive national distribution. On September 17, 2019, Tribune Studios, the television parent of Tribune Broadcasting, was acquired by Nexstar, and the television company went disbanded shortly. Tribune-owned stations Tribune Broadcasting owned 39 television stations located in 33 markets (including eight duopolies). 31 of its stations were affiliated with each of the post-1986 broadcast networks: 14 were affiliated with Fox (not counting a satellite station of KDVR), 12 with The CW and three with MyNetworkTV (not counting a digital subchannel of WQAD-TV). In addition, the company owned five CBS affiliates (not counting a satellite of WTTV), two ABC affiliates, two NBC affiliates and one independent station. It also provided operational services to three stations (one ABC affiliate, one CBS affiliate and one CW affiliate – the latter two were also operated as part of a duopoly) in the respective markets of Norfolk-Hampton Roads-Newport News, Virginia and Scranton-Wilkes-Barre, Pennsylvania through shared services agreements with Dreamcatcher Broadcasting. WGN Radio was the company's sole remaining radio station and served as the flagship station for a regional distribution service known as the Tribune Radio Network.