On December 3, 2018, Nexstar announced it would acquire the assets of Chicago-based Tribune Media—which has operated CBS affiliate WTKR (channel 3) and CW affiliate WGNT (channel 27) through a shared services agreement with partner company Dreamcatcher Broadcasting since December 2013—for $6.4 billion in cash and debt. Nexstar was precluded from acquiring WTKR/WGNT directly or indirectly while owning WAVY/WVBT, as FCC regulations prohibit common ownership of more than two stations in the same media market, or two or more of the four highest-rated stations in the market. (WAVY and WTKR consistently rank among the top four in terms of total-day viewership in the Norfolk–Virginia Beach–Hampton Roads market, while WVBT and WGNT have occasionally rotated between fourth and fifth place, a situation that allowed for Media General and, later, Nexstar to acquire WVBT directly in their respective group acquisitions involving the WAVY/WVBT duopoly. Furthermore, any attempt by Nexstar to assume the operations of WTKR/WGNT through local marketing or shared services agreements would have been subject to regulatory hurdles that could have delayed completion of the FCC and Justice Department's review and approval process for the acquisition.) As such, on January 31, 2019, Nexstar announced it would retain the WAVY/WVBT duopoly and sell WTKR and WGNT to a different buyer; it was announced on March 20, 2019 that the WTKR/WGNT duopoly, along with sister station WTVR-TV in Richmond, would be sold to the E. W. Scripps Company.