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Light & Wonder is principally an electronic gaming machine manufacturer, selling machines to pubs, clubs, and casinos. The firm is licensed in most jurisdictions allowing gambling globally. Light & Wonder is one of the three largest players in the space along with International Game Technology and Aristocrat Leisure. SciPlay, about one fourth of revenue, develops and distributes casual mobile games, principally in the social casino niche. The more nascent iGaming business sits between these two businesses, providing digital content and capabilities to real-money gaming providers.
Nexstar is the largest television station owner-operator in the United States with over 200 stations in 116 markets, reaching 220 million people. Of its 200 stations, 155 are affiliated with the four national broadcast networks: CBS, Fox, NBC, and ABC. Pending approval, Nexstar's merger with Tegna would bring Nexstar's station total to 259 in 133 markets, reaching 80% of the US population. Nexstar also owns NewsNation (formerly WGN), a cable news network, 75% of the fifth national broadcaster, the CW, and a 31% stake in Food Network and Cooking Channel.