Nexstar Broadcasting Enters into Definitive Agreement to Acquire Four West Virginia Network Affiliated Television Stations for $130 Million in Accretive Transaction

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Go back to Nexstar Broadcasting Enters into Definitive Agreement to Acquire Four West Virginia Network Affiliated Television Stations for $130 Million in Accretive Transaction

Nexstar Broadcasting (NXST) to Acquire Certain West Virginia Media Holdings Assets in $130M Deal

November 17, 2015 7:11 AM EST

Nexstar Broadcasting (NASDAQ: NXST) announced that it entered into a definitive agreement to acquire the assets of three CBS- and one NBC-affiliated television stations serving Charleston/Huntington, West Virginia (DMA #67), Wheeling, West Virginia/Steubenville, Ohio (DMA #157), Bluefield/Beckley, West Virginia (DMA #160) and Clarksburg/Weston, West Virginia (DMA #169) markets for $130.0 million from West Virginia Media Holdings LLC (WVMH). The proposed acquisition is expected to be immediately accretive to Nexstars operating results.

Under the terms of the agreement, Nexstar will enter into a Time Brokerage Agreement (TBA) with WVMH effective upon receipt of Hart-Scott-Rodino (HSR) clearance,... More