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Nexstar Broadcasting enters agreements to acquire two stations for $19.45M.

Nexstar Media Group announced that its subsidiary, Nexstar Broadcasting, has entered into definitive agreements with KRBK to acquire KRBK-TV, the FOX affiliate serving Springfield, Missouri, and with Huntsville TV to acquire WHDF-TV, the CW affiliate serving Huntsville, Alabama for an aggregate purchase price of $19.45M, plus certain price adjustments and capital expenditure requirements. The proposed transactions are expected to be immediately accretive to Nexstar's operating results upon closing. The company intends to finance the station acquisitions with cash from operations and borrowings under its senior credit facilities. Pursuant to local marketing agreements, Nexstar began operating WHDF-TV on July 15, 2018 and KRBK-TV on August 1, 2018. The transactions are subject to FCC and other customary approvals, and are expected to close in the fourth quarter of 2018.

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Publication:The Fly
Date:Aug 2, 2018
Words:128
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