A $4.6 billion national broadcast ownership deal is now complete, resulting in the sale of three Indiana television stations. Texas-based Nexstar Broadcasting Group Inc. (Nasdaq: NXST) has received final approval from the Federal Communications Commission on the acquisition of licenses held by Media General Inc. (NYSE: MEG). Due to market ownership regulations, the deal also involves the sell-off of five stations that were owned by Nexstar or Media General to USA Television MidAmerica Holdings LLC.
The group of divested stations includes Ft. Wayne’s WFFT-TV, a FOX affiliate, Terre Haute’s WTHI-TV, a partner of Inside INdiana Business and a CBS affiliate, and Lafayette’s WLFI-TV, a CBS affiliate. USA Television, the new owner of the five properties in Indiana, Minnesota and Missouri, will pay $115 million.
Post-acquisition, Nexstar will still have a significant footprint in Indiana:
- WANE-TV, a CBS affiliate in Fort Wayne, is owned by Nexstar, as is WISH-TV/WNDY-TV in Indianapolis. Both were previously owned by Media General.
- WTWO-TV, an NBC affiliate in Terre Haute, and our partners at WEHT-TV, an ABC affiliate in Evansville, are owned by Nexstar.
- Our partners at WTVW-TV, a CW affiliate in Evansville, and WAWV-TV, an ABC affiliate in Terre Haute, are operated by Mission Broadcasting Inc. in a shared service agreement.
You can connect to more about the completed deal by clicking here.