Three Indiana television stations are among five being sold following the acquisition of Virginia-based Media General Inc. (NYSE: MEG) by Texas-based Nexstar Broadcasting Group Inc. (Nasdaq: NXST). The $115 million cash deal includes WFFT-TV in Fort Wayne, WTHI-TV in Terre Haute and WLFI-TV in Lafayette.
The stations are being sold to USA Television MidAmerica Holdings LLC. The remaining stations include KIMT in Rochester, Minnesota and KQTV in Saint Joseph, Missouri. Nexstar says the sale remains subject to FCC approval, other regulatory approvals and the closing of the Nexstar/Media General acquisition.
In January, Nexstar announced it had entered into a definitive agreement to acquire Media General in a $4.6 billion cash and stock deal. Nexstar says shareholders of both companies approved the acquisition earlier this week. The deal is expected to close later this year.