Nexstar Closes on Media General purchase, what’s next?

(edited from TVNewsCheck.com) – From this day forward, Nexstar Broadcasting Group will be known as Nexstar Media Group.

The name change coincides with Nexstar closing on its acquisition of Media General for $4.6 billion in cash and stock just six days after winning FCC approval.

 The deal swells Nexstar’s portfolio to 171 full-power stations,  in 100 markers covering nearly 39% of TV homes. The new stations include 15 in the top 50 markets.

Florida stations involved in the deal include WFLA/WTTA – Tampa, WMBB – Panama City and WKRG/WFNA – Mobile/Pensacola. Jacksonville’s WCWJ was divested and sold to Graham Media Group, earlier in the year to ensure that the merger deal went through.

Those numbers would be higher, except that Nexstar had to spin off 13 stations for $548 million to comply with FCC ownership limits….Cont….

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