(edited from TVNewsCheck.com) – Confirming a Wall Street Journal story yesterday, Newport Television today announced that it is selling 22 of its 27 full-power stations to three buyers — Nexstar Broadcasting Group, Sinclair Broadcast Group Inc. and Cox Media Group — for a total of approximately $1 billion.
Providence Equity Partners, the private equity firm that owns Newport, announced last March it was looking to unload the station group. It bought the stations from Clear Channel Communications in 2007 for just over $1.1 billion
Cox Media Group comes out with four stations in two markets, including Jacksonville’s WTEV-TV and WAWS-TV, for an undisclosed price.
Sinclair Broadcast Group is getting six stations in five markets, including Mobile/Pensacola’s WPMI-TV and WJTC-TV, for $412.5 million….Cont….