Nexstar Media Group to Expand Leading Local News Presence in San Diego With Acquisition of KUSI-TV For $35 Million
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Monday, May 8, 2023
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Nexstar Media Group, Inc. (Nasdaq: NXST), today announced that it agreed to acquire the assets of KUSI-TV in San Diego from McKinnon Broadcasting Company and Channel 51 of San Diego for $35 million plus a customary working capital adjustment.
Key Points:
- Nexstar Media Group, Inc. (Nasdaq: NXST), today announced that it agreed to acquire the assets of KUSI-TV in San Diego from McKinnon Broadcasting Company and Channel 51 of San Diego for $35 million plus a customary working capital adjustment.
- KUSI-TV is an independent television station, broadcasting more than nine hours of local news each weekday and nearly 60 hours of local news every week.
- The planned acquisition of KUSI-TV strengthens Nexstar’s local television broadcasting, news, and digital media platforms in San Diego, while presenting numerous opportunities for operating efficiencies.
- “KUSI-TV’s established local news operations serving viewers and advertisers across the San Diego community is a perfect fit with our station group and existing San Diego operations at KSWB-TV,” said Tom Carter, Nexstar’s President and Chief Operating Officer.