The Nexstar Broadcasting/Mission Broadcasting juggernaut continues, as a single, $270 million deal gives the two companies control of 19 stations in 10 markets in three states.
The companies are snatching up the properties, which include 10 digital subchannels, from Communication Corporation of America of Boston.
Under the terms of the agreement, Nexstar will acquire 11 of the CCA stations and Mission will acquire nine. Nexstar and Mission will enter into shared service agreements, according to a statement. The transaction is pending FCC approval and expected to close in the fourth quarter of 2013.
The stations are in Louisiana, Texas and Indiana.
In Little Rock, Mission Broadcasting of Westlake, Ohio, owns KLRT-TV, Channel 16, and KASN-TV, Channel 38; Nexstar Broadcasting of Irving, Texas, owns KARK-TV, Channel 4, and KARZ-TV, Channel 42. The two companies jointly operate all four under an shared services arrangement. Nexstar and Mission have similar set ups in markets throughout the country.
- Heartbleed? No Need for Heart Attack, We've Got Help, Advice
- CMS Database Shows Medicare Payments to Doctors, Others in 2012
- NY Post Reports Alice Walton Might Be Buyer of $70M Penthouse
- Drones Take Place of News Choppers 5 hours ago
- Wal-Mart Used Technology to Become Supply Chain Leader 2 years ago
- $42.6 Million Transaction Visits Foothills Apartments (Real Deals) 5 hours ago
- Slim Chickens' Goal: By 2025, 600 Outlets 5 hours ago
- Changing Business Models in Midair 5 hours ago