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Posts Tagged ‘Communications Corp. of America’

Nexstar Sells Evansville Station for $18.6 Million

nexstar_304Nexstar has announced it is selling Evansville CBS affiliate WEVV for $18.6 million to minority led broadcaster Bayou City Broadcasting Evansville, Inc.

“The proposed transaction announced today highlights our focus on completing pending transactions and represents the second time in the last two months that Nexstar has structured an agreement that furthers the FCC’s goal of increasing minority television ownership diversity,” Nexstar chairman, president and CEO Perry Sook said in a statement.

WEVV is owned by Communications Corp. of America. Nexstar and Mission Broadcasting announced they were buying CCA last April for $270 million.

According to the Nexstar press release, “The sale of WEVV to BCB brings the overall CCA transaction into compliance with Department of Justice requirements for approval and will release the pending transaction from hold pending divestiture.”

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Nexstar to Acquire CCA Stations For $270M

As expected, Nexstar Broadcasting and Mission Broadcasting have announced an agreement to acquire Communications Corporation of America’s station group. Nexstar and Mission will pay will pay $270 million for CCA’s 19 stations and seven associated digital subchannels in 10 markets.

Under the terms of the agreement, Nexstar will acquire 11 of the CCA stations and Mission will acquire eight. 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.

“Nexstar is a premier TV broadcasting company that has grown in a disciplined fashion. We are pleased that the CCA stations will become part of Nexstar’s expanded footprint giving them the benefits of increased scale to build on the momentum we have created over the past several years,” CCA chairman Peter Markham said.

A full list of CCA’s stations are after the jump. Read more

Report: Nexstar to Acquire CCA Stations

Nexstar Broadcasting is poised to buy Communications Corp. of America, TVNewsCheck reports. The company has signed a letter of intent and is in the process of conducting due diligence on “12 stations in smaller markets”:

CCA stations are in markets ranging Shreveport, La. (DMA 82), to Alexandria, La. (DMA 179). Nexstar’s portfolio ranges from Washington (DMA 8) to St. Joseph, Mo. (DMA 201). Most are in mid-size to smaller markets.

The acquisition would boost Nexstar’s station count to roughly 84, bump up its duopoly count by at least one and enhance its already strong presence in Louisiana and Texas.

TVNewsCheck reports the two companies hope to make a formal announcement by April 6.