Marshall Broadcasting is a “newly formed minority owned media entity owned 100% by Pluria Marshall Jr.,” according to Nexstar. The company will fund the acquisition through borrowings guaranteed by Nexstar. According to the FCC, African-Americans control less than 1 percent of all television broadcast stations.
“We believe the proposed transaction announced today presents an ideal framework for introducing and incubating a new, minority-controlled entrant to broadcasting, and for bringing additional news, information and specialized programming to MBG’s markets at the earliest possible opportunity,” Nexstar CEO Perry A. Sook said in a statement.
Marshall will launch local news and minority-focused public affairs programs at each station.
“With Nexstar’s support and commitment to guarantee financing for the Shreveport, Odessa-Midland and Quad Cities station purchases, we believe we are establishing a new paradigm that addresses recent proposed FCC regulation changes while expanding the opportunity for minority broadcasters to play a greater role in the U.S. broadcasting industry as owners and operators of television stations,” Marshall said.
More from Nexstar after the jump. Read more