Five TV stations in four markets will be sold to comply with the Federal Communications Commission’s station ownership cap rules, reports TVNewsCheck.
“Nexstar is selling WCWJ, the CW affiliate in Jacksonville, Fla. (DMA 47), and WSLS, the NBC affiliate in Roanoke-Lynchburg, Va. (DMA 69), to Graham Media Group for $120 million,” the story says.
The article continues, “In addition, Nexstar will sell KADN (Fox) and KLAF-LD (NBC) Lafayette, La. (DMA 121), to Bayou City Broadcasting Lafayette for $40 million in cash. BCBL is a minority-led broadcaster owned by affiliates of Bain Capital Credit and Bayou City Broadcasting, the latter of which is owned by DuJuan McCoy, who serves as BCBL’s president-CEO. Nexstar also is selling KREG Denver (DMA 17) to Marquee Broadcasting.”
The reason for the station sell-offs is because Nexstar, as previously announced, is buying Media General.
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