Nexstar Broadcasting has announced an agreement to buy WEHT, the Evansville, IN ABC affiliate, from Gilmore Broadcasting for $18.5 million.
Nexstar will finance the purchase by divesting assets of WTVW — the Nexstar-owned independent station in Evansville — to Mission Broadcasting, which is a company set up by Nexstar to operate duopolies in 13 other markets. This transaction will provide a local services agreement between Mission and Nexstar, allowing WTVW and WEHT to share services in Evansville.
The two agreements are a result of WTVW losing its Fox affiliation last month after a long battle with Nexstar over retransmission fees. Evansville is one of four markets — including Terre Haute and Fort Wayne, IN, and Springfield, MO — where Nexstar and Fox have parted ways.
The purchase of WEHT is pending FCC approval and is expected to close by the end of 2011.