In what it’s calling a first step towards getting approval for its proposed merger with Media General, Nexstar Broadcasting says it’s selling five stations to three different ownership groups.
The station group says it will announce more sales shortly in order to meet the 39 percent cap required for approval of its merger.
Graham Media Group is picking up WSLS the NBC affiliate in Roanoke, Va., and WCWJ, the CW affiliate in Jacksonville, Fla. for $120 million.
Bayou City Broadcasting is buying Lafayette, La., NBC affiliate KLAF and Fox affiliate KADN for $40 million. Bayou City is a minority-led broadcaster owned by affiliates of Bain Capital Credit, LP and Bayou City Broadcasting, LLC.
Woman-owned Marquee Broadcasting is buying KREG in Denver. KREG is a satellite station of Nexstar-owned CBS affiliate KREX which will stop operating as a satellite as soon as the sale is approved.
The sale of WCWJ and WSLS to Graham Media and KADN and KLAF to Bayou City Broadcasting are subject the closing of the Nexstar and Media General merger announced in January.