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Nexstar Broadcasting has agreed to purchase WCWJ-TV, The CW affiliate in Jacksonville, Fla. from Media General, for undisclosed terms. The deal, announced Wednesday (Jan. 28) will give Nexstar its first station in the state of Florida and bring the total number of TV stations in its portfolio to 52.
As a consolidator of TV stations in midsize markets, WCWJ-TV — in the nation’s 47th largest TV market and the state’s most populated city (Jacksonville) — fits the bill.
“Nexstar will offer Jacksonville viewers CW programming as well as top quality local sports and syndicated programming. We’ll also bring effective on-air and online marketing solutions to local and national advertisers including the launch of Nexstar’s differentiated e-MEDIA offerings through our proven community portal model,” said Perry Sook, president and CEO for Nexstar.
The sale of WCWJ is the last of the five stations Media General put on the block last year to raise much needed cash.
“When the sale is completed, we will use the proceeds to pay down debt,” said Marshall Morton, president and CEO of Media General. The company expects total proceeds of $95 to $100 million for the sale of all five stations.
