Nexstar Broadcasting has entered into a definitive agreement to sell five stations in five markets after the FCC approves its acquisition of Media General.
The deal for $155 million in cash sends WFFT in Fort Wayne, Ind., KIMT in Rochester, Minn., WTHI in Terre Haute, Ind., WLFI in Lafayette, Ind., and KQTV in St. Joseph, Mo., to MSouth Equity partners and Heartland Media affiliate, USA Television MidAmerica Holdings.
Nexstar says, the divestiture, “reflects Nexstar’s stated intention to divest certain television stations in order to comply with the Federal Communication Commission’s local and national television ownership rules and to obtain FCC and Department of Justice approval of the proposed Nexstar / Media General transaction.”
Two weeks ago, Nexstar announced plans to sell KWQC in the Quad Cities and WBAY in Green Bay, Wisc. It sold 5 other stations in 4 markets the week before to Graham Media Group.