Nexstar Broadcasting Group has announced that it’s buying Las Vegas CBS affiliate KLAS from Landmark Media Enterprises for $145 million.
According to TVNewsCheck, Nexstar’s purchase will expand the company’s reach to 110 stations, serving 58 markets in 23 states. That’s 18% of all U.S. households.
“Under Nexstar’s ownership we intend to build on KLAS’s rich tradition of local programming and local community involvement,” Nexstar Broadcasting Group president-CEO Perry A. Sook said in a statement. “Las Vegas represents a natural complement to our existing operations in the Southwestern region of the United States. KLAS-TV is presently operated by a single station owner, therefore financial results under Nexstar’s ownership will benefit from our scale, expense synergies and proven operating management disciplines.”
The acquisition has to be approved by the FCC and is expected to close in the first half of 2015.