Nexstar Media Group, Inc. said it will expand its news footprint in San Diego, Calif. by buying that market’s independent station KUSI in from McKinnon Broadcasting Company and Channel 51 of San Diego for $35 million plus a customary working capital adjustment.
KUSI is an independent television station, broadcasting more than nine hours of local news each weekday and nearly 60 hours of local news every week. Nexstar said that together with its owned and operated Fox affiliate KSWB, the two stations will offer more local news and information programming in the market than all of the other local stations combined.
“KUSI-TV’s established local news operations serving viewers and advertisers across the San Diego community is a perfect fit with our station group and existing San Diego operations at KSWB-TV,” said Tom Carter, Nexstar’s president and chief operating officer. “Their mission of serving the community by delivering the most local news in the market is consistent with Nexstar’s commitment to providing consumers expansive local content on linear and digital platforms.
The transaction is subject to regulatory and other customary approvals and is expected to close later this year.
“I have known Perry Sook, Nexstar’s Chairman and Chief Executive Officer, for more than 30 years,” said KUSI owner and CEO Mike McKinnon. “He is a great broadcaster who has built a tremendous organization. We have a great team of news people at KUSI-TV, and joining these two companies will create one of the most dynamic news organizations in all of Southern California.”