Nexstar Broadcasting is poised to buy Communications Corp. of America, TVNewsCheck reports. The company has signed a letter of intent and is in the process of conducting due diligence on “12 stations in smaller markets”:
CCA stations are in markets ranging Shreveport, La. (DMA 82), to Alexandria, La. (DMA 179). Nexstar’s portfolio ranges from Washington (DMA 8) to St. Joseph, Mo. (DMA 201). Most are in mid-size to smaller markets.
The acquisition would boost Nexstar’s station count to roughly 84, bump up its duopoly count by at least one and enhance its already strong presence in Louisiana and Texas.
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TVNewsCheck reports the two companies hope to make a formal announcement by April 6.