It completes the $35.4 million buy of KGPE Fresno, Calif., and KGET and KKEY-LP Bakersfield, Calif.
Nexstar Closes On Three Calif. Stations
Nexstar Broadcasting Group announced Tuesday that it completed the previously announced acquisition of CBS affiliate KGPE Fresno, Calif. (DMA 55), and KGET and KKEY-LP, the NBC-CW and low-power Telemundo affiliates in Bakersfield, Calif. (DMA 126), from entities controlled by privately-held High Plains Broadcasting Inc. and Newport Television for $35.4 million in a transaction that is expected to be immediately accretive to Nexstar.
Perry A. Sook, chairman, president and chief executive officer of Nexstar, commented: “This transaction is consistent with our acquisition criteria as it further diversifies our operations, creates new duopoly markets and is financially accretive. Together with our announcement earlier this month to acquire the Fresno NBC affiliate, KSEE(TV), Nexstar is creating new duopoly markets in both Fresno and Bakersfield.”