The $4.6 billion deal will leave the resulting Nexstar Media Group with171 full-power stations in 100 markers covering nearly 39% of U.S. TV homes.
The $278 million in deals adds stations in Green Bay, Wis., and Davenport, Iowa, as well as three in Fairbanks, Alaska. It now owns 100 stations covering 10.1% of the U.S.
The increase to $377 million is powered by gains in local, national, political and retrans. Digital revenue was down 9% to $40 million.
The NAB tells the FCC that the “merits of the proposed transaction have been thoroughly and comprehensively argued before the FCC, and the Department of Justice has blessed the merger. There is no good reason for further delay.”
The Justice Department says Nexstar must sell seven stations in six markets to buyers vetted by Justice as a condition of approving the $4.6 billion Media General acquisition.
Dish Network and the American Cable Association continue to put pressure on Nexstar’s $4.6 billion purchase of rival broadcaster Media General. Meeting with the FCC along with officials for the International Telephone and Telecommunications Alliance, the pay TV industry reps asked the agency to impose “baseball-style” arbitration for approval of the deal.
The increase to $363 million is powered by across-the-board gains in local, national, political, digital and retrans.
The FCC announced a consent decree with Media General by which Media General agreed to pay a $700,000 “settlement payment” to the U.S. Treasury to settle the investigation of its attempts to enforce the provisions of a joint sales agreement with Schurz Communications.
An analysis of station trading shows the majority of second quarter deals were the result of spinoffs from Nexstar’s acquisition of Media General.
With backing from an Atlanta private equity firm, former Gray exec Bob Prather agrees to pay $115 million for five small-market network affils: Nexstar’s WFFT Ft. Wayne, Ind. (Fox, DMA 111) and KQTV St. Joseph, Mo. (ABC, DMA 201), and Media General’s KIMT Rochester, Minn.; (CBS, DMA 153), WTHI Terra Haute, Ind. (CBS, DMA 155); and WLFI Lafayette, Ind. (CBS, DMA 187).