The seller is West Virginia Media Holdings. With subchannels, the four stations have seven affiliations with Big Four networks. Nexstar says it is paying 6.3 times 2015-16 cash flow of the stations, including synergies, The acquisition, subject to regulatory approval, is immediately accretive to its operating results, it says.
West Virginia Media Holdings is outfitting its four stations in the state with Harris OSi-Traffic and OSi-AdConnections to aid in cross-market selling and reporting.
West Virginia Media Holdings and Grant Broadcasting are moving 16 stations and two publications to the WorldNow Web, mobile and video platforms. Under their newly signed agreement, WorldNow will also provide local sales training and a national ad sales network.
In dozens of markets, ABC, CBS, Fox and NBC are found on the digital subchannels of full-power stations. The Big Four-D2 affiliations work for the networks and they work for the stations, which might otherwise fill subchannels with second-tier broadcast networks like CW or MNT or one of the myriad start-up networks like ThisTV, LATV, RTN or TheCoolNetwork.