Nexstar Snapping Up New TV Stations

Nexstar Broadcasting Group, Inc. (NASDAQ:NXST), and one of its affiliates will acquire 12 television stations from closely-held Newport Television LLC, in a $285.5 million deal that will substantially increase Nexstar’s geographical footprint. Nexstar will acquire the following 10 stations across seven markets: KTVX and KUCW in Salt Lake City, WPTY and WLMT in Memphis, WYSR in Syracuse, WBGH and WIVT in Binghamton, NY, WETM in Elmira, NY, WJKT in Jackson, TN and WWTI in Watertown, NY. Mission Broadcasting, the affiliate, will acquire KLRT and KASN in Little Rock. “The Newport transaction is a transformational event for Nexstar from a strategic and…