Nexstar to fund television station buy with senior credit facilities

By Tali Rackner

Norfolk, Va., Nov. 17 – Nexstar Broadcasting Group, Inc. plans to use borrowings under its senior credit facilities to finance its acquisition of the assets of three CBS- and one NBC-affiliated television stations from West Virginia Media Holdings LLC, according to a press release.

The stations serve the Charleston/Huntington, W.Va. (DMA #67), Wheeling, W.Va./Steubenville, Ohio (DMA #157), Bluefield/Beckley, W.Va. (DMA #160) and Clarksburg/Weston, W.Va. (DMA #169) markets.

The $130 million acquisition will also be funded with cash generated from operations.

Nexstar is an Irving, Texas-based diversified media company.

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