Nexstar to use borrowings under facilities to acquire two TV stations

By Sarah Lizee

Olympia, Wash., Aug. 2 – Nexstar Media Group, Inc. plans to use borrowings under its senior credit facilities to help fund its acquisition of KRBK-TV and WHDF-TV, according to a press release.

The company announced on Thursday that subsidiary Nexstar Broadcasting, Inc. has entered into definitive agreements with KRBK LLC to acquire KRBK-TV, the FOX affiliate in Springfield, Mo., and with Huntsville TV LLC to acquire WHDF-TV, the CW affiliate in Huntsville, Ala., for a total purchase price of $19.45 million plus some price adjustments and capital expenditure requirements.

Cash from operations will also be used to fund the transactions, Nexstar said.

The transactions are subject to FCC and other customary approvals and are expected to close in the fourth quarter of 2018.

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

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