Nexstar Media Group and Fox Corp. announced Tuesday afternoon station sales between the two companies.
Nexstar will purchase from Fox Corp., the Charlotte, N.C. (DMA 21), Fox affiliate WJZY and MyNetworkTV affiliate WMYT for approximately $45 million in cash.
Fox is buying from Nexstar the Seattle (DMA 13) Fox affiliate KCPQ and MyNetworkTV affiliate KZJO and the Milwaukee (DMA 35) Fox affiliate WITI for approximately $350 million in cash, subject to customary adjustments.
TV NewsCheck report those stations align with the Fox’s sports rights and the transaction will expand Fox Television Stations’ market presence to 14 of the top 15 DMAs.
Nexstar said its addition of WJZY-WMYT in Charlotte is “geographically complementary to Nexstar’s existing operations in North Carolina, South Carolina, Tennessee and Virginia while presenting financial and operating synergies with the company’s station portfolio and digital operations.