Today, Nexstar Media Group, Inc. announced the company is spending $35 million to acquire the assets of one more local television news station, KUSI-TV Channel 51 in San Diego.
“KUSI-TV’s established local news operations serving viewers and advertisers across the San Diego community is a perfect fit with our station group and existing San Diego operations at KSWB-TV. Their mission of serving the community by delivering the most local news in the market is consistent with Nexstar’s commitment to providing consumers expansive local content on linear and digital platforms,” says Tom Carter, Nexstar’s President and Chief Operating Officer.
KUSI-TV is an independent television station that broadcasts over 60 hours of local news weekly.
“I have known Perry Sook, Nexstar’s Chairman and Chief Executive Officer, for more than 30 years. He is a great broadcaster who has built a tremendous organization. We have a great team of news people at KUSI-TV, and joining these two companies will create one of the most dynamic news organizations in all of Southern California,” said Mike McKinnon, Owner & CEO of KUSI-TV
Nexstar Media Group, which already operates KWSB-TV (FOX), is expanding its coverage of local news in the San Diego area as it preps for The CW Network affiliation when that becomes available on the market. This merger allows the company to cover more breaking news, weather, sports, community stories, and other local news than every other local station combined.
“In addition, Nexstar’s platform reach, expanding digital media revenue, commitment to unbiased news and reporting across the enterprise, the return of political advertising revenue in 2024, and our focus on our balance sheet and shareholder returns will enable us to extend our record of enhancing shareholder value on a near- and long-term basis.”
The deal is expected to be finalized sometime later this year.