Nexstar Broadcasting Group has paid $130 Million for four West Virginia TV stations. The seller is West Virginia Media Holdings (WVMH). That includes WTRF-TV (7 Wheeling), WBOY (12 Clarksburg). WVNS (59 Bluefield), and WOWK (13 Charleston). Nexstar will enter a time brokerage agreement with WVMH where Nexstar will receive the cash flow and pay WVMH an annual fee. The agreement will continue until the assets and licenses are transferred which is expected to be late next year.
Nov 19 2015