KUSI Television Acquired by Nexstar Media Group
Nexstar Media Group, a leading diversified media company, recently announced the acquisition of KUSI-TV in San Diego from McKinnon Broadcasting Company for $35 million. This strategic move strengthens Nexstar’s presence in the San Diego market, adding to their existing KSWB-TV (FOX) station. The combined power of these two stations will provide comprehensive local news coverage, surpassing all other local stations in the market.
KUSI Television: A San Diego News Powerhouse
KUSI-TV, an independent television station, broadcasts over nine hours of local news each weekday, totaling nearly 60 hours per week. The acquisition of Kusi Television significantly expands Nexstar’s local news capabilities in San Diego, the nation’s 30th largest television market. Viewers can expect unparalleled coverage of breaking news, weather, sports, and community events.
Nexstar Expands its Reach in San Diego
The addition of KUSI television to Nexstar’s portfolio allows for enhanced local broadcasting, news delivery, and digital media presence in San Diego. This acquisition also presents opportunities for operational efficiencies, further solidifying Nexstar’s position in the market. The transaction awaits regulatory and customary approvals and is anticipated to close later this year. It is projected to be accretive to Nexstar’s operating results upon the availability of The CW Network affiliation in the market.
A Strategic Partnership for Local News
Tom Carter, Nexstar’s President and Chief Operating Officer, emphasized the alignment of KUSI-TV’s mission with Nexstar’s commitment to providing comprehensive local content on both linear and digital platforms. He highlighted KUSI’s dedication to serving the community through extensive local news coverage. Furthermore, Carter noted Nexstar’s expansive platform reach, growing digital media revenue, commitment to unbiased reporting, and strong financial focus as key factors in enhancing shareholder value.
Mike McKinnon, Owner & CEO of KUSI-TV, expressed his confidence in the partnership, citing Nexstar Chairman and CEO Perry Sook’s long-standing reputation as a successful broadcaster. He anticipates the combined strength of the two companies will create a leading news organization in Southern California. Kalil & Co. Inc. served as the exclusive broker for McKinnon Broadcasting Company and KUSI-TV in this transaction.
About Nexstar Media Group
Nexstar Media Group is a leading diversified media company delivering engaging local and national news, sports, and entertainment content across various platforms. With a vast network of owned or partner stations, national television properties including The CW and NewsNation, and a strong digital presence, Nexstar reaches millions of people across the United States. The company remains committed to providing exceptional content and premium advertising opportunities. For more information, visit Nexstar.tv.
