IRVING, Texas—Nexstar Media Group, Inc. has agreed to acquire the assets of KUSI-TV in San Diego from McKinnon Broadcasting Company and Channel 51 of San Diego for $35 million.
The independent station in the 30th largest U.S. TV market is expected to become a CW affiliate.
KUSI-TV broadcasts more than nine hours of local news each weekday and nearly 60 hours of local news every week. Together with Nexstar’s currently owned and operated KWSB-TV (Fox) in San Diego, the two stations will offer more local news and information programming in the market than all of the other local stations combined, Nexstar reported.
In addition to expanded local news, the planned acquisition of KUSI-TV strengthens Nexstar’s local television broadcasting, news, and digital media platforms in San Diego, while presenting numerous opportunities for operating efficiencies, Nexstar said.
The transaction, subject to regulatory and other customary approvals, is expected to close later this year.
“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,” said Tom Carter, Nexstar’s president and chief operating officer. “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.”
“I have known Perry Sook, Nexstar’s chairman and chief executive officer, for more than 30 years,” added Mike McKinnon, owner & CEO of KUSI-TV. “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.”
Kalil & Co. Inc. was the exclusive broker for McKinnon Broadcasting Company and KUSI-TV.
