DOJ Reaches Settlement With Nexstar Over CCA Deal
The Department of Justice reached a settlement agreement with Nexstar Wednesday that will allow the broadcaster to complete its proposed buy of Communications Corporation of America, pending FCC approval, according to a DOJ news release. As part of an agreement…
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first announced in August (see 1408060049), Nexstar will sell WEVV-TV (CBS and Fox) Evansville, Indiana, to African American-owned Bayou City Broadcasting. Without the divestiture, Nexstar “would have gained a dominant position in broadcast television spot advertising in the Evansville, Indiana area, resulting in higher prices to advertisers,” DOJ said. The Nexstar-CCA transaction is valued at around $270 million according to DOJ, while WEVV will sell for $18.6 million, Nexstar said in August.