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Nexstar To Buy Four North Dakota CBS-Affiliated TV Stations

Nexstar Broadcasting Group Inc (NXST) on Thursday agreed to acquire four CBS-affiliated television stations serving the Minot-Bismarck-Dickinson-Williston, North Dakota market for $44 million from Reiten Television Inc.

The deal is expected to close in the late 2015 / early 2016, and is to be immediately accretive to Nexstar's operating results there upon.

Nexstar will also provide sales and other services to the market's two ABC-affiliated television stations owned by Forum Communications pursuant to Reiten's services agreement with Forum.

The deal further broadens Nexstar's local television broadcasting and digital media platform with stations that are geographically complementary to the company's operating base while presenting significant synergies.

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