Nexstar, Mission Broadcasting Pay $270M For 19 TV Stations

Law360, New York (April 25, 2013, 3:07 PM EDT) -- Nexstar Broadcasting Group Inc. on Wednesday said it and frequent partner Mission Broadcasting Inc. will buy fellow broadcast television station owners Communications Corporation of America and White Knight Broadcasting for $270 million, netting the companies 19 additional stations.

Under the terms of the deal, Irving, Texas-based Nexstar will acquire 11 of CCA's stations and will enter into service agreements with other parties, including Ohio-based Mission, which is set to pick up the remaining eight stations. The purchases will be funded by cash on hand as well...
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