JEGI CLARITY Has Advised The Hill On Their Sale To Nexstar Media

Rhea-AI Summary

Nexstar Media has acquired The Hill, a leading political digital media platform, enhancing its digital offerings. Founded in 1994, The Hill boasts 48 million average monthly users and 914 million video views on Twitter. This acquisition complements Nexstar's record growth, with 91 million monthly users and 7.8 billion pageviews in 2020. Combining forces will allow Nexstar to expand The Hill's reach and revenue, leveraging its existing national cable news network, NewsNation, and local news platforms.

Positive

• Acquisition strengthens Nexstar's digital media portfolio.
• The Hill's audience provides a combined reach of a third of US digital media viewers.
• Nexstar's growth in local news and audience engagement adds value to the acquisition.

Negative

• None.

NEW YORK, Aug. 23, 2021 /PRNewswire/ -- The Hill, advised by JEGI CLARITY, has been sold to Nexstar Media, a wholly-owned subsidiary of Nexstar Media Group, Inc. (Nasdaq: NXST).

Founded in 1994, The Hill is a leading independent, political digital media platform with 48 million average monthly users and 2.2 billion total pageviews in 2020 according to Comscore. The Hill attracts more than 4 million followers, 914 million video views on Twitter and experiences five times more Facebook interactions than other political news websites. With more than 100 journalists who cover political news and events and provide a wide variety of engaging content to its users, The Hill's business model is primarily advertising supported with a blend of direct, programmatic, and licensing revenue.

The acquisition of The Hill complements Nexstar's already leading digital platform, which delivered record growth and audience engagement in 2020, ranking #1 in local news for every month of the year and reaching record key performance indicators, including average monthly users of 91 million and 7.8 billion pageviews according to Comscore. Combined, The Hill and Nexstar are used by a third of all US digital media viewers. Nexstar's omni-channel approach to content distribution will allow it to expand The Hill's reach and revenue channels while creating synergistic opportunities with Nexstar's growing national cable news network, NewsNation, and its leading local news gathering platform, which counts 5,500 journalists producing over 275,000 hours of local and national news annually.

About JEGI CLARITY
JEGI CLARITY is a pre-eminent M&A advisory firm for the media, marketing, information and technology industries.  With a global reach from New York, London, Boston, Sydney and San Francisco, we have closed more than 800 transactions during our 30+ year history. For more information, visit www.jegiclarity.com.

Contact: Kelsey Kovachik, Marketing Director
+1 212 754 0710 | kkovachik@jegiclarity-us.com

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SOURCE JEGI CLARITY

FAQ

What is the significance of Nexstar's acquisition of The Hill?

The acquisition strengthens Nexstar's digital media portfolio and expands its audience reach.

How many users does The Hill attract monthly after being acquired by Nexstar?

The Hill attracts 48 million average monthly users.

What are the financial benefits of The Hill's acquisition for Nexstar (NXST)?

The acquisition allows for expanded revenue channels and synergistic opportunities with Nexstar's existing platforms.

What was Nexstar's audience size before acquiring The Hill?

Nexstar reached 91 million average monthly users before the acquisition.

What is the expected impact of The Hill's acquisition on Nexstar's revenue?

The acquisition is expected to enhance Nexstar's revenue through increased advertising and audience engagement.