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Nexstar Media Group to Expand Presence in Cleveland With Acquisition of WBNX-TV/TV55

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Nexstar Media Group (NASDAQ: NXST) has agreed to acquire WBNX-TV/TV55 in Cleveland, Ohio from Winston Broadcasting Company. This acquisition will create a duopoly in the nation's 19th largest TV market, where Nexstar already owns WJW-TV (FOX). WBNX-TV, currently an independent station, will become a CW Network affiliate on September 1, 2025. The transaction is expected to close in 2025 and will be accretive to Nexstar's operating results. The deal strengthens Nexstar's presence in Cleveland and Ohio, a political battleground state, complementing WJW-TV's local news leadership with CW sports and entertainment programming.

Nexstar Media Group (NASDAQ: NXST) ha concordato di acquisire WBNX-TV/TV55 a Cleveland, Ohio, dalla Winston Broadcasting Company. Questa acquisizione creerà un duopolio nel 19° mercato televisivo più grande del paese, dove Nexstar possiede già WJW-TV (FOX). WBNX-TV, attualmente una stazione indipendente, diventerà affiliata della CW Network il 1° settembre 2025. Si prevede che la transazione si concluda nel 2025 e sarà positiva per i risultati operativi di Nexstar. L'accordo rafforza la presenza di Nexstar a Cleveland e Ohio, uno stato chiave dal punto di vista politico, integrando la leadership informativa locale di WJW-TV con la programmazione sportiva e di intrattenimento della CW.

Nexstar Media Group (NASDAQ: NXST) ha acordado adquirir WBNX-TV/TV55 en Cleveland, Ohio, de la Winston Broadcasting Company. Esta adquisición creará un duopolio en el 19° mercado de televisión más grande del país, donde Nexstar ya posee WJW-TV (FOX). WBNX-TV, que actualmente es una estación independiente, se convertirá en afiliada de la CW Network el 1 de septiembre de 2025. Se espera que la transacción se cierre en 2025 y será beneficiosa para los resultados operativos de Nexstar. El acuerdo fortalece la presencia de Nexstar en Cleveland y Ohio, un estado clave políticamente, complementando el liderazgo en noticias locales de WJW-TV con la programación de deportes y entretenimiento de la CW.

Nexstar Media Group (NASDAQ: NXST)가 Winston Broadcasting Company로부터 오하이오 주 클리블랜드에 위치한 WBNX-TV/TV55를 인수하기로 합의했습니다. 이 인수로 인해 미국에서 19번째로 큰 TV 시장에서 듀오폴리가 형성될 것이며, Nexstar는 이미 WJW-TV (FOX)를 소유하고 있습니다. 현재 독립 방송국인 WBNX-TV는 2025년 9월 1일에 CW 네트워크 소속으로 전환됩니다. 이 거래는 2025년까지 마무리될 것으로 예상되며 Nexstar의 운영 결과에 긍정적인 영향을 미칠 것입니다. 이 거래는 클리블랜드와 오하이오주에서 Nexstar의 입지를 강화하며, WJW-TV의 지역 뉴스 리더십에 CW 스포츠와 엔터테인먼트 프로그램을 보완하게 됩니다.

Nexstar Media Group (NASDAQ: NXST) a accepté d'acquérir WBNX-TV/TV55 à Cleveland, Ohio, de la Winston Broadcasting Company. Cette acquisition créera un duopole sur le 19ème plus grand marché de la télévision du pays, où Nexstar possède déjà WJW-TV (FOX). WBNX-TV, actuellement une station indépendante, deviendra affiliée au CW Network le 1er septembre 2025. La transaction devrait être finalisée en 2025 et sera bénéfique pour les résultats opérationnels de Nexstar. Cet accord renforce la présence de Nexstar à Cleveland et dans l'Ohio, un État clé sur le plan politique, en complétant le leadership de WJW-TV en matière d'informations locales avec la programmation sportive et de divertissement de CW.

Nexstar Media Group (NASDAQ: NXST) hat zugestimmt, WBNX-TV/TV55 in Cleveland, Ohio, von der Winston Broadcasting Company zu erwerben. Diese Übernahme wird ein Duopol im 19. größten TV-Markt des Landes schaffen, wo Nexstar bereits WJW-TV (FOX) besitzt. WBNX-TV, derzeit ein unabhängiger Sender, wird am 1. September 2025 ein Affiliate der CW Network. Es wird erwartet, dass die Transaktion 2025 abgeschlossen wird und sich positiv auf die Betriebsergebnisse von Nexstar auswirken wird. Der Deal stärkt die Präsenz von Nexstar in Cleveland und Ohio, einem politischen Schlüsselstaat, und ergänzt die lokale Nachrichtenführerschaft von WJW-TV mit CW-Sport- und Unterhaltungsprogrammen.

Positive
  • Creation of a duopoly in the 19th largest US TV market
  • Transaction will be accretive to operating results
  • Strategic expansion in a key political battleground state
  • Diversification of programming through CW Network affiliation
Negative
  • None.

Insights

This strategic acquisition in Cleveland represents a significant market expansion for Nexstar. Creating a duopoly in the 19th largest TV market strengthens their competitive position and revenue potential. The deal's value is enhanced by three key factors: 1) The conversion to CW affiliation will bring established programming and advertising opportunities, 2) The timing aligns with the 2025 political cycle in the important Ohio battleground state, potentially increasing political ad revenue and 3) The operational synergies with existing WJW-TV operations should improve cost efficiency.

While financial terms weren't disclosed, the acquisition's accretive nature to operating results post-CW conversion suggests positive earnings impact. The move aligns with Nexstar's broader strategy of expanding market presence while diversifying content offerings. The Cleveland market's size and political significance make this a particularly valuable addition to Nexstar's portfolio.

Acquisition Creates a Nexstar Duopoly in Nation’s 19th Largest TV Market and Political Battleground State

Station Will Become a CW Affiliate on September 1, 2025

IRVING, Texas--(BUSINESS WIRE)-- Nexstar Media Group, Inc. (NASDAQ: NXST), today announced that it has agreed to acquire the assets of WBNX-TV/TV55 in Cleveland, Ohio, from the Winston Broadcasting Company. The acquisition will create a duopoly for Nexstar in the nation’s 19th largest television market, where the company already owns and operates WJW-TV (FOX).

WBNX-TV is currently an independent television station and will, under Nexstar’s ownership, become an affiliate of The CW Network on Sept. 1, 2025. The transaction, subject to regulatory and other customary approvals, is expected to close in 2025 and will be accretive to Nexstar’s operating results pro forma for the conversion to a CW affiliation. Financial terms of the transaction were not disclosed.

“The acquisition of WBNX-TV strengthens our presence in Cleveland, a top-20 television market, and in the political battleground state of Ohio,” said Andrew Alford, President of Nexstar’s broadcasting division. “WBNX-TV will complement our existing operations at WJW-TV, the local news leader in Cleveland, by diversifying our programming for viewers and advertisers with the addition of CW sports and entertainment programming.”

About Nexstar Media Group, Inc.

Nexstar Media Group, Inc. (NASDAQ: NXST) is a leading diversified media company that produces and distributes engaging local and national news, sports and entertainment content across its television and digital platforms, including more than 310,000 hours of programming produced annually by its business units. Nexstar owns America’s largest local television broadcasting group comprised of top network affiliates, with 200 owned or partner stations in 116 U.S. markets reaching 220 million people. Nexstar’s national television properties include The CW, America’s fifth major broadcast network, NewsNation, our national news network providing “News for All America,” popular entertainment multicast networks Antenna TV and Rewind TV, and a 31.3% ownership stake in TV Food Network. The Company’s portfolio of digital assets, including its local TV station websites, The Hill and NewsNationNow.com, are collectively a Top 10 U.S. digital news and information property. For more information, please visit nexstar.tv.

Media Contact:

Gary Weitman

EVP and Chief Communications Officer

Nexstar Media Group, Inc.

972-373-8800 or gweitman@nexstar.tv

Investor Contact:

Joe Jaffoni or Jennifer Neuman

JCIR

212/835-8500 or nxst@jcir.com

Source: Nexstar Media Group, Inc.

FAQ

When will WBNX-TV become a CW affiliate under Nexstar (NXST)?

WBNX-TV will become a CW Network affiliate on September 1, 2025, under Nexstar's ownership.

What stations will Nexstar (NXST) own in Cleveland after the WBNX-TV acquisition?

After the acquisition, Nexstar will own both WBNX-TV and WJW-TV (FOX) in Cleveland, creating a duopoly in the market.

When is Nexstar's (NXST) acquisition of WBNX-TV expected to close?

The acquisition is expected to close in 2025, subject to regulatory and other customary approvals.

How will the WBNX-TV acquisition affect Nexstar's (NXST) operating results?

The transaction will be accretive to Nexstar's operating results pro forma for the conversion to a CW affiliation.

Nexstar Media Group, Inc.

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