M&A Deal Summary

Nexstar Media Group Acquires Media General

On January 27, 2016, Nexstar Media Group acquired media company Media General for 4.6B USD

Acquisition Highlights
  • This is Nexstar Media Group’s 3rd transaction in the Media sector.
  • This is Nexstar Media Group’s 2nd largest (disclosed) transaction.
  • This is Nexstar Media Group’s 5th transaction in the United States.
  • This is Nexstar Media Group’s 1st transaction in Virginia.

M&A Deal Summary
Date 2016-01-27
Target Media General
Sector Media
Buyer(s) Nexstar Media Group
Deal Type Add-on Acquisition
Deal Value 4.6B USD
Advisor(s) RBC Capital Markets
Goldman Sachs (Financial)
Fried Frank Harris Shriver & Jacobson LLP
Weil Gotshal & Manges (Legal)

Target

Media General

Richmond, Virginia, United States
website
Media General is a provider of news, information and entertainment across broadcast television, digital media and mobile platforms, serving consumers and advertisers in strong local markets. The company's broadcast operations include 31 network-affiliated television stations and their associated digital and mobile media services. Media General's network affiliations include 12 CBS stations, 9 NBC, 7 ABC, and one each for FOX, CW and MNT.

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Buyer(S) 1

Buyer

Nexstar Media Group

Irving, Texas, United States

website

Category Company
Founded 1996
Sector Media
Employees11,160
Revenue 4.6B USD (2021)
DESCRIPTION

Nexstar Media Group is a media company that leverages localism to bring new services and value to consumers and advertisers through its traditional media, digital and mobile media platforms. Nexstar owns, operates, programs or provides sales and other services to 170 television stations and related digital multicast signals reaching 100 markets or approximately 39% of all U.S. television households. Nexstar Media Group was founded in 1996 and is based in Irving, Texas.

DEAL STATS #
Overall 5 of 11
Sector (Media) 3 of 6
Type (Add-on Acquisition) 4 of 8
State (Virginia) 1 of 1
Country (United States) 5 of 11
Year (2016) 1 of 1
Size (of disclosed) 2 of 7
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2015-02-02 Yashi

Toms River, New Jersey, United States

Yashi, Inc. is an online video demand side platform with location-focused technology.

Buy $33M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2017-01-17 USA TV MidAmerica

Atlanta, Georgia, United States

USA TV MidAmerica is a company focused on acquiring local broadcast television stations in attractive, mid-tier markets in the U.S. USA TV MidAmerica currently manages six stations that have entrenched market-leading positions in cities with attractive underlying economic fundamentals. Collectively, the USA TV MidAmerica stations reach nearly two million people daily.

Sell -
Mergr

Product

Company

Legal