Nexstar Broadcasting Enters into Definitive Agreement to Acquire Evansville ABC Affiliate WEHT-TV for $18.5 Million in Accretive Transaction

Nexstar Broadcasting Group, Inc. NXST announced today that it entered into a definitive agreement to acquire the assets of WEHT-TV, the ABC affiliate serving the Evansville, Indiana market from Gilmore Broadcasting Corporation for $18.5 million plus any working capital adjustments applicable at the time of closing. Nexstar also announced that it entered into a definitive agreement to divest the FCC license related assets of WTVW-TV to Mission Broadcasting, Inc. (“Mission”) for $6.7 million. Nexstar will enter into a local services agreement with Mission to provide sales and other services to WTVW upon consummation of the transaction. The proposed transactions are expected to be accretive to Nexstar's operating results immediately upon closing and will result in Nexstar operating one station and providing sales and other services to another in 22 of the 36 markets where it operates. In addition, it will expand to 66 the number of stations and related digital signals that Nexstar either owns or provides sales and other services to, including 11 ABC affiliates at the time of closing.