Media Giant Acquiring KUSI News in San Diego for $35M

Nexstar Media Group, Inc., a leading American media conglomerate, has recently announced its acquisition of San Diego’s KUSI-TV for $35 million. The deal involves the assets of KUSI being purchased from McKinnon Broadcasting Company and Channel 51 of San Diego, along with a working capital adjustment. KUSI-TV is an independent television station, known for its Conservative-leaning programming that offers more than 9 hours of local news each weekday, and almost 60 hours of local news every week. This acquisition expands Nexstar’s existing San Diego operations, which include the currently owned and operated FOX KWSB-TV in San Diego. Together, these stations will continue to offer the most extensive local news in the nation’s 30th-largest television market.

The purchase of KUSI will be of significant benefit to Nexstar, as it seeks to continue its commitment to providing consumers expansive local content on linear and digital platforms. It is expected that KUSI will become an affiliate of The CW, which is also owned by Nexstar. Currently, The CW is carried by KFMB, a CBS affiliate of Tegna, which carries the programming on a digital subchannel.

Tom Carter, Nexstar’s President and Chief Operating Officer, expressed excitement at the acquisition, saying “KUSI-TV’s established local news operations serving viewers and advertisers across the San Diego community is a perfect fit with our station group and existing San Diego operations at KSWB-TV. Their mission of serving the community by delivering the most local news in the market is consistent with Nexstar’s commitment to providing consumers expansive local content on linear and digital platforms.”

Nexstar is a well-known media company that produces and distributes local and national news, sports, and entertainment content across television, streaming, and digital platforms. With nearly 300,000 hours of original video content each year, Nexstar owns America’s largest local broadcasting group comprised of top network affiliates. The company’s portfolio of digital assets, including The Hill and BestReviews, collectively ranks as a Top 10 U.S. digital news and information property.

Mike McKinnon, CEO of KUSI-TV, expressed his admiration for Perry Sook, Nexstar’s Chairman and CEO, saying “He is a great broadcaster who has built a tremendous organization. We have a great team of news people at KUSI-TV, and joining these two companies will create one of the most dynamic news organizations in all of Southern California.” Kalil & Co. Inc. was the exclusive broker for McKinnon Broadcasting Company and KUSI-TV, managing the acquisition from start to finish.

The acquisition of KUSI is a major move for Nexstar, the impact of which is felt across Southern California and the wider media landscape. With its unparalleled reputation, Nexstar is well-positioned to sustain its growth trajectory while providing high-quality local content across its various platforms.

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