With $4.6 billion deal complete, 3 Austin TV stations get new owner

kxanA year after it was first announced, Irving-based Nexstar Broadcasting Group Inc. said Tuesday that it has completed its acquisition of fellow broadcaster Media General Inc.

Richmond, Va.-based Media General operates three Austin TV stations: NBC affiliate KXAN, CW affiliate KNVA and MyNetworkTV affiliate KBVO.

The $4.6 billion deal makes Nexstar the second-largest broadcaster in the nation, the company said, with 171 TV stations in 100 TV markets. Its holdings reach 39 percent of the United States – twice its pre-merger reach.

In Texas, KXAN, KNVA and KBVO join existing Nexstar stations in Abilene, Amarillo, Brownsville, El Paso, Lubbock, Midland, San Angelo, Tyler and Wichita Falls.

Already, Nexstar has established a Capitol news bureau based out of the KXAN studios near the University of Texas campus.

“Our acquisition of Media General marks a significant milestone in Nexstar’s 20-year history of growth, which has been predicated on our unwavering commitment to deliver exceptional service to the local communities where we operate and value to our shareholders,” Nexstar chairman, president and CEO Perry Sook said in a written statement.

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