Nexstar Media Group has arranged to buy two TV stations WJZY and WMYT both of which are located in Charlotte, North Carolina from Fox TV, a subsidiary of Fox Corporation for around $45m.
In the same week, Fox TV is to purchase KCPQ, KZJO and WITI from Nexstar for a consideration of approximately $350m; these channels are based in Seattle and Milwaukee.
Nexstar is a large local TV operator in the US with a presence in 100 local markets reaching over one third of the population. Fox TV owns stations in major urban areas including NY, LA and Chicago. Both deals are to be paid in cash.
