Texas-based Nexstar Media Group, which already owns FOX 5 in San Diego, announced Monday it will acquire KUSI-TV from McKinnon Broadcasting for $35 million.
“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,” said Tom Carter, Nexstar’s president and chief operating officer.
The independent television station, which debuted in 1982, broadcasts more than nine hours of local news each weekday.
“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,” said Carter.
Mike McKinnon, owner and CEO of KUSI, described Nexstar as “a tremendous organization” that is a good fit for KUSI.
“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,” he said.
Nexstar, a publicly held company, said the acquisition would add value when KUSI can become an affiliate of The CW Network, which Nexstar owns.
The transaction, which is subject to regulatory and other approvals, is expected to close later this year.
Nexstar is America’s largest local broadcasting group with 200 owned or partner stations in 116 markets reaching 212 million people.