Nexstar Media Group To Expand Presence In Cleveland With Acquisition Of WBNX-TV/TV55; Financial Terms Of The Transaction Were Not Disclosed
Portfolio Pulse from Benzinga Newsdesk
Nexstar Media Group is set to acquire WBNX-TV/TV55 in Cleveland, creating a duopoly in the 19th largest US TV market. The station will become a CW affiliate in 2025. Financial terms were not disclosed.
October 28, 2024 | 5:25 pm
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Nexstar Media Group is acquiring WBNX-TV/TV55, creating a duopoly in Cleveland's TV market. The station will become a CW affiliate in 2025, potentially boosting Nexstar's operating results.
The acquisition of WBNX-TV/TV55 will strengthen Nexstar's presence in a major TV market, potentially increasing its market share and advertising revenue. The conversion to a CW affiliate is expected to be accretive to Nexstar's operating results.
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