dma 104 (Evansville, IN)

Nexstar Selling WEVV For $18.6 Million

The CBS affiliate in Evansville, Ind., is being purchased by minority-led Bayou City Broadcasting Evansville. The sale brings Nexstar’s Communications Corp. of America station purchases into compliance with DOJ criteria.
By
TVNewsCheck,

Nexstar Broadcasting Group said Monday afternoon that it has entered into a definitive agreement with Bayou City Broadcasting Evansville Inc. (BCBE) for the sale of WEVV, the CBS affiliate in Evansville, Ind. (DMA 104), $18.6 million.

BCBE is a minority-led broadcaster owned by affiliates of Sankaty Advisors LLC, Alta Communications and Bayou City Broadcasting LLC. Bayou City Broadcasting is owned by DuJuan McCoy, who will serve as BCBE’s president-CEO.

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Perry A. Sook, chairman, president-CEO of Nexstar, said: “The proposed transaction announced today highlights our focus on completing pending transactions and represents the second time in the last two months that Nexstar has structured an agreement that furthers the FCC’s goal of increasing minority television ownership diversity.”

Nexstar said the sale of WEVV to BCB brings its pending purchase of Communications Corp. of America into compliance with Department of Justice requirements for approval and "will release the pending transaction from hold pending divestiture."

McCoy founded BCB in December 2007 and in January 2008 agreed to purchase seven television stations located in Abilene and San Angelo, Texas. With this purchase, McCoy and BCB became the only African-American company to own and/or operate a Fox Affiliate in the United States and the first African American to own and operate a network affiliated station in Texas.

Wells Fargo Senior Analyst Marci Ryvicker liked the deal: “Given the FCC's mandate to promote diversity in the market place, we are not surprised to see more collaboration between [Nexstar] and minority-led broadcasters in order to get deals through. We are encouraged to see that [Nexstar]'s largest pending deal is close to being approved and view this restructuring as a positive.”

Brand Connections

Last month Nexstar announced plans to sell three full-power, Fox affiliates in Shreveport, La.; Odessa-Midland, Texas; and Quad Cities, Iowa, to Marshall Broadcasting Group a newly formed minority-owned media entity owned by Pluria Marshall Jr.

“Nexstar is taking an industry leading role in significantly expanding the diversity of media ownership assets among minority operators and addressing recent proposed FCC regulation changes,” said McCoy. “I am delighted we have been able to structure an agreement for BCBE’s purchase of the Evansville CBS affiliate and would welcome other opportunities to work further with Nexstar or other broadcasters who are committed to supporting minority broadcasters as FCC licensees and owners and operators of television stations.”

Nexstar’s recently announced station divestitures are subject to FCC approval, the consummation of Nexstar’s previously announced agreements to acquire the stock of privately-held Communications Corp. of America and other customary closing conditions, and Nexstar said it expects to complete all announced pending transactions in 2014.

Kalil & Co. acted as the exclusive broker for the seller in this transaction.

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Ratings

Overnights, adults 18-49 for September 25, 2016
  • 1.
    5.5/18
  • 2.
    2.6/8
  • 3.
    1.2/4
  • 4.
    0.9/3
  • 5.
    0.5/2
  • 6.
    0.2/1
Source: Nielsen

Reviews

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  • Maureen Ryan

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  • Kevin Fallon

    In a fall TV season that’s already making a splash for championing diverse, distinctive voices in an array of projects that they created, wrote, and starred in, Better Things on FX stands out. The show is created by, written by, and starsPamela Adlon. She plays Sam Fox, the single mother of three daughters modeled after her own reality-show-ready experience raising three girls in Los Angeles following a divorce. Sam is also, like Adlon, a working actress — on shows both raunchy, a la Californication, and animated for children, like her role on Recess. It’s a refreshingly blunt take on single motherhood without sacrificing the warmth of parental love, portraying the dance between selfishness and selflessness that’s at the heart of being a parent — especially one weathering the hormonal fireworks of a household of four women at different ages.

  • David Wiegand

    The fall TV season doesn’t count as much as it used to — we already know that. But no matter how many retreads the broadcast networks throw at viewers in the next few months, this fall will be memorable because of the premiere of Atlanta on Tuesday, Sept. 6, on FX. The half-hour comedy created by and starring Donald Glover (Community), simply and brilliantly recalibrates our expectations of what a TV comedy is and how black lives are portrayed on the medium.

  • Louisa Ada Seltzer

    The second reboot of the 1980s John Candy movie Uncle Buck, bumped by ABC from midseason, has the same tired jokes you'll find on any second-rate sitcom. Too bad, because Mike Epps is appealing and ABC would be wise to keep him around for future shows, but there’s just not enough to this show to suggest it will last past summer. It also airs against NBC’s America’s Got Talent, summer’s No. 1 program on broadcast, which may make it even harder to find an audience.

  • Neil Genzlinger

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