Newport Television To Collect $1B Selling 22 Stations To Nexstar, Sinclair, And Cox

Newport is Providence Equity’s holding company for the collection of TV stations the private equity firm bought in 2007 from Clear Channel. Investors seem to like Nexstar’s $285.5M agreement today for 12 Newport stations; Nexstar shares are +5.2% at mid-day. Sinclair is more complicated: In addition to the $412.5M it’s paying for six Newport stations, Sinclair agreed today to pay $40M for Tampa-based Bay Television. Sinclair shares are -1.6%. Privately held Cox is paying $302M for its four stations.

Here’s the release: (more…)

This article was printed from https://deadline.com/2012/07/newport-television-to-collect-1b-selling-22-stations-to-nexstar-sinclair-and-cox-303455/