Texas-based Nexstar Media Group, which already owns Fox5 in San Diego, announced Monday it will acquire KUSI-TV for $35 million.
Nexstar will purchase the independent station from McKinnon Broadcasting Co.
"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 (Fox5)," Tom Carter, Nexstar's president and chief operating officer, said in a statement."
The acquisition is still subject to regulatory approvals, but Nexstar officials said the deal should close later this year. The move could open the door for KUSI to become an affiliate of The CW Network, which is also owned by Nexstar.
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"I have known Perry Sook, Nexstar's chairman and chief executive officer, for more than 30 years," current KUSI owner Mike McKinnon said in a statement. "He is a great broadcaster who has built a tremendous organization. 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."
Per the FCC, "An entity is permitted to own up to two television stations in the same Designated Market Area (DMA) if either:
- The service areas – known as the digital noise limited service contour – of the stations do not overlap; or
- At least one of the stations is not ranked among the top-four rated stations in the DMA based on audience share. However, an applicant may seek to make a showing, based on the particular facts and circumstances, that a top-four combination would nonetheless serve the public interest despite the prohibition."
