(It is amazing it is such a sell out in so many ways, wonder if they will still be able to keep their box seats at the Packer’s game?):
FromÂ WIKIPEDIA:Â On January 27, 2016, Media General announced that it had entered into a definitive agreement to be acquired by Nexstar in a deal valued at $17.14 per-share, valuing the company at $4.6 billion plus the assumption of $2.3 billion debt. The combined company will be known asÂ Nexstar Media Group, and own 171 stations, serving an estimated 39% of U.S. households. The company will payÂ Meredith CorporationÂ (whom Media General had previously proposed a merger with) a termination fee of $60 million, and give Meredith right of first refusal to acquire any broadcast or digital properties that may be divested during the purchase. The deal also includesÂ contingent value rightsÂ for Media General shareholders if it sells spectrum from its stations during the FCC’s spectrum incentive auction.
Â Sale toÂ Nexstar
On January 27, 2016,Â Nexstar Broadcasting GroupÂ announced that it had reached an agreement to acquire Media General, including KELO. This deal will bring KELO-TV under common ownership with ABC affiliateÂ KCAU-TVÂ inÂ Sioux City, Iowa.
With the affiliation with KCAU we will get the regional bowling competitions live on air again? You have to be old to remember these exciting broadcasts withÂ Gene Sherman (KCAU) and Dave Dedrick (KELO) cohosting “The Big Bowl” from Sioux City, Iowa.
Gene Sherman was an excitable guy who was the sports guy for years and gave school kids the guided tours. He showed the behind the scenes cool stuff.