Heartland Media and MSouth Equity Partners Enter into an Agreement to Purchase Five Stations From Nexstar Broadcasting Group and Media General for $115,000,000

ATLANTA--()--Heartland Media, LLC (“Heartland”) and MSouth Equity Partners (“MSouth”) announced today that they have entered into an agreement to purchase five stations from Nexstar Broadcasting Group, Inc. (“Nexstar”) and Media General, Inc. (“Media General”) for $115,000,000 in cash following the acquisition of Media General by Nexstar. Heartland and MSouth formed a new company, USA Television MidAmerica Holdings, LLC (“USA MidAmerica”) for the purpose of purchasing the following stations:

      City of License     DMA Rank     Station     Affiliation     Owner
1     Ft. Wayne, IN     111     WFFT-TV     Fox     Nexstar
2     Rochester, MN     153     KIMT     CBS     Media General
3     Terre Haute, IN     155     WTHI-TV     CBS     Media General
4     Lafayette, IN     187     WLFI-TV     CBS     Media General
5     Saint Joseph, MO     201     KQTV     ABC     Nexstar

Bob Prather, President and CEO of Heartland, said, “We are excited at the opportunity to add these excellent stations to the group of stations already being managed under the Heartland umbrella. Both the stations and the communities they serve fit the markets we enjoy working in. With the experience and team of employees each station brings, we expect to build on the strong bases that have been established by Nexstar and Media General.” Prather went on to say, “My plan is to follow the same formula I began back when my partner and I bought control of Gray Television in 1993. That is, build a television group by acquiring Number 1 rated stations, Big Four affiliates with strong local news operations targeting university towns and state capitals that are deeply ingrained in the fabric of their communities.”

The purchase of WFFT-TV, KIMT, WTHI-TV, WLFI-TV and KQTV by USA MidAmerica is subject to FCC approval, other regulatory approvals, the closing of the Nexstar/ Media General transaction and other customary closing conditions and is expected to be completed on, or about the time of, the closing of the Nexstar/Media General transaction, which is expected later this year. The five new stations will result in a total of ten stations owned and operated by Heartland and MSouth through various entities.

Contacts

Heartland Media, LLC
Robert S. Prather, Jr., 470-355-1944
President and CEO
Cell: 404-583-9200
bob@heartlandtv.com

Contacts

Heartland Media, LLC
Robert S. Prather, Jr., 470-355-1944
President and CEO
Cell: 404-583-9200
bob@heartlandtv.com