Nexstar buying four West Virginia stations for $130M

• Nexstar Broadcasting (NXST +1.9%) is acquiring four stations in West Virginia markets for $130M.
• The deal with West Virginia Media Holdings will transfer three CBS affiliates and one NBC affiliate. The stations serve Charleston/Huntington, Wheeling, Bluefield/Beckley and Clarksburg/Weston in West Virginia, as well as West Virginia/Steubenville, Ohio.
• It will leave Nexstar with 115 stations serving 62 markets across a 25-state footprint.
• The deal's expected to close in December while license assets won't transfer until late 2016; the companies are executing a time brokerage agreement to transfer broadcast flows in the meantime.
• In September, Nexstar had set a deal to acquire four stations in North Dakota for $44M.