Nexstar Broadcasting, Inc. entered into a definitive agreement to acquire the assets of Ksee Television, Inc. from Granite Broadcasting Corporation for $26.5 million.

Nexstar Broadcasting, Inc. entered into a definitive agreement to acquire the assets of Ksee Television, Inc. from Granite Broadcasting Corporation for $26.5 million on February 6, 2013. Under the terms of the agreement, Nexstar acquired all of Ksee Television's non-FCC license assets for $20 million and will file a license transfer application. Upon FCC approval of the license transfer, Nexstar will pay Granite the remaining $6.5 million of the total purchase price.

Nexstar intends to finance the transaction with existing cash on hand. Nexstar has also entered into a time brokerage agreement with Granite Broadcasting whereby it will operate Ksee Television immediately. The transaction is subject to FCC approval and other customary approvals.

On April 17, 2013, FCC approved the transaction. The deal is expected to close in mid of 2013. The transaction is expected to be immediately accretive to Nexstar.

Joseph Jaffoni of JCIR acted as public relations advisor for Nexstar.