NextMedia Group has agreed to sell eight FMs – four in Reno, Nev., and four in Lubbock, Texas – to Wilks Broadcast Group for $34 million. Parties expect the deal to close in Q4, pending FCC approval.
The Lubbock stations are KMMX, KLLL, KONE and KBTE. The Reno stations are KJZS, KRZQ, KURK and KTHX.
NextMedia President/CEO Steve Dinetz said the sale allows the group to focus more on its out-of-home media clusters and strengthen the balance sheet.
NextMedia has 57 stations and 5,600 bulletin and poster displays.
Michael Bergner of Bergner & Company brokered the transaction.
NextMedia to Sell 8 FMs to Wilks for $34 Million
NextMedia to Sell 8 FMs to Wilks for $34 Million
