Graham Media Group to Buy WCWJ, CW affiliate in Jacksonville, NBC Affiliate in Roanoke

Graham Media Group, Inc., a Graham Holdings Company

subsidiary, said that it struck a deal with Nexstar Broadcasting Group, Inc. and Media General, Inc. to purchase WCWJ, a CW affiliate television station in Jacksonville, FL and WSLS, an NBC affiliate television station in Roanoke, VA for $60 million in cash and the assumption of certain liabilities. The agreement to acquire Nextar Broadcasting included pension obligations. Graham Media Group, Inc. would continue to operate both stations under their current network affiliations. Graham Media said that the acquisition is subject to approval by the FCC, other regulatory approvals, and the satisfaction of closing conditions. Shares of the company traded 0.29 percent higher on Friday.