Press Release

Kirkland Represents Nexstar Media Group on Purchase and Sale Transactions with Fox Television Stations

Kirkland & Ellis advised Nexstar Media Group, Inc. (Nasdaq: NXST), a leading diversified media company, on its purchase and sale agreements with Fox Television Stations, LLC, a subsidiary of Fox Corporation (Nasdaq: FOXA, FOX), whereby Nexstar will purchase from Fox, the Charlotte Fox Affiliate WJZY and MyNetworkTV Affiliate WMYT for approximately $45 million in cash, and will divest to Fox the Seattle Fox Affiliate KCPQ and MyNetworkTV Affiliate KZJO and the Milwaukee Fox Affiliate WITI for approximately $350 million in cash. The transaction is subject to customary approvals and is expected to close in the first half of calendar year 2020.

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The Kirkland team was led by transactional partners Ravi Agarwal and Armand Della Monica and associates Laura Umbrecht, Gisella de la Rocha and Laylee Ghiasi; tax partner Vin Thorn; employee benefits partner Melissa Grim; executive compensation partner Michael Krasnovsky; and labor and employment partner Richard Kidd.