Texas company reaches deal to acquire KLAS-TV, Channel 8

KLAS-TV, Channel 8, could soon change hands.

Texas-based Nexstar Broadcasting Group Inc. has announced it had reached a deal to acquire Las Vegas’ CBS affiliate from Virginia-based Landmark Media Enterprises LLC.

Nexstar will pay $145 million plus “working capital” to buy the station.

That deal, which still requires Federal Communications Commission approval, is expected to close in 2015.

The announcement Friday comes just two months after Sinclair Broadcast Group Inc. picked up KSNV-TV, Channel 3, for $120 million. Longtime KSNV-TV owner Jim Rogers died in June.

Landmark, Channel 8’s current owner, did not return requests for comment.

The company has been trying to sell all of its media properties.

Nexstar spokeswoman Jennifer Neuman said KLAS is the last TV station in Landmark’s portfolio.

Neuman declined to comment on how her company settled on a $145 million purchase price for that station. She couldn’t rule out the possibility that it had something to with lucrative campaign ad sales.

“I can’t give you the exact details of the deal,” Neuman said. “I can tell you that typically we’ll look at (station) performance on a trailing 12-month basis. “I would guess (political ad) revenues would contribute to that.”

In a statement, Nexstar CEO Perry Sook said his company planned to “build on KLAS’ rich tradition of local programming and local community involvement,” adding that the station should be well-positioned to capitalize on a wave of political campaign ad spending expected in 2016.

KLAS’ acquisition increases Nexstar’s portfolio to 110 television stations serving 58 markets in 23 states. Those stations reach approximately 20.3 million television households, the company said.

Contact James DeHaven at jdehaven@reviewjournal.com or 702-477-3839. Find him on Twitter:@JamesDeHaven.