NY Station Sold Back to Nexstar's Control
When Nexstar bought the Tribune station’s they could not bring New York’s WPIX into the fold, because it would have put the company over the FCC ownership cap when it came to viewer reach.
So, Nexstar handed the station off to Scripps with the agreement that they could buy the station back before the end of 2021 at the exact same price they sold it to Scripps.
Now, Nexstar has handed those buyback rights over to Mission Broadcasting which is basically run by Nexstar.
All of the Mission Broadcasting stations are located in markets that Nexstar also owns a station and the Mission stations are run by Nexstar.
So, if you are getting a bit of a strange order off of this deal to sell WPIX to Mission Broadcasting, I can assure you, you’re not the only one.
Just saying….