Nexstar Buys The Hill Newspaper for $130 Million

From a Wall Street Journal story by Stephen Nakrosis headlined “Nexstar Acquires The Hill in $130 Million Deal”:

Nexstar Media Group said it acquired political-news organization The Hill for $130 million.

Nexstar said the acquisition is expected to immediately boost its operating results and is a continuation of its content-first strategy.

Nexstar Media Group’s other holdings include 199 television stations, 120 local websites and NewsNation, formerly WGN America, a national news and entertainment cable network reaching 75 million television homes. It also owns a 31.3% ownership stake in TV Food Network.

James Finkelstein, owner of The Hill, said “it is time for me to move on to new ventures.”…

Nexstar said The Hill has 48 million average monthly users and had 2.2 billion total pageviews in 2020.

“Together with Nexstar, the combined digital network offers an extremely valuable, brand-safe environment for issue and other advertisers to reach a growing digital audience of informed, intent-oriented consumers,” said Karen Brophy, Nexstar Media Inc.’s president for digital.

Here’s the masthead for The Hill newspaper. Its editor is Bob Cusack, managing editor is Ian Swanson.

Also see the New York Times story by Ben Smith and Katie Robertson headlined “The Hill Is Sold to a TV Giant”

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