Nexstar said it agreed to acquire BestReviews from Tribune Publishing Co. for $160 million.
Nextstar last year bought Tribune Media’s TV stations.
BestReviews provides consumers with information about products and services and draws a monthly audience of 9 million visitors.
“The planned accretive acquisition of BestReviews diversifies our digital content portfolio while presenting the company with new and significant revenue channels by leveraging our media content, national reach and significant consumer digital usage across multiple platforms,” said Tom Carter, COO and CFO at Nexstar.
“We are acquiring a fast-growing digital product review company with a profitable and scalable business model at an attractive pro forma EBITDA multiple,” Carter said.
Acquiring BestReviews reflects a broader content monetization strategy at Nexstar.
“BestReviews also provides unique consumer insights to drive higher-margin advertising revenues for local and national advertisers across Nexstar’s digital assets,” said Karen Brophy, president of digital at Nexstar. “Nexstar is committed to developing and executing the company’s strategic local content and viewer engagement initiatives while developing new marketing solutions for advertisers.”
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