Nexstar Media said it acquired the political media publication The Hill for about $130 million.
The company said The Hill will complement its local and national news operations and beef up its digital presence.
The Hill averages 48 million monthly users and had 2.2 billion total pageviews in 2020, according to Nexstar, citing Comscore figures.
"The accretive acquisition of The Hill's independent, political digital media platform marks continued progress with Nexstar's 'content-first strategy' and reflects our organization-wide commitment to deliver trusted, unbiased, fact-based journalism that engages and informs our audiences across all screens and devices," said Nexstar president and COO Tom Carter.
"The Hill acquisition presents the company with a fast-growing and profitable political digital news platform. Jimmy Finkelstein, owner and chairman of The Hill, has done a truly excellent job in creating a national brand with strong profitability," Carter said.
Last year Nexstar bought BestReviews, a digital product review site. The company said it will continue to make strategic, accretive digital investments to scale its digital offerings.
Nexstar owns or manages 199 television stations in 116 markets. It also owns NewsNation, the cable network formerly known as WGN America.
Jon has been business editor of Broadcasting + Cable since 2010. He focuses on revenue-generating activities, including advertising and distribution, as well as executive intrigue and merger and acquisition activity. Just about any story is fair game, if a dollar sign can make its way into the article. Before B+C, Jon covered the industry for TVWeek, Cable World, Electronic Media, Advertising Age and The New York Post. A native New Yorker, Jon is hiding in plain sight in the suburbs of Chicago.
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