Tegna is entering Iowa with the purchase of spinoffs from the Nexstar-Tribune merger in two markets: Tribune ABC affiliate WQAD/8 (Moline-Quad Cities), Nexstar ABC affiliate WOI-DT/5 (Ames-Des Moines), and Nexstar CW affiliate KCWI/23 (Ames-Des Moines).
The stations are part of a $740 million deal that includes 11 stations in eight markets nationally. Separately, Nexstar is selling eight stations in seven markets (none in the Upper Midwest) to Scripps for $580 million.
For Iowa, the move represents a splitup of Nexstar and Tribune’s current holdings: The new Nexstar will retain Tribune NBC affiliate WHO-DT/13 (Des Moines) and Nexstar’s CBS/FOX/CW operation in the Quad Cities, which includes Nexstar-owned WHBF/4 (Rock Island) and KGCW/26 (Burlington).
Tegna is known for competitive operations nationally and could bring a new level of competition to the two markets, battling with Nexstar’s stations in both markets along with Hearst CBS affiliate KCCI/8 (Des Moines) and Gray NBC affiliate KWQC/6 (Davenport).
Tegna’s press release quotes CEO Dave Lougee as calling the stations “an excellent strategic and financial fit” ahead of the 2020 presidential election. Tegna does not have any other stations in Iowa, but does own NBC affiliates KARE/11 (Minneapolis) and KSDK/5 (St. Louis).
Nationally, Nexstar is keeping Tribune’s WGN-TV (Chicago) and KTLA (Los Angeles), but is selling WPIX (New York) to Scripps.