IRVING, Texas—Nexstar has announced that it has completed the acquisition of a pair of Fox affiliate stations in Charlotte, N.C., a deal that was first reported last November. As part of the deal, Nexstar also announced that it divested two stations in Seattle and another in Milwaukee.

The Charlotte stations, Fox affiliate WJZY and MyNetworkTV affiliate WMYT, were acquired by Nexstar for $45 million each. Meanwhile, Seattle’s Fox affiliate KCPQ and MyNetwork affiliate KZJO, as well as Milwaukee’s Fox affiliate WITI were divested for $350 million. This gave Nexstar $240 million in net revenue from the deal, which it says it will use to reduce borrowings under its credit facilities and for general corporate purposes.

“Since completing the Tribune Media transaction we’ve evaluated opportunities to optimize our portfolio with the goals of positioning us in markets that are complementary to existing operations or markets where we believe we can generate greater upside and potentially freeing up some national cap ownership space,” said Perry Sook, president, CEO and group chairman for Nexstar Media.

According to Sook, these recent transactions reduced Nexstar’s household reach by 0.7%, which will allow them to pursue other transactions “that strengthen our local market platform and service to viewers and businesses.”

IRVING, Texas—A series of transactions have been announced between Nexstar and Fox that will flip ownership of multiple stations in Charlotte, N.C., Seattle and Milwaukee.

As part of these newly announced deals, Nexstar has purchased the Charlotte Fox affiliate WJZY and MyNetworkTV affiliate WMYT for $45 million. In turn, Nexstar is selling Seattle’s Fox and MyNetworkTV affiliates (KCPQ and KZJO, respectively) and Milwaukee’s Fox affiliate WITI for $350 million, subject to customary adjustments.

This follows a reported net loss for Nexstar in the third quarter due to associated costs from its acquisition of Tribune Media and other charges.

Nexstar CEO and President Perry Sook said that the addition of the Charlotte stations adds to the broadcaster’s Mid-Atlantic presence and helps free up 0.7% of its household reach, which will allow Nexstar to pursue other transactions to “strengthen our local market platform and service to viewers and businesses.”

The deal is still subject to FCC approval, but is expected to close in the first half of 2020.