Nexstar Media, a US local TV giant, has bought political news website the Hill for $130m.
The Hill attracted an average 48m monthly users and 2.2bn page views in 2020, according to Comscore. Led by chairman Jimmy Finkelstein, the website employs more than 100 journalists. According to Axios’ sources, the Hill generated revenues of $40m last year and made a profit of $10m.
Prior to the Nexstar deal, HRS Management was the Hill’s largest investor.
Axios previously reported on talks between Nexstar and the Hill (see below on this page).
Related
Source: Press release
Deal size: $130m
Country: US
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Status: Official
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