January 17, 2017

MSouth Closes the Acquisition of Five Television Stations

Atlanta, GA (January 17, 2017) – MSouth Equity Partners, an Atlanta-based private equity firm, in partnership with Heartland Media, LLC (“Heartland Media”), announced the closing of its purchase of five TV stations from Nexstar Broadcasting Group, Inc. and Media General, Inc.

Bob Prather, President and CEO of Heartland Media, said, “We are excited to begin operating these excellent stations.  We have met with the management teams over the past few months and anticipate investing further in their local news and sales operations.  These stations join one of the country’s fastest growing and highest quality TV station companies, focused on small and medium size markets.”

The five new stations will result in a total of ten stations owned and operated by MSouth and Heartland Media through various entities.  Barry Boniface, an MSouth Partner, said “We are excited to continue our relationship with Bob Prather and Heartland Media in the television broadcast industry.”  Mr. Prather previously announced an agreement to purchase an 11th station, WAAY, in Huntsville, Alabama, pending the end of the current FCC administered broadcast spectrum auction.

The stations joining MSouth and Heartland Media are:

  City of License DMA Rank Station Affiliation
1 Ft. Wayne, IN 111 WFFT-TV Fox
2 Rochester, MN 153 KIMT CBS
3 Terre Haute, IN 155 WTHI-TV CBS
4 Lafayette, IN 187 WLFI-TV CBS
5 St. Joseph, MO 201 KQTV ABC


MSouth Equity Partners is a private equity investment firm that provides equity capital and expertise to support management teams in acquisitions and recapitalizations of lower middle market companies typically valued between $25 and $150 million.  Based in Atlanta, Georgia, MSouth invests primarily in the South with a consistent focus on management buyouts of companies in sectors where the firm has significant investment, management and transactional experience. MSouth invests with the objective of increasing operating cash flow through growth initiatives and active ownership. A key element of MSouth's investment strategy is partnering with proven management teams to create value. Founded in 2007, MSouth manages $1.3 billion with three active funds.  MSouth is the successor to Cravey, Green & Wahlen, which was formed in 1984.