Nexstar Broadcasting Closes Deal for 10 TV Stations, Inergize Digital e-Media Operations
Nexstar Broadcasting Group (NASDAQ: NXST) closes acquisition of ten television stations and two associated digital sub-channels in seven markets as well as the Inergize Digital e-Media operations from entities controlled by privately-held Newport Television, LLC (“Newport”) for $225.5 million in a transaction that is expected to be immediately accretive to Nexstar. Nexstar financed the acquisition through borrowings under its new senior secured credit facilities, which were consummated concurrent with the closing of the acquisition.
© 2014 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.