Market Overview

Nexstar Announces Completion of Acquisition of Two Television Stations by Mission Broadcasting for $60M in Cash

Nexstar Broadcasting Group (NASDAQ: NXST) announced today that
Mission Broadcasting, Inc. (“Mission”), completed the previously
announced acquisition of two television stations in Little Rock, AR from
entities controlled by privately-held Newport Television, LLC
(“Newport”) for $60 million. Simultaneous with the closing of the
transaction, Nexstar entered into an Outsourcing Agreement with Mission
to provide services to the two stations, KLRT and KASN, the FOX and CW
affiliated stations, respectively, in Little Rock.

Perry A. Sook, Chairman, President and Chief Executive Officer of
Nexstar Broadcasting Group, Inc., commented, “This transaction is
consistent with our core strategy to expand our operations and pursue
financial and operating synergies to enhance free cash flow. We look

See full press release

Posted-In: News Guidance Asset Sales Management M&A

 

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