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

Nexstar Broadcasting Group

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