Nexstar, Mission Broadcasting to Acquire Six Television Stations for $37.5M

Nexstar Broadcasting Group

announced today that it and Mission Broadcasting have entered into definitive agreements to acquire six television stations in two markets for $37.5 million, in transactions that are expected to be immediately accretive upon closing. The stations are being acquired from Gray Television Group, Inc.

(“Gray”) and Excalibur Broadcasting, LLC (“Excalibur”) and represent the equity interests of certain subsidiaries of Hoak Media, LLC ("Hoak"), and Parker Broadcasting, Inc. ("Parker") which Gray and Excalibur previously agreed to purchase from Hoak and Parker, respectively.