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News Breaks
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January 4, 2012
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| 15:56 EDT |  | NXST, SBGI |
| theflyonthewall.com: | Nexstar Broadcasting to receive $6.7M in fees from sale of Four Points Media | | Nexstar Broadcasting Group (NXST) announced that it has received a payment of $6.7M comprised of management and incentive fees earned for 2011 as well as a termination payment, related to the sale of Four Points Media Group by an affiliate of Cerberus Capital Management, to Sinclair Broadcast Group. (SBGI). Approximately $4.7M of the payment will be recognized in Nexstar's fourth quarter ended December 31, 2011 and the balance of approximately $2M will be recognized in the first quarter of 2012. Nexstar will use the payment made by Cerberus under the management services agreement for debt reduction and general corporate purposes. The management services agreement with Four Points terminated effective with the closing of the sale of its stations to Sinclair on January 3. :theflyonthewall.com |
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May 15, 2012
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| 08:49 EDT | | SBGI |
| theflyonthewall.com: | Sinclair Broadcast enters into long-term affiliation agreement with Fox | | Sinclair Broadcast Group announced that it has entered into an agreement with the Fox Broadcasting Company for the renewal of the affiliation agreements for 19 television stations Sinclair owns and/or programs. The new agreements go into effect January 1, 2013 upon the expiration of the existing affiliation agreements and expire December 31, 2017. KFXA-TV, the FOX affiliate in Cedar Rapids, to which Sinclair provides certain non-programming related services, is also renewing its affiliation agreement for the same term. :theflyonthewall.com |
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