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November 26, 2012
17:22 EDTNXSTNexstar Broadcasting declares new dividend policy of 12c per share
Nexstar Broadcasting Group announced a new dividend policy pursuant to which our board of directors has authorized us to declare a total annual cash dividend with respect to its shares of common stock of 48c per share in equal quarterly installments of 12c per share, concurrent with the closing of the acquisition of the assets being acquired by Nexstar Broadcasting as part of the Newport Acquisition. The first quarterly cash dividend is expected to be paid, subject to declaration by the board of directors, in 1Q13.
News For NXST From The Last 14 Days
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November 26, 2014
13:28 EDTNXSTNexstar required by DOJ to make divestiture to proceed with CCA acquisition
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12:53 EDTNXSTNexstar price target raised to $55-57 from $50-55 at Wells Fargo
Wells Fargo increased its price target on Nexstar to reflect the company's agreement to acquire CBS affiliate KLAS-TV in the Las Vegas market The firm thinks the acquisition will be accretive, and it raised its estimates while keeping an Outperform rating on the shares.
November 21, 2014
07:01 EDTNXSTNexstar to acquire Las Vegas CBS affiliate KLAS-TV for $145M
Nexstar Broadcasting Group (NXST) announced that it has entered into a definitive agreement to acquire the equity interests and assets of KLAS-TV, the CBS (CBS) affiliate serving the Las Vegas, Nevada market for $145M plus working capital from Landmark Media Enterprises, LLC. The proposed acquisition is expected to be immediately accretive to Nexstarís operating results immediately upon closing and inclusive of all other previously announced transactions, will expand the Companyís portfolio to 110 television stations serving 58 markets in 23 states, reaching approximately 20.3 million television households or 18% of U.S. television households. Nexstar intends to finance the station acquisition with cash generated from operations and borrowings under its senior credit facilities and/or additional capital markets activities. The transaction is subject to FCC approval and other customary approvals, and is expected to close in the first half of 2015. the acquisition, on a pro-forma basis, is expected to add an average of approximately 40c per share of free cash flow per year to Nexstarís operating results over the 2015/2016 period.

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