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Stock Market & Financial Investment News

News Breaks
January 3, 2013
17:41 EDTNXSTNexstar completes acquisition of two television stations for $60M cash
Nexstar Broadcasting Group announced today that Mission Broadcasting, completed the previously announced acquisition of two television stations in Little Rock, AR from entities controlled by privately-held Newport Television for $60M. 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 CEO of Nexstar Broadcasting Group commented, "Nexstar's 2012 initiatives including the significantly accretive Newport transaction; announced agreements to acquire stations in California and Vermont, which will close later this quarter; ongoing capital structure optimization; plan to initiate an annual cash dividend of 48c per share starting this quarter; and, record annual financial results and free cash flow position us well for 2013 and beyond."
News For NXST From The Last 14 Days
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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.
November 14, 2014
07:37 EDTNXSTLocal media ad market looks positive, says Wells Fargo
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November 13, 2014
14:30 EDTNXSTRoystone Capital reports 6.03% passive stake in Nexstar
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