Nexstar enters agreements with Marshall Broadcasting Nexstar Broadcasting announced that it entered into definitive agreements with Marshall Broadcasting for the sale of three network affiliated stations three markets for $58.5M. MBG intends to fund the station acquisitions through borrowings which Nexstar has agreed to guarantee. The transactions are subject to Federal Communications Commission approval, the consummation of Nexstarís previously announced agreements to acquire the stock of privately-held Communications Corporation of America and White Knight Broadcasting and the stock of Grant and other customary closing conditions, and are expected to be completed in FY14. Subject to regulatory approval, MBG intends to assume the obligations of Mission Broadcasting as the acquirer of the Stations under various asset purchase agreements currently in effect between Nexstar and Mission. Under the terms of the proposed services agreements between Nexstar and MBG, MBG will be entitled to 70% of the revenue from advertising sold by Nexstar on the stations and will not provide for any bonus payments to Nexstar for achieving revenue goals.
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