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Stock Market & Financial Investment News

News Breaks
June 6, 2014
11:02 EDTNXSTNexstar 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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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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