Thursday, July 21, 2011

Nexstar for Sale?.......

Check out this press release from KARK's and KTAL's Parent Company:

Irving, TX (July 21, 2011) - Nexstar Broadcasting Group, Inc. (NASDAQ: NXST) announced today that its Board of Directors has decided to explore and evaluate strategic alternatives intended to maximize shareholder value, including a possible sale of the Company. The Company has retained Moelis & Company as its financial advisor and Kirkland & Ellis LLP as its legal counsel.

The Company has not made a decision to pursue any specific strategic transaction or other strategic alternative and there is no set timetable for the process, so there can be no assurance that the exploration of strategic alternatives will result in a sale of the Company or any other transaction. The Company does not intend to disclose developments with respect to the progress of its strategic review until such time as the Board has approved a transaction or otherwise deems disclosure appropriate.

50 Comments:

At 12:50 PM, July 21, 2011, Anonymous Anonymous said...

SELL NOW QUICKLY!!! SELL! SELL!

 
At 4:02 PM, July 21, 2011, Anonymous Anonymous said...

Well, well, well. I thought I would never see this day. No matter who buys Nexstar, they will be a much better company to work for then the current company.

 
At 4:20 PM, July 21, 2011, Anonymous Anonymous said...

So true.

 
At 4:26 PM, July 21, 2011, Anonymous Anonymous said...

That's the best news I've heard in months, but I'm still freshening up my resume and getting as far away from Nexstar just as fast as I can.

 
At 7:03 AM, July 22, 2011, Anonymous Anonymous said...

Uncle Perry has tried this before,

It drives up the price of his stock.
But his cash flow to debt ratio is so high, I don't believe there will be any takers,given the asking price.

But there is one born every day.

 
At 10:32 AM, July 22, 2011, Anonymous Anonymous said...

That's right, I forgot about that. Plus the fact there are not that many companys willing or able to buy Nexstar as a whole, that don't already have stations in those markets. Yeah, the more I think about it the more this sounds like another bluff.

 
At 9:41 PM, July 22, 2011, Anonymous Anonymous said...

Even Nexstar is getting out. What does that tell you?

 
At 11:14 PM, July 22, 2011, Anonymous Anonymous said...

Perry Sook is only looking out for the money. They bought properties, leveraged themselves to the hilt and are looking to cash-out soon. Duh... anybody not see this coming? They bought properties so fast...it's like come on...what else would they be doing?

 
At 4:28 AM, July 23, 2011, Anonymous Anonymous said...

I wonder if this has something to do with Nexstar's ongoing problems with the Fox network? Nexstar is having problems with Fox over one of their stations in Indiana, and a deal to buy the Fox station down in Shreveport fell though because of Fox.

 
At 7:40 AM, July 23, 2011, Anonymous Anonymous said...

This explains some of the conversations I've over heard the past several weeks. For years I've wondered where the company's been getting all this money to buy every station they can get their hands on. Other then a few minor things here at the station Nexstar really hasn't spent much money on improvements or upgrades. From what I've heard they do this at all of their other stations. I've known about the Fox issue in Indiana for a while, but I didn't know about the Fox issue in Shreveport. WIth the information in some of the previous comments it looks like this sale may actually happen.

 
At 7:05 PM, July 23, 2011, Anonymous Anonymous said...

We can only hope, but I'm not sticking around to find out.

 
At 7:29 AM, July 24, 2011, Anonymous Anonymous said...

I'm with you on that. Maybe we can get consolidated to Little Rock like master control did.

 
At 2:41 PM, July 25, 2011, Anonymous Anonymous said...

I wouldn't wait around for that. Better get out now.

 
At 8:41 AM, July 26, 2011, Anonymous Anonymous said...

Just think of the company that buys them....Do they add back AP? Do they add back Nielson/

 
At 10:26 AM, July 26, 2011, Anonymous Miss Communication said...

Of course they will. And they may get rid of the hub system Nexstar's creating.

 
At 10:56 AM, July 26, 2011, Anonymous Anonymous said...

It will probably not be sold as a whole, but broken up.
The entire company would cost too much, and many companies will already have station(s)in those markets.

 
At 12:57 PM, July 26, 2011, Anonymous Miss Communication said...

Exactly, plus any company will be better to work for then what we have now.

 
At 4:44 PM, July 26, 2011, Anonymous Anonymous said...

I don't understand why you don't just leave. It's interesting to go back and look at old stories on here. Every station ownership has been beaten down by several people. I'm thinking that instead of going across the street to work, maybe you should just go into a different field.

 
At 6:07 PM, July 26, 2011, Anonymous Anonymous said...

Whenever a station, or any business gets sold, the new owners eventually start slashing the budget.
They spend a lot of money, and are determined to recoup their losses any way they can.
They also like to get rid of the old employes and bring in their own.
I've seen it several times, it ain't pretty.

 
At 10:19 PM, July 26, 2011, Anonymous Anonymous said...

Anonymous said...

I don't understand why you don't just leave. It's interesting to go back and look at old stories on here. Every station ownership has been beaten down by several people. I'm thinking that instead of going across the street to work, maybe you should just go into a different field.

4:44 PM, July 26, 2011

Amen to that! If you are young and unless your are an IT type person, you should change your field of employment. Broadcasting, both radio and TV, downsizing will increase and as someone on here said recently if you are not the fair-haired boy/girl, you will be gone. Odds are not in your favor of ever retiring from broadcasting.

 
At 6:29 AM, July 27, 2011, Anonymous Miss Communication said...

6:07 PM You are 100% correct. There is always a lot of turnover when a station or other business changes ownership, however, it varies widely depending on the individual company and situation. For instance, years ago when Raycom took over KSLA in Shreveport, they did not fire all of their on air talent like Nexstar did when they took over KTAL in 2000. Yes, Raycom did bring in some of their own people in different positions throughout the station, but that was less then 10% of the total station staff.L Like you I have known other company's that replaced half of the station staff.

 
At 7:25 AM, July 28, 2011, Anonymous Nick said...

I am glad I got out of broadcasting so I don't have to deal all this crap.

 
At 8:31 PM, July 28, 2011, Anonymous Brainiac said...

Yes, me too.

 
At 5:58 PM, July 29, 2011, Anonymous Anonymous said...

What Nick said and Brainiac said.

So glad to be out of a once great industry that has gotten too greedy and managerially aloof.

 
At 9:05 PM, July 29, 2011, Anonymous Anonymous said...

Now I am hearing that Sales Department employees or "Account Executives" (which were once the "Fair-Haired" of broadcast management) are going to be replaced by Internet sales. Never thought I would see the day.

 
At 10:43 PM, July 29, 2011, Anonymous Anonymous said...

Good AEs are never let go. If they are worth something they would have a job.

 
At 11:25 AM, July 30, 2011, Anonymous Anonymous said...

Yeah, they just get promoted to general manager positions within the company.

 
At 4:28 PM, July 30, 2011, Anonymous Miss Communication said...

You got that right.

10:43 PM Obviously you don't work for Nexstar. If you did then you would know they do fire, or run off AE's whether they are good, bad, or other wise. I've seen it time after time with Nexstar.

 
At 4:49 PM, July 30, 2011, Anonymous Moving on said...

5:58 PM You are so right. In all of my years in broadcasting I never thought I would ever see the industry in this kind of shape. I agree with you about management being aloof. The management at my former station is not only managerially aloof, but they are also managerially incompetent. Just be grateful we are both out of it now, and moving on to bigger and better things.

 
At 12:29 AM, July 31, 2011, Anonymous Anonymous said...

That's just words from an sales person that wasn't getting it done. If Nexstar is all about the buck then why would they get rid of performing sales people?

 
At 11:15 AM, July 31, 2011, Anonymous Moving On said...

To Anonymous 12:29 AM July 31, 2011

I have worked in broadcasting since Ronald Reagan was President, and sales is the only department I have never worked in. This rumor about Nexstar replacing the AE's with internet sales has been going around since February or March.

A lot of AE's are not making the sales they use too. For example, over the past few months my former station has been running promo fill during primetime. If they are running no fee promo fill during primetime then it is clear the AE's are not selling their inventory. By getting rid of the AE's Nexstar can take all of those commissions and put them directly in management's pockets.

 
At 3:06 PM, July 31, 2011, Anonymous Anonymous said...

"That's just words from an sales person that wasn't getting it done. If Nexstar is all about the buck then why would they get rid of performing sales people?"

Apparently you have not read earlier posts on this site. Internet sales and auto-renewal of sales is imminent. You are just not in the "loop" or you would know this if you are in management.

With less sales staff, you save money by not paying retirement, health insurance, vacation time. Now do you get the picture? (no pun intended).

 
At 6:59 PM, July 31, 2011, Anonymous Anonymous said...

Name a station that has reduced the Sakes rep count

 
At 2:45 PM, August 01, 2011, Anonymous Anonymous said...

It's in the works.

 
At 9:11 PM, August 01, 2011, Anonymous Anonymous said...

And they are normally the last to go. So . . . oh well . . . nuff said.

 
At 9:20 AM, August 02, 2011, Anonymous Anonymous said...

I've heard rumors about this from contacts at several Nexstar owned stations. I have also asked contacts who work for other company's and it seems this is a Nexstar thing for now, but it may spread to the rest of us.

 
At 10:45 PM, August 02, 2011, Anonymous Anonymous said...

Guaranteed to go viral throughout the industry. Just give it time.

Who really cares, unless you are still in broadcasting?

 
At 10:42 AM, August 07, 2011, Anonymous Anonymous said...

Has anyone heard any updates about this possible Nexstar sale? WIth some of the company's actions recently I'm about 60/40 on if this is for real, or is this is Perry's Bluff 2.0.

 
At 7:38 PM, August 08, 2011, Anonymous Wondering said...

It's interesting that the last day for master control here at the KTAL was Saturday July 16, then Nexstar announces it's for sale on the following Thursday July 21. I wonder how many other jobs and departments we are going to shed before Nexstar gets sold.

 
At 11:33 PM, August 08, 2011, Anonymous Anonymous said...

I imagine that they are trimming all the fat to make the price lower. You know, less retirement to pay, less payroll to make, less health care to pay for. That is what the prospective buyer would like to see.

 
At 10:56 AM, August 09, 2011, Anonymous Anonymous said...

If Nexstar, or KTAL does get sold the hub might not stay. Mr. Francis said the last station he worked at in Syracuse New York was a hub, but when the station was sold the hub was dissolved.

 
At 1:39 PM, August 10, 2011, Anonymous Anonymous said...

I hope that happens here so we can get everything back. It's been total bull____ around here since master control left last month.

 
At 11:38 PM, August 10, 2011, Anonymous Anonymous said...

Imagine the load put on the guy/gal at KARK when it comes to switching and programming.

Bet the pay didn't go up either.

 
At 11:08 AM, August 11, 2011, Anonymous Anonymous said...

Of course not. Switching for 8 stations and pay didn't go up one penny.

 
At 1:17 PM, August 11, 2011, Anonymous Miss Communication said...

Sweetie, that's the Nexstar way. Have one or two people doing the job five or six people use to do. They did the same thing when they moved traffic and the business office to the hub at KARK in 2009. Most of the functions of the business office and some of the functions of traffic are still done here at the local stations. Not the hub.

 
At 12:15 PM, August 15, 2011, Anonymous Mrs. Over Worked said...

Miss Communication, honey you are right about that. I work at a Nexstar station also, and things are the same way here. In all the years I've worked in broadcasting, this is the first time I've ever worked for a Nexstar owned station. I'll never make that mistake again.

They actually thinks it's normal to advertise one job with one job description. It's not until you actually get into the job that you find out you have your job to do plus three extra jobs that are not part of your job description.

 
At 11:56 PM, August 15, 2011, Anonymous Anonymous said...

The more they assign you, and the more you do, the more job security you will have. Every wonder why the person that used to do the jobs is no longer there?

Just do it or get out while you are young.

 
At 9:56 AM, August 16, 2011, Anonymous Anonymous said...

That's so not true.

 
At 5:42 PM, August 16, 2011, Anonymous Mrs. Over Worked said...

11:56 PM Yes I know exactly what happened to the people who use to do those jobs. They were laid off when their departments were moved to Little Rock. Even though those departments are officially at KARK, most of the functions of those departments have been pawned off on the rest of us who are left, and are still done here at the local station. None of the other broadcasting company's I have worked for over the past 20+ years are operating like this.

 
At 8:25 AM, August 17, 2011, Anonymous Anonymous said...

You tell it Mrs. Over Worked. Since master control was moved to KARK last month half of the things master control did here were pushed off the production. As if we needed all that to do on top of our normal jobs.

 

Post a Comment

<< Home