Friday, January 04, 2013

Stick a Fork in it....The Deal is Done.....

Source: Nexstar Press Release: Nexstar Broadcasting Group, Inc. (Nasdaq: NXST) announced today that Mission Broadcasting, Inc. (“Mission”), completed the previously announced acquisition of two television stations in Little Rock, AR from entities controlled by privately-held Newport Television, LLC (“Newport”) for $60 million.  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 Chief Executive Officer of Nexstar Broadcasting Group, Inc., commented, “This transaction is consistent with our core strategy to expand our operations and pursue financial and operating synergies to enhance free cash flow.  We look forward to leveraging our knowledge of the Little Rock market, as we provide services to Mission, for the benefit of viewers of KLRT and KASN while creating an even stronger marketing platform for local area businesses.

1 Comments:

At 1:51 PM, January 08, 2013, Anonymous Anonymous said...

all that sounds true except the part about "...the benefit of viewers..."
Nexstar couldn't care less about viewers until it impacts their revenues.

 

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