Wednesday, January 27, 2016

Nexstar Growing Its Station List

The parent company for KARK/Channel 4/Little Rock and KTAL/Channel 6/Shreveport is expanding its number of stations.  Here is the press release:

On Thursday, Nexstar Broadcasting announced the purchase of the Television group Media General for $4.7 billion.
 

Once the transaction is completed, Nexstar will own 171 television stations, reaching approximately 39% of all U.S. television households.
Nexstar will change its name to Nexstar Media Group, Inc. upon the completion of the transaction.

 

Perry Sook, Chairman, President and CEO of Nexstar, commented, “The acquisition of Media General’s broadcasting and digital media assets represent a transformational growth opportunity for Nexstar and is strategically and financially compelling.  The transaction increases Nexstar’s broadcast portfolio by approximately two thirds with very limited overlap with our existing properties, more than doubles our audience reach, provides entrée to 15 new top-50 DMAs and offers synergies related to the increased scale of the combined digital media operations.
 

The new Nexstar Media Group will be one of the nation’s leading providers of local news, entertainment, sports, lifestyle and network programming and content through its broadcast and digital media platform with annual revenue in excess of $2.3 billion.
Vincent L. Sadusky, President and CEO of Media General, said, “We are pleased to reach this agreement with Nexstar, which provides Media General shareholders with substantial and immediate value, as well as the opportunity to participate in the significant upside potential of the combined company. Together with Nexstar, we can deliver a more comprehensive, integrated and competitive offering across all markets for the benefit of our advertisers and brands. I am thankful for the hard work and dedication of our talented employees, and I'm confident they will continue to make many valuable contributions as part of a larger and stronger organization. I look forward to working closely with the Nexstar team to bring our companies together to realize the power of this compelling combination and ensure a smooth transition.”

15 Comments:

At 2:46 PM, January 27, 2016, Anonymous Anonymous said...

Congrats to the new influx of stations now burdened with mediocrity and no ratings.

 
At 3:57 PM, January 27, 2016, Anonymous Anonymous said...

Hello combined synergies & future unemployment.

 
At 9:00 PM, January 27, 2016, Anonymous Anonymous said...

It's all about cash flow, nevermind that Nexstar is swimming in huge debt. They are one huge bubble of properties.

 
At 9:26 AM, January 28, 2016, Anonymous Anonymous said...

That's very to hear how Nexstar will ruin even more stations in the United States.

 
At 11:44 AM, January 28, 2016, Anonymous Anonymous said...

KARK was horrible when they were bought.

 
At 7:41 PM, January 28, 2016, Anonymous Anonymous said...

Cumulus is hemmoraging money in the radio world for acquiring too many stations but not enough revenue.

 
At 5:14 PM, January 29, 2016, Anonymous Anonymous said...

Once upon a time there was a federal law (FCC)prohibiting one company owning more than one media outlet per market. Ain't deregulation grand.

 
At 8:20 PM, January 29, 2016, Anonymous Anonymous said...

I worked at a station that Nexstar bought. They had some managers from corporate come in to the station and did their pep-talk but you could tell even they knew no one was really buying their BS. They simply used words like transition and assessments. Everybody had a one-on-one with certain folks and when it was all said and done, about 40% of staff was let go. Besides a new logo, news grfx / animation and set, the on-air product hasn't improved much and the station still lags in the ratings. Someone said it earlier, Nexstar only cares about cashflow. They put lipstick on a pig but nothing really changes, just fewer employees.

 
At 6:14 AM, January 31, 2016, Anonymous Anonymous said...

8:20

You right, you right, 8:20 and the rest who know Deathstar for what it really is. A big worm sucking the life out of local stations and leaving a dead husk without any talent and a bunch of maggots scarfing up what's left. But so it goes in local tv, probably now at its worst since Billy Bob did the kid's show (a pedophile's dream job) then stuck his sales hat to pitch the local furniture store before he read the "news" with the same store as the sponsor. And it ain't gonna change. Get out now, kids, before you pour anymore of you life down the sewer drain of corporate tv. RUN!

 
At 9:18 PM, January 31, 2016, Anonymous Anonymous said...

Folks, automation is real and it is a company's dream. Automation requires, no salary, no sick leave, no retirement and no vacation.

One or two techs can maintain an entire station or stations.

It is coming and will replace a lot of people working in TV broadcasting. It has already affected radio.

Get out while you can.

 
At 10:47 PM, January 31, 2016, Anonymous Anonymous said...

With 171 stations they're only in 39% of the markets!?

 
At 6:01 AM, February 04, 2016, Anonymous Anonymous said...

Watched KARK morning show for the first time in a long time today. Will someone tell me why Aaron Nolan has a job? He looks like he's just putting up with the rest of us and treats his co-anchor like she's stupid. Is it because his wife is the big evening anchor? Wow, that's sad. On the other hand, Victoria Price won't be here long. Good hire...

 
At 6:10 AM, February 04, 2016, Anonymous Anonymous said...

Also, let me stem the "thanks for posting, Victoria," nonsense. i see there are a lot of morons on here who discount everything unless it's a cutting remark. Pat Walker also a nice surprise. When did the weather girl get preggers? Mallory setting up to be a career ChannelcFour talent.

 
At 6:02 PM, February 06, 2016, Anonymous Anonymous said...

Nexstar is buying yet another company? Seriously?!?! I wonder when Nexstar will go down in flames like Enron, HealthSouth, and WorldCom?

 
At 2:22 PM, February 08, 2016, Anonymous Anonymous said...

Won't happen until after the 2016 Presidential election as political ads saved Nexstar's bacon in 2011-12. So they're in for some serious ad cash-flow between now and November. After Jan. 2017, anyone's guess. Nexstar has assets slightly above debt and their gross income levels are good. It's only when things start heading south after the election but who really knows? As long as they can manage debt and keep getting financing, who knows when the Deathstar will implode. It's all about cash-flow, stock valuation and keeping ahead of debt.

 

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