This Day On The Street
Continue to site
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Nexstar Broadcasting Group To Acquire Seven Television Stations In Four Markets For $87.5 Million In Accretive Transaction

Nexstar Broadcasting Group, Inc. (Nasdaq: NXST) (“Nexstar”) announced today that it entered into a definitive agreement to acquire the stock of Grant Company, Inc. (“Grant”), the owner of seven television stations in four markets for $87.5 million in a transaction that is expected to be immediately accretive upon closing. Simultaneous with the Grant agreement, Nexstar entered into a purchase agreement with Mission Broadcasting, Inc. (“Mission”) pursuant to which Mission will purchase one of the Grant stations from Nexstar and, upon consummation of the transaction, enter into local service agreements with Nexstar. The acquisition will be funded through internal sources, borrowings under the existing credit facilities and future credit market transactions.
 
Grant Company, Inc. Television Stations
      Market       Market Rank       Station       Affiliation
1     Roanoke, VA       66       WFXR       FOX/CW
2     Roanoke, VA       66       WWCW       CW/FOX
3     Huntsville, AL       79       WZDX       FOX
4     Quad Cities, IA       100       KGCW       CW
5     Quad Cities, IA       100       KLJB*       FOX
6     LaCrosse, WI       128       WLAX       FOX
7     LaCrosse, WI       128       WEUX       FOX

* to be acquired by Mission
 

The planned station acquisitions will further expand Nexstar’s local television broadcasting and digital media platforms with stations that are complementary to Nexstar’s operating base and present significant financial and operating synergies. Upon closing this and other previously announced transactions, and reflecting the dissolution of Nexstar’s JOA in Rochester NY at year end, Nexstar’s portfolio of stations that it owns, operates, programs or to which it provides sales and other services will increase to 102 stations in 54 markets reaching approximately 15.5% of all U.S. television households.

1 of 5

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
SYM TRADE IT LAST %CHG

Markets

Chart of I:DJI
DOW 16,102.38 -272.38 -1.66%
S&P 500 1,921.22 -29.91 -1.53%
NASDAQ 4,683.9190 -49.5780 -1.05%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs