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 To Acquire Leading Digital Publishing Platform And Digital Agency In A Strategic Transaction

Nexstar Broadcasting Group, Inc. (Nasdaq:NXST) (“Nexstar”) announced today that it has entered into a definitive agreement to acquire the assets of Internet Broadcasting Systems, Inc. (“IB”), a leading digital publishing platform and digital agency services provider for $20.0 million in a transaction that is expected to be accretive to 2014 results. The acquisition will be funded through internal sources and is expected to close later this month.

A pioneer of innovative technology and services for the broadcast media industry, IB transforms how publishers engage and interact with their audiences through its suite of fully scalable digital solutions including award-winning websites, an innovative SaaS-based digital publishing platform, original and syndicated content, and one of the largest digital advertising agencies that provides full life-cycle advertising and sales operations solutions. IB’s clients include leading media companies such as Hearst Television and Post-Newsweek Stations, both of which have recently renewed their agreements with IB.

The planned acquisition of IB substantially broadens Nexstar’s digital media portfolio with technologies that are complementary to the Company’s and IB’s clients’ existing digital businesses and multi-screen strategies. IB will operate as a separate division in Nexstar’s digital media portfolio.

Tom O’Brien, Nexstar Broadcasting Group Executive Vice President/Digital Media and Chief Revenue Officer, commented, “IB’s leading digital publishing platform adds new IP and digital workflows to our digital platform offerings, allowing us to marry best-of-breed digital media practices from our current operations with those of IB to deliver more fully-integrated digital management solutions to IB’s clients and our markets to generate new revenue across multiple digital platforms.

“The IB acquisition also marks Nexstar’s entry into the profitable and fast-growing digital agency business. IB currently has a strong client roster and expertise in this business, and with Nexstar currently owning and operating more than 50 web properties, we will be in an ideal position to offer enhanced digital services to our customers as well as more innovative multi-platform marketing solutions for local and national advertisers on-air, online and on mobile devices.”

1 of 3

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
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
SYM TRADE IT LAST %CHG

Markets

DOW 18,034.93 +208.63 1.17%
S&P 500 2,100.40 +19.22 0.92%
NASDAQ 4,994.6020 +62.7870 1.27%

Partners Compare Online Brokers

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs