Nexstar Broadcasting Group, Inc. (NASDAQ: NXST) (the “Company”) today announced the pricing of the previously announced sale by selling stockholders, funds affiliated with ABRY Partners, LLC, of 8.0 million shares of the Company’s Class A common stock at $9.25 per share. The offering consists entirely of secondary shares to be sold by the selling stockholders. The Company will not sell any shares in the offering and will not receive any proceeds from the offering. The selling stockholders have granted the underwriters a 30-day option to purchase up to an additional 1.2 million shares of Class A common stock on the same terms and conditions. Credit Suisse Securities (USA) LLC, Wells Fargo Securities, LLC and UBS Securities LLC are the joint book-running managers of the offering. RBC Capital Markets, LLC and Evercore Group L.L.C. are acting as co-managers of the offering. A shelf registration statement (including prospectus) relating to the shares has been declared effective by the Securities and Exchange Commission ("SEC"). Before you invest, you should read the prospectus and other documents filed with the SEC for more complete information about the Company and this offering. You may get these documents for free by visiting EDGAR on the SEC Web site at www.sec.gov. Alternatively, copies of the preliminary prospectus supplement and final prospectus supplement may be obtained from Credit Suisse Securities (USA) LLC, Attention: Prospectus Department, One Madison Avenue, New York, New York, 10010, or by e-mail to firstname.lastname@example.org or toll-free at 800-221-1037; Wells Fargo Securities, LLC Attention: Equity Syndicate Dept., 375 Park Avenue, New York, New York 10152, or by email to email@example.com, or toll-free at 800-326-5897; or from UBS Securities LLC, Attention: Prospectus Department, 299 Park Avenue, New York, New York 10171, or toll-free at 888-827-7275. This press release shall not constitute an offer to sell or the solicitation of an offer to buy any securities nor will there be any sale of these securities in any state or other jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or other jurisdiction. The offering of these securities will be made only by means of the prospectus supplement and the accompanying prospectus.
Should campaigners, publishers, broadcasters and politicos start calling Donald Trump "low-budget Trump"? At this point, yes. But broadcasters shouldn't fret about expected political advertising dollars. Here's why.