Nexstar Broadcasting Group, Inc. (NASDAQ: NXST) (the “Company”) today announced that selling stockholders, funds affiliated with ABRY Partners, LLC, intend to offer 3.0 million shares of Class A common stock of the Company for sale in an underwritten offering. In addition, the selling stockholders have granted the underwriter a 30-day option to purchase up to an additional 450,000 shares of Class A common stock on the same terms and conditions. BofA Merrill Lynch is acting as sole underwriter of the offering. 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. Closing of the offering is expected to occur on or about February 12, 2013, subject to customary closing conditions. 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, when available, may be obtained from BofA Merrill Lynch, 222 Broadway, New York, New York, 10038, Attention: Prospectus Department or by email at email@example.com. 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.