Television & Radio M&A » By The Online Investor Staff, updated Sat., Mar. 6, 9:29 PM
Recent mergers and acquisitions in the Television & Radio M&A category.
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Slide #51. Nexstar Broadcasting Group, Inc. (NASDAQ:NXST) and Mission Broadcasting, Inc. — Two Vermont Stations
Acquirer:
Nexstar Broadcasting Group, Inc. (NASDAQ:NXST) and Mission Broadcasting, Inc. (NASDAQ:NXST)
Acquiree:
Two Vermont Stations
Details:
Nexstar Broadcasting Group, Inc. (NASDAQ:NXST) and Mission Broadcasting, Inc. announced today that they completed the previously announced accretive acquisition of the assets of WFFF-TV (FOX) and WVNY (ABC) serving the Burlington, Vermont market from Smith Media, LLC and affiliates for a total of $16.9 million. Concurrent with the closing of the station acquisitions, Nexstar and Mission entered into a local services agreement whereby Nexstar is providing sales and other services to WVNY.
Nexstar Media Group is a television broadcasting and digital media company focused on the acquisition, development and operation of television stations and interactive community websites and digital media services. The stations provide over-the-air programming. This programming includes programs produced by networks with which the stations are affiliated; programs that the stations produce; and first-run and rerun syndicated programs that the stations acquire. Co.'s digital media businesses provide digital publishing and content management platform, digital video advertising platform, social media advertising platform and other digital media solutions to media publishers and advertisers.
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Avg. Broker Rec.
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Strong Buy (4.00 out of 4) 85th percentile
(ranked higher than approx. 85% of all stocks covered)
Analysts' Target Price: NXST Stock Forecast Based on Zacks ABR data; powered by Xignite |
