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Slide #57. Nexstar Broadcasting Group, Inc. — 10 Television Stations and Inergize Digital e-Media Operations from Newport Television
Nexstar Broadcasting Group, Inc. (NASDAQ:NXST)
10 Television Stations and Inergize Digital e-Media Operations from Newport Television
Nexstar Broadcasting Group, Inc. announced today that it completed the previously announced acquisition of ten television stations and two associated digital sub-channels in seven markets as well as the Inergize Digital e-Media operations from entities controlled by privately-held Newport Television, LLC for $225.5 million in a transaction that is expected to be immediately accretive to Nexstar. Nexstar financed the acquisition through borrowings under its new senior secured credit facilities, which were consummated concurrent with the closing of the acquisition.
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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Strong Buy (4.00 out of 4)