- Nexstar Broadcasting (NXST +0.1%) and Mission Broadcasting (in which Nexstar has a variable interest) acquire 5 TV stations in 4 markets for $103.25M. Nexstar will acquire stations in Des Moines, Iowa, Rock Island, Illinois, and Sioux City, Iowa, from Citadel Communications for $88M. Mission will acquire 2 stations in Binghamton, New York, for $15.25M.
- Nexstar anticipates the 5 stations will generate $35M in net revenue in the first year after closing. With $3M in projected synergies, the acquisitions are expected to deliver $17M in broadcast cash flows.
Nexstar and Mission Broadcasting acquire 5 TV stations for $103.25M
Sep 16 2013, 15:43 ET