Nexstar Broadcasting is getting millions from Sinclair Broadcast Group’s recent acquisition of the stations of Four Points Media.
Nexstar has been providing management services to Four Points and its deal was terminated when Sinclair gained control of the company’s stations. The $6.7 million amounts to a termination fee plus money still owed for services provided in 2011.
“The Four Points transaction is the culmination of our efforts…to improve the market position and operating efficiencies of these stations and create value for the group,” Nexstar chairman and CEO Perry Sook said. “We are confident that under Sinclair’s management, the markets, viewers and advertisers served by these stations will benefit from a continued focus on quality programming and community service.”
- Broadcasting Companies Get Bigger, But Their Backs Are Still Against the Wall
- Robert Allbritton on Sinclair Deal: 'It’s Great To Do a Deal, But it’s Kind of Tough to Walk Away'
- Gannett Completes Acquisition of Six London Broadcasting Stations
- Fox and Cox Swap Stations in San Francisco, Boston, Memphis