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Posts Tagged ‘Nexstar Broadcasting’

Nexstar and NBC Sign Long-Term Affiliation Deal

nexstar_304Nexstar Broadcasting says it has signed a long-term affiliation deal with the NBC Television Network.

“We are delighted to extend our affiliation agreements with NBC in a manner that recognizes the value of NBC programming to our stations and the value that our stations bring to the NBC television network and our local viewers. NBC continues to have great momentum with a solid and successful lineup in all dayparts,” said Nexstar president and CEO Perry A. Sook about the deal covering 16 of Nextsar’s owned or operated stations. “With our stations also producing high quality, original, local news and other exclusive local programming, we are delivering great entertainment and information to viewers and an excellent platform for marketing solutions for local and national advertisers.”

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Nexstar Gets FCC Approval to Transfer Seven Stations to Minority Owned Broadcaster

nexstar_304The FCC has approved the license transfer of Grant Company stations to Nexstar Broadcasting and Marshall Broadcasting.

Nexstar bought Grant’s seven stations for $87.5 million in 2013. Marshall Broadcasting (MBG) is a minority owned station group with Nexstar’s financial backing.

“We are pleased to announce approval of an accretive transaction to benefit Nexstar shareholders,” Perry A. Sook, chairman, president and CEO of Nexstar said in a statement. “As a result of this approval, Nexstar will lead the industry in incubating a new, minority-controlled entrant to broadcasting and bringing additional news, information and specialized programming to markets where MBG will operate.”

The stations involved are CW and FOX affiliate WFXR-WWCW in Roanoke and Lynchburg, Va., FOX affiliate WZDX in Huntsville, Ala, CW affiliate KGCW and FOX affiliate KLJB in Quad Cities, and FOX affiliates WLAX-WEUX in LaCrosse, Wisc.

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Nexstar to Buy KASW in Phoenix for $68 Million

nexstar logoNexstar Broadcasting says it’s buying Phoenix CW affiliate KASW from Meredith Corporation and SagamoreHill of Phoenix for $68 million plus working capital.

Nexstar Broadcasting Group president and CEO, Perry Sook said in a statement, “[T]he transaction offers Nexstar entrée to the Arizona and Phoenix markets which represent a natural complement to our existing operations in the Southwestern region of the United States.”

RELATED: Sook tells MediabistroTV local stations are “basically the newspaper of record.”

Sook also said Nexstar plans to have KASW increase its focus on local programming and the community.

Meredith and SagamoreHill bought KASW from Gannett and Sander Media as part of its Belo purchase. “As part of Federal Communications Commission approval, Meredith and SagamoreHill voluntarily agreed to divest KASW to an independent buyer within 90 days of its June 19, 2014 closing.”

The buy is subject to FCC approval.

‘We’re Basically the Newspaper of Record,’ Nexstar CEO Talks About Local TV

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Nexstar CEO, chairman and president Perry Sook was one of 12 industry leaders to be inducted into the Broadcasting & Cable Hall of Fame Monday night at the Waldorf Astoria in New York City.

MediabistroTV caught up with Sook to ask about Nexstar’s next move and his views about the state of local TV.

“With the decline of newspaper and circulation and also the decline of days of publication, we’re basically the newspaper of record,” said Sook. “I think the services we provide to markets like Burlington, Vt. and Rochester, N.Y. and Salt Lake City, Utah are absolutely essential and hard to duplicate anywhere else.”

Nexstar Sells Evansville Station for $18.6 Million

nexstar_304Nexstar has announced it is selling Evansville CBS affiliate WEVV for $18.6 million to minority led broadcaster Bayou City Broadcasting Evansville, Inc.

“The proposed transaction announced today highlights our focus on completing pending transactions and represents the second time in the last two months that Nexstar has structured an agreement that furthers the FCC’s goal of increasing minority television ownership diversity,” Nexstar chairman, president and CEO Perry Sook said in a statement.

WEVV is owned by Communications Corp. of America. Nexstar and Mission Broadcasting announced they were buying CCA last April for $270 million.

According to the Nexstar press release, “The sale of WEVV to BCB brings the overall CCA transaction into compliance with Department of Justice requirements for approval and will release the pending transaction from hold pending divestiture.”

Nexstar Buys Digital Publishing Platform for $20 Million

nexstar_304Nexstar has announced it has entered into a definitive agreement to buy the assets of Internet Broadcasting Systems, Inc. for $20 million.

In its press release about the acquisition, Nexstar calls IB, “A pioneer of innovative technology and services for the broadcast media industry.”

“We envision our clients transforming their broadcast media businesses into digital brands powered by compelling, dynamic, frequently updated news, information and entertainment content,” IB says about itself on the company website. “We envision our clients creating deeply personal connections with their audience by way of websites, mobile devices, social media and special-purpose applications.” Read more

FCC Expected to Vote on Shared Service Agreement Ban

FCC_304Federal Communications Chairman Tom Wheeler is expected to ask the FCC to vote on a ban of some shared-service agreements in the commissions next meeting.

The proposal is also expected to ban local stations from teaming up in retransmission negotiations.

Bloomberg reports Sinclair Broadcasting, along with several other station groups including Nexstar and LIN Media would be forced to give up some stations if the proposal passes.

Sinclair’s revenue last year from the type of arrangement the officials said Wheeler is most directly targeting amounted to $36 million, according to the filing. Sinclair reported $1.36 billion in revenue last year.

Sinclair fell 1.9 percent to $29.51 at 10:12 a.m. New York time. Nexstar lost 1.7 percent to $42.84, while Lin Media declined less than 1 percent to $23.09.

Wheeler needs to win a vote to pass the change at the FCC, where he is part of the three-member Democratic majority. The agency’s next meeting is March 31 in Washington. Read more

Nexstar Moves Corporate Headquarters About One Mile

nexstar_304Nexstar Broadcasting Group announced it moved its entire corporate staff to its new headquarters in Irvine, TX, yesterday.

“The relocation of our headquarters reflects Nexstar’s rapid growth and expansion.,” Perry A. Sook, chairman, president and CEO of Nexstar said in a statement. “The new corporate offices provide Nexstar with economic and operational benefits as well as capacity for continued growth as we seek to further expand our local marketing solutions platform of leading broadcast and digital media assets.”

According to a Google map search conducted by TVSpy, Nexstar’s new address is about a mile away from its old HQ. Read more

TWC and American Cable Association Ask FCC to Stop Mission’s Binghamton Station Buy

FCC_304Time Warner Cable and the American Cable Association are asking the FCC to deny Mission Broadcasting’s purchase of two Stainless Broadcasting stations in the Binghamton, NY, market.

In the petition, the two point out the deal, through sharing agreements with Mission, would essentially give Nexstar Broadcasting control of three of the four stations affiliated with major networks in that market.

As in similar petitions, the ACA is primarily looking to prevent station groups from gaining leverage when it comes to renegotiating retransmission deals and points a finger directly at Nexstar CEO Perry Sook for saying so, “Indeed, Nexstar’s CEO has acknowledged that a central rationale for the Mission-Stainless transaction is to use the leverage afforded by the combination of top-ranked stations in Binghamton to garner increased retransmission consent fees.” Read more

Nexstar to Acquire Grant Company For $88M

nexstar logoNexstar Broadcasting is acquiring Grant Company, Inc. for $87.5 million. The deal, which is expected to close in the first quarter of 2014, will add seven stations in four markets to Nexstar’s portfolio.

The stations are WFXR and WWCW in Roanoke; WZDX in Huntsville, Ala.; KGCW and KLJB in Quad Cities, Iowa; and WLAX and WEUX in La Crosse, Wisc. After the Nexstar acquisition, Mission Broadcasting will purchase KLJB and subsequently enter into a local service agreement with Nexstar.

“We believe the acquisition of these stations and the expanded scale they bring to our operations combined with our record of building new local direct client relationships, success in expanding local programming and consistent growth in digital media and political revenues, position Nexstar to continue building long-term shareholder value,” Nexstar CEO Perry A. Sook said in a statement.

With the acquisition, Nexstar will own, operate, program or provide sales to 102 stations in 54 markets, reaching 15.5% of all U.S. television households.

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