Breaking! Nexstar Buys Two Stations

Nexstar announced that it is buying KRBK in Springfield, Missouri (DMA #75), and WHDF the CW affiliate serving Huntsville, Alabama (DMA #80) for a price of $19.45 million. 

KRBK is owned by Koplar Communications and I have a great story to tell about that company and about KRBK, but, I'll save it for another time. 

 About the deal, Tim Busch, President of Nexstar Broadcasting, Inc. said, “Nexstar remains opportunistic in expanding our broadcast and digital platform by pursuing strategically and financially compelling growth opportunities that further enhance our overall competitive position and free cash flow. The acquisitions of KRBK-TV and WHDF-TV will allow Nexstar to generate incremental advertising and net retransmission consent revenue growth without increasing our total U.S. television household reach. In addition, the transactions are EBITDA leverage-neutral on a pro-forma basis, and the purchase price represents a highly attractive multiple of the pro forma contribution to Nexstar’s operating results, given the operating synergies and anticipated elevated levels of advertising and distribution revenues.

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