Nexstar’s portfolio includes primary affiliates of NBC, CBS, ABC, FOX, MyNetworkTV and The CW. Did you know we have a YouTube Channel?
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Join our Cord Cutting Tech Support Facebook Group for help. Nexstar’s portfolio includes primary affiliates of NBC, CBS, ABC, FOX, MyNetworkTV and The CW. Nexstar Media Group is a leading diversified media company that leverages localism to bring new services and value to consumers and advertisers through its traditional media, digital and mobile media platforms. In addition, this transaction frees up approximately 0.7% household reach (reflecting the FCC’s UHF discount) allowing us to pursue other opportunistic transactions that strengthen our local market platform and service to viewers and businesses. Nexstar also owns WGN America, a growing national general entertainment cable network and a 31.3% ownership stake in TV Food Network, a top tier cable asset.
Nexstar Media Group and Fox Corp. announced Tuesday afternoon station sales between the two companies.. Nexstar will purchase from Fox Corp., the Charlotte, N.C. (DMA 21), Fox affiliate WJZY and MyNetworkTV affiliate WMYT for approximately $45 million in cash. These transactions also highlight our near-term focus on reducing leverage as our net leverage ratio will decline by approximately 0.1 times from the 4.6 times level, at June 30, 2019, announced when we closed the Tribune transaction in September. FOX Affiliated Stations Nexstar is Acquiring from Tribune Media Company will also be Covered by New Agreements Immediately Upon Closing of the Acquisition . IRVING, Texas – Nexstar Media Group, Inc. (Nasdaq: NXST) (the “Company”) announced today that it entered into purchase and sale agreements with Fox Television Stations, LLC, … Quibi Lament: How Did Jeffrey Katzenberg Not Succeed with Record High Pandemic Audience Levels and $1.8 Billion? Nexstar’s portfolio includes primary affiliates of NBC, CBS, ABC, FOX, MyNetworkTV and The CW. The forward-looking statements contained in this communication concerning, among other things, the purchase and sale transactions described herein, the use of proceeds therefrom and Nexstar’s future financial performance involve risks and uncertainties, and are subject to change based on various important factors, including Nexstar’s ability to successfully integrate the acquired television stations, Nexstar’s ability to realize the expected synergies and benefits from the purchase and sale transactions and the timing thereof, the impact of changes in national and regional economies, pricing fluctuations in local and national advertising, any future regulatory actions and conditions, competition from others in the broadcast television markets, volatility in programming costs, the effects of governmental regulation of broadcasting, industry consolidation, technological developments and major world news events.
Nexstar Media Group, Inc. is America’s largest local television and media company with 197 full power stations (including partner stations) in 115 markets addressing nearly 63% of US television households and a growing digital media operation. Meanwhile, Fox had long eyed valuable Tribune stations in NFL markets as a good fit with its existing collection of 28 stations, including outlets in nine of the top 10 markets. Nexstar’s portfolio includes primary affiliates of NBC, CBS, ABC, FOX, MyNetworkTV and The CW. Our writers and editors create all reviews, news, and other content to inform readers, with no influence from our business team. IRVING, Texas – Nexstar Media Group, Inc. (Nasdaq: NXST) (the “Company” or “Nexstar”) announced today that it completed the previously announced purchase and sale agreements with Fox Television Stations, LLC, a subsidiary of Fox Corporation (Nasdaq: FOXA, FOX) (“FOX”), whereby Nexstar purchased the Charlotte FOX Affiliate WJZY and MyNetworkTV Affiliate WMYT for approximately $45 million in cash, and divested the Seattle FOX Affiliate KCPQ and MyNetworkTV Affiliate KZJO, and the Milwaukee FOX Affiliate WITI, for approximately $350 million in cash.
Nexstar’s community portal websites offer additional hyper-local content and verticals for consumers and advertisers, allowing audiences to choose where, when and how they access content while creating new revenue opportunities. Nexstar intends to use the approximately $240 million of net after tax proceeds from the transactions to reduce borrowings under its credit facilities and for general corporate purposes. Forward-looking statements include information preceded by, followed by, or that includes the words “guidance,” “believes,” “expects,” “anticipates,” “could,” or similar expressions. Nexstar Media Group is a leading diversified media company that leverages localism to bring new services and value to consumers and advertisers through its traditional media, digital and mobile media platforms.
New Agreement Covers 31 FOX Affiliated Stations Owned, Operated or for which Nexstar Programs or Provides Services Reaching 17.5 Million Television Households. The transaction is subject to FCC approval and other customary approvals, and is expected to close in the first half of calendar year 2020. By using this site you agree to the Under the agreement, Nexstar’s Fox affiliates will go live on OTT platforms already distributing Fox programming. For more information please visit www.nexstar.tv.
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We take pains to ensure our site is accurate and up to date, but some information might be different than what you find by visiting a vendor website. Industry observers predict more transactions may be in store for Fox and Nexstar.
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