Originally featured on BroadcastEngineering.com
Nexstar considers sale of 49 TV stations
Nexstar Broadcasting Group, the nation’s 25th largest broadcast company and owner of 49 TV stations in mid- and small-size markets, put out word last week that it may be for sale. The broadcaster hired Goldman, Sachs & Co. to assist the company in reviewing its options.
Nexstar’s TV stations reach 8.25 percent of all U.S. TV households. The stations are located in 29 markets, including those in Illinois, Indiana, Maryland, Missouri, Montana, Texas, Pennsylvania, Louisiana, Arkansas, Alabama and New York. The station group includes affiliates of NBC, CBS, ABC, Fox, MyNetworkTV and The CW.
In the first quarter, Nexstar’s revenue was about $62 million, an increase of 4.1 percent. That growth was attributed to the company’s acquisition of WTAJ-TV, the CBS affiliate in Johnstown-Altoona, PA, and WLYH-TV, The CW affiliate in Harrisburg-Lancaster-Lebanon-York, PA.