'Problematic' FCC Conditions On Station Sale Could Create Detroit Drama [Yahoo! Finance]
Nexstar Media Group, Inc. (NXST)
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Source: Yahoo! Finance
Kevin Adell, CEO of Adell Broadcasting, owner of WADL, told Broadcasting+Cable he expects the $75 million deal to go through, but said that Mission called the conditions “problematic.” Mission's bid is being financed by Nexstar Media Group, which wants WADL to become the market's CW affiliate after September 1, when the CW's deal with WMYD, owned by E.W. Scripps Co., expires. Scripps and Nexstar have said the affiliation deal won't be renewed But a similar deal in which Mission bought WPIX, New York, and had Nexstar run the station under a series of management and marketing agreements, led to the FCC's Media Bureau fining both companies and requiring Mission to sell WPIX because Nexstar's “de facto” control of the station put it over the commission's ownership limit. Nexstar has challenged the FCC's decision. To prevent a similar situation in Detroit, the FCC approved the sale of WADL but barred Nexstar from being involved in financing the deal and limited the amount of progr
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News
- Nexstar Television Stations in Chicago, Norfolk, and Lafayette, LA, to Become Affiliated With The CW Network on September 1 [Yahoo! Finance]Yahoo! Finance
- Nexstar Television Stations in Chicago, Norfolk, and Lafayette, LA, to Become Affiliated With The CW Network on September 1Business Wire
- Nexstar Media Group (NASDAQ:NXST) shareholders have earned a 10% CAGR over the last five years [Yahoo! Finance]Yahoo! Finance
- Nexstar Media Group Declares Quarterly Cash Dividend of $1.69 Per Share [Yahoo! Finance]Yahoo! Finance
- Nexstar Media Group Declares Quarterly Cash Dividend of $1.69 Per ShareBusiness Wire
NXST
Earnings
- 2/28/24 - Miss
NXST
Sec Filings
- 5/2/24 - Form ARS
- 5/2/24 - Form DEFA14A
- 4/29/24 - Form DEF
- NXST's page on the SEC website