Nexstar Broadcasting Completes Acquisition of CBS Affiliates WFRV-TV and WJMN ... MarketWatch (press release)
Announced today that it completed the previously announced purchase of the assets of WFRV-TV and WJMN-TV, the CBS affiliates serving the Green Bay, Wisconsin and Marquette, Michigan markets, and has appointed Joseph Denk Vice President and General Manager of both stations and their associated e-Media operations.The WFRV-TV and WJMN-TV stations were purchased from an affiliate of Liberty Media Corporation for $20 million and are expected to be immediately accretive to Nexstar's operating results. Reflecting the completion of the transaction, Nexstar owns, operates, programs or provides sales and other services to 13 CBS affiliates and a total of 65 television stations and related digital signals in 36 markets in 16 states, and reaches approximately 13.5 million television households.
Nexstar Broadcasting Group President and CEO, Perry A. Sook, commented on the transaction, "The acquisition of WFRV and WJMN brings immediate strategic and financial benefits to Nexstar as it expands and diversifies our station portfolio, is de-leveraging on a debt-to-cash-flow basis and marks our entree to Wisconsin and Michigan which complement our existing Midwest operations. Under Nexstar's ownership both stations will realize additional retransmission revenues as well as synergistic operating improvements. As such, the purchase price for the two stations is less than five times the average 2010/2011 pro-forma projected cash flow. On a pro-forma basis the acquisition is immediately accretive and we expect WFRV and WJMN to contribute to our results for the second half of 2011."
Debt Consolidation Care Affiliate Program Demo
This is a video to explain the affiliate program of debt consolidation care. It will be more easier for you to understand the affiliate program of ...
affiliate consolidation debt - News
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