They just bought WFRV, now Nexstar may put themselves up for sale

FoxCitiesTV's picture
FoxCitiesTV's picture
FoxCitiesTV
Green Bay
administrator
Well that was quick!

The ink is barely dry on Nexstar Broadcasting's purchase (and subsequent website mangling) of WFRV in Green Bay, and now we have word that Nexstar may be putting themselves up for sale.

Industry website Deadline.com posted news of the sale exploration this morning.  Nexstar, which owns 65 stations in 35 markets, could fetch upwards of a billion bucks.
Irving, TX (July 21, 2011) - Nexstar Broadcasting Group, Inc. (NASDAQ: NXST) announced today that its Board of Directors has decided to explore and evaluate strategic alternatives intended to maximize shareholder value, including a possible sale of the Company. The Company has retained Moelis & Company as its financial advisor and Kirkland & Ellis LLP as its legal counsel.

The Company has not made a decision to pursue any specific strategic transaction or other strategic alternative and there is no set timetable for the process, so there can be no assurance that the exploration of strategic alternatives will result in a sale of the Company or any other transaction. The Company does not intend to disclose developments with respect to the progress of its strategic review until such time as the Board has approved a transaction or otherwise deems disclosure appropriate.

Posted July 21, 2011 9:26am in
Krause's picture

Let's cross our fingers and

Let's cross our fingers and hope for the best. If they DO decide to sell themselves, I hope the new owner restores WFRV.com to its former glory. The question is, WHO would buy such a large group of stations that are so irresponsibly managed? :P

They would also have to be careful with who they would sell themselves to. For example, if they sold themselves to LIN TV, Green Bay already has 2 LIN stations. So, I'm sure that would cause an uproar with the FCC.

Also, the company that would buy Nexstar would probably be rather large already, so that would probably cause some more corporate synergy with the stations' online services. But, I'm sure anything is better than Nexstar's in-house format.

In conclusion, it would be great to see Nexstar get out of the TV business, since nobody likes them anyway. But, if they DO end up sticking around yet, at least we still have our WFRV.com petition, which I must admit, is quite impressive so far.

AJBlodgett's picture

Yes! I do hope that this will

Yes! I do hope that this will mean that we will get a better website now. :) I never liked the look of the old website, but the features made up for that. So I hope this deal goes through!!! :) :) :)

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