Wednesday, July 20, 2011

Nexstar Broadcasting After Report of Possible Sale

Shares of Nexstar Broadcasting Group Inc. (NASDAQ: NXST) jumped more than 26% on Wednesday after the Wall Street Journal reported that the company is putting itself up for sale and has hired a financial adviser to engage potential buyers in talks. With a market capitalization of about $210 million and an enterprise value, including net debt, of more than $800 million, Nexstar could fetch more than $1 billion, the Journal said. Nexstar Broadcasting Group, Inc., a television broadcasting company, engages in the acquisition, development, and operation of television stations in medium-sized markets in the United States. 

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