Nexstar Broadcasting (NASDAQ:NXST, Stock Forum), a television broadcasting and digital media firm engaged in the acquisition, development and operation of television and interactive community websites in the United States, announced today that the company acquired the stock of Enterprise Technology Group (“ETG”), provider of cloud-based content management, engagement and monetization solutions.
According to the news release, “The addition of ETG’s operations are expected to expand Nexstar’s digital business portfolio to approximately $50 million in annual run rate revenues.”
Company president and CEO, Perry A. Sook, commented on the transaction, “This is another step in our plan to strategically invest in and expand our digital media portfolio to serve a broad range of businesses and needs.”
He then concluded, “By combining Nexstar’s technology offerings and capabilities with ETG’s, our holistic approach to content rendering, analytics and platform optimization will create revenue opportunities and deliver value across our existing digital media operations and to our growing client base, particularly those seeking cross-device CMS solutions.”