Nexstar Broadcasting Group Announces Closing of Secondary Offering of Common Stock by Selling Stockholders
Nexstar Broadcasting Group, Inc. (NASDAQ: NXST) (the “Company”) today
announced the closing of the previously announced underwritten offering
of 3.5 million shares of Class A common stock of the Company by the
selling stockholders, funds affiliated with ABRY Partners, LLC (the
“Selling Stockholders”). The Company did not sell any shares in the
offering and did not receive any proceeds from the offering.
The Company also announced the closing of the previously announced
repurchase of 365,384 shares of Class A common stock, which occurred
concurrently with the closing of the underwritten offering, directly
from the Selling Stockholders in a private, non-underwritten transaction.
A shelf registration statement (including prospectus) relating to the
shares has been declared effective by the Securities and Exchange
Commission ("SEC"). This press release shall not constitute an offer to
sell or the solicitation of an offer to buy any securities nor has there
been any sale of these securities in any state or other jurisdiction in
which such offer, solicitation or sale would be unlawful prior to
registration or qualification under the securities laws of any such
state or other jurisdiction. The offering of these securities has been
made only by means of the prospectus supplement and the accompanying
prospectus.
About Nexstar Broadcasting Group, Inc.
Nexstar Broadcasting Group is a leading diversified media company that
leverages localism to bring new services and value to consumers and
advertisers through its traditional media, e-MEDIA, digital and mobile
media platforms. Nexstar owns, operates, programs or provides sales and
other services to 72 television stations and 13 related digital
multicast signals reaching 41 markets or approximately 12.1% of all U.S.
television households. Nexstar’s portfolio includes affiliates of NBC,
CBS, ABC, FOX, MyNetworkTV, The CW, Telemundo, and Bounce TV, the
nation’s first over-the-air broadcast television network programmed for
African-American audiences and two independent stations. Nexstar’s 43
community portal websites offer additional hyper-local content and
verticals for consumers and advertisers, allowing audiences to choose
where, when and how they access content while creating new revenue
opportunities. Assuming completion of all announced transactions,
Nexstar will own, operate, program or provide sales and other services
to 91 stations and 20 related digital multicast signals in 48 markets
reaching approximately 13.9% of all U.S. television households.
Forward-Looking Statements
Certain statements in this news release are forward-looking statements
within the meaning of the Private Securities Litigation Reform Act of
1995. Generally, forward-looking statements are not based on historical
facts but instead represent only our current beliefs regarding future
events. All forward-looking statements are, by their nature, subject to
risks, uncertainties and other factors that could cause actual results,
performance or achievements to differ materially from those expressed or
implied in such forward-looking statements. Investors are cautioned not
to place undue reliance on these forward-looking statements. Such
statements may be identified by words such as "expects," "anticipates,"
"intends," "projects," "estimates," "plans," "may increase," "may
fluctuate" and similar expressions or future or conditional verbs such
as "will," "should," "would," "may" and "could." Unless required by law,
we undertake no obligation to update or revise any forward-looking
statements, whether as a result of new information, future events or
otherwise. For more details on factors that could affect these
expectations, please see our filings with the Securities and Exchange
Commission.