Television station operator Nexstar Broadcasting Group Inc (NXST.O) is putting itself up for sale and has hired a financial adviser, the Wall Street Journal reported on Wednesday. Nexstar could fetch more than $1 billion in a sale, according to the report, which cited people familiar with the matter. Private equity firms or other broadcasting companies are among the possible buyers for Nexstar, the report said, adding that private equity firm ABRY Partners holds a significant ownership stake in the company. Nexstar did not return a Reuters call for comment. The company, based in Irving, Texas, operates or provides sales and related services to 65 television stations, many of which are affiliates of large networks like NBC and CBS.
Nexstar Broadcasting Group, Inc. (Nexstar) is a television broadcasting company focused on the acquisition, development and operation of television stations in medium-sized markets in the United States. Shares of NXST traded higher by 26.53% or $1.95/share to $9.30. In the past year, the shares have traded as low as $3.64 and as high as $9.26. On average, 65776 shares of NXST exchange hands on a given day and today's volume is recorded at 727707.
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