Nexstar Media Group acquired Stations from Gray Television and Excalibur Broadcasting (Hoak Media and Parker Broadcasting subsidiaries) for $37.5 million, a transaction announced in December 2013, structured as all cash.
Stations from Gray Television and Excalibur Broadcasting (Hoak Media and Parker Broadcasting subsidiaries) operates in Local television broadcasting. Nexstar Broadcasting Group and affiliate Mission Broadcasting entered into definitive agreements to acquire six television stations in two markets for $37.5 million. The stations, representing equity interests of certain subsidiaries of Hoak Media and Parker Broadcasting, were being acquired from Gray Television Group and Excalibur Broadcasting. Nexstar acquired five stations from Gray (funding $33.5 million) and Mission acquired one station from Excalibur (funding $4 million).
The planned station acquisitions will again expand Nexstar's and Mission's local television broadcasting and digital media platforms with stations that are complementary to their operating base and present significant financial and operating synergies.
Advisory firms were not disclosed for this transaction.