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March 26, 2015 6:32 PM ET


Company Overview of Mission Broadcasting Inc.

Company Overview

Mission Broadcasting, Inc., a television broadcasting company, acquires, develops, and operates television stations in medium-sized markets in the United States. Its stations provide free over-the-air programming to its markets’ television viewing audiences. As of March 31, 2014, the company owned and operated 20 television stations and 4 digital multicast channels in New York, Pennsylvania, Illinois, Indiana, Missouri, Louisiana, Texas, Vermont, Arkansas, and Montana. Mission Broadcasting, Inc. is based in Westlake, Ohio.

30400 Detroit Road

Suite 304

Westlake, OH 44145

United States

37 Employees



Key Executives for Mission Broadcasting Inc.

Principal Executive Officer, President, Principal Financial Officer, Principal Accounting Officer, Treasurer and Director
Age: 67
Chairman and Secretary
Age: 61
Compensation as of Fiscal Year 2014.

Mission Broadcasting Inc. Key Developments

Mission Broadcasting Inc. expected to report Fiscal Year 2014 results on March 26, 2015. This event was calculated by Capital IQ (Created on March 20, 2015).

Mission Broadcasting Inc. expected to report Fiscal Year 2014 results on March 26, 2015. This event was calculated by Capital IQ (Created on March 20, 2015).

Nexstar Broadcasting, Inc. and Mission Broadcasting, Inc. Enters into Amendments to Each of their Senior Secured Credit Facilities

On May 6, 2014, Nexstar Broadcasting, Inc. and Mission Broadcasting, Inc. entered into amendments to each of their senior secured credit facilities. The main provisions of the amendments, effective as of April 30, 2014, are as follows: Nexstar Broadcasting's and Mission's commitments under the Term Loan A Facilities were reduced to $112.2 million and $60.0 million, respectively, from $144.0 million and $90.0 million, respectively. Subject to reallocation of up to $18.0 million for the benefit of Rocky Creek Communications, Inc., Nexstar Broadcasting may reallocate its unused Term Loan A Facility to Mission and Mission may also reallocate its unused Term Loan A Facility to Nexstar Broadcasting. Extended the availability period of the unused Term Loan A Facilities until October 31, 2014. The quarterly principal payments under the Term Loan A Facilities will commence on December 31, 2014 until maturity on June 28, 2018. Nexstar Broadcasting and Mission will pay a commitment fee on unused Term Loan A Facilities of 1.0% per annum. The proceeds from borrowings under the Term Loan A Facilities may be used to fund the purchase price and related costs in connection with permitted acquisitions as defined in the amended credit agreements. On May 6, 2014, Nexstar prepaid $3.2 million of the outstanding principal balance under its Term Loan A pursuant to the terms of its amended credit agreement.

Nexstar Broadcasting Group, Inc. and Mission Broadcasting Inc. to Acquire Six Television Stations

Nexstar Broadcasting Group, Inc. announced that it and Mission Broadcasting, Inc. (Mission) have entered into definitive agreements to acquire six television stations in two markets for $37.5 million, in transactions that are expected to be immediately accretive upon closing. The stations are being acquired from Gray Television Group, Inc. (Gray) and Excalibur Broadcasting, LLC (Excalibur) and represent the equity interests of certain subsidiaries of Hoak Media, LLC (Hoak), and Parker Broadcasting, Inc. (Parker) which Gray and Excalibur previously agreed to purchase from Hoak and Parker, respectively. Under the terms of the agreements, Nexstar will acquire five stations from Gray, and Mission will acquire one station from Excalibur. Nexstar will fund $33.5 million of the purchase consideration and Mission will fund the $4 million balance. The acquisitions will be funded through internal sources, borrowings under the existing credit facilities and future credit market transactions.

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