TV Station Owner Nexstar May Sell Itself as Losses Mount

Nexstar Broadcasting Group Inc., manager of television stations in the south and northeast, said it’s exploring strategic alternatives, including a possible sale.

Nexstar, based in Irving, Texas, hasn’t turned a profit in at least 12 years, losing almost $100 million in 2002 and $78 million in 2008, when the recession caused a drop in television advertising. It had total debt of $627 million on March 31, according to a company filing.