Company Overview of Nexstar Broadcasting, Inc.
Nexstar Broadcasting, Inc. acquires, develops, and operates television stations in the United States. The company owns and operates television stations, comprising NBC-affiliated television stations, ABC-affiliated television stations, CBS-affiliated television stations, Fox-affiliated television stations, and UPN-affiliated television stations. It has operations in New York, Pennsylvania, Illinois, Indiana, Missouri, Texas, Louisiana, Arkansas, Alabama, Montana, and Maryland. Nexstar Broadcasting, Inc. was formerly known as Nexstar Finance, Inc. and changed its name to Nexstar Broadcasting, Inc. in December 2003. The company was founded in 2000 and is based in Irving, Texas. As of June 30, ...
909 Lake Carolyn Parkway
Irving, TX 75039
Founded in 2000
Key Executives for Nexstar Broadcasting, Inc.
Founder, Executive Chairman, CEO & President
Co-Chief Operating Officer of Nexstar Broadcasting Group
Director of Mktg - KWTV Oklahoma City and VP of Mktg and Promotions -Nexstar Broadcasting Group
Co-Chief Operating Officer
Compensation as of Fiscal Year 2017.
Nexstar Broadcasting, Inc. Key Developments
Nexstar Broadcasting, Inc. Enters into Credit Agreement
Jan 17 17
Nexstar Broadcasting, Inc., a wholly-owned subsidiary of the Nexstar Media Group, Inc. entered into a credit agreement, dated as of January 17, 2017, by and among the company, as a holding company, NBI, as the borrower, Bank of America, N.A., as the administrative agent, the collateral agent, a letter of credit issuer and the swing line lender, and the financial institutions from time to time party thereto (the Credit Agreement), pursuant to which NBI will have a term A loan facility in an aggregate principal amount of $293,900,000 million, a term B loan facility in an aggregate principal amount of $2,518,000,000 million and a revolving facility in an available aggregate principal amount of $169,000,000 million. The proceeds of the term facilities will be used to pay the cash consideration to former Medi a General stockholders under the Merger Agreement, to refinance existing indebtedness of NBI and Media General and to pay transaction expenses. Term A loans and revolving loans drawn under the revolving facility accrue interest at a rate equal to LIBOR plus 2.50% if the Company's first lien leverage ratio is greater than 2.50:1.00, with further step-downs to LIBOR plus 2.25% and LIBOR plus 2.00% if the Company's first lien leverage ratio is less than 2.50:1.00 and less than 1.50:1.00, respectively. Commitment fees accrue at the rate of 0.50% per annum with a step-down to 0.375% per annum if the company's first lien leverage ratio is less than 2.50:1.00. The term B facility carries an interest rate of LIBOR plus 3.00%. A 0% LIBOR floor applies to the revolving facility and the term facilities. The revolving facility and the term A facility mature five years after the Closing Date and the term B facility matures seven years after such date.
Nexstar Broadcasting, Inc. Prices $2.75 Billion Term Loan Facility at 99.75% of Face Value, Bear LIBOR Plus 3%
Sep 27 16
Nexstar Broadcasting Group announced that its wholly-owned subsidiary, Nexstar Broadcasting, Inc., priced a $2.75 billion term loan B facility. The facility will be issued at a price equal to 99.75% of its face value and will bear interest at LIBOR plus 3%, with a 0.0% LIBOR floor, and will have a seven-year maturity. Nexstar intends to use the net proceeds, along with the previously issued $900 million of 5.625% new senior notes due 2024, cash proceeds from the divestiture of certain assets and the issuance of new common stock to fund its proposed acquisition of Media General. It will also be used to repay existing Nexstar credit facilities, to repay, or make a change of control offer for, existing Media General indebtedness, and to pay other fees and expenses related to Nexstar's acquisition of Media General.
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