Sale of Nexstar Stations Possible as Company Explores ‘Strategic Alternatives’

By Merrill Knox Comment

Nexstar Broadcasting said today in a statement that they have decided to “explore and evaluate strategic alternatives intended to maximize shareholder value, including a possible sale of the Company.”

Such a sale would put Nexstar-owned stations — 65 of them across 36 markets nationwide — up for sale. Nexstar has been locked in a lengthy battle with Fox over retransmission fees that has resulted in the loss of Fox affiliations of Nexstar-owned stations in several markets.

Nexstar said they have not made a decision to pursue a specific transaction, and they are operating under no specific time frame. “There can be no assurance that the exploration of strategic alternatives will result in a sale of the company or any other transaction,” the statement read.