Nexstar has announced it has entered into a definitive agreement to buy the assets of Internet Broadcasting Systems, Inc. for $20 million.
In its press release about the acquisition, Nexstar calls IB, “A pioneer of innovative technology and services for the broadcast media industry.”
“We envision our clients transforming their broadcast media businesses into digital brands powered by compelling, dynamic, frequently updated news, information and entertainment content,” IB says about itself on the company website. “We envision our clients creating deeply personal connections with their audience by way of websites, mobile devices, social media and special-purpose applications.”
IB’s clients include Hearst Television and Post-Newsweek Stations.
“Consistent with our long-term strategic objective to identify and execute accretive transactions that build our revenue, scale and operating base,” Perry Sook, Nexstar chairman, president and CEO, said in a statement. “Nexstar intends to continue to focus on digital investments that allow us to further expand the Company’s overall digital media business portfolio, capitalize on emerging market trends to maximize multi-platform audiences and revenue opportunities.”