They've struck again...any thoughts

[<Deathstar>]

FOR IMMEDIATE RELEASE

NEXSTAR BROADCASTING GROUP TO ACQUIRE QUORUM BROADCASTING
Irving, TX (September 12, 2003) Nexstar Broadcasting Group announced today that it has reached a definitive agreement to acquire Quorum Broadcasting. The purchase price was not disclosed. Quorum, based in Franklin, TN owns television stations in ten markets, and has local service agreements in four of its markets with stations owned by either Mission Broadcasting of Amarillo or VHR Broadcasting. Quorum has previously announced the sale of WTVW-TV Evansville, IN to GNS Media, which is expected to close in the fourth quarter of this year.
In commenting on the acquisition, Nexstar President and Chief Executive Officer Perry A. Sook said, "This is an important and strategic acquisition for our company. Pro-forma for the acquisition, Nexstar will own, operate or provide services to a total of 40 television stations in 25 markets. This deal is an exciting next step towards our goal of becoming the leading television station operator serving medium and smaller television markets. We will increase our presence in the states of New York, Indiana, Illinois, Missouri, Louisiana and Texas, adding to our existing operating clusters. We are eager to build on the existing foundation created by Dan Sullivan and his team."
The transaction is subject to regulatory approval and is expected to close in the fourth quarter of this year. Nexstar Broadcasting Group is based in Irving, Texas and currently owns, operates or provides services to 25 television stations in 16 markets. A complete listing of the Company’s television operations, including the stations to be acquired, is attached.
For more information contact:
Perry A. Sook
President/CEO
or
Bob Thompson
Executive VP/CFO
(972)373-8800


Nexstar Broadcasting Group, Inc.
909 Lake Carolyn Parkway, Suite 1450, Irving, TX 75039 (972) 373-8800 fax (972) 373-8888

DMA Market Station Call Letters Channel # Affiliation Status

8 Washington, DC-Hagerstown, MD WHAG-TV 25 NBC Owned*

53 Wilkes Barre-Scranton, PA WBRE-TV 28 NBC Owned
WYOU-TV 22 CBS SSA

56 Little Rock-Pinebluff, AR KARK-TV 4 NBC Owned

73 Springfield, MO KOLR-TV 10 CBS SSA & JSA*
KDEB-TV 27 Fox Owned*

77 Rochester, NY WROC-TV 8 CBS Owned

81 Shreveport, LA KTAL-TV 6 NBC Owned

82 Champaign-Springfield- WCIA-TV 3 CBS Owned
Decatur, IL WCFN-TV 49 UPN Owned

104 Ft. Wayne, IN WFFT-TV 55 Fox Owned*

117 Peoria-Bloomington, IL WMBD-TV 31 CBS Owned
WYZZ-TV 43 Fox JOA

129 Amarillo, TX KAMR-TV 4 NBC Owned*
KCIT-TV 14 Fox SSA & JSA*
KCPN-LP 65 Ind. SSA & JSA*

133 Monroe, LA-El Dorado, AR KARD-TV 14 Fox Owned*

135 Rockford, IL WQRF-TV 39 Fox Owned*

137 Beaumont-Port Arthur, TX KBTV-TV 4 NBC Owned

142 Wichita Falls, TX-Lawton, OK KFDX-TV 3 NBC Owned
KJTL-TV 18 Fox SSA & JSA
KJBO-LP 35 UPN SSA & JSA

143 Erie, PA WJET-TV 24 ABC Owned
WFXP-TV 66 Fox TBA

145 Joplin, MO-Pittsburg, KS KSNF-TV 16 NBC Owned
KODE-TV 12 ABC SSA

146 Terre Haute, IN WTWO-TV 2 NBC Owned
WBAK-TV 38 Fox SSA & JSA**

147 Lubbock, TX KLBK-TV 13 CBS Owned*
KAMC-TV 28 ABC SSA & JSA*

158 Odessa-Midland, TX KMID-TV 2 ABC Owned

163 Abilene-Sweetwater, TX KTAB-TV 32 CBS Owned
KRBC-TV 9 NBC SSA

167 Utica, NY WFXV-TV 33 Fox Owned*
WPNY-LP 11 UPN Owned*

170 Billings, MT KSVI-TV 6 ABC Owned*
KHMT-TV 4 Fox TBA*

171 Dothan, AL WDHN-TV 18 ABC Owned

193 St. Joseph, MO KQTV-TV 2 ABC Owned

196 San Angelo, TX KACB-TV 3 NBC SSA
* Acquisition pending by Nexstar or Mission from Quorum Broadcasting, Mission of Amarillo and VHR Broadcasting
** Acquisition pending by Mission from Bahakel Communications

[<whocares>]

wow those are some BIGTIME markets...oncwe again...who cares!

[<jon>]

is Little Rock the only Nexstar station in Arkansas?

[Lense_Cap]

Originally posted by &lt;whocares&gt;:
wow those are some BIGTIME markets...oncwe again...who cares! uhhh... i care... and thanks for the post. I wouldn't have known otherwise since I moved up from market 78 a while back. I think people who come on here and say stuff like "who cares" set themselves up for a good flame. So with that in mind... get over yourself. Just because you are probably sitting comfertable in your large market, don't come down on the guys and gals still busting their humps in the smaller places. This is a big deal that affects a lot of people... one of which is a personal aquaintance of mine who was fired when the new management came in. If it's insignificant to you... why post anything at all... just ignore it and go on. Thanks.

[<deathstarsucks>]

Originally posted by Lense_Cap:
quote: Originally posted by &lt;whocares&gt;:
wow those are some BIGTIME markets...oncwe again...who cares! uhhh... i care... and thanks for the post. I wouldn't have known otherwise since I moved up from market 78 a while back. I think people who come on here and say stuff like "who cares" set themselves up for a good flame. So with that in mind... get over yourself. Just because you are probably sitting comfertable in your large market, don't come down on the guys and gals still busting their humps in the smaller places. This is a big deal that affects a lot of people... one of which is a personal aquaintance of mine who was fired when the new management came in. If it's insignificant to you... why post anything at all... just ignore it and go on. Thanks. well said lense. well said.

[G_Roll]

I think they are about to buy 24/51 Arkansas' NBC in Fayetteville/Fort Smith.

[<JET Spot>]

Be afraid of Nexstar. Be VERY afraid of nexstar. They purchased the station I work for (WJET) several years ago and came in and blew through the place like a tornado. If I can only share one thing with you it is this....it is their way or the highway. Time for all those unlucky SOB's to start looking for other stations to work at. It just isn't worth it to work for them.

[Lense_Cap]

wow... it sounds to me like they are trying to be the next clear channel or something. The winds of change are blowing stronger... I hate feeling like their is a monster breathing down my neck.

[<whocares>]

just as long as they stay out of the Quad cities, and Hooterville, oh and Mayberry.

[Cambot Mk. II]

Perry Sook, Nexstar's CEO, was at our station last winter. He said the trend in this industry is consolidation and he'd rather acquire than be acquired. Now that the ownership rules have been relaxed, he's in the process of bringing all the stations he has a joint operating agreement with under the Nexstar umbrella. This latest acquisition comes as no surprise because it falls in line with his business philosophy- eat or be eaten.

My main concern is what he plans to do with photojournalists once we go fully digital. The rumors are that we'll all be on PD-150 gear within a year or two and that photogs may be phased out in favor of one-man-bands. I personally don't see us going completely that way but the concern is there.

Nexstar Photogs- what are your thoughts?

[sneakybastard]

Glad I'm getting out. The sht is about to hit the fan at our station. Numerous layoffs are coming, budget cuts have been happening, no equipment repairs...its getting real bad, especially since Nexstar announced plans to buy our Quorum station. Personally, I'm scared for the people who will still be here next month. I'll have a revalation about this in the uncensored forum within the next few days. I'm just curious to see how many positions are going to be eliminated...I'm guessing about 25%, but that's just a guess.

[Lense_Cap]

Originally posted by &lt;whocares&gt;:
just as long as they stay out of the Quad cities, and Hooterville, oh and Mayberry. You should care... if you had any foresight whatsoever this message would bother you...
I don't care if it is a rumor. If this company decided to phase out photojournalists in favor of one man bands and is even the slightest bit successful you can bet the other big companies are going to start thinking about it. So get ready to care, this isn't the only company that thinks this way.

[<Jax>]

Originally posted by Lense_Cap:
it sounds to me like they are trying to be the next clear channel or something.The next Clear Channel? I work for Clear Channel, and while their health benifits suck, they have dumped a truckload of money into my station this past year.

New gear, a 2nd SNG, Apple Ibooks loaded with FCP for all photogs, anything I have asked for, I have got. I called my chief recently "can I have a Chimera?" He didn't laugh, and I had one on my desk 4 days later.

They have killed radio, but I've got the best gear in town, so why should I care?

[Lense_Cap]

wow. well right on bro... I was only going on everything else i have heard. I've never worked for them but everyone that does in this market calls then "cheap channel". My information is only as good as my sources... so my appologies.

[Lense_Cap]

Originally posted by Lense_Cap:
wow. well right on bro... I was only going on everything else i have heard. I've never worked for them but everyone that does in this market calls then "cheap channel". My information is only as good as my sources... so my appologies. I might add that by saying that i really meant to compare their efforts to aquire everything and anything they can in broadcast communication with that of nextar. I never intended to make this a clear channell flaming thread.

[Tim78]

I'm a photog at WCIA...our cameras and gear are falling apart and Nexstar hasn't done anything to remedy the problem yet. We were promised new cameras next year, so hopefully it will happen. But then again, they bought a ton of stations, so we'll never see the money that we make for Nexstar. We're one of the few, or maybe the only one in the Nexstar group that's ranked #1 in it's market.

I've heard the PD-150 idea has been nixed because it doesn't stand up to the rigors of professional shooting. THANK GOD...I'll quit before I shoot with one of those.

Tim

[<Frezzi24>]

I work at WJET Erie PA. Nexstar has poured a lot of money into our station since purchasing us. DVCPro gear, 2 new live trucks, part ownership of SNG and ALL, that's right, ALL of our newscasts are Number 1! We are blowing all the other stations in our market out of the water. So make of it what you want. Nexstar can be good to some stations I guess.