The corporate parent of two Arkansas NBC affiliates, KARK-TV, Channel 4 in Little Rock and KNWA-TV, Channel 24, said Thursday that it is exploring “strategic alternatives,” which could include a sale of the company.
from Nexstar Broadcasting Group Inc. of Irving, Texas, said its board of directors “has decided to explore and evaluate strategic alternatives intended to maximize shareholder value, including a possible sale of the company. The company has retained Moelis & Company as its financial advisor and Kirkland & Ellis LLP as its legal counsel.”
The statement also said the publicly traded company hasn’t made a decision to pursue “any specific strategic transaction or other strategic alternative.”
Nexstar has 65 television stations in 36 markets in 16 states. In addition to KARK and KNWA, Nexstar also has KARZ-TV of Little Rock, a MyNetworkTV affiliate, and KFTA-TV of Springdale, a Fox affiliate, in Arkansas.
, of Dothan, Ala., in January 2003 from Morris Newspaper Corp. of Savannah, Ga., for $90 million. Later that year, and in 2004 .
The television industry website over retransmission fees, resulting in the loss of Fox affiliations of Nexstar-owned stations in several markets.
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