Sale of Vermont TV stations FOX and WVNY completed for $16.9 million

first_imgNexstar Broadcasting Group, Inc. (Nasdaq: NXST) and Mission Broadcasting, Inc announced Monday that they completed the previously announced accretive acquisition of the assets of WFFF-TV (FOX) and WVNY (ABC) serving the Burlington, Vermont, market from Smith Media, LLC and affiliates for a total of $16.9 million. Concurrent with the closing of the station acquisitions, Nexstar and Mission entered into a local services agreement whereby Nexstar is providing sales and other services to WVNY.When the acquistion was announced last November, Nexstar spokesperson Joe Jaffoni told Vermont Business Magazine that Nexstar has a reputation of understanding community broadcasting, through its coverage of things like local news, community events and high school sports. He said viewers will see more hours of local programming per week overall.”They really understand local programming,” he said. The two stations will continue to operate separately but share services. WFFF and WVNY share the local news broadcast, for instance. “The market is probably going to benefit from stronger, deeper, local news coverage,” Jaffoni said.Perry A. Sook, Chairman, President and Chief Executive Officer of Nexstar Broadcasting Group, Inc, said in a statement Monday that, ‘ This transaction is consistent with our acquisition criteria as it further diversifies our operations, expands our scale, creates another new duopoly market and is financially accretive. Since mid-2012, Nexstar has expanded to 72 from 55 the number of television stations that it owns, operates or provides services to and in doing so, we’ ve grown our duopoly markets to 26 from 20. The eighteen recently acquired stations will be additive to our operating results throughout 2013 and we continue to evaluate additional station acquisition opportunities that will allow the Company to leverage its intellectual capital and operating management disciplines.’Waller Capital served as the exclusive financial advisor to Smith Media, LLC.About Nexstar Broadcasting Group, Inc.Nexstar Broadcasting Group is a leading diversified media company that leverages localism to bring new services and value to consumers and advertisers through its traditional media, e-MEDIA, digital and mobile media platforms. Nexstar owns, operates, programs or provides sales and other services to 72 television stations and 15 related digital multicast signals reaching 41 markets or approximately 12.1% of all U.S. television households. Nexstar’ s portfolio includes affiliates of NBC, CBS, ABC, FOX, MyNetworkTV, The CW, Telemundo, and Bounce TV, the nation’ s first over-the-air broadcast television network programmed for African-American audiences and two independent stations. Nexstar’ s 41 community portal websites offer additional hyper-local content and verticals for consumers and advertisers, allowing audiences to choose where, when and how they access content while creating new revenue opportunities.IRVING, Texas & BURLINGTON, Vt.–(BUSINESS WIRE)–3.4.2013last_img read more

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Florida tight end McGee eager for 6th and final season

first_imgGAINESVILLE, Fla. (AP) — Florida tight end Jake McGee is getting ready for yet another collegiate season opener.His sixth, to be exact — with four head coaches, four offenses and two schools.This one is his most anticipated yet. And there’s little doubt it will be better than the last.McGee broke two bones in his left leg in last year’s opener — he played just nine snaps — and missed the entire season. It was a significant setback for McGee, who hoped to jump to the NFL, and for the Gators, who expected the versatile pass-catcher to feature prominently in their offense.Now, they both get to try it again.“I feel great. I’m excited,” McGee said. “I’ve been patient with it. They’ve done great with me. I shouldn’t be able to notice a thing this fall.”The Gators are counting on noticeable things from McGee, a 6-foot-6, 250-pound end who has the size, speed and athleticism to pose matchup problems in the passing game. New coach Jim McElwain expects him to be one of the team’s top playmakers, along with running back Kelvin Taylor and receivers Demarcus Robinson and Brandon Powell.“He’s a guy that’s really been accepted by his teammates,” McElwain said. “Having him back is huge at that position especially. We like to use tight ends. Tight ends really need to be able to function in a lot of different roles with the shifts and motions and things we do with them. He’s a guy who will be able to handle that. He’s a guy who’s done a great job leading his group.”McGee turns 24 next month, so it’s somewhat natural that he would take on a leadership role. After all, he’s experienced pretty much everything.He has played for coaches Al Groh, Mike London, Will Muschamp and McElwain, worked in a spread offense and a pro-style system, and already has one degree and is closing in on a master’s in sports management.“I think they did it on purpose the way they set it up with the other tight ends here,” he said. “I’ve got like six freshmen here. They got me feeling a little older. They’re just getting out of high school and I’m over here on my second degree. They are talking about mandatory classes and I’m just laughing. It’s the same stuff I worried about, five, six years ago.”McGee had plenty to worry about last season.Taking advantage of an NCAA rule that allows graduate students who have a fourth year of eligibility remaining to transfer and play right away, McGee left Virginia for Florida last summer. McGee led the Cavaliers with 43 receptions for 395 yards in 2013, and the Gators were hoping for even better numbers in an offense that lacked difference-makers.But McGee injured his leg in the second quarter of Florida’s opener against Eastern Michigan. McGee knew it was serious, especially when trainers wrapped his leg in an air cast and rushed him to the hospital. He had surgery later that night, a titanium rod inserted in his lower leg and attached with six screws.“At first you’re really bummed, but you only make it harder on yourself if you get down and don’t have a good attitude,” McGee said. “It just makes the whole process even (tougher). I’m a pretty positive person, so it was just easy to keep going and support the team and do whatever I could do to help everyone else.“You’ve got to live with it and keep going.”McGee spent the rest of the year waiting for his leg to heal and wondering if the NCAA would grant him a sixth year of eligibility. He wrote a letter to the sanctioning body and pointed out the unique timing of his injury — it was his first game in a Florida uniform.After several nervous months, the NCAA granted McGee’s request in January. McGee believes he may have petitioned the NCAA at the perfect time, as it was trying to do more for student-athletes and working to pass a financial stipend to cover the full cost of attendance.Regardless of the rationale, he’s back now and eager for another season opener. The Gators host New Mexico State on Sept. 5.“I’m as excited for this season as I’ve ever been for a season,” McGee said.last_img read more

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