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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Human Horizons Launches the First Car Equipped with 5G V2X Technology

first_imgHiPhi, a subsidiary brand of Human Horizons, announced that its HiPhi 1 will be the first production car in the world to be equipped with 5G technology from telecommunications company China Telecom. Human Horizons is an innovative technology company committed to future intelligent mobility. Its human oriented 3-Smart strategy is initiated from human needs and based on human intelligence. As part of the 3-Smart Strategy they plan to support Smart Vehicles, Smart Transportation and Smart Cities.HiPhi 1 will introduce the world’s first Human Oriented Architecture (HOA), which is self-adaptive and learning to create diversified solutions that will enhance the user experience. Its neural network consists of 4 super brain domain controllers and 6 MPU’s (Micro Processing Unit), connected by 1G Ethernet providing a higher communication rate than traditional CAN networks. The vehicle is able to analyze massive amounts of information and make decisions, utilizing cloud computing with a powerful data analysis engine, to build a truly intelligent and smart vehicle.HiPhi 1 has outstanding capability to connect between cars, roads and cities. It has more than five hundred sensors, and will be the first production car with a 5G-V2X enabled communication network. This will be the first car to support the 5G in-vehicle mobile network service.Human Horizons were invited to a cloud-hosted signing ceremony at the IoT Industry Alliance (a subsidiary of China Telecom) press conference, which had the theme of new IoT infrastructure. The alliance with China Telecom, one of China’s three major telecommunication providers, is the first of its kind and aims to further accelerate the commercialization of 5G in the automotive and mobility industries. Human Horizons and China Telecom will work together to carry out 5G technology research and implementation in the areas of smart cars, smart transportation and smart cities.HiPhi 1  is now entering approaching final production which is expected to start by the end of this year, with official deliveries in 2021.Click here to read more about HiPhi 1.last_img read more

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Obodai signs for Dynamo in MLS

first_imgGhana international Anthony Obodai has been signed by Major League Soccer side, Houston Dynamo.The 27-year-old midfielder who was playing for RKC Waalwijk in the Netherlands, becomes the club’s first designated player with his signing contingent on the arrival of his international transfer certificate.Obodai spent two weeks with the Dynamo in June, starting in two exhibition matches.Source: Ghanafa.orglast_img

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Richest football clubs in the world – top 20 in the Money League revealed

first_img 20 20 Football’s Money League has been revealed and it makes good reading for the Premier League’s bean counters.Five of England’s elite feature in the top 10, with nine in the top 20, as compiled by audit firm Deloitte.But which club is number one? Find out, as we count down the top 20, above. 20 20 9. Liverpool – €391.8m in revenue for 2014/15 14. AC Milan – €199.1m in revenue for 2014/15 20 17. Newcastle United – €169.3m in revenue for 2014/15 11. Borussia Dortmund – €280.6m in revenue for 2014/15 20 20 4. Paris Saint-Germain – €480.8m in revenue for 2014/15 12. Tottenham – €257.5m in revenue for 2014/15 18. Everton – €165.1m in revenue for 2014/15 20 20 20. West Ham United – €160.9m in revenue for 2014/15. Find out which clubs make up the top 20, just click the arrow above 6. Manchester City – €463.5m in revenue for 2014/15 20 3. Manchester United – €519.5m in revenue for 2014/15 20 10. Juventus – €323.9m in revenue for 2014/15 20 20 20 20 15. Atletico Madrid – €187.1m in revenue for 2014/15 13. Schalke – €219.7m in revenue for 2014/15 20 16. Roma – €180.4m in revenue for 2014/15 8. Chelsea – €420m in revenue for 2014/15 2. Barcelona – €560.8m in revenue for 2014/15 5. Bayern Munich – €474m in revenue for 2014/15 19. Inter Milan – €164.8m in revenue for 2014/15 20 20 20 7. Arsenal – €435.5m in revenue for 2014/15 20 1. Real Madrid – €577m in revenue for 2014/15last_img read more

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Former Indian Skipper Sunil Gavaskar backed KL Rahul to solve India’s No.4 conundrum

first_imgAdvertisementAs Indian Premier League is progressing, the Indian cricket fans are equally excited about the ICC World Cup 2019 which will be played in England and Wales from 30th May 2019.This IPL will also play an important role in the world cup squad, as the player performing better might even be selected for the upcoming world cup. So the pressure is on the players to perform during the cash-rich T20 league.The one most deserving candidate for the spot is K.L Rahul, who has earlier said that is ready to be India’s No. 4, and now former Indian skipper Sunil Gavaskar has backed Rahul to solve India’s No. 4 conundrum. He also said that KL Rahul’s terrific performance in the IPL put him ahead of Ambati Rayudu who he said had lost his form in the ongoing Indian Premier League.“Look, who bats at no.4 will be a matter of debate. And this is where IPL form will be considered because that’s current form. Ambati Rayudu was spoken about when the season started but has lost form sharply and someone like KL Rahul could be chosen for no.4,” Gavaskar told India Today.“He has played at no.4 in the past. But for some reason, he was confused in the past year and a half or so. But we have seen him bat with a lot of focus and concentration in the IPL.“And I don’t think it’s so much a problem for an opener to switch to middle order as opposed to a middle order player to bat in the opening position,” Gavaskar added.Do you guys agree with Sunil Gavaskar?ALSO READ:Indian swimmer Kushagra Rawat takes a giant leap in Olympics and World Championship Qualifiers Advertisementlast_img read more

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