Nexstar Devises New Strategies For Local TV

NEXSTAR DEVISES NEW STRATEGIES FOR LOCAL TV
[SOURCE: Wall Street Journal, AUTHOR: Shira Ovide shira.ovide@dowjones.com]
After a long period in Wall Street's dog house, Nexstar Broadcasting Group Inc. and other local-TV companies are strutting like "Best in Show" winners. Stocks of Nexstar, Lin TV Corp., Young Broadcasting Inc. and Sinclair Broadcasting Group Inc. have climbed by 50% or more since last fall, as broadcasters squeeze cash from cable companies to carry the local stations on which Americans watch the majority of their television. Nexstar, the operator of 49 television stations in small markets such as Erie, Pa., and Lubbock, Texas, has gotten credit for leading the crusade over the so-called retransmission fees. The question for investors is whether shares have become overheated in the enthusiasm. Nexstar bulls say the market hasn't recognized Nexstar's other industry-leading positions: The company has pioneered the ownership of two television stations in the same market and has transformed its stations into TV-and-online machines.
http://online.wsj.com/article/SB117201060871314091.html?mod=todays_us_marketplace
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