Nexstar Media Group, Inc. (Nasdaq: NXST) has announced that its board of directors approved an expansion of the company´s share repurchase authorization for up to an additional USD 200 million of repurchases of its Class A common stock, the company said.
The expansion brings the total capacity under Nexstar´s share repurchase program to approximately USD 252.4 million when combined with the approximate USD 52.4 million remaining under its prior authorization as of December 31, 2017.
As of December 31, 2017, Nexstar had approximately 46.0 million shares of Class A common stock outstanding (the only class of shares outstanding).
Repurchases by the company will be subject to available liquidity, general market and economic conditions, alternate uses for the capital and other factors.
Nexstar Media Group is a diversified media company that leverages localism to bring new services and value to consumers and advertisers through its traditional media, digital and mobile media platforms. Nexstar owns, operates, programs or provides sales and other services to 170 television stations and related digital multicast signals reaching 100 markets or approximately 39% of all US television households. Nexstar´s portfolio includes primary affiliates of NBC, CBS, ABC, FOX, MyNetworkTV and The CW. Nexstar´s 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. For more information visit www.nexstar.tv.