Nexstar Broadcasting Group, one of the more aggressive TV-station groups seeking retransmission-consent cash from cable operators, has taken the “for-sale” sign off its door, citing “difficult conditions in the financing markets.”
In a prepared statement Friday, Nexstar said that because of the difficult financing environment, its board of directors and financial adviser Goldman Sachs “decided to suspend discussions with prospective acquirers of the company. The company does not intend to comment further publicly with respect to the review process.”
Nexstar put itself on the block in May when it hired Goldman to explore strategic alternatives including a sale.
Irving, Texas-based Nexstar, which owns about 49 television stations in 29 markets, had been one of the more aggressive broadcasters in search of retrans cash. In 2005 the broadcaster was engaged in heated disputes with Cox Communications and Cable One -- it pulled its stations off those cable systems in selected markets -- which were both settled later that year.