Nexstar will likely be involved in $100 million...
Nexstar will likely be involved in $100 million worth of smaller mergers and acquisitions, and has the capacity to spend $500 million on M&A, said Wells Fargo analyst Marci Ryvicker in an email to investors. Nexstar’s capacity for M&A adds…
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“upside” to Nexstar, according to Wells Fargo’s evaluation of the company. Positives for Nexstar include its “capital returns, core ad growth, net retrans, and the balance sheet,” Wells Fargo said. Even if the company doesn’t engage in much M&A, “capital returns should grow,” Ryvicker said. An announcement of a federal plan to spend $500 million on broadcast announcements about the Affordable Care Act could indicate a boost for Nexstar in Q4, she said. “Since [Nexstar] captures around 2 percent of all political broadcast revenue, we believe NXST could get up to 2 percent of this [$500 million].”