Nexstar Broadcasting, owner of KSNF in Joplin and KSFX in Springfield, and Mission Broadcasting, owner of KODE in Joplin and KOLR in Springfield, had a combined debt of $422 million as of March 31, according to a prospectus filed June 28 with the Securities and Exchange Commission.
In an area of the report reserved for possible risks the companies faces, Nexstar officials said, "We and Mission have a history of net losses and a substantial accumulated deficit.
We had consolidated net losses of $20.5 million, $71.8 million and $99.1 million for the years ended December 31, 2004, 2003 and 2002. In addition, as of March 31, 2005, we and Mission had a combined accumulated deficit of $422.8 million. We and Mission may not be able to achieve or maintain profitability."