The news that Nexstar Broadcasting bought a television station in Pennsylvania did not sit well with a Bear Stearns financial analyst.
According to Radio & Television Business Report, analyst Victor Miller said the purchase was "sending the wrong signal," since Nexstar CEO Perry Sook said several months ago the company plans to sell some of its stations, but has not followed through.
Miller has lowered his rating on Nexstar to "underperform," according to the article.
Nexstar owns KSNF in Joplin and KSFX in Springfield and manages KODE in Joplin and KOLR in Springfield, stations owned by Mission Broadcasting.
Nexstar's stock fell 41 cents yesterday, slipping below the $4 level for the first time at $3.99.