Alleged owner of KODE, KOLR files annual report

Mission Broadcasting, the purported owner of KODE in Joplin and KOLR in Springfield (both of which, to all intents and purposes are owned by Nexstar Broadcasting), filed its annual report today with the Securities and Exchange Commission.
The report includes such fascinating tidbits as this one:

The arrangements under the SSAs and JSAs have had the effect of Nexstar receiving substantially all of the available cash, after debt service costs, generated by the stations listed above. The arrangements under the TBAs have also had the effect of Nexstar receiving substantially all of the available cash generated by the TBA stations listed above. Mission anticipates that, through these local service agreements, Nexstar will continue to receive substantially all of Mission’s available cash, after payments for debt service costs, generated by the stations listed above.

It is obvious that Mission's only mission is to allow Nexstar to operate two stations in each of its markets. It remains to be seen what, if anything, the Federal Communications Commission will do about these arrangements.