Nexstar Broadcasting stock, which had taken a brief downturn after climbing to close to $15 per share, are moving upward again. In the June 14 Turner Report, it was noted that the stock closed trading at $13.32 per share, an increase of 48 cents.
On Tuesday, it continued to rebound, climbing 58 cents per share to close at $14.33.
Nexstar Broadcasting owns KSNF in Joplin and KSFX in Springfield and operates KODE in Joplin and KOLR in Springfield.
1 comment:
It is amazing what happens to the Stock Values of a Company when they announce they are up for sale to the private equity buyers of the World. They will sell quickly. Then the buyers will reduce operating expense by 20 - 30%. Then they will sell, spin it as it is known, for a similar multiple of cash flow that they bought it. Don't believe me, look at what happened to the Clear Channel stations Nexstar was out bid on. Where do you think they got the idea? Call someone in Fort Smith to see how many weeks it took for the 25% cuts to be demanded.
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