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Acquisitions and Dispositions (Tables)
12 Months Ended
Dec. 31, 2016
Business Acquisition [Line Items]  
Unaudited Pro forma Information

 

The following unaudited pro forma information has been presented for the periods indicated as if the acquisition of CCA and the related consolidation of VIEs had occurred on January 1, 2014, and the acquisitions of IBS and Grant and the related consolidation of a VIE had occurred on January 1, 2013 (in thousands, except per share data):

 

 

2015

 

 

2014

 

Net revenue

 

$

896,377

 

 

$

789,406

 

Income before income taxes

 

 

130,477

 

 

 

137,005

 

Net income

 

 

79,686

 

 

 

78,252

 

Net income attributable to Nexstar

 

 

79,746

 

 

 

74,899

 

Net income per common share attributable to Nexstar - basic

 

 

2.56

 

 

 

2.43

 

Net income per common share attributable to Nexstar - diluted

 

 

2.48

 

 

 

2.34

 

 

WVMH [Member]  
Business Acquisition [Line Items]  
Schedule of Assets Acquired and Liabilities Assumed

Subject to final determination, which is expected to occur within twelve months of the acquisition date, the provisional fair values of the assets acquired and liabilities assumed in the first closing are as follows (in thousands):

 

Accounts receivable

 

$

438

 

Prepaid expenses and other current assets

 

 

114

 

Property and equipment

 

 

18,362

 

Other intangible assets

 

 

3,402

 

Goodwill

 

 

35

 

Total assets acquired at first closing

 

 

22,351

 

Less: Accounts payable and accrued expenses

 

 

(623

)

Less: Other noncurrent liabilities

 

 

(307

)

Net assets acquired at first closing

 

 

21,421

 

Deposit on second closing

 

 

43,543

 

Total paid at first closing

 

$

64,964

 

 

WVMH [Member] | Consolidated VIEs [Member]  
Business Acquisition [Line Items]  
Schedule of Assets Acquired and Liabilities Assumed

Subject to final determination, which is expected to occur within twelve months from August 2, 2016, the provisional fair values of the remaining assets and liabilities consolidated are as follows (in thousands):

 

Broadcast rights

 

$

527

 

Property and equipment

 

 

3,489

 

FCC licenses

 

 

41,230

 

Network affiliation agreements

 

 

35,387

 

Goodwill

 

 

28,588

 

Consolidated assets of VIEs

 

 

109,221

 

Less: Broadcast rights payable

 

 

(527

)

Consolidated net asset of VIEs

 

$

108,694

 

 

Reiten [Member]  
Business Acquisition [Line Items]  
Schedule of Assets Acquired and Liabilities Assumed

The fair values of the assets acquired and liabilities assumed in the acquisition are as follows (in thousands):

 

Broadcast rights

 

$

13

 

Property and equipment

 

 

8,139

 

FCC licenses

 

 

9,779

 

Network affiliation agreements

 

 

16,084

 

Other intangible assets

 

 

2,073

 

Goodwill

 

 

7,931

 

Total assets acquired

 

 

44,019

 

Less: Broadcast rights payable

 

 

(13

)

Less: Accounts payable and accrued expenses

 

 

(8

)

Net assets acquired

 

$

43,998

 

 

KCWI [Member]  
Business Acquisition [Line Items]  
Schedule of Assets Acquired and Liabilities Assumed

Subject to final determination, which is expected to occur within twelve months of the acquisition date, the provisional fair values of the assets acquired and liabilities assumed in the acquisition are as follows (in thousands):

 

Accounts receivable

 

$

396

 

Broadcast rights

 

 

1,740

 

Prepaid expenses and other current assets

 

 

40

 

Property and equipment

 

 

1,076

 

FCC licenses

 

 

2,180

 

Other intangible assets

 

 

2

 

Goodwill

 

 

350

 

Total assets acquired

 

 

5,784

 

Less: Broadcast rights payable

 

 

(1,886

)

Less: Accrued expenses

 

 

(17

)

Net assets acquired

 

$

3,881

 

 

CCA [Member]  
Business Acquisition [Line Items]  
Schedule of Assets Acquired and Liabilities Assumed

The fair values of the assets acquired and liabilities assumed in the CCA acquisition (net of the effects of the sale of WEVV to BCB), including the consolidation of the assets and liabilities of White Knight, KPEJ and KMSS, are as follows (in thousands):

 

Cash

 

$

2,323

 

Accounts receivable

 

 

19,975

 

Broadcast rights

 

 

10,233

 

Deferred tax assets

 

 

247

 

Prepaid expenses and other current assets

 

 

257

 

Property and equipment

 

 

26,012

 

FCC licenses

 

 

71,465

 

Network affiliation agreements

 

 

86,219

 

Other intangible assets

 

 

7,818

 

Goodwill

 

 

120,370

 

Other assets

 

 

59

 

Total assets acquired and consolidated

 

 

344,978

 

Less: Broadcast rights payable

 

 

(10,467

)

Less: Accounts payable and accrued expenses

 

 

(4,703

)

Less: Taxes payable

 

 

(18,613

)

Less: Other current liabilities

 

 

(336

)

Less: Deferred tax liabilities

 

 

(57,022

)

Less: Other noncurrent liabilities

 

 

(221

)

Less: Noncontrolling interest in a consolidated VIE

 

 

(2,900

)

Net assets acquired and consolidated

 

$

250,716

 

 

KASW [Member]  
Business Acquisition [Line Items]  
Schedule of Assets Acquired and Liabilities Assumed

The fair values of the assets acquired and liabilities assumed in the acquisition are as follows (in thousands):

 

Accounts receivable

 

$

3,544

 

Broadcast rights

 

 

8,771

 

Prepaid expenses and other current assets

 

 

24

 

Property and equipment

 

 

987

 

FCC licenses

 

 

35,566

 

Other intangible assets

 

 

713

 

Goodwill

 

 

32,203

 

Total assets acquired

 

 

81,808

 

Less: Broadcast rights payable

 

 

(10,291

)

Less: Accounts payable and accrued expenses

 

 

(739

)

Net assets acquired

 

$

70,778

 

 

Yashi [Member]  
Business Acquisition [Line Items]  
Schedule of Assets Acquired and Liabilities Assumed

The fair values of the assets acquired and liabilities assumed in the acquisition are as follows (in thousands):

 

Cash

 

$

1,470

 

Accounts receivable

 

 

6,788

 

Property and equipment

 

 

114

 

Developed technology and other intangible assets

 

 

18,348

 

Goodwill

 

 

21,353

 

Other assets

 

 

15

 

Total assets acquired

 

 

48,088

 

Less: Accounts payable and accrued expenses

 

 

(7,641

)

Less: Taxes payable

 

 

(108

)

Less: Deferred tax liabilities

 

 

(6,985

)

Net assets acquired

 

$

33,354

 

 

KLAS [ Member]  
Business Acquisition [Line Items]  
Schedule of Assets Acquired and Liabilities Assumed

The fair values of the assets acquired and liabilities assumed in the acquisition are as follows (in thousands):

 

Cash

 

$

18

 

Accounts receivable

 

 

6,654

 

Broadcast rights

 

 

58

 

Prepaid expenses and other current assets

 

 

438

 

Property and equipment

 

 

19,238

 

FCC licenses

 

 

60,627

 

Network affiliation agreements

 

 

49,520

 

Goodwill

 

 

15,520

 

Total assets acquired

 

 

152,073

 

Less: Broadcast rights payable

 

 

(58

)

Less: Accounts payable and accrued expenses

 

 

(1,051

)

Less: Other current liabilities

 

 

(201

)

Net assets acquired

 

$

150,763

 

 

Kixer [Member]  
Business Acquisition [Line Items]  
Schedule of Assets Acquired and Liabilities Assumed

 


The estimated fair values of the assets acquired and liabilities assumed in the acquisition are as follows (in thousands):

 

Cash

 

$

251

 

Accounts receivable

 

 

978

 

Prepaid expenses and other current assets

 

 

4

 

Property and equipment

 

 

19

 

Developed technology and other intangible assets

 

 

6,089

 

Goodwill

 

 

6,958

 

Total assets acquired

 

 

14,299

 

Less: Accounts payable and accrued expenses

 

 

(735

)

Less: Deferred tax liabilities

 

 

(2,109

)

Net assets acquired

 

$

11,455