Nexstar to use revolver borrowings to help fund acquisition of LKQD

By Sarah Lizee

Olympia, Wash., Dec. 7 – Nexstar Media Group, Inc. plans to use borrowings under its revolving credit facility to help fund its acquisition of LKQD Technologies, according to a press release.

The transaction, which will be for about $90 million cash, will also be financed with cash generated from operations.

Nexstar said the acquisition is expected to be immediately accretive to its operating results and free cash flow and does not materially alter the company’s leverage position.

The transaction is expected to close late in 2017 or the first quarter of 2018.

Nexstar is an Irving, Texas-based diversified media company. LKQD is a Foothill Ranch, Calif.-based video advertising infrastructure company.

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