Nexstar Media (NXST) 10-Q9 May 142014 Q1 Quarterly reportFinancial data

Company Profile

Document_and_Entity_Informatio

Document and Entity Information	3 Months Ended
	Mar. 31, 2014	5-May-14	5-May-14
	Mar. 31, 2014	Common Class A [Member]	Common Class B [Member]
Entity Information [Line Items]	'	'	'
Entity Registrant Name	'NEXSTAR BROADCASTING GROUP INC	'	'
Entity Central Index Key	'0001142417	'	'
Current Fiscal Year End Date	'--12-31	'	'
Entity Well-known Seasoned Issuer	'No	'	'
Entity Voluntary Filers	'No	'	'
Entity Current Reporting Status	'Yes	'	'
Entity Filer Category	'Large Accelerated Filer	'	'
Entity Common Stock, Shares Outstanding	'	30,622,035	0
Document Fiscal Year Focus	'2014	'	'
Document Fiscal Period Focus	'Q1	'	'
Document Type	'10-Q	'	'
Amendment Flag	'false	'	'
Document Period End Date	31-Mar-14	'	'

CONDENSED_CONSOLIDATED_BALANCE

CONDENSED CONSOLIDATED BALANCE SHEETS (unaudited) (USD $)	Mar. 31, 2014	Dec. 31, 2013
In Thousands, unless otherwise specified	Mar. 31, 2014	Dec. 31, 2013
Current assets:	'	'
Cash and cash equivalents	$50,580	$40,028
Accounts receivable, net of allowance for doubtful accounts of $3,506 and $3,035, respectively	104,457	109,430
Deferred tax assets, net	38,585	38,585
Prepaid expenses and other current assets	10,907	13,123
Total current assets	204,529	201,166
Property and equipment, net	205,477	212,259
Goodwill	198,033	198,052
FCC licenses	247,457	222,757
FCC licenses of consolidated variable interest entities	41,563	66,263
Other intangible assets, net	156,342	162,535
Deferred tax assets, net	26,676	30,898
Other noncurrent assets, net	68,716	69,792
Total assets	1,148,793	1,163,722
Current liabilities:	'	'
Current portion of debt	6,174	6,857
Accounts payable	13,651	10,250
Accrued expenses	20,119	24,142
Interest payable	13,593	4,661
Amounts payable to sellers for acquisition of stations	0	22,000
Other current liabilities of consolidated variable interest entities	5,437	4,923
Other current liabilities	10,880	11,089
Total current liabilities	69,854	83,922
Debt	1,061,378	1,064,262
Other noncurrent liabilities of consolidated variable interest entities	7,479	8,080
Other noncurrent liabilities	18,524	20,689
Total liabilities	1,157,235	1,176,953
Commitments and contingencies	'	'
Stockholders' deficit:	'	'
Preferred stock	0	0
Common stock	306	306
Additional paid-in capital	394,253	396,817
Accumulated deficit	-403,001	-410,354
Total stockholders' deficit	-8,442	-13,231
Total liabilities and stockholders' deficit	1,148,793	1,163,722
Class A Common Stock [Member]	'	'
Stockholders' deficit:	'	'
Common stock	306	306
Class B Common Stock [Member]	'	'
Stockholders' deficit:	'	'
Common stock	0	0
Class C Common Stock [Member]	'	'
Stockholders' deficit:	'	'
Common stock	$0	$0

CONDENSED_CONSOLIDATED_BALANCE1

CONDENSED CONSOLIDATED BALANCE SHEETS (unaudited) (Parenthetical) (USD $)	Mar. 31, 2014	Dec. 31, 2013
In Thousands, except Share data, unless otherwise specified	Mar. 31, 2014	Dec. 31, 2013
Current assets:	'	'
Accounts receivable, allowance for doubtful accounts	$3,506	$3,035
Stockholders' deficit:	'	'
Preferred stock, par value (in dollars per share)	$0.01	$0.01
Preferred stock, shares authorized (in shares)	200,000	200,000
Preferred stock, shares issued (in shares)	0	0
Preferred stock, shares outstanding (in shares)	0	0
Class A Common Stock [Member]	'	'
Stockholders' deficit:	'	'
Common stock, par value (in dollars per share)	$0.01	$0.01
Common stock, shares authorized (in shares)	100,000,000	100,000,000
Common stock, shares issued (in shares)	30,622,035	30,598,535
Common stock, shares outstanding (in shares)	30,622,035	30,598,535
Class B Common Stock [Member]	'	'
Stockholders' deficit:	'	'
Common stock, par value (in dollars per share)	$0.01	$0.01
Common stock, shares authorized (in shares)	20,000,000	20,000,000
Common stock, shares issued (in shares)	0	0
Common stock, shares outstanding (in shares)	0	0
Class C Common Stock [Member]	'	'
Stockholders' deficit:	'	'
Common stock, par value (in dollars per share)	$0.01	$0.01
Common stock, shares authorized (in shares)	5,000,000	5,000,000
Common stock, shares issued (in shares)	0	0
Common stock, shares outstanding (in shares)	0	0

CONDENSED_CONSOLIDATED_STATEME

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (unaudited) (USD $)	3 Months Ended
In Thousands, except Per Share data, unless otherwise specified	Mar. 31, 2014	Mar. 31, 2013
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (unaudited) [Abstract]	'	'
Net revenue	$133,833	$112,205
Operating expenses:	'	'
Direct operating expenses, excluding depreciation and amortization	41,849	34,104
Selling, general, and administrative expenses, excluding depreciation and amortization	41,040	35,500
Amortization of broadcast rights	8,632	8,813
Amortization of intangible assets	6,193	7,990
Depreciation	8,419	7,980
Total operating expenses	106,133	94,387
Income from operations	27,700	17,818
Interest expense, net	-15,170	-16,549
Other expenses	-128	-84
Income before income taxes	12,402	1,185
Income tax expense	-5,049	-480
Net income	$7,353	$705
Net income per common share:	'	'
Basic (in dollars per share)	$0.24	$0.02
Diluted (in dollars per share)	$0.23	$0.02
Weighted average number of common shares outstanding:	'	'
Basic (in shares)	30,603	29,461
Diluted (in shares)	31,909	31,054
Dividends declared per common share (in dollars per share)	$0.15	$0.12

CONDENSED_CONSOLIDATED_STATEME1

CONDENSED CONSOLIDATED STATEMENT OF CHANGES IN STOCKHOLDERS' DEFICIT (unaudited) (USD $)	Preferred Stock [Member]	Class A Common Stock [Member]	Class B Common Stock [Member]	Class C Common Stock [Member]	Additional Paid-In Capital [Member]	Accumulated Deficit [Member]	Total
In Thousands, except Share data, unless otherwise specified	Preferred Stock [Member]	Class A Common Stock [Member]	Class B Common Stock [Member]	Class C Common Stock [Member]	Additional Paid-In Capital [Member]	Accumulated Deficit [Member]	Total
Balance at Dec. 31, 2013	$0	$306	$0	$0	$396,817	($410,354)	($13,231)
Balance (in shares) at Dec. 31, 2013	0	30,598,535	0	0	'	'	'
Increase (Decrease) in Stockholders' Equity [Roll Forward]	'	'	'	'	'	'	'
Stock-based compensation expense	0	0	0	0	1,643	0	1,643
Exercise of stock options	0	0	0	0	107	0	107
Exercise of stock options (in shares)	0	23,500	0	0	'	'	'
Excess tax benefit from stock option exercises	0	0	0	0	274	0	274
Common stock dividends paid	0	0	0	0	-4,588	0	-4,588
Net income	0	0	0	0	0	7,353	7,353
Balance at Mar. 31, 2014	$0	$306	$0	$0	$394,253	($403,001)	($8,442)
Balance (in shares) at Mar. 31, 2014	0	30,622,035	0	0	'	'	'

CONDENSED_CONSOLIDATED_STATEME2

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (unaudited) (USD $)	3 Months Ended
In Thousands, unless otherwise specified	Mar. 31, 2014	Mar. 31, 2013
Cash flows from operating activities:	'	'
Net income	$7,353	$705
Adjustments to reconcile net income to net cash provided by operating activities:	'	'
Provision for bad debts	1,015	397
Amortization of broadcast rights, excluding barter	2,960	2,969
Depreciation of property and equipment	8,419	7,980
Amortization of intangible assets	6,193	7,990
(Gain) loss on asset disposal, net	-15	7
Amortization of debt financing costs	647	506
Amortization of debt discount	43	325
Stock-based compensation expense	1,643	495
Deferred income taxes	4,496	295
Payments for broadcast rights	-3,149	-3,700
Deferred gain recognition	-109	-109
Amortization of deferred representation fee incentive	-205	-205
Excess tax benefit from stock option exercises	-274	-1,189
Changes in operating assets and liabilities, net of acquisitions:	'	'
Accounts receivable	3,958	-18,214
Prepaid expenses and other current assets	1,184	670
Other noncurrent assets	92	-5
Accounts payable and accrued expenses	343	-224
Interest payable	8,932	12,256
Deferred revenue	492	92
Other liabilities of consolidated variable interest entities	735	595
Other noncurrent liabilities	-22	1,469
Net cash provided by operating activities	44,731	13,105
Cash flows from investing activities:	'	'
Purchases of property and equipment	-3,983	-6,786
Payments for acquisitions	-22,057	-121,114
Proceeds from disposals of property and equipment	14	6
Net cash used in investing activities	-26,026	-127,894
Cash flows from financing activities:	'	'
Repayments of long-term debt	-3,610	0
Payments for debt financing costs	-77	-690
Proceeds from long-term debt	0	70,000
Proceeds from exercise of stock options	107	1,455
Excess tax benefit from stock option exercises	274	1,189
Common stock dividends paid	-4,588	-3,529
Payments for capital lease obligations	-259	-10
Net cash (used in) provided by financing activities	-8,153	68,415
Net increase (decrease) in cash and cash equivalents	10,552	-46,374
Cash and cash equivalents at beginning of period	40,028	68,999
Cash and cash equivalents at end of period	50,580	22,625
Supplemental information:	'	'
Interest paid	5,547	3,370
Income taxes paid, net	47	899
Non-cash investing and financing activities:	'	'
Accrued purchases of property and equipment	966	1,659
Noncash purchases of property and equipment	14	2,555
Accrued debt financing costs	$0	$552

Organization_and_Business_Oper

Organization and Business Operations	3 Months Ended
	Mar. 31, 2014
Organization and Business Operations [Abstract]	'
Organization and Business Operations	'
	1	Organization and Business Operations

	As of March 31, 2014, Nexstar Broadcasting Group, Inc. and its wholly-owned subsidiaries (“Nexstar”) owned, operated, programmed or provided sales and other services to 74 television stations and 19 digital multicast channels, including those owned by Mission Broadcasting, Inc. (“Mission”), in 44 markets in the states of Illinois, Indiana, Maryland, Missouri, Montana, Tennessee, Texas, Pennsylvania, Louisiana, Arkansas, Alabama, New York, Florida, Wisconsin, Michigan, Utah, Vermont, California and Iowa. The stations are affiliates of ABC (19 stations), NBC (16 stations), FOX (13 stations), CBS (13 stations), The CW (6 stations and 2 digital multicast channels), MyNetworkTV (5 stations and 2 digital multicast channels), Telemundo (one station and one digital multicast channel), Bounce TV (9 digital multicast channels), Me-TV (2 digital multicast channels), LiveWell (2 digital multicast channels), LATV (one digital multicast channel) and one independent station. Through various local service agreements, Nexstar provided sales, programming and other services to 21 stations and 5 digital multicast channels owned and/or operated by independent third parties. Nexstar operates in one reportable television broadcasting segment. The economic characteristics, services, production process, customer type and distribution methods for Nexstar’s operations are substantially similar and are therefore aggregated as a single reportable segment.

Summary_of_Significant_Account

Summary of Significant Accounting Policies	3 Months Ended
	Mar. 31, 2014
Summary of Significant Accounting Policies [Abstract]	'
Summary of Significant Accounting Policies	'
	2	Summary of Significant Accounting Policies

	Principles of Consolidation

	The Condensed Consolidated Financial Statements include the accounts of Nexstar. Also included in the Condensed Consolidated Financial Statements are the accounts of independently-owned variable interest entities (“VIEs”), including Mission. Nexstar and the consolidated VIEs are collectively referred to as the “Company”. Where the assets of the consolidated VIEs are not available to be used to settle the obligations of Nexstar, they are presented separately as assets of the consolidated VIEs on the Condensed Consolidated Balance Sheets. Similarly, where the creditors of the consolidated VIEs do not have recourse to the general credit of Nexstar, the related liabilities are presented separately as liabilities of the consolidated VIEs on the Condensed Consolidated Balance Sheets. Nexstar management evaluates each arrangement that may include variable interests and determines the need to consolidate an entity where it determines Nexstar is the primary beneficiary of a VIE in accordance with related authoritative literature and interpretive guidance. Certain stations owned by Citadel Communications, L.P. and its related entities (“Citadel”) were considered VIEs as of December 31, 2013. Nexstar completed the acquisition of these stations from Citadel during the first quarter of 2014 and are no longer VIEs as of March 31, 2014.

	All intercompany account balances and transactions have been eliminated in consolidation.

	Liquidity

	Nexstar is highly leveraged, which makes it vulnerable to changes in general economic conditions. Nexstar’s ability to repay or refinance its debt will depend on, among other things, financial, business, market, competitive and other conditions, many of which are beyond Nexstar’s control.

	Interim Financial Statements

	The Condensed Consolidated Financial Statements as of March 31, 2014 and for the three months ended March 31, 2014 and 2013 are unaudited. However, in the opinion of management, such financial statements include all adjustments (consisting solely of normal recurring adjustments) necessary for the fair statement of the financial information included herein in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”) and pursuant to the rules and regulations of the Securities and Exchange Commission (the “SEC”). The preparation of the Condensed Consolidated Financial Statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and the disclosure of contingent assets and liabilities at the date of the financial statements and reported amounts of revenue and expenses during the period. Actual results could differ from those estimates. Results of operations for interim periods are not necessarily indicative of results for the full year. These Condensed Consolidated Financial Statements should be read in conjunction with the Consolidated Financial Statements and related Notes included in Nexstar’s Annual Report on Form 10-K for the year ended December 31, 2013. The balance sheet as of December 31, 2013 has been derived from the audited financial statements as of that date, but does not include all of the information and footnotes required by U.S. GAAP for complete financial statements.

	Mission

	Mission is included in these Consolidated Financial Statements because Nexstar is deemed under U.S. GAAP to have a controlling financial interest in Mission as a VIE for financial reporting purposes as a result of (1) local service agreements Nexstar has with the Mission stations, (2) Nexstar’s guarantee of the obligations incurred under Mission’s senior secured credit facility (see Note 6), (3) Nexstar having power over significant activities affecting Mission’s economic performance, including budgeting for advertising revenue, advertising sales and hiring and firing of sales force personnel and (4) purchase options granted by Mission which permit Nexstar to acquire the assets and assume the liabilities of each Mission station, subject to Federal Communications Commission (“FCC”) consent. The purchase options are freely exercisable or assignable by Nexstar without consent or approval by Mission for consideration equal to the greater of (1) seven times the station’s cash flow, as defined in the option agreement, less the amount of its indebtedness, as defined in the option agreement, or (2) the amount of its indebtedness. Additionally, Nexstar has an option to purchase any or all of Mission’s stock, subject to FCC consent, for a price equal to the pro rata portion of the greater of (1) five times the stations’ cash flow, as defined in the agreement, reduced by the amount of indebtedness, as defined in the agreement, or (2) $100,000. These option agreements (which expire on various dates between 2014 and 2023) are freely exercisable or assignable by Nexstar without consent or approval by Mission or its shareholders. The Company expects these option agreements to be renewed upon expiration. As of March 31, 2014, the assets of Mission consisted of current assets of $15.0 million (excluding broadcast rights and amounts due from Nexstar), broadcast rights of $2.2 million, FCC licenses of $41.6 million, goodwill of $32.5 million, other intangible assets of $23.3 million, property and equipment of $26.1 million, noncurrent deferred tax assets of $23.8 million and other noncurrent assets of $3.9 million. Substantially all of Mission’s assets, except for its FCC licenses, collateralize its secured debt obligation. See Note 9 for a presentation of condensed consolidating financial information of the Company, which includes the accounts of Mission.

	Nexstar has entered into local service agreements with Mission to provide sales and operating services to the Mission stations. The following table summarizes the various local service agreements Nexstar had in effect with Mission as of March 31, 2014:

	Service Agreements			Mission Stations
	TBA Only(1)			WFXP and KHMT
	SSA & JSA(2)			KJTL, KJBO-LP, KLRT, KASN, KOLR, KCIT, KCPN-LP, KAMC, KRBC, KSAN, WUTR, WAWV, WYOU, KODE, WTVO, KTVE, WTVW and WVNY
	___________________________________________
	-1	Nexstar has a time brokerage agreement (“TBA”) with each of these stations which allows Nexstar to program most of each station’s broadcast time, sell each station’s advertising time and retain the advertising revenue generated in exchange for monthly payments to Mission.
	-2	Nexstar has both a shared services agreement (“SSA”) and a joint sales agreement (“JSA”) with each of these stations. Each SSA allows the Nexstar station in the market to provide services including news production, technical maintenance and security, in exchange for Nexstar’s right to receive certain payments from Mission as described in the SSAs. Each JSA permits Nexstar to sell the station’s advertising time and retain a percentage of the net revenue from the station’s advertising time in return for monthly payments to Mission of the remaining percentage of net revenue as described in the JSAs.

	Nexstar’s ability to receive cash from Mission is governed by these local service agreements. Under the local service agreements, Nexstar has received substantially all of Mission’s available cash, after satisfaction of operating costs and debt obligations. Nexstar anticipates it will continue to receive substantially all of Mission’s available cash, after satisfaction of operating costs and debt obligations. In compliance with FCC regulations for both Nexstar and Mission, Mission maintains complete responsibility for and control over programming, finances, personnel and operations of its stations.

	Variable Interest Entities

	Nexstar may determine that a station is a VIE as a result of local service agreements entered into with the owner-operator of the station. The term local service agreements generally refers to a contract between separately owned television stations serving the same market, whereby the owner-operator of one station contracts with the owner-operator of the other station to provide it with administrative, sales and other services required for the operation of its station. Nevertheless, the owner-operator of each station retains control and responsibility for the operation of its station, including ultimate responsibility over all programming broadcast on its station. In addition to those with Mission, Nexstar has VIEs in connection with local service agreements entered into with stations as discussed below.
	Nexstar has determined that it has a variable interest in WYZZ, the FOX affiliate in Peoria, Illinois owned by Cunningham Broadcasting Corporation (“Cunningham”). Nexstar also has determined that it has a variable interest in WHP, the CBS affiliate in Harrisburg, Pennsylvania, which is owned by Sinclair Broadcast Group, Inc. (“Sinclair”), as a result of Nexstar becoming successor-in-interest to a TBA entered into by a former owner of WLYH. Nexstar has evaluated its arrangements with Cunningham and Sinclair and has determined that it is not the primary beneficiary of the variable interests because it does not have the ultimate power to direct the activities that most significantly impact the economic performance of the stations, including developing the annual operating budget, programming and oversight and control of sales management personnel. Therefore, Nexstar has not consolidated these stations under authoritative guidance related to the consolidation of variable interest entities. Under the outsourcing agreement with Cunningham, Nexstar pays for certain operating expenses of WYZZ, and therefore may have unlimited exposure to any potential operating losses. Nexstar’s management believes that Nexstar’s minimum exposure to loss under the Cunningham outsourcing agreement consists of the fees paid to Cunningham. Additionally, Nexstar indemnifies the owners of WHP and WYZZ from and against all liability and claims arising out of or resulting from its activities, acts or omissions in connection with the agreements. The maximum potential amount of future payments Nexstar could be required to make for such indemnification is undeterminable at this time. In 2013, WYZZ was owned by Sinclair, sold to Cunningham in November 2013, and Nexstar had another variable interest in WUHF in Rochester, New York, also owned by Sinclair, which terminated on December 31, 2013. Under the outsourcing agreements, Nexstar made payments to Cunningham of $0.3 million and to Sinclair of $1.2 million for the three months ended March 31, 2014 and 2013, respectively. Nexstar had a balance due to Cunningham and Sinclair for fees under these arrangements in the amount of $0.3 million and $1.8 million as of March 31, 2014 and December 31, 2013, respectively, and had receivables for advertising aired on these two stations in the amount of $1.1 million and $2.5 million, respectively.

	Nexstar also determined that it had variable interests in the newly acquired stations from Citadel (See Note 3) as a result of TBAs effective September 16, 2013. Nexstar evaluated the business arrangements with these stations and determined that it was the primary beneficiary of the variable interests because it had the ultimate power to direct the activities that most significantly impact the economic performance of the stations including developing the annual operating budget, programming and oversight and control of sales management personnel. Therefore, Nexstar consolidated these stations as of September 16, 2013 under authoritative guidance related to the consolidation of variable interest entities. Nexstar completed its acquisition of the Citadel stations in March 2014. Thus, Nexstar no longer has variable interests in these stations. See Note 3 for additional information.

	Financial Instruments

	The carrying amounts of cash and cash equivalents, accounts receivable, broadcast rights payable, accounts payable and accrued expenses approximate fair value due to their short-term nature. See Note 6 for fair value disclosures related to the Company’s debt.

	Income Per Share

	Basic income per share is computed by dividing the net income by the weighted-average number of common shares outstanding during the period. Diluted income per share is computed using the weighted-average number of common shares and potentially dilutive common shares outstanding during the period. Potentially dilutive common shares are calculated using the treasury stock method. They consist of stock options outstanding during the period and reflect the potential dilution that could occur if common stock were issued upon exercise of stock options. The following table shows the amounts used in computing the Company’s diluted shares (in thousands):

			Three Months Ended
			March 31,
			2014		2013
	Weighted average shares outstanding - basic			30,603		29,461
	Effect of dilutive stock options			1,306		1,593
	Weighted average shares outstanding - diluted			31,909		31,054

	Stock options to purchase 621,000 shares of Class A common stock were excluded from the computation of diluted earnings per share for the three months ended March 31, 2014 because their impact would have been antidilutive. No stock options were excluded from the computation of dilutive earnings per share for the three months ended March 31, 2013.

	Basis of Presentation

	Certain prior year financial statement amounts have been reclassified to conform to the current year presentation. These reclassifications had no effect on net income or stockholders’ deficit as previously reported.

	Recent Accounting Pronouncements

	In April 2014, the FASB issued ASU No. 2014-08, Presentation of Financial Statements (Topic 205) and Property, Plant and Equipment (Topic 360) (“ASU 2014-08”). ASU 2014-08 provides guidance that raises the threshold for disposals to qualify as a discontinued operation. ASU 2014-08 also allows companies to have significant continuing involvement and continuing cash flows with the discontinued operation and requires additional disclosures for discontinued operation and new disclosures for individually material disposal transactions that do not meet the definition of a discontinued operation. The update is effective for the years beginning after December 15, 2014. The Company does not expect the implementation of this standard to have a material impact on its financial position or results of operations.

Acquisitions

Acquisitions	3 Months Ended
Acquisitions	Mar. 31, 2014
Acquisitions [Abstract]	'
Acquisitions	'
	3	Acquisitions

	Completed Acquisitions

	Citadel

	On September 16, 2013, Nexstar entered into definitive agreements with Citadel to acquire 3 television stations in 3 markets along with the respective network affiliation agreements: WOI (ABC) in the Des Moines, Iowa market, WHBF (CBS) in the Quad Cities, Iowa market and KCAU (ABC) in the Sioux City, Iowa market. Nexstar acquired the assets of KCAU and WHBF and the outstanding equity of WOI for a total of $87.9 million in cash. In 2013, Nexstar made payments of $44.9 million to acquire the assets excluding FCC licenses and real property interests of KCAU and WHBF and $21.0 million as an upfront payment to acquire the outstanding equity of WOI, funded by a combination of borrowings under Nexstar’s revolving credit facility and cash on hand. Nexstar also entered into TBAs with these stations, effective September 16, 2013, to provide programming and sales services to these stations during the pendency of the FCC approval of the acquisitions. On March 5, 2014, Nexstar received approval from the FCC to purchase the remaining assets of KCAU and WHBF and to acquire the outstanding equity of WOI. On March 13, 2014, Nexstar completed the acquisition of FCC licenses and real property interests of KCAU and WHBF and the outstanding equity of WOI and paid the remaining purchase price of $22.0 million, funded by cash on hand. In addition, Nexstar finalized the fair values of the assets acquired and recorded a decrease in goodwill of $19 thousand. The TBAs entered into with KCAU, WHBF and WOI were also terminated as of this date. The acquisitions allow Nexstar entrance into 3 new markets. During the three months ended March 31, 2014, transaction costs relating to these acquisitions, including legal and professional fees of $0.1 million, were expensed as incurred.

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

	Broadcast rights		$	269
	Prepaid expenses and other current assets			305
	Property and equipment			10,613
	FCC licenses			24,700
	Network affiliation agreements			26,129
	Other intangible assets			3,398
	Goodwill			30,195
	Other assets			1,807
	Total assets acquired			97,416
	Less: Broadcast rights payable			(269	)
	Less: Accounts payable and accrued expenses			(397	)
	Less: Deferred tax liabilities			(8,801	)
	Net assets acquired		$	87,949

	The fair value assigned to goodwill is attributable to future expense reductions utilizing management’s leverage in programming and other station operating costs. The intangible assets related to the network affiliation agreements are amortized over 15 years. Other intangible assets are amortized over an estimated weighted average useful life of one year.

	Nexstar expects the amortization of the acquired KCAU and WHBF goodwill and FCC licenses of $10.7 million and $14.7 million, respectively, to be deductible for tax purposes. The acquired WOI goodwill, FCC license and network affiliation agreements of $19.5 million, $10.0 million and $11.0 million, respectively, will not be deductible for tax purposes until such time that the station is disposed.

	Net revenue of $5.7 million and net income of $0.1 million during the three months ended March 31, 2014 of the acquired stations have been included in the accompanying Condensed Consolidated Statements of Operations.

	Internet Broadcasting Systems

	Effective April 1, 2014, Nexstar acquired the assets of Internet Broadcasting Systems, Inc. (“IBS”) for $20.0 million, subject to adjustment for working capital. Refer to Note 10 for additional information.

	Signed Purchase Agreements

	CCA/White Knight

	On April 24, 2013, Nexstar and Mission entered into a stock purchase agreement to acquire the stock of privately-held Communications Corporation of America (“CCA”) and White Knight Broadcasting (“White Knight”), the owners of 19 television stations in 10 markets, for a total consideration of $270.0 million, subject to adjustments for working capital. Pursuant to the stock purchase agreement, Nexstar has agreed to purchase all the outstanding equity of CCA and Mission has agreed to purchase all the outstanding equity of White Knight. Nexstar will acquire 10 television stations, Mission will acquire 7 television stations and Rocky Creek Communications, Inc. (“Rocky Creek”), an independent third party, will acquire 2 television stations. Nexstar will also enter into local service agreements with Mission and Rocky Creek. These acquisitions will allow the Company entrance into 7 new markets and create duopolies in 4 markets. The stations to be acquired are as follows:
	Market
	Market		Market Rank		Station		Affiliation
	Nexstar:
	Harlingen-Weslaco-Brownsville-McAllen, TX		86		KVEO		NBC/Estrella
	Waco-Temple-Bryan, TX		88		KWKT		FOX/MyNetworkTV/ Estrella
	Waco-Temple-Bryan, TX		88		KYLE		FOX/MyNetworkTV/ Estrella
	El Paso, TX		91		KTSM		NBC/Estrella
	Baton Rouge, LA		94		WGMB		FOX
	Baton Rouge, LA		94		WBRL-CD		The CW
	Tyler-Longview, TX		107		KETK		NBC/Estrella
	Lafayette, LA		124		KADN		FOX
	Lafayette, LA		124		KLAF-LD		MyNetworkTV
	Alexandria, LA		179		WNTZ		FOX/MyNetworkTV

	Mission:
	Shreveport, LA		83		KMSS		FOX
	Baton Rouge, LA		94		WVLA		NBC
	Baton Rouge, LA		94		KZUP-CD		RTV
	Tyler-Longview, TX		107		KFXK		FOX
					KFXL-LD		FOX
					KLPN-LD		MyNetworkTV
	Odessa-Midland, TX		152		KPEJ		FOX/Estrella

	Rocky Creek:
Shreveport, LA		83		KSHV		MyNetworkTV
Evansville, IN		104		WEVV		CBS/FOX/ MyNetworkTV
A deposit of $27.0 million was paid in April 2013 upon signing the agreement, funded by a combination of borrowings under Nexstar’s revolving credit facility and cash on hand. The remaining purchase price is expected to be funded through cash generated from operations prior to closing, borrowings under Nexstar and Mission’s existing credit facilities and future credit transactions. The acquisitions are subject to FCC approval, Department of Justice (“DOJ”) approval and other customary conditions and the Company is projecting them to close in 2014. No significant transaction costs were incurred in connection with this acquisition during the three months ended March 31, 2014.

Stainless

On September 13, 2013, Mission entered into a definitive agreement to acquire WICZ, the FOX affiliate, and WBPN-LP, the MyNetworkTV affiliate, both in the Binghamton, New York market, from Stainless Broadcasting, L.P. (“Stainless”). The acquisition will allow Mission entrance into this market. Under the terms of the purchase agreement, Mission will acquire the assets of WICZ and WBPN-LP for $15.3 million in cash, subject to adjustments for working capital. A deposit of $0.2 million was paid in September 2013 upon signing the agreement. The remaining purchase price is expected to be funded by Mission through borrowings under its existing credit facility and cash on hand. The acquisition is subject to FCC approval and other customary conditions and Mission projects it to close 2014. During the three months ended March 31, 2014, transactions costs relating to this acquisition, including legal fees of $0.2 million, were expensed as incurred.

Grant

On November 6, 2013, Nexstar entered into a stock purchase agreement to acquire the outstanding equity of privately-held Grant Company, Inc. (“Grant”), the owner of 7 television stations in 4 markets, for $87.5 million in cash, subject to adjustments for working capital. The stations to be acquired, along with their respective network affiliation agreements, are WFXR (FOX) and WWCW (The CW), both in the Roanoke, Virginia market, WZDX (FOX), in the Huntsville, Alabama market, KGCW (The CW) and KLJB (FOX), both in the Quad Cities, Iowa market and WLAX (FOX) and WEUX (FOX), both in the LaCrosse, Wisconsin market. Simultaneous with this acquisition, Nexstar entered into a purchase agreement with Mission pursuant to which Mission will acquire KLJB from Nexstar for $15.3 million in cash and, upon consummation, enter into local service agreements with Nexstar. The acquisitions will allow the Company entrance into 3 new markets and a duopoly in one market. A deposit of $8.5 million was paid by Nexstar in November 2013 upon signing the stock purchase agreement, funded by cash on hand. The remaining purchase price is expected to be funded through cash generated from operations prior to closing, borrowings under the existing credit facilities and future credit transactions. The acquisitions are subject to FCC approval and other customary conditions and the Company is projecting them to close in 2014. No significant transaction costs were incurred in connection with this acquisition during the three months ended March 31, 2014.

Gray TV/Excalibur

On December 18, 2013, Nexstar and Mission entered into definitive agreements to acquire 6 television stations in 2 markets. Under the terms of the purchase agreements, Nexstar will acquire the outstanding equity of the following stations from Gray Television Group, Inc. (“Gray TV”) for $33.5 million in cash, subject to adjustments for working capital, along with their respective network affiliation agreements: WMBB (ABC) in the Panama City, Florida market, KREX (CBS) and KGJT (MyNetworkTV), both in the Grand Junction, Colorado market, KREG (CBS), in the Glenwood Springs, Colorado market and KREY (CBS), in the Montrose, Colorado market. Both KREG and KREY operate as satellite stations of KREX. Mission will acquire the outstanding equity of KFQX, the FOX affiliate, in the Grand Junction, Colorado market, for $4.0 million in cash, subject to adjustments for working capital, from Excalibur Broadcasting, LLC (“Excalibur”). The acquisitions will allow the Company entrance into 2 new markets. Nexstar expects to fund the purchase price of stations to be acquired from Gray TV through cash generated from operations prior to closing, borrowings under Nexstar’s existing credit facility and future credit transactions. Mission expects to fund the purchase price of stations to be acquired from Excalibur through cash generated from operations prior to closing. The acquisitions are subject to FCC approval and other customary conditions and the Company is projecting them to close in 2014. No significant transaction costs were incurred in connection with these acquisitions during the three months ended March 31, 2014.

Intangible_Assets_and_Goodwill

Intangible Assets and Goodwill	3 Months Ended
Intangible Assets and Goodwill	Mar. 31, 2014
Intangible Assets and Goodwill [Abstract]	'
Intangible Assets and Goodwill	'
	4	Intangible Assets and Goodwill

	Intangible assets subject to amortization consisted of the following (in thousands):

			Estimated			31-Mar-14											31-Dec-13
			useful life,							Accumulated											Accumulated
			in years			Gross				Amortization				Net			Gross				Amortization				Net
	Network affiliation agreements			15			$	441,811			$	(296,291	)		$	145,520		$	441,811			$	(291,154	)		$	150,657
	Other definite-lived intangible assets			15-Jan				33,435				(22,613	)			10,822			33,435				(21,557	)			11,878
	Other intangible assets						$	475,246			$	(318,904	)		$	156,342		$	475,246			$	(312,711	)		$	162,535

	The following table presents the Company’s estimate of amortization expense for the remainder of 2014, each of the five succeeding years ended December 31 and thereafter for definite-lived intangible assets as of March 31, 2014 (in thousands):

	Remainder of 2014		$	16,193
	2015			20,053
	2016			15,261
	2017			14,557
	2018			12,231
	2019			10,760
	Thereafter			67,287
			$	156,342

	The amounts recorded to goodwill and FCC licenses were as follows (in thousands):

		Goodwill												FCC Licenses
						Accumulated											Accumulated
		Gross				Impairment				Net				Gross			Impairment				Net
	Balance as of December 31, 2013		$	244,043			$	(45,991	)		$	198,052			$	338,441		$	(49,421	)		$	289,020
	Citadel acquisitions (See Note 3)			(19	)			-				(19	)			-			-				-
	Balance as of March 31, 2014		$	244,024			$	(45,991	)		$	198,033			$	338,441		$	(49,421	)		$	289,020

	Indefinite-lived intangible assets are not subject to amortization, but are tested for impairment annually or whenever events or changes in circumstances indicate that such assets might be impaired. As of March 31, 2014, the Company did not identify any events that would trigger impairment assessment.

Accrued_Expenses

Accrued Expenses	3 Months Ended
Accrued Expenses	Mar. 31, 2014
Accrued Expenses [Abstract]	'
Accrued Expenses	'
	5	Accrued Expenses

	Accrued expenses consisted of the following (in thousands):

			March 31,		December 31,
			2014		2013
	Compensation and related taxes		$	5,053	$	9,744
	Sales commissions			2,607		2,556
	Employee benefits			1,680		1,354
	Property taxes			895		649
	Other			9,884		9,839
			$	20,119	$	24,142

Debt

Debt	3 Months Ended
Debt	Mar. 31, 2014
Debt [Abstract]	'
Debt	'
	6	Debt

	Long-term debt consisted of the following (in thousands):

			March 31,				December 31,
			2014				2013
	Term loans, net of discount of $1,491 and $1,554, respectively		$	541,903			$	545,450
	6.875% Senior unsecured notes due 2020, including premium of $649 and $669, respectively			525,649				525,669
				1,067,552				1,071,119
	Less: current portion			(6,174	)			(6,857	)
			$	1,061,378			$	1,064,262

	2014 Transactions

	In March 2014, Nexstar and Mission paid the contractual maturities under their senior secured credit facilities of $0.5 million and $0.5 million, respectively.

	On March 10, 2014, pursuant to the mandatory prepayment provisions under their credit agreements, Nexstar and Mission prepaid $1.1 million and $1.0 million, respectively, of the outstanding principal balance under their Term Loan B-2. In addition, Nexstar prepaid $0.5 million of the outstanding principal balance under its Term Loan A. The mandatory prepayments were calculated per the credit agreements, based on the consolidated first lien indebtedness ratio, as defined in the credit agreements, less amounts declined by lenders.

	Unused Commitments and Borrowing Availability

	Nexstar and Mission had $105.0 million of total unused revolving loan commitments under their senior secured credit facilities, all of which was available for borrowing, based on the covenant calculations as of March 31, 2014. Nexstar and Mission also had $184.0 million of unused Term Loan A Facilities commitment under their amended senior secured credit facilities, all of which was available for borrowing as of March 31, 2014, upon the close of the CCA and White Knight acquisitions. Nexstar and Mission’s ability to access funds under their senior secured credit facilities depends, in part, on their compliance with certain financial covenants.

	Debt Covenants

	The Nexstar senior secured credit facility agreement contains covenants which require Nexstar to comply with certain financial covenant ratios, including (1) a maximum consolidated total net leverage ratio of Nexstar Broadcasting, Inc. (“Nexstar Broadcasting”) a wholly-owned, indirect subsidiary of Nexstar, and Mission of 7.25 to 1.00 at March 31, 2014, (2) a maximum consolidated first lien net leverage ratio of 4.0 to 1.00 at any time and (3) a minimum consolidated fixed charge coverage ratio of 1.20 to 1.00 at any time. The covenants, which are formally calculated on a quarterly basis, are based on the combined results of Nexstar Broadcasting and Mission. Mission’s senior secured credit agreement does not contain financial covenant ratio requirements, but includes default provisions in the event Nexstar does not comply with all covenants contained in its senior secured credit facility agreement. As of March 31, 2014, Nexstar was in compliance with all of its covenants.

	Collateralization and Guarantees of Debt

	Nexstar and Mission’s senior secured credit facilities are collateralized by a security interest in substantially all the combined assets, excluding FCC licenses, of Nexstar and Mission. Nexstar guarantees full payment of all obligations incurred under the Mission senior secured credit facility in the event of Mission’s default. Similarly, Mission is a guarantor of the Nexstar senior secured credit facility and the senior unsecured notes issued by Nexstar.
	Fair Value of Debt

	The aggregate carrying amounts and estimated fair values of the Company’s debt were as follows (in thousands):

		31-Mar-14								31-Dec-13
		Carrying Amount				Fair Value				Carrying Amount			Fair Value
	Term loans(1)		$	541,903			$	544,170			$	545,450		$	546,818
	6.875% Senior unsecured notes(2)			525,649				563,719				525,669			561,750
	_________________________
	-1		The fair value of senior secured credit facilities is computed based on borrowing rates currently available to Nexstar and Mission for bank loans with similar terms and average maturities. These fair value measurements are considered Level 3, as significant inputs to the fair value calculation are unobservable in the market.
	-2		The fair value of Nexstar’s fixed rate debt is estimated based on bid prices obtained from an investment banking firm that regularly makes a market for these financial instruments. These fair value measurements are considered Level 2, as quoted market prices are available for low volume trading of these securities.

FCC_Regulatory_Matters

FCC Regulatory Matters	3 Months Ended
	Mar. 31, 2014
FCC Regulatory Matters [Abstract]	'
FCC Regulatory Matters	'
	7	FCC Regulatory Matters

	Television broadcasting is subject to the jurisdiction of the FCC under the Communications Act of 1934, as amended (the “Communications Act”). The Communications Act prohibits the operation of television broadcasting stations except under a license issued by the FCC, and empowers the FCC, among other things, to issue, revoke, and modify broadcasting licenses, determine the location of television stations, regulate the equipment used by television stations, adopt regulations to carry out the provisions of the Communications Act and impose penalties for the violation of such regulations. The FCC’s ongoing rule making proceedings could have a significant future impact on the television industry and on the operation of the Company’s stations and the stations to which it provides services. In addition, the U.S. Congress may act to amend the Communications Act or adopt other legislation in a manner that could impact the Company’s stations, the stations to which it provides services and the television broadcast industry in general.

	The FCC has adopted rules with respect to the final conversion of existing low power and television translator stations to digital operations. The FCC has established a September 1, 2015 deadline by which low power and television translator stations must cease analog operations. The Company will transition its low power and television translator stations to digital operations prior to September 1, 2015.

	Media Ownership

	The FCC is required to review its media ownership rules every four years and to eliminate those rules it finds no longer serve the “public interest, convenience and necessity.”

	In 2006, the FCC initiated a rulemaking proceeding to review all of its media ownership rules, as required by the Communications Act. The FCC considered rules relating to ownership of two or more TV stations in a market, ownership of local TV and radio stations by daily newspapers in the same market, cross-ownership of local TV and radio stations, and changes to how the national TV ownership limits are calculated. In February 2008, the FCC adopted modest changes to its newspaper/broadcast cross-ownership rule while retaining the rest of its ownership rules then currently in effect. On July 7, 2011, the U.S. Court of Appeals for the Third Circuit vacated the FCC’s changes to its newspaper/broadcast cross-ownership rule while upholding the FCC’s retention of its other media ownership rules. In June 2012, the Supreme Court denied various petitions for Supreme Court review of the Third Circuit’s decision.

	In May 2010, the FCC initiated its 2010 review of its media ownership rules with the issuance of a notice of inquiry, and in December 2011, the agency issued a notice of proposed rulemaking seeking comment on specific proposed changes to its ownership rules. The FCC, however, did not complete its 2010 review proceeding. In March 2014, the FCC initiated its 2014 quadrennial review with the adoption of a Further Notice of Proposed Rulemaking (FNPRM). The FNPRM incorporates the record of the 2010 quadrennial review proceeding and again solicits comment on proposed changes to the media ownership rules. Among the proposals in the FNPRM are (1) retention of the current local television ownership rule (but with modifications to certain service contour definitions to conform to digital television broadcasting), (2) elimination of the radio/television cross-ownership rule, (3) elimination of the newspaper/radio cross-ownership rule, and (4) retention of the newspaper/television cross-ownership rule, while considering waivers of that rule in certain circumstances. The FNPRM also proposes to define a category of sharing agreements designated as SSAs between television stations, and to require television stations to disclose those SSAs. Comments and reply comments on the FNPRM are expected to be filed in the third quarter of 2014.

	Concurrently with its adoption of the FNPRM, the FCC also adopted a rule making television JSAs attributable to the seller of advertising time in certain circumstances. Under this rule, where a party owns a full-power television station in a market and sells more than 15% of the weekly advertising time for another, non-owned station in the same market under a JSA, that party will be deemed to have an attributable interest in the latter station for purposes of the local television ownership rule. Parties to newly attributable JSAs that do not comply with the local television ownership rule will have two years from the effective date of the rule to modify or terminate their JSAs to come into compliance. Although the FCC will consider waivers of the new JSA attribution rule, the FCC thus far has provided little guidance on what factors must be present for a waiver to be granted. If we are required to amend or terminate our existing agreements we could have a reduction in revenue and increased costs if we are unable to successfully implement alternative arrangements that are as beneficial as the existing JSA agreements.

	Also in March 2014, the FCC’s Media Bureau issued a public notice announcing “processing guidelines” for certain pending and future applications for FCC approval of television acquisitions. The public notice indicates that the FCC will “closely scrutinize” applications which propose a JSA, SSA or local marketing agreement (“LMA”) between television stations, combined with an option, a similar “contingent interest,” or a loan guarantee.

	In September 2013, the FCC commenced a rulemaking proceeding to consider whether to eliminate the “UHF discount” that is currently used to calculate compliance with the national television ownership limit.

	Spectrum

	The FCC has initiated various proceedings to assess the availability of spectrum to meet future wireless broadband needs. The FCC’s March 2010 “National Broadband Plan” recommends the reallocation of 120 megahertz of the spectrum currently used for broadcast television for wireless broadband use. The FCC has thus far adopted rules permitting television stations to share a single 6 megahertz channel and requested comment on proposals that include, among other things, whether to add new frequency allocations in the television bands for licensed fixed and mobile wireless uses and whether to implement technical rule modifications to improve the viability of certain channels that are underutilized by digital television stations. In February 2012, Congress adopted legislation authorizing the FCC to conduct an incentive auction whereby television broadcasters could voluntarily relinquish all or part of their spectrum in exchange for consideration. On September 28, 2012, the FCC adopted a Notice of Proposed Rule Making seeking public comment on the design of the incentive auction and various technical issues related to the reallocation of television spectrum for mobile broadband use. Comments on the notice were filed in January 2013, and reply comments were filed in March 2013. A reallocation of television spectrum for wireless broadband use would involve a “repacking” of the television broadcast band, which would require some television stations to change channel or otherwise modify their technical facilities. Future steps to reallocate television spectrum to broadband use may be to the detriment of the Company’s investment in digital facilities, could require substantial additional investment to continue current operations, and may require viewers to invest in additional equipment or subscription services to continue receiving broadcast television signals. The Company cannot predict the timing or results of television spectrum reallocation efforts or their impact to its business.

	Retransmission Consent

	On March 3, 2011, the FCC initiated a Notice of Proposed Rulemaking to reexamine its rules (i) governing the requirements for good faith negotiations between multichannel video program distributors (MVPDs) and broadcasters, including implementing a prohibition on one station negotiating retransmission consent terms for another station under a local service agreement; (ii) for providing advance notice to consumers in the event of dispute; and (iii) to extend certain cable-only obligations to all MVPDs. The FCC also asked for comment on eliminating the network non-duplication and syndicated exclusivity protection rules, which may permit MVPDs to import out-of-market television stations during a retransmission consent dispute. In March 2014, the FCC adopted a rule that prohibits joint retransmission consent negotiation between television stations in the same market which are not commonly owned and which are ranked among the top four stations in the market in terms of audience share. Concurrently with its adoption of this rule, the FCC also adopted a further notice of proposed rulemaking which seeks comment on the elimination or modification of the network non-duplication and syndicated exclusivity rules. The FCC’s prohibition on joint negotiations and its possible elimination or modification of the network non-duplication and syndicated exclusivity protection rules are likely to affect the Company’s ability to sustain its current level of retransmission consent revenues or grow such revenues in the future and could have an adverse effect on the Company’s business, financial condition and results of operations. The Company cannot predict the resolution of the FCC’s network non-duplication and syndicated exclusivity proposals, or the impact of these proposals or the FCC’s new prohibition on joint negotiations, on its business.

Commitments_and_Contingencies

Commitments and Contingencies	3 Months Ended
	Mar. 31, 2014
Commitments and Contingencies [Abstract]	'
Commitments and Contingencies	'
	8	Commitments and Contingencies

	Guarantee of Mission Debt

	Nexstar guarantees full payment of all obligations incurred under Mission’s senior secured credit facility. In the event that Mission is unable to repay amounts due, Nexstar will be obligated to repay such amounts. The maximum potential amount of future payments that Nexstar would be required to make under this guarantee would be generally limited to the amount of borrowings outstanding. As of March 31, 2014, Mission had a maximum commitment of $351.4 million under its senior secured credit facility, of which $231.4 million of debt was outstanding.

	Indemnification Obligations

	In connection with certain agreements into which the Company enters in the normal course of its business, including local service agreements, business acquisitions and borrowing arrangements, the Company enters into contractual arrangements under which the Company agrees to indemnify the other party to such arrangement from losses, claims and damages incurred by the indemnified party for certain events as defined within the particular contract. Such indemnification obligations may not be subject to maximum loss clauses and the maximum potential amount of future payments the Company could be required to make under these indemnification arrangements may be unlimited. Historically, payments made related to these indemnifications have been immaterial and the Company has not incurred significant costs to defend lawsuits or settle claims related to these indemnification agreements.

	Litigations

	From time to time, the Company is involved with claims that arise out of the normal course of its business. In the opinion of management, any resulting liability with respect to these claims would not have a material adverse effect on the Company’s financial position, results of operations or cash flows.

Condensed_Consolidating_Financ

Condensed Consolidating Financial Information	3 Months Ended
Condensed Consolidating Financial Information	Mar. 31, 2014
Condensed Consolidating Financial Information [Abstract]	'
Condensed Consolidating Financial Information	'
	9	Condensed Consolidating Financial Information

	The following condensed consolidating financial information presents the financial position, results of operations and cash flows of Nexstar and its consolidated VIE. This information is presented in lieu of separate financial statements and other related disclosures pursuant to Regulation S-X Rule 3-10 of the Securities Exchange Act of 1934, as amended, “Financial Statements of Guarantors and Issuers of Guaranteed Securities Registered or Being Registered.”

	The Nexstar column presents the parent company’s financial information (not including any subsidiaries). Nexstar owns 100% of Nexstar Finance Holdings, Inc. (“Nexstar Holdings”), which owns 100% of Nexstar Broadcasting. The Nexstar Holdings column presents its financial information (not including any subsidiaries). The Nexstar Broadcasting column presents its financial information. The Mission column presents the financial information of Mission, an entity which Nexstar Broadcasting is required to consolidate as a VIE (see Note 2). Neither Mission nor Nexstar Broadcasting has any subsidiaries.

	Nexstar’s outstanding 6.875% senior unsecured notes (See Note 6) are fully and unconditionally guaranteed, jointly and severally, by Nexstar and Mission, subject to certain customary release provisions. These notes are not guaranteed by any other entities.

	CONDENSED CONSOLIDATING BALANCE SHEET
	As of March 31, 2014
	(in thousands)

							Nexstar							Nexstar							Consolidated
			Nexstar				Broadcasting			Mission				Holdings			Eliminations				Company
	ASSETS
	Current assets:
	Cash and cash equivalents		$	-			$	50,013		$	567			$	-		$	-			$	50,580
	Due from Nexstar Broadcasting			-				-			4,356				-			(4,356	)			-
	Other current assets			-				138,358			15,591				-			-				153,949
	Total current assets			-				188,371			20,514				-			(4,356	)			204,529
	Investments in subsidiaries eliminated upon consolidation			65,149				-			-				80,391			(145,540	)			-
	Amounts due from parents eliminated upon consolidation			-				17,545			-				-			(17,545	)			-
	Property and equipment, net			-				179,366			26,111				-			-				205,477
	Goodwill			-				165,544			32,489				-			-				198,033
	FCC licenses			-				247,457			41,563				-			-				289,020
	Other intangible assets, net			-				133,077			23,265				-			-				156,342
	Other noncurrent assets			-				66,655			28,737				-			-				95,392
	Total assets		$	65,149			$	998,015		$	172,679			$	80,391		$	(167,441	)		$	1,148,793
	LIABILITIES AND STOCKHOLDERS' EQUITY (DEFICIT)
	Current liabilities:
	Current portion of debt		$	-			$	4,337		$	1,837			$	-		$	-			$	6,174
	Due to Mission			-				4,356			-				-			(4,356	)			-
	Other current liabilities			-				58,218			5,462				-			-				63,680
	Total current liabilities			-				66,911			7,299				-			(4,356	)			69,854
	Debt			-				832,188			229,190				-			-				1,061,378
	Amounts due to subsidiary eliminated upon consolidation			2,305				-			-				15,240			(17,545	)			-
	Other noncurrent liabilities			(3	)			18,525			7,479				2			-				26,003
	Total liabilities			2,302				917,624			243,968				15,242			(21,901	)			1,157,235
	Stockholders' equity (deficit):
	Common stock			306				-			-				-			-				306
	Other stockholders' equity (deficit)			62,541				80,391			(71,289	)			65,149			(145,540	)			(8,748	)
	Total stockholders' equity (deficit)			62,847				80,391			(71,289	)			65,149			(145,540	)			(8,442	)
	Total liabilities and stockholders' equity (deficit)		$	65,149			$	998,015		$	172,679			$	80,391		$	(167,441	)		$	1,148,793


	CONDENSED CONSOLIDATING BALANCE SHEET
	As of December 31, 2013
	(in thousands)

							Nexstar							Nexstar							Consolidated
			Nexstar				Broadcasting			Mission				Holdings			Eliminations				Company
	ASSETS
	Current assets:
	Cash and cash equivalents		$	-			$	36,312		$	3,716			$	-		$	-			$	40,028
	Due from Mission			-				3,847			-				-			(3,847	)			-
	Other current assets			-				146,298			14,840				-			-				161,138
	Total current assets			-				186,457			18,556				-			(3,847	)			201,166
	Investments in subsidiaries eliminated upon consolidation			61,100				-			-				76,342			(137,442	)			-
	Amounts due from subsidiary eliminated upon consolidation			259				-			-				-			(259	)			-
	Amounts due from parents eliminated upon consolidation			-				14,981			-				-			(14,981	)			-
	Property and equipment, net			-				185,499			26,760				-			-				212,259
	Goodwill			-				165,563			32,489				-			-				198,052
	FCC licenses			-				247,457			41,563				-			-				289,020
Other intangible assets, net			-				138,497			24,038				-			-				162,535
Other noncurrent assets			-				69,347			31,343				-			-				100,690
Total assets		$	61,359			$	1,007,801		$	174,749			$	76,342		$	(156,529	)		$	1,163,722
LIABILITIES AND STOCKHOLDERS' EQUITY (DEFICIT)
Current liabilities:
Current portion of debt		$	-			$	4,523		$	2,334			$	-		$	-			$	6,857
Due to Nexstar Broadcasting			-				-			3,847				-			(3,847	)			-
Other current liabilities			-				72,115			4,950				-			-				77,065
Total current liabilities			-				76,638			11,131				-			(3,847	)			83,922
Debt			-				834,131			230,131				-			-				1,064,262
Amounts due to subsidiary eliminated upon consolidation			-				-			-				15,240			(15,240	)			-
Other noncurrent liabilities			(3	)			20,690			8,080				2			-				28,769
Total liabilities			(3	)			931,459			249,342				15,242			(19,087	)			1,176,953
Stockholders' equity (deficit):
Common stock			306				-			-				-			-				306
Other stockholders' equity (deficit)			61,056				76,342			(74,593	)			61,100			(137,442	)			(13,537	)
Total stockholders' equity (deficit)			61,362				76,342			(74,593	)			61,100			(137,442	)			(13,231	)
Total liabilities and
stockholders' equity (deficit)		$	61,359			$	1,007,801		$	174,749			$	76,342		$	(156,529	)		$	1,163,722


CONDENSED CONSOLIDATING STATEMENT OF OPERATIONS
Three Months Ended March 31, 2014
(in thousands)

						Nexstar							Nexstar							Consolidated
		Nexstar				Broadcasting			Mission				Holdings			Eliminations				Company
Net broadcast revenue (including trade and barter)		$	-			$	124,953		$	8,880			$	-		$	-			$	133,833
Revenue between consolidated entities			-				2,445			9,648				-			(12,093	)			-
Net revenue			-				127,398			18,528				-			(12,093	)			133,833
Operating expenses:
Direct operating expenses, excluding depreciation and amortization			-				37,483			4,366				-			-				41,849
Selling, general, and administrative expenses, excluding depreciation and amortization			-				40,217			823				-			-				41,040
Local service agreement fees between consolidated entities			-				9,648			2,445				-			(12,093	)			-
Amortization of broadcast rights			-				7,142			1,490				-			-				8,632
Amortization of intangible assets			-				5,420			773				-			-				6,193
Depreciation			-				7,686			733				-			-				8,419
Total operating expenses			-				107,596			10,630				-			(12,093	)			106,133
Income from operations			-				19,802			7,898				-			-				27,700
Interest expense, net			-				(12,677	)		(2,493	)			-			-				(15,170	)
Other expenses			-				(128	)		-				-			-				(128	)
Equity in income of subsidiaries			4,049				-			-				4,049			(8,098	)			-
Income before income taxes			4,049				6,997			5,405				4,049			(8,098	)			12,402
Income tax expense			-				(2,948	)		(2,101	)			-			-				(5,049	)
Net income		$	4,049			$	4,049		$	3,304			$	4,049		$	(8,098	)		$	7,353


CONDENSED CONSOLIDATING STATEMENT OF OPERATIONS
Three Months Ended March 31, 2013
(in thousands)

						Nexstar							Nexstar							Consolidated
		Nexstar				Broadcasting			Mission				Holdings			Eliminations				Company
Net broadcast revenue (including trade and barter)		$	-			$	105,110		$	7,095			$	-		$	-			$	112,205
Revenue between consolidated entities			-				2,405			9,262				-			(11,667	)			-
Net revenue			-				107,515			16,357				-			(11,667	)			112,205
Operating expenses:
Direct operating expenses, excluding depreciation and amortization			-				30,756			3,348				-			-				34,104
Selling, general, and administrative expenses, excluding depreciation and amortization			-				34,703			797				-			-				35,500
Local service agreement fees between consolidated entities			-				9,262			2,405				-			(11,667	)			-
Amortization of broadcast rights			-				7,214			1,599				-			-				8,813
Amortization of intangible assets			-				5,924			2,066				-			-				7,990
Depreciation			-				7,012			968				-			-				7,980
Total operating expenses			-				94,871			11,183				-			(11,667	)			94,387
Income from operations			-				12,644			5,174				-			-				17,818
Interest expense, net			-				(12,072	)		(4,477	)			-			-				(16,549	)
Other expense			-				(84	)		-				-			-				(84	)
Equity in income of subsidiaries			282				-			-				282			(564	)			-
Income before income taxes			282				488			697				282			(564	)			1,185
Income tax expense			-				(206	)		(274	)			-			-				(480	)
Net income		$	282			$	282		$	423			$	282		$	(564	)		$	705


CONDENSED CONSOLIDATING STATEMENT OF CASH FLOWS
Three Months Ended March 31, 2014
(in thousands)

						Nexstar							Nexstar							Consolidated
		Nexstar				Broadcasting			Mission				Holdings			Eliminations				Company
Cash flows from operating activities		$	-			$	46,269		$	(1,538	)		$	-		$	-			$	44,731

Cash flows from investing activities:
Purchases of property and equipment			-				(3,899	)		(84	)			-			-				(3,983	)
Deposits and payments for acquisitions			-				(22,057	)		-				-			-				(22,057	)
Other investing activities			-				14			-				-			-				14
Net cash used in investing activities			-				(25,942	)		(84	)			-			-				(26,026	)

Cash flows from financing activities:
Repayments of long-term debt			-				(2,155	)		(1,455	)			-			-				(3,610	)
Common stock dividends paid			(4,588	)			-			-				-			-				(4,588	)
Inter-company payments			4,481				(4,481	)		-				-			-				-
Other financing activities			107				10			(72	)			-			-				45
Net cash used in financing activities			-				(6,626	)		(1,527	)			-			-				(8,153	)
Net increase (decrease) in cash and cash equivalents			-				13,701			(3,149	)			-			-				10,552
Cash and cash equivalents at beginning of period			-				36,312			3,716				-			-				40,028
Cash and cash equivalents at end of period		$	-			$	50,013		$	567			$	-		$	-			$	50,580


CONDENSED CONSOLIDATING STATEMENT OF CASH FLOWS
Three Months Ended March 31, 2013
(in thousands)

						Nexstar							Nexstar							Consolidated
		Nexstar				Broadcasting			Mission				Holdings			Eliminations				Company
Cash flows from operating activities		$	-			$	15,546		$	(2,441	)		$	-		$	-			$	13,105

Cash flows from investing activities:
Purchases of property and equipment			-				(6,766	)		(20	)			-			-				(6,786	)
Payments for acquisitions			-				(61,776	)		(59,338	)			-			-				(121,114	)
Other investing activities			-				6			-				-			-				6
Net cash used in investing activities			-				(68,536	)		(59,358	)			-			-				(127,894	)

Cash flows from financing activities:
Proceeds from issuance of long-term debt			-				5,000			65,000				-			-				70,000
Repayments of long-term debt			-				(10	)		-				-			-				(10	)
Common stock dividends paid			(3,529	)			-			-				-			-				(3,529	)
Inter-company payments			2,074				(2,074	)		-				-			-				-
Other financing activities			1,455				3,349			(2,850	)			-			-				1,954
Net cash provided by financing activities			-				6,265			62,150				-			-				68,415
Net (decrease) increase in cash and cash equivalents			-				(46,725	)		351				-			-				(46,374	)
Cash and cash equivalents at beginning of period			-				68,681			318				-			-				68,999
Cash and cash equivalents at end of period		$	-			$	21,956		$	669			$	-		$	-			$	22,625

Subsequent_Events

Subsequent Events	3 Months Ended
	Mar. 31, 2014
Subsequent Events [Abstract]	'
Subsequent Events	'
	10	Subsequent Events

	Effective April 1, 2014, Nexstar acquired the assets of IBS, a digital publishing platform and digital agency services provider, for a total purchase price of $20.0 million, subject to adjustments for working capital, funded by cash on hand. The acquisition broadens Nexstar’s digital media portfolio with technologies and offerings that are complementary to Nexstar’s digital businesses and multi-screen strategies. No significant transaction costs relating to this acquisition were incurred during the three months ended March 31, 2014. Due to the timing of this acquisition, certain disclosures, including the allocation of the purchase price, have been omitted because the initial accounting for the business combination was incomplete as of the filing date.

	On April 25, 2014, Nexstar’s Board of Directors declared a quarterly dividend of $0.15 per share of its Class A common stock. The dividend is payable on May 30, 2014 to stockholders of record on May 16, 2014.

	Effective April 30, 2014, Nexstar and Mission amended each of their credit agreements. The amendments reduced Nexstar’s and Mission’s commitments under the Term Loan A Facilities to $112.2 million and $60.0 million, respectively. Nexstar may also reallocate its unused Term Loan A Facility to Mission and Mission may reallocate its unused Term Loan A Facility to Nexstar. Additionally, the amendments increased the commitment fees on unused Term Loan A Facilities to 1.0% and extended the quarterly principal payments to commence on December 31, 2014. On May 5, 2014, Nexstar prepaid $3.2 million of the outstanding principal balance under its Term Loan A pursuant to the terms of its amended credit agreement.

Summary_of_Significant_Account1

Summary of Significant Accounting Policies (Policies)	3 Months Ended
	Mar. 31, 2014
Summary of Significant Accounting Policies [Abstract]	'
Principles of Consolidation	'
	Principles of Consolidation

	The Condensed Consolidated Financial Statements include the accounts of Nexstar. Also included in the Condensed Consolidated Financial Statements are the accounts of independently-owned variable interest entities (“VIEs”), including Mission. Nexstar and the consolidated VIEs are collectively referred to as the “Company”. Where the assets of the consolidated VIEs are not available to be used to settle the obligations of Nexstar, they are presented separately as assets of the consolidated VIEs on the Condensed Consolidated Balance Sheets. Similarly, where the creditors of the consolidated VIEs do not have recourse to the general credit of Nexstar, the related liabilities are presented separately as liabilities of the consolidated VIEs on the Condensed Consolidated Balance Sheets. Nexstar management evaluates each arrangement that may include variable interests and determines the need to consolidate an entity where it determines Nexstar is the primary beneficiary of a VIE in accordance with related authoritative literature and interpretive guidance. Certain stations owned by Citadel Communications, L.P. and its related entities (“Citadel”) were considered VIEs as of December 31, 2013. Nexstar completed the acquisition of these stations from Citadel during the first quarter of 2014 and are no longer VIEs as of March 31, 2014.

	All intercompany account balances and transactions have been eliminated in consolidation.
Interim Financial Statements	'
	Interim Financial Statements

	The Condensed Consolidated Financial Statements as of March 31, 2014 and for the three months ended March 31, 2014 and 2013 are unaudited. However, in the opinion of management, such financial statements include all adjustments (consisting solely of normal recurring adjustments) necessary for the fair statement of the financial information included herein in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”) and pursuant to the rules and regulations of the Securities and Exchange Commission (the “SEC”). The preparation of the Condensed Consolidated Financial Statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and the disclosure of contingent assets and liabilities at the date of the financial statements and reported amounts of revenue and expenses during the period. Actual results could differ from those estimates. Results of operations for interim periods are not necessarily indicative of results for the full year. These Condensed Consolidated Financial Statements should be read in conjunction with the Consolidated Financial Statements and related Notes included in Nexstar’s Annual Report on Form 10-K for the year ended December 31, 2013. The balance sheet as of December 31, 2013 has been derived from the audited financial statements as of that date, but does not include all of the information and footnotes required by U.S. GAAP for complete financial statements.

Variable Interest Entities	'
	Variable Interest Entities

	Nexstar may determine that a station is a VIE as a result of local service agreements entered into with the owner-operator of the station. The term local service agreements generally refers to a contract between separately owned television stations serving the same market, whereby the owner-operator of one station contracts with the owner-operator of the other station to provide it with administrative, sales and other services required for the operation of its station. Nevertheless, the owner-operator of each station retains control and responsibility for the operation of its station, including ultimate responsibility over all programming broadcast on its station. In addition to those with Mission, Nexstar has VIEs in connection with local service agreements entered into with stations as discussed below.
Financial Instruments	'
	Financial Instruments

	The carrying amounts of cash and cash equivalents, accounts receivable, broadcast rights payable, accounts payable and accrued expenses approximate fair value due to their short-term nature. See Note 6 for fair value disclosures related to the Company’s debt.
Income Per Share	'
	Income Per Share

	Basic income per share is computed by dividing the net income by the weighted-average number of common shares outstanding during the period. Diluted income per share is computed using the weighted-average number of common shares and potentially dilutive common shares outstanding during the period. Potentially dilutive common shares are calculated using the treasury stock method. They consist of stock options outstanding during the period and reflect the potential dilution that could occur if common stock were issued upon exercise of stock options. The following table shows the amounts used in computing the Company’s diluted shares (in thousands):

		Three Months Ended
		March 31,
		2014		2013
	Weighted average shares outstanding - basic		30,603		29,461
	Effect of dilutive stock options		1,306		1,593
	Weighted average shares outstanding - diluted		31,909		31,054

	Stock options to purchase 621,000 shares of Class A common stock were excluded from the computation of diluted earnings per share for the three months ended March 31, 2014 because their impact would have been antidilutive. No stock options were excluded from the computation of dilutive earnings per share for the three months ended March 31, 2013.

Basis of Presentation	'
	Basis of Presentation

	Certain prior year financial statement amounts have been reclassified to conform to the current year presentation. These reclassifications had no effect on net income or stockholders’ deficit as previously reported.

Summary_of_Significant_Account2

Summary of Significant Accounting Policies (Tables)	3 Months Ended
	Mar. 31, 2014
Summary of Significant Accounting Policies [Abstract]	'
Weighted Average Shares Outstanding	'
	The following table shows the amounts used in computing the Company’s diluted shares (in thousands):

		Three Months Ended
		March 31,
		2014		2013
	Weighted average shares outstanding - basic		30,603		29,461
	Effect of dilutive stock options		1,306		1,593
	Weighted average shares outstanding - diluted		31,909		31,054

Acquisitions_Tables

Acquisitions (Tables) (Citadel [Member])	3 Months Ended
Acquisitions (Tables) (Citadel [Member])	Mar. 31, 2014
Citadel [Member]	'
Business Acquisition [Line Items]	'
Fair Values 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	$	269
	Prepaid expenses and other current assets		305
	Property and equipment		10,613
	FCC licenses		24,700
	Network affiliation agreements		26,129
	Other intangible assets		3,398
	Goodwill		30,195
	Other assets		1,807
	Total assets acquired		97,416
	Less: Broadcast rights payable		(269	)
	Less: Accounts payable and accrued expenses		(397	)
	Less: Deferred tax liabilities		(8,801	)
	Net assets acquired	$	87,949

Intangible_Assets_and_Goodwill1

Intangible Assets and Goodwill (Tables)	3 Months Ended
Intangible Assets and Goodwill (Tables)	Mar. 31, 2014
Intangible Assets and Goodwill [Abstract]	'
Intangible Assets Subject to Amortization	'
	Intangible assets subject to amortization consisted of the following (in thousands):

			Estimated			31-Mar-14											31-Dec-13
			useful life,							Accumulated											Accumulated
			in years			Gross				Amortization				Net			Gross				Amortization				Net
	Network affiliation agreements			15			$	441,811			$	(296,291	)		$	145,520		$	441,811			$	(291,154	)		$	150,657
	Other definite-lived intangible assets			15-Jan				33,435				(22,613	)			10,822			33,435				(21,557	)			11,878
	Other intangible assets						$	475,246			$	(318,904	)		$	156,342		$	475,246			$	(312,711	)		$	162,535
Estimated Amortization Expense of Definite Lived Intangibles Assets	'
	The following table presents the Company’s estimate of amortization expense for the remainder of 2014, each of the five succeeding years ended December 31 and thereafter for definite-lived intangible assets as of March 31, 2014 (in thousands):

	Remainder of 2014		$	16,193
	2015			20,053
	2016			15,261
	2017			14,557
	2018			12,231
	2019			10,760
	Thereafter			67,287
			$	156,342
Goodwill and FCC Licenses	'
	The amounts recorded to goodwill and FCC licenses were as follows (in thousands):

		Goodwill												FCC Licenses
						Accumulated											Accumulated
		Gross				Impairment				Net				Gross			Impairment				Net
	Balance as of December 31, 2013		$	244,043			$	(45,991	)		$	198,052			$	338,441		$	(49,421	)		$	289,020
	Citadel acquisitions (See Note 3)			(19	)			-				(19	)			-			-				-
	Balance as of March 31, 2014		$	244,024			$	(45,991	)		$	198,033			$	338,441		$	(49,421	)		$	289,020

Accrued_Expenses_Tables

Accrued Expenses (Tables)	3 Months Ended
Accrued Expenses (Tables)	Mar. 31, 2014
Accrued Expenses [Abstract]	'
Accrued Expenses	'
	Accrued expenses consisted of the following (in thousands):

		March 31,		December 31,
		2014		2013
	Compensation and related taxes	$	5,053	$	9,744
	Sales commissions		2,607		2,556
	Employee benefits		1,680		1,354
	Property taxes		895		649
	Other		9,884		9,839
		$	20,119	$	24,142

Debt_Tables

Debt (Tables)	3 Months Ended
Debt (Tables)	Mar. 31, 2014
Debt [Abstract]	'
Long Term Debt	'
	Long-term debt consisted of the following (in thousands):

			March 31,				December 31,
			2014				2013
	Term loans, net of discount of $1,491 and $1,554, respectively		$	541,903			$	545,450
	6.875% Senior unsecured notes due 2020, including premium of $649 and $669, respectively			525,649				525,669
				1,067,552				1,071,119
	Less: current portion			(6,174	)			(6,857	)
			$	1,061,378			$	1,064,262
Fair Value of Debt	'
	The aggregate carrying amounts and estimated fair values of the Company’s debt were as follows (in thousands):

		31-Mar-14								31-Dec-13
		Carrying Amount				Fair Value				Carrying Amount			Fair Value
	Term loans(1)		$	541,903			$	544,170			$	545,450		$	546,818
	6.875% Senior unsecured notes(2)			525,649				563,719				525,669			561,750
	_________________________
	-1		The fair value of senior secured credit facilities is computed based on borrowing rates currently available to Nexstar and Mission for bank loans with similar terms and average maturities. These fair value measurements are considered Level 3, as significant inputs to the fair value calculation are unobservable in the market.
	-2		The fair value of Nexstar’s fixed rate debt is estimated based on bid prices obtained from an investment banking firm that regularly makes a market for these financial instruments. These fair value measurements are considered Level 2, as quoted market prices are available for low volume trading of these securities.

Condensed_Consolidating_Financ1

Condensed Consolidating Financial Information (Tables)	3 Months Ended
Condensed Consolidating Financial Information (Tables)	Mar. 31, 2014
Condensed Consolidating Financial Information [Abstract]	'
Schedule of Condensed Consolidating Balance Sheet	'
	CONDENSED CONSOLIDATING BALANCE SHEET
	As of March 31, 2014
	(in thousands)

							Nexstar								Nexstar							Consolidated
			Nexstar				Broadcasting				Mission				Holdings			Eliminations				Company
	ASSETS
	Current assets:
	Cash and cash equivalents		$	-			$	50,013			$	567			$	-		$	-			$	50,580
	Due from Nexstar Broadcasting			-				-				4,356				-			(4,356	)			-
	Other current assets			-				138,358				15,591				-			-				153,949
	Total current assets			-				188,371				20,514				-			(4,356	)			204,529
	Investments in subsidiaries eliminated upon consolidation			65,149				-				-				80,391			(145,540	)			-
	Amounts due from parents eliminated upon consolidation			-				17,545				-				-			(17,545	)			-
	Property and equipment, net			-				179,366				26,111				-			-				205,477
	Goodwill			-				165,544				32,489				-			-				198,033
	FCC licenses			-				247,457				41,563				-			-				289,020
	Other intangible assets, net			-				133,077				23,265				-			-				156,342
	Other noncurrent assets			-				66,655				28,737				-			-				95,392
	Total assets		$	65,149			$	998,015			$	172,679			$	80,391		$	(167,441	)		$	1,148,793
	LIABILITIES AND STOCKHOLDERS' EQUITY (DEFICIT)
	Current liabilities:
	Current portion of debt		$	-			$	4,337			$	1,837			$	-		$	-			$	6,174
	Due to Mission			-				4,356				-				-			(4,356	)			-
	Other current liabilities			-				58,218				5,462				-			-				63,680
	Total current liabilities			-				66,911				7,299				-			(4,356	)			69,854
	Debt			-				832,188				229,190				-			-				1,061,378
	Amounts due to subsidiary eliminated upon consolidation			2,305				-				-				15,240			(17,545	)			-
	Other noncurrent liabilities			(3	)			18,525				7,479				2			-				26,003
	Total liabilities			2,302				917,624				243,968				15,242			(21,901	)			1,157,235
	Stockholders' equity (deficit):
	Common stock			306				-				-				-			-				306
	Other stockholders' equity (deficit)			62,541				80,391				(71,289	)			65,149			(145,540	)			(8,748	)
	Total stockholders' equity (deficit)			62,847				80,391				(71,289	)			65,149			(145,540	)			(8,442	)
	Total liabilities and stockholders' equity (deficit)		$	65,149			$	998,015			$	172,679			$	80,391		$	(167,441	)		$	1,148,793




	CONDENSED CONSOLIDATING BALANCE SHEET
	As of December 31, 2013
	(in thousands)

							Nexstar								Nexstar							Consolidated
			Nexstar				Broadcasting				Mission				Holdings			Eliminations				Company
	ASSETS
	Current assets:
	Cash and cash equivalents		$	-			$	36,312			$	3,716			$	-		$	-			$	40,028
	Due from Mission			-				3,847				-				-			(3,847	)			-
	Other current assets			-				146,298				14,840				-			-				161,138
	Total current assets			-				186,457				18,556				-			(3,847	)			201,166
	Investments in subsidiaries eliminated upon consolidation			61,100				-				-				76,342			(137,442	)			-
	Amounts due from subsidiary eliminated upon consolidation			259				-				-				-			(259	)			-
	Amounts due from parents eliminated upon consolidation			-				14,981				-				-			(14,981	)			-
	Property and equipment, net			-				185,499				26,760				-			-				212,259
	Goodwill			-				165,563				32,489				-			-				198,052
	FCC licenses			-				247,457				41,563				-			-				289,020
	Other intangible assets, net			-				138,497				24,038				-			-				162,535
	Other noncurrent assets			-				69,347				31,343				-			-				100,690
	Total assets		$	61,359			$	1,007,801			$	174,749			$	76,342		$	(156,529	)		$	1,163,722
	LIABILITIES AND STOCKHOLDERS' EQUITY (DEFICIT)
	Current liabilities:
	Current portion of debt		$	-			$	4,523			$	2,334			$	-		$	-			$	6,857
Due to Nexstar Broadcasting			-				-				3,847				-			(3,847	)			-
Other current liabilities			-				72,115				4,950				-			-				77,065
Total current liabilities			-				76,638				11,131				-			(3,847	)			83,922
Debt			-				834,131				230,131				-			-				1,064,262
Amounts due to subsidiary eliminated upon consolidation			-				-				-				15,240			(15,240	)			-
Other noncurrent liabilities			(3	)			20,690				8,080				2			-				28,769
Total liabilities			(3	)			931,459				249,342				15,242			(19,087	)			1,176,953
Stockholders' equity (deficit):
Common stock			306				-				-				-			-				306
Other stockholders' equity (deficit)			61,056				76,342				(74,593	)			61,100			(137,442	)			(13,537	)
Total stockholders' equity (deficit)			61,362				76,342				(74,593	)			61,100			(137,442	)			(13,231	)
Total liabilities and
stockholders' equity (deficit)		$	61,359			$	1,007,801			$	174,749			$	76,342		$	(156,529	)		$	1,163,722







Schedule of Condensed Consolidating Statement of Operations	'

	CONDENSED CONSOLIDATING STATEMENT OF OPERATIONS
	Three Months Ended March 31, 2014
	(in thousands)

							Nexstar								Nexstar							Consolidated
			Nexstar				Broadcasting				Mission				Holdings			Eliminations				Company
	Net broadcast revenue (including trade and barter)		$	-			$	124,953			$	8,880			$	-		$	-			$	133,833
	Revenue between consolidated entities			-				2,445				9,648				-			(12,093	)			-
	Net revenue			-				127,398				18,528				-			(12,093	)			133,833
	Operating expenses:
	Direct operating expenses, excluding depreciation and amortization			-				37,483				4,366				-			-				41,849
	Selling, general, and administrative expenses, excluding depreciation and amortization			-				40,217				823				-			-				41,040
	Local service agreement fees between consolidated entities			-				9,648				2,445				-			(12,093	)			-
	Amortization of broadcast rights			-				7,142				1,490				-			-				8,632
	Amortization of intangible assets			-				5,420				773				-			-				6,193
	Depreciation			-				7,686				733				-			-				8,419
	Total operating expenses			-				107,596				10,630				-			(12,093	)			106,133
	Income from operations			-				19,802				7,898				-			-				27,700
	Interest expense, net			-				(12,677	)			(2,493	)			-			-				(15,170	)
	Other expenses			-				(128	)			-				-			-				(128	)
	Equity in income of subsidiaries			4,049				-				-				4,049			(8,098	)			-
	Income before income taxes			4,049				6,997				5,405				4,049			(8,098	)			12,402
	Income tax expense			-				(2,948	)			(2,101	)			-			-				(5,049	)
	Net income		$	4,049			$	4,049			$	3,304			$	4,049		$	(8,098	)		$	7,353


	CONDENSED CONSOLIDATING STATEMENT OF OPERATIONS
	Three Months Ended March 31, 2013
	(in thousands)

							Nexstar								Nexstar							Consolidated
			Nexstar				Broadcasting				Mission				Holdings			Eliminations				Company
	Net broadcast revenue (including trade and barter)		$	-			$	105,110			$	7,095			$	-		$	-			$	112,205
	Revenue between consolidated entities			-				2,405				9,262				-			(11,667	)			-
	Net revenue			-				107,515				16,357				-			(11,667	)			112,205
	Operating expenses:
	Direct operating expenses, excluding depreciation and amortization			-				30,756				3,348				-			-				34,104
	Selling, general, and administrative expenses, excluding depreciation and amortization			-				34,703				797				-			-				35,500
	Local service agreement fees between consolidated entities			-				9,262				2,405				-			(11,667	)			-
	Amortization of broadcast rights			-				7,214				1,599				-			-				8,813
	Amortization of intangible assets			-				5,924				2,066				-			-				7,990
	Depreciation			-				7,012				968				-			-				7,980
	Total operating expenses			-				94,871				11,183				-			(11,667	)			94,387
	Income from operations			-				12,644				5,174				-			-				17,818
	Interest expense, net			-				(12,072	)			(4,477	)			-			-				(16,549	)
	Other expense			-				(84	)			-				-			-				(84	)
	Equity in income of subsidiaries			282				-				-				282			(564	)			-
	Income before income taxes			282				488				697				282			(564	)			1,185
	Income tax expense			-				(206	)			(274	)			-			-				(480	)
	Net income		$	282			$	282			$	423			$	282		$	(564	)		$	705






Schedule of Condensed Consolidating Cash Flow Statement	'

	CONDENSED CONSOLIDATING STATEMENT OF CASH FLOWS
	Three Months Ended March 31, 2014
	(in thousands)

							Nexstar								Nexstar							Consolidated
			Nexstar				Broadcasting				Mission				Holdings			Eliminations				Company
	Cash flows from operating activities		$	-			$	46,269			$	(1,538	)		$	-		$	-			$	44,731

	Cash flows from investing activities:
	Purchases of property and equipment			-				(3,899	)			(84	)			-			-				(3,983	)
	Deposits and payments for acquisitions			-				(22,057	)			-				-			-				(22,057	)
	Other investing activities			-				14				-				-			-				14
	Net cash used in investing activities			-				(25,942	)			(84	)			-			-				(26,026	)

	Cash flows from financing activities:
	Repayments of long-term debt			-				(2,155	)			(1,455	)			-			-				(3,610	)
	Common stock dividends paid			(4,588	)			-				-				-			-				(4,588	)
	Inter-company payments			4,481				(4,481	)			-				-			-				-
	Other financing activities			107				10				(72	)			-			-				45
	Net cash used in financing activities			-				(6,626	)			(1,527	)			-			-				(8,153	)
	Net increase (decrease) in cash and cash equivalents			-				13,701				(3,149	)			-			-				10,552
	Cash and cash equivalents at beginning of period			-				36,312				3,716				-			-				40,028
	Cash and cash equivalents at end of period		$	-			$	50,013			$	567			$	-		$	-			$	50,580


	CONDENSED CONSOLIDATING STATEMENT OF CASH FLOWS
	Three Months Ended March 31, 2013
	(in thousands)

							Nexstar								Nexstar							Consolidated
			Nexstar				Broadcasting				Mission				Holdings			Eliminations				Company
	Cash flows from operating activities		$	-			$	15,546			$	(2,441	)		$	-		$	-			$	13,105

	Cash flows from investing activities:
	Purchases of property and equipment			-				(6,766	)			(20	)			-			-				(6,786	)
	Payments for acquisitions			-				(61,776	)			(59,338	)			-			-				(121,114	)
	Other investing activities			-				6				-				-			-				6
	Net cash used in investing activities			-				(68,536	)			(59,358	)			-			-				(127,894	)

	Cash flows from financing activities:
	Proceeds from issuance of long-term debt			-				5,000				65,000				-			-				70,000
	Repayments of long-term debt			-				(10	)			-				-			-				(10	)
	Common stock dividends paid			(3,529	)			-				-				-			-				(3,529	)
	Inter-company payments			2,074				(2,074	)			-				-			-				-
	Other financing activities			1,455				3,349				(2,850	)			-			-				1,954
	Net cash provided by financing activities			-				6,265				62,150				-			-				68,415
	Net (decrease) increase in cash and cash equivalents			-				(46,725	)			351				-			-				(46,374	)
	Cash and cash equivalents at beginning of period			-				68,681				318				-			-				68,999
	Cash and cash equivalents at end of period		$	-			$	21,956			$	669			$	-		$	-			$	22,625

Organization_and_Business_Oper1

Organization and Business Operations (Details)	3 Months Ended
	Mar. 31, 2014
	Segment
	Market
	Channel
	TelevisionStation
Organization and Business Operations [Abstract]	'
Number of markets in various states	44
Number of television stations owned or operated by independent third parties	21
Number of digital multicast channels owned or operated by independent third parties	5
Number of reportable segments	1
Nexstar [Member]	'
Television stations and digital multi channel by affiliates [Line Items]	'
Number of television stations owned, operated, programmed or provided sales and other services	74
Number of digital multi-cast channels owned, operated, programmed or provided sales and other services to	19
ABC [Member]	'
Television stations and digital multi channel by affiliates [Line Items]	'
Number of television stations owned, operated, programmed or provided sales and other services	19
NBC [Member]	'
Television stations and digital multi channel by affiliates [Line Items]	'
Number of television stations owned, operated, programmed or provided sales and other services	16
FOX [Member]	'
Television stations and digital multi channel by affiliates [Line Items]	'
Number of television stations owned, operated, programmed or provided sales and other services	13
CBS [Member]	'
Television stations and digital multi channel by affiliates [Line Items]	'
Number of television stations owned, operated, programmed or provided sales and other services	13
The CW [Member]	'
Television stations and digital multi channel by affiliates [Line Items]	'
Number of television stations owned, operated, programmed or provided sales and other services	6
Number of digital multi-cast channels owned, operated, programmed or provided sales and other services to	2
MyNetworkTV [Member]	'
Television stations and digital multi channel by affiliates [Line Items]	'
Number of television stations owned, operated, programmed or provided sales and other services	5
Number of digital multi-cast channels owned, operated, programmed or provided sales and other services to	2
Telemundo [Member]	'
Television stations and digital multi channel by affiliates [Line Items]	'
Number of television stations owned, operated, programmed or provided sales and other services	1
Number of digital multi-cast channels owned, operated, programmed or provided sales and other services to	1
Bounce TV [Member]	'
Television stations and digital multi channel by affiliates [Line Items]	'
Number of digital multi-cast channels owned, operated, programmed or provided sales and other services to	9
Me-TV [Member]	'
Television stations and digital multi channel by affiliates [Line Items]	'
Number of digital multi-cast channels owned, operated, programmed or provided sales and other services to	2
LiveWell [Member]	'
Television stations and digital multi channel by affiliates [Line Items]	'
Number of digital multi-cast channels owned, operated, programmed or provided sales and other services to	2
LATV [Member]	'
Television stations and digital multi channel by affiliates [Line Items]	'
Number of digital multi-cast channels owned, operated, programmed or provided sales and other services to	1
Independent Station [Member]	'
Television stations and digital multi channel by affiliates [Line Items]	'
Number of television stations owned, operated, programmed or provided sales and other services	1

Summary_of_Significant_Account3

Summary of Significant Accounting Policies (Details) (USD $)	3 Months Ended
	Mar. 31, 2014	Mar. 31, 2013	Dec. 31, 2013
Mission [Abstract]	'	'	'
FCC licenses of consolidated variable interest entities	$41,563,000	'	$66,263,000
Goodwill	198,033,000	'	198,052,000
Other intangible assets, net	156,342,000	'	162,535,000
Property and equipment, net	205,477,000	'	212,259,000
Deferred tax assets	26,676,000	'	30,898,000
Other noncurrent assets	68,716,000	'	69,792,000
Earnings Per Share, Diluted, Other Disclosures [Abstract]	'	'	'
Weighted average shares outstanding - basic (in shares)	30,603,000	29,461,000	'
Effect of dilutive stock options (in shares)	1,306,000	1,593,000	'
Weighted average shares outstanding - diluted (in shares)	31,909,000	31,054,000	'
Stock Options [Member]	'	'	'
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]	'	'	'
Options excluded from computation of diluted earnings per share (in shares)	621,000	0	'
Mission [Member]	'	'	'
Mission [Abstract]	'	'	'
Current assets excluding broadcasting rights	15,000,000	'	'
Broadcast rights	2,200,000	'	'
FCC licenses of consolidated variable interest entities	41,600,000	'	'
Goodwill	32,500,000	'	'
Other intangible assets, net	23,300,000	'	'
Property and equipment, net	26,100,000	'	'
Deferred tax assets	23,800,000	'	'
Other noncurrent assets	3,900,000	'	'
Sinclair [Member]	'	'	'
Variable Interest Entities [Abstract]	'	'	'
Payments made under outsourcing agreement	'	1,200,000	'
Cunningham [Member]	'	'	'
Variable Interest Entities [Abstract]	'	'	'
Payments made under outsourcing agreement	300,000	'	'
Sinclair and Cunningham [Member]	'	'	'
Variable Interest Entities [Abstract]	'	'	'
Accounts payable for fees	300,000	'	1,800,000
Receivable for advertisements	$1,100,000	'	$2,500,000

Acquisitions_Details

Acquisitions (Details) (USD $)

3 Months Ended

0 Months Ended

3 Months Ended

0 Months Ended

Mar. 31, 2014

Mar. 31, 2013

Dec. 31, 2013

Mar. 31, 2014

Mar. 31, 2013

Mar. 31, 2014

Mar. 31, 2013

Mar. 13, 2014

Sep. 16, 2013

Mar. 31, 2014

Dec. 31, 2013

Mar. 31, 2014

Dec. 31, 2013

Mar. 31, 2014

Apr. 24, 2013

Mar. 31, 2014

Sep. 13, 2013

Mar. 31, 2014

Nov. 06, 2013

Mar. 31, 2014

Dec. 18, 2013

Apr. 01, 2014

Nexstar [Member]

Mission [Member]

Citadel [Member]

CCA/White Knight [Member]

Stainless [Member]

Grant [Member]

Gray TV Excalibur [Member]

Excalibur [Member]

Internet Broadcasting Systems [Member]

Market

TelevisionStation

KCAU and WHBF [Member]

WOI [Member]

TelevisionStation

Nexstar [Member]

Mission [Member]

Rocky Creek Communications, Inc. [Member]

Market

Mission [Member]

TelevisionStation

Nexstar [Member]

Mission [Member]

Market

TelevisionStation

Market

Business Acquisition [Line Items]

Variable interest entity, qualitative or quantitative information, date involvement began

16-Sep-13

Number of television stations to be acquired

Number of television markets of stations to be acquired

Purchase price of entities acquired or to be acquired

$87,900,000

$270,000,000

$15,300,000

$87,500,000

$15,300,000

$33,500,000

$4,000,000

$20,000,000

Cash paid in business acquisition

22,000,000

44,900,000

21,000,000

Amounts payable to sellers for acquisition of stations

22,000,000

Decrease in goodwill recorded in acquisition

19,000

New television markets to be entered

New television markets entered

Acquisition related costs

100,000

200,000

Estimated fair values of assets acquired and liabilities assumed [Abstract]

Broadcast rights

269,000

Prepaid expenses and other current assets

305,000

Property and equipment

10,613,000

FCC licenses

24,700,000

Network affiliation agreements

26,129,000

Other intangible assets

3,398,000

Goodwill

30,195,000

Other assets

1,807,000

Total assets acquired

97,416,000

Less: Broadcast rights payable

-269,000

Less: Accounts payable and accrued expenses

-397,000

Less: Deferred tax liabilities

-8,801,000

Net assets acquired

87,949,000

Estimated useful life

'15 years

Weighted average estimated useful life of other intangible assets

'1 month

Goodwill expected to be deductible for tax purposes

10,700,000

Indefinite lived intangible assets expected to be deductible for tax purposes

14,700,000

Goodwill not deductible for tax purposes until disposal

19,500,000

Indefinite lived intangible assets not deductible for tax purposes until disposal

10,000,000

Finite lived intangible assets not deductible for tax purposes until disposal

11,000,000

Revenue included in consolidated statement of operations

133,833,000

112,205,000

18,528,000

16,357,000

5,700,000

Net income from operations included in consolidated statement of operations

7,353,000

705,000

4,049,000

282,000

3,304,000

423,000

100,000

Acquisition date

13-Mar-14

1-Apr-14

New market duopolies to be operated

Deposit paid upon signing an agreement to acquire a business

$27,000,000

$200,000

$8,500,000

Intangible_Assets_and_Goodwill2

Intangible Assets and Goodwill (Details) (USD $)	3 Months Ended	12 Months Ended
In Thousands, unless otherwise specified	Mar. 31, 2014	Dec. 31, 2013
Finite-Lived Intangible Assets [Line Items]	'	'
Gross	$475,246	$475,246
Accumulated Amortization	-318,904	-312,711
Net	156,342	162,535
Estimated amortization expense of definite lived intangibles assets [Abstract]	'	'
Remainder of 2014	16,193	'
2015	20,053	'
2016	15,261	'
2017	14,557	'
2018	12,231	'
2019	10,760	'
Thereafter	67,287	'
Net	156,342	162,535
Goodwill [Roll Forward]	'	'
Goodwill, Gross	244,024	244,043
Goodwill, Accumulated Impairment	-45,991	-45,991
Goodwill, Net	198,033	198,052
Goodwill Acquisitions Gross	-19	'
Goodwill Acquisitions Accumulated Impairment	0	'
Goodwill Acquisitions, Net	-19	'
FCC Licenses [Abstract]	'	'
FCC Licenses, Gross	338,441	338,441
FCC Licenses, Accumulated Impairment	-49,421	-49,421
FCC Licenses, Net	289,020	289,020
FCC Licenses Acquisitions, Gross	0	'
FCC Licenses Acquisitions, Impairment	0	'
FCC Licenses Acquisitions, Net	0	'
Network affiliation agreements [Member]	'	'
Finite-Lived Intangible Assets [Line Items]	'	'
Estimated useful life, in years	'15 years	'15 years
Gross	441,811	441,811
Accumulated Amortization	-296,291	-291,154
Net	145,520	150,657
Estimated amortization expense of definite lived intangibles assets [Abstract]	'	'
Net	145,520	150,657
Other definite-lived intangible assets [Member]	'	'
Finite-Lived Intangible Assets [Line Items]	'	'
Gross	33,435	33,435
Accumulated Amortization	-22,613	-21,557
Net	10,822	11,878
Estimated amortization expense of definite lived intangibles assets [Abstract]	'	'
Net	$10,822	$11,878
Other definite-lived intangible assets [Member] \| Minimum [Member]	'	'
Finite-Lived Intangible Assets [Line Items]	'	'
Estimated useful life, in years	'1 year	'1 year
Other definite-lived intangible assets [Member] \| Maximum [Member]	'	'
Finite-Lived Intangible Assets [Line Items]	'	'
Estimated useful life, in years	'15 years	'15 years

Accrued_Expenses_Details

Accrued Expenses (Details) (USD $)	Mar. 31, 2014	Dec. 31, 2013
In Thousands, unless otherwise specified	Mar. 31, 2014	Dec. 31, 2013
Accrued Expenses [Abstract]	'	'
Compensation and related taxes	$5,053	$9,744
Sales commissions	2,607	2,556
Employee benefits	1,680	1,354
Property taxes	895	649
Other	9,884	9,839
Accrued expenses	$20,119	$24,142

Debt_Details

Debt (Details) (USD $)	3 Months Ended		12 Months Ended
Debt (Details) (USD $)	Mar. 31, 2014		Dec. 31, 2013
Long term Debt [Abstract]	'		'
Debt	$1,067,552,000		$1,071,119,000
Less: current portion	-6,174,000		-6,857,000
Debt, noncurrent	1,061,378,000		1,064,262,000
Debt Covenants [Abstract]	'		'
Maximum consolidated total net leverage ratio	'7.25 to 1.00		'7.25 to 1.00
Maximum consolidated first lien net leverage ratio	'4.0 to 1.00		'4.0 to 1.00
Minimum consolidated fixed charge coverage ratio	'1.20 to 1.00		'1.20 to 1.00
Carrying Amount [Member]	'		'
Fair Value of debt [Line Items]	'		'
Term loans	541,903,000	[1]	545,450,000	[1]
6.875% Senior unsecured notes	525,649,000	[2]	525,669,000	[2]
Fair Value [Member]	'		'
Fair Value of debt [Line Items]	'		'
Term loans	544,170,000	[1]	546,818,000	[1]
6.875% Senior unsecured notes	563,719,000	[2]	561,750,000	[2]
Nexstar [Member]	'		'
Long term Debt [Abstract]	'		'
Less: current portion	0		0
Debt, noncurrent	0		0
2014 Transactions [Abstract]	'		'
Payment of contractual maturities under senior secured credit facilities	500,000		'
Mission [Member]	'		'
Long term Debt [Abstract]	'		'
Less: current portion	-1,837,000		-2,334,000
Debt, noncurrent	229,190,000		230,131,000
2014 Transactions [Abstract]	'		'
Payment of contractual maturities under senior secured credit facilities	500,000		'
Term A Loan [Member]	'		'
Unused commitments and Borrowings Availability [Abstract]	'		'
Available borrowing capacity	184,000,000		'
Term A Loan [Member] \| Nexstar [Member]	'		'
2014 Transactions [Abstract]	'		'
Prepayment of outstanding principal balance	500,000		'
Revolving credit facility [Member]	'		'
Unused commitments and Borrowings Availability [Abstract]	'		'
Available borrowing capacity	105,000,000		'
6.875% Sr. Unsecured Notes due 2020 [Member]	'		'
Long term Debt [Abstract]	'		'
Debt	525,649,000		525,669,000
Debt premium	649,000		669,000
Interest rate (in hundredths)	6.88%		6.88%
Term Loans [Member]	'		'
Long term Debt [Abstract]	'		'
Debt	541,903,000		545,450,000
Debt discount	1,491,000		1,554,000
Term Loan B-2 [Member] \| Nexstar [Member]	'		'
2014 Transactions [Abstract]	'		'
Prepayment of outstanding principal balance	1,100,000		'
Term Loan B-2 [Member] \| Mission [Member]	'		'
2014 Transactions [Abstract]	'		'
Prepayment of outstanding principal balance	$1,000,000		'

[1]	The fair value of senior secured credit facilities is computed based on borrowing rates currently available to Nexstar and Mission for bank loans with similar terms and average maturities. These fair value measurements are considered Level 3, as significant inputs to the fair value calculation are unobservable in the market.
[2]	The fair value of Nexstarbs fixed rate debt is estimated based on bid prices obtained from an investment banking firm that regularly makes a market for these financial instruments. These fair value measurements are considered Level 2, as quoted market prices are available for low volume trading of these securities.

Commitments_and_Contingencies_

Commitments and Contingencies (Details) (Guarantee of Mission Debt [Member], USD $)	Mar. 31, 2014
In Millions, unless otherwise specified	Mar. 31, 2014
Guarantee of Mission Debt [Member]	'
Guarantees of Mission Debt [Abstract]	'
Maximum commitment under senior secured credit facility	$351.40
Commitment under senior secured credit facility at carrying value	$231.40

Condensed_Consolidating_Financ2

Condensed Consolidating Financial Information (Details) (Senior note 6.875% due 2020 [Member])	Mar. 31, 2014
Senior note 6.875% due 2020 [Member]	'
Condensed Financial Statements, Captions [Line Items]	'
Interest rate (in hundredths)	6.88%

Condensed_Consolidating_Financ3

Condensed Consolidating Financial Information, Condensed Consolidated Balance Sheets (Details) (USD $)	Mar. 31, 2014	Dec. 31, 2013	Mar. 31, 2013	Dec. 31, 2012
In Thousands, unless otherwise specified	Mar. 31, 2014	Dec. 31, 2013	Mar. 31, 2013	Dec. 31, 2012
Current assets [Abstract]	'	'	'	'
Cash and cash equivalents	$50,580	$40,028	$22,625	$68,999
Due from related parties, current	0	0	'	'
Other current assets	153,949	161,138	'	'
Total current assets	204,529	201,166	'	'
Investments in subsidiaries eliminated upon consolidation	0	0	'	'
Amounts due from subsidiary eliminated upon consolidation	'	0	'	'
Amounts due from parents eliminated upon consolidation	0	0	'	'
Property and equipment, net	205,477	212,259	'	'
Goodwill	198,033	198,052	'	'
FCC licenses	289,020	289,020	'	'
Other intangible assets, net	156,342	162,535	'	'
Other noncurrent assets	95,392	100,690	'	'
Total assets	1,148,793	1,163,722	'	'
Current liabilities [Abstract]	'	'	'	'
Current portion of debt	6,174	6,857	'	'
Due to related parties, current	0	0	'	'
Other current liabilities	63,680	77,065	'	'
Total current liabilities	69,854	83,922	'	'
Debt	1,061,378	1,064,262	'	'
Amounts due to subsidiary eliminated upon consolidation	0	0	'	'
Other noncurrent liabilities	26,003	28,769	'	'
Total liabilities	1,157,235	1,176,953	'	'
Stockholders' equity (deficit) [Abstract]	'	'	'	'
Common stock	306	306	'	'
Other stockholder equity (deficit)	-8,748	-13,537	'	'
Total stockholders' deficit	-8,442	-13,231	'	'
Total liabilities and stockholders' deficit	1,148,793	1,163,722	'	'
Nexstar [Member]	'	'	'	'
Current assets [Abstract]	'	'	'	'
Cash and cash equivalents	0	0	0	0
Due from related parties, current	0	0	'	'
Other current assets	0	0	'	'
Total current assets	0	0	'	'
Investments in subsidiaries eliminated upon consolidation	65,149	61,100	'	'
Amounts due from subsidiary eliminated upon consolidation	'	259	'	'
Amounts due from parents eliminated upon consolidation	0	0	'	'
Property and equipment, net	0	0	'	'
Goodwill	0	0	'	'
FCC licenses	0	0	'	'
Other intangible assets, net	0	0	'	'
Other noncurrent assets	0	0	'	'
Total assets	65,149	61,359	'	'
Current liabilities [Abstract]	'	'	'	'
Current portion of debt	0	0	'	'
Due to related parties, current	0	0	'	'
Other current liabilities	0	0	'	'
Total current liabilities	0	0	'	'
Debt	0	0	'	'
Amounts due to subsidiary eliminated upon consolidation	2,305	0	'	'
Other noncurrent liabilities	-3	-3	'	'
Total liabilities	2,302	-3	'	'
Stockholders' equity (deficit) [Abstract]	'	'	'	'
Common stock	306	306	'	'
Other stockholder equity (deficit)	62,541	61,056	'	'
Total stockholders' deficit	62,847	61,362	'	'
Total liabilities and stockholders' deficit	65,149	61,359	'	'
Nexstar Broadcasting [Member]	'	'	'	'
Current assets [Abstract]	'	'	'	'
Cash and cash equivalents	50,013	36,312	21,956	68,681
Due from related parties, current	0	3,847	'	'
Other current assets	138,358	146,298	'	'
Total current assets	188,371	186,457	'	'
Investments in subsidiaries eliminated upon consolidation	0	0	'	'
Amounts due from subsidiary eliminated upon consolidation	'	0	'	'
Amounts due from parents eliminated upon consolidation	17,545	14,981	'	'
Property and equipment, net	179,366	185,499	'	'
Goodwill	165,544	165,563	'	'
FCC licenses	247,457	247,457	'	'
Other intangible assets, net	133,077	138,497	'	'
Other noncurrent assets	66,655	69,347	'	'
Total assets	998,015	1,007,801	'	'
Current liabilities [Abstract]	'	'	'	'
Current portion of debt	4,337	4,523	'	'
Due to related parties, current	4,356	0	'	'
Other current liabilities	58,218	72,115	'	'
Total current liabilities	66,911	76,638	'	'
Debt	832,188	834,131	'	'
Amounts due to subsidiary eliminated upon consolidation	0	0	'	'
Other noncurrent liabilities	18,525	20,690	'	'
Total liabilities	917,624	931,459	'	'
Stockholders' equity (deficit) [Abstract]	'	'	'	'
Common stock	0	0	'	'
Other stockholder equity (deficit)	80,391	76,342	'	'
Total stockholders' deficit	80,391	76,342	'	'
Total liabilities and stockholders' deficit	998,015	1,007,801	'	'
Mission [Member]	'	'	'	'
Current assets [Abstract]	'	'	'	'
Cash and cash equivalents	567	3,716	669	318
Due from related parties, current	4,356	0	'	'
Other current assets	15,591	14,840	'	'
Total current assets	20,514	18,556	'	'
Investments in subsidiaries eliminated upon consolidation	0	0	'	'
Amounts due from subsidiary eliminated upon consolidation	'	0	'	'
Amounts due from parents eliminated upon consolidation	0	0	'	'
Property and equipment, net	26,111	26,760	'	'
Goodwill	32,489	32,489	'	'
FCC licenses	41,563	41,563	'	'
Other intangible assets, net	23,265	24,038	'	'
Other noncurrent assets	28,737	31,343	'	'
Total assets	172,679	174,749	'	'
Current liabilities [Abstract]	'	'	'	'
Current portion of debt	1,837	2,334	'	'
Due to related parties, current	0	3,847	'	'
Other current liabilities	5,462	4,950	'	'
Total current liabilities	7,299	11,131	'	'
Debt	229,190	230,131	'	'
Amounts due to subsidiary eliminated upon consolidation	0	0	'	'
Other noncurrent liabilities	7,479	8,080	'	'
Total liabilities	243,968	249,342	'	'
Stockholders' equity (deficit) [Abstract]	'	'	'	'
Common stock	0	0	'	'
Other stockholder equity (deficit)	-71,289	-74,593	'	'
Total stockholders' deficit	-71,289	-74,593	'	'
Total liabilities and stockholders' deficit	172,679	174,749	'	'
Nexstar Holdings [Member]	'	'	'	'
Current assets [Abstract]	'	'	'	'
Cash and cash equivalents	0	0	0	0
Due from related parties, current	0	0	'	'
Other current assets	0	0	'	'
Total current assets	0	0	'	'
Investments in subsidiaries eliminated upon consolidation	80,391	76,342	'	'
Amounts due from subsidiary eliminated upon consolidation	'	0	'	'
Amounts due from parents eliminated upon consolidation	0	0	'	'
Property and equipment, net	0	0	'	'
Goodwill	0	0	'	'
FCC licenses	0	0	'	'
Other intangible assets, net	0	0	'	'
Other noncurrent assets	0	0	'	'
Total assets	80,391	76,342	'	'
Current liabilities [Abstract]	'	'	'	'
Current portion of debt	0	0	'	'
Due to related parties, current	0	0	'	'
Other current liabilities	0	0	'	'
Total current liabilities	0	0	'	'
Debt	0	0	'	'
Amounts due to subsidiary eliminated upon consolidation	15,240	15,240	'	'
Other noncurrent liabilities	2	2	'	'
Total liabilities	15,242	15,242	'	'
Stockholders' equity (deficit) [Abstract]	'	'	'	'
Common stock	0	0	'	'
Other stockholder equity (deficit)	65,149	61,100	'	'
Total stockholders' deficit	65,149	61,100	'	'
Total liabilities and stockholders' deficit	80,391	76,342	'	'
Eliminations [Member]	'	'	'	'
Current assets [Abstract]	'	'	'	'
Cash and cash equivalents	0	0	0	0
Due from related parties, current	-4,356	-3,847	'	'
Other current assets	0	0	'	'
Total current assets	-4,356	-3,847	'	'
Investments in subsidiaries eliminated upon consolidation	-145,540	-137,442	'	'
Amounts due from subsidiary eliminated upon consolidation	'	-259	'	'
Amounts due from parents eliminated upon consolidation	-17,545	-14,981	'	'
Property and equipment, net	0	0	'	'
Goodwill	0	0	'	'
FCC licenses	0	0	'	'
Other intangible assets, net	0	0	'	'
Other noncurrent assets	0	0	'	'
Total assets	-167,441	-156,529	'	'
Current liabilities [Abstract]	'	'	'	'
Current portion of debt	0	0	'	'
Due to related parties, current	-4,356	-3,847	'	'
Other current liabilities	0	0	'	'
Total current liabilities	-4,356	-3,847	'	'
Debt	0	0	'	'
Amounts due to subsidiary eliminated upon consolidation	-17,545	-15,240	'	'
Other noncurrent liabilities	0	0	'	'
Total liabilities	-21,901	-19,087	'	'
Stockholders' equity (deficit) [Abstract]	'	'	'	'
Common stock	0	0	'	'
Other stockholder equity (deficit)	-145,540	-137,442	'	'
Total stockholders' deficit	-145,540	-137,442	'	'
Total liabilities and stockholders' deficit	($167,441)	($156,529)	'	'

Condensed_Consolidating_Financ4

Condensed Consolidating Financial Information, Condensed Consolidated Statements of Operations (Details) (USD $)	3 Months Ended
In Thousands, unless otherwise specified	Mar. 31, 2014	Mar. 31, 2013
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS [Abstract]	'	'
Net broadcast revenue (including trade and barter)	$133,833	$112,205
Revenue between consolidated entities	0	0
Net revenue	133,833	112,205
Operating expenses [Abstract]	'	'
Direct operating expenses, excluding depreciation and amortization	41,849	34,104
Selling, general, and administrative expenses, excluding depreciation and amortization	41,040	35,500
Local service agreement fees between consolidated entities	0	0
Amortization of broadcast rights	8,632	8,813
Amortization of intangible assets	6,193	7,990
Depreciation	8,419	7,980
Total operating expenses	106,133	94,387
Income from operations	27,700	17,818
Interest expense, net	-15,170	-16,549
Other expenses	-128	-84
Equity in income of subsidiaries	0	0
Income before income taxes	12,402	1,185
Income tax expense	-5,049	-480
Net income	7,353	705
Nexstar [Member]	'	'
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS [Abstract]	'	'
Net broadcast revenue (including trade and barter)	0	0
Revenue between consolidated entities	0	0
Net revenue	0	0
Operating expenses [Abstract]	'	'
Direct operating expenses, excluding depreciation and amortization	0	0
Selling, general, and administrative expenses, excluding depreciation and amortization	0	0
Local service agreement fees between consolidated entities	0	0
Amortization of broadcast rights	0	0
Amortization of intangible assets	0	0
Depreciation	0	0
Total operating expenses	0	0
Income from operations	0	0
Interest expense, net	0	0
Other expenses	0	0
Equity in income of subsidiaries	4,049	282
Income before income taxes	4,049	282
Income tax expense	0	0
Net income	4,049	282
Nexstar Broadcasting [Member]	'	'
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS [Abstract]	'	'
Net broadcast revenue (including trade and barter)	124,953	105,110
Revenue between consolidated entities	2,445	2,405
Net revenue	127,398	107,515
Operating expenses [Abstract]	'	'
Direct operating expenses, excluding depreciation and amortization	37,483	30,756
Selling, general, and administrative expenses, excluding depreciation and amortization	40,217	34,703
Local service agreement fees between consolidated entities	9,648	9,262
Amortization of broadcast rights	7,142	7,214
Amortization of intangible assets	5,420	5,924
Depreciation	7,686	7,012
Total operating expenses	107,596	94,871
Income from operations	19,802	12,644
Interest expense, net	-12,677	-12,072
Other expenses	-128	-84
Equity in income of subsidiaries	0	0
Income before income taxes	6,997	488
Income tax expense	-2,948	-206
Net income	4,049	282
Mission [Member]	'	'
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS [Abstract]	'	'
Net broadcast revenue (including trade and barter)	8,880	7,095
Revenue between consolidated entities	9,648	9,262
Net revenue	18,528	16,357
Operating expenses [Abstract]	'	'
Direct operating expenses, excluding depreciation and amortization	4,366	3,348
Selling, general, and administrative expenses, excluding depreciation and amortization	823	797
Local service agreement fees between consolidated entities	2,445	2,405
Amortization of broadcast rights	1,490	1,599
Amortization of intangible assets	773	2,066
Depreciation	733	968
Total operating expenses	10,630	11,183
Income from operations	7,898	5,174
Interest expense, net	-2,493	-4,477
Other expenses	0	0
Equity in income of subsidiaries	0	0
Income before income taxes	5,405	697
Income tax expense	-2,101	-274
Net income	3,304	423
Nexstar Holdings [Member]	'	'
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS [Abstract]	'	'
Net broadcast revenue (including trade and barter)	0	0
Revenue between consolidated entities	0	0
Net revenue	0	0
Operating expenses [Abstract]	'	'
Direct operating expenses, excluding depreciation and amortization	0	0
Selling, general, and administrative expenses, excluding depreciation and amortization	0	0
Local service agreement fees between consolidated entities	0	0
Amortization of broadcast rights	0	0
Amortization of intangible assets	0	0
Depreciation	0	0
Total operating expenses	0	0
Income from operations	0	0
Interest expense, net	0	0
Other expenses	0	0
Equity in income of subsidiaries	4,049	282
Income before income taxes	4,049	282
Income tax expense	0	0
Net income	4,049	282
Eliminations [Member]	'	'
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS [Abstract]	'	'
Net broadcast revenue (including trade and barter)	0	0
Revenue between consolidated entities	-12,093	-11,667
Net revenue	-12,093	-11,667
Operating expenses [Abstract]	'	'
Direct operating expenses, excluding depreciation and amortization	0	0
Selling, general, and administrative expenses, excluding depreciation and amortization	0	0
Local service agreement fees between consolidated entities	-12,093	-11,667
Amortization of broadcast rights	0	0
Amortization of intangible assets	0	0
Depreciation	0	0
Total operating expenses	-12,093	-11,667
Income from operations	0	0
Interest expense, net	0	0
Other expenses	0	0
Equity in income of subsidiaries	-8,098	-564
Income before income taxes	-8,098	-564
Income tax expense	0	0
Net income	($8,098)	($564)

Condensed_Consolidating_Financ5

Condensed Consolidating Financial Information, Condensed Consolidating Statement of Cash Flows (Details) (USD $)	3 Months Ended
In Thousands, unless otherwise specified	Mar. 31, 2014	Mar. 31, 2013
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS [Abstract]	'	'
Cash flows from operating activities	$44,731	$13,105
Cash flows from investing activities [Abstract]	'	'
Purchases of property and equipment	-3,983	-6,786
Deposits and payments for acquisitions	-22,057	-121,114
Other investing activities	14	6
Net cash used in investing activities	-26,026	-127,894
Cash flows from financing activities [Abstract]	'	'
Proceeds from issuance of long-term debt	0	70,000
Repayments of long-term debt	-3,610	-10
Common stock dividends paid	-4,588	-3,529
Inter-company payments	0	0
Other financing activities	45	1,954
Net cash (used in) provided by financing activities	-8,153	68,415
Net increase (decrease) in cash and cash equivalents	10,552	-46,374
Cash and cash equivalents at beginning of period	40,028	68,999
Cash and cash equivalents at end of period	50,580	22,625
Nexstar [Member]	'	'
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS [Abstract]	'	'
Cash flows from operating activities	0	0
Cash flows from investing activities [Abstract]	'	'
Purchases of property and equipment	0	0
Deposits and payments for acquisitions	0	0
Other investing activities	0	0
Net cash used in investing activities	0	0
Cash flows from financing activities [Abstract]	'	'
Proceeds from issuance of long-term debt	'	0
Repayments of long-term debt	0	0
Common stock dividends paid	-4,588	-3,529
Inter-company payments	4,481	2,074
Other financing activities	107	1,455
Net cash (used in) provided by financing activities	0	0
Net increase (decrease) in cash and cash equivalents	0	0
Cash and cash equivalents at beginning of period	0	0
Cash and cash equivalents at end of period	0	0
Nexstar Broadcasting [Member]	'	'
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS [Abstract]	'	'
Cash flows from operating activities	46,269	15,546
Cash flows from investing activities [Abstract]	'	'
Purchases of property and equipment	-3,899	-6,766
Deposits and payments for acquisitions	-22,057	-61,776
Other investing activities	14	6
Net cash used in investing activities	-25,942	-68,536
Cash flows from financing activities [Abstract]	'	'
Proceeds from issuance of long-term debt	'	5,000
Repayments of long-term debt	-2,155	-10
Common stock dividends paid	0	0
Inter-company payments	-4,481	-2,074
Other financing activities	10	3,349
Net cash (used in) provided by financing activities	-6,626	6,265
Net increase (decrease) in cash and cash equivalents	13,701	-46,725
Cash and cash equivalents at beginning of period	36,312	68,681
Cash and cash equivalents at end of period	50,013	21,956
Mission [Member]	'	'
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS [Abstract]	'	'
Cash flows from operating activities	-1,538	-2,441
Cash flows from investing activities [Abstract]	'	'
Purchases of property and equipment	-84	-20
Deposits and payments for acquisitions	0	-59,338
Other investing activities	0	0
Net cash used in investing activities	-84	-59,358
Cash flows from financing activities [Abstract]	'	'
Proceeds from issuance of long-term debt	'	65,000
Repayments of long-term debt	-1,455	0
Common stock dividends paid	0	0
Inter-company payments	0	0
Other financing activities	-72	-2,850
Net cash (used in) provided by financing activities	-1,527	62,150
Net increase (decrease) in cash and cash equivalents	-3,149	351
Cash and cash equivalents at beginning of period	3,716	318
Cash and cash equivalents at end of period	567	669
Nexstar Holdings [Member]	'	'
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS [Abstract]	'	'
Cash flows from operating activities	0	0
Cash flows from investing activities [Abstract]	'	'
Purchases of property and equipment	0	0
Deposits and payments for acquisitions	0	0
Other investing activities	0	0
Net cash used in investing activities	0	0
Cash flows from financing activities [Abstract]	'	'
Proceeds from issuance of long-term debt	'	0
Repayments of long-term debt	0	0
Common stock dividends paid	0	0
Inter-company payments	0	0
Other financing activities	0	0
Net cash (used in) provided by financing activities	0	0
Net increase (decrease) in cash and cash equivalents	0	0
Cash and cash equivalents at beginning of period	0	0
Cash and cash equivalents at end of period	0	0
Eliminations [Member]	'	'
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS [Abstract]	'	'
Cash flows from operating activities	0	0
Cash flows from investing activities [Abstract]	'	'
Purchases of property and equipment	0	0
Deposits and payments for acquisitions	0	0
Other investing activities	0	0
Net cash used in investing activities	0	0
Cash flows from financing activities [Abstract]	'	'
Proceeds from issuance of long-term debt	'	0
Repayments of long-term debt	0	0
Common stock dividends paid	0	0
Inter-company payments	0	0
Other financing activities	0	0
Net cash (used in) provided by financing activities	0	0
Net increase (decrease) in cash and cash equivalents	0	0
Cash and cash equivalents at beginning of period	0	0
Cash and cash equivalents at end of period	$0	$0

Subsequent_Events_Details

Subsequent Events (Details) (USD $)	3 Months Ended			0 Months Ended				0 Months Ended
In Millions, except Per Share data, unless otherwise specified	Mar. 31, 2014	Mar. 31, 2013	Mar. 31, 2014	Apr. 01, 2014	Apr. 25, 2014	Apr. 30, 2014	5-May-14	Apr. 30, 2014	Apr. 01, 2014
			Term Loan A [Member]	Internet Broadcasting Systems [Member]	Subsequent Events [Member]	Subsequent Events [Member]	Subsequent Events [Member]	Subsequent Events [Member]	Subsequent Events [Member]
			Nexstar [Member]			Term Loan A [Member]	Term Loan A [Member]	Term Loan A [Member]	Internet Broadcasting Systems [Member]
						Nexstar [Member]	Nexstar [Member]	Mission [Member]
Subsequent Event [Line Items]	'	'	'	'	'	'	'	'	'
Acquisition date	'	'	'	1-Apr-14	'	'	'	'	1-Apr-14
Total purchase price	'	'	'	$20	'	'	'	'	$20
Quarterly dividend declared (in dollars per share)	$0.15	$0.12	'	'	$0.15	'	'	'	'
Dividends, date declared	'	'	'	'	25-Apr-14	'	'	'	'
Dividends, date payable	'	'	'	'	30-May-14	'	'	'	'
Dividends, date of record	'	'	'	'	16-May-14	'	'	'	'
Commitments under credit facility	'	'	'	'	'	112.2	'	60	'
Commitment fees on unused credit facility (in hundredths)	'	'	'	'	'	1.00%	'	1.00%	'
Prepayment on outstanding principal balance	'	'	$0.50	'	'	'	$3.20	'	'