Nexstar Media (NXST) 10-Q 10 May 16 2016 Q1 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	3 Months Ended
	Mar. 31, 2016	May. 02, 2016
Document And Entity Information [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Mar. 31, 2016
Document Fiscal Year Focus	2,016
Document Fiscal Period Focus	Q1
Trading Symbol	NXST
Entity Registrant Name	NEXSTAR BROADCASTING GROUP INC
Entity Central Index Key	1,142,417
Current Fiscal Year End Date	--12-31
Entity Current Reporting Status	Yes
Entity Filer Category	Large Accelerated Filer
Entity Common Stock, Shares Outstanding		30,677,804

CONDENSED CONSOLIDATED BALANCE

CONDENSED CONSOLIDATED BALANCE SHEETS (unaudited) - USD ($) $ in Thousands		Mar. 31, 2016	Dec. 31, 2015
Current assets:
Cash and cash equivalents		$ 12,821	$ 43,416
Accounts receivable, net of allowance for doubtful accounts of $6,048 and $5,369, respectively		199,999	192,991
Broadcast rights		14,937	16,297
Prepaid expenses and other current assets		6,570	7,324
Total current assets		234,327	260,028
Property and equipment, net		287,655	266,583
Goodwill		459,924	451,662
FCC licenses		501,264	489,335
Other intangible assets, net		323,955	314,361
Other noncurrent assets, net		85,060	53,165
Total assets	[1]	1,892,185	1,835,134
Current liabilities:
Current portion of debt		24,265	22,139
Current portion of broadcast rights payable		15,824	17,510
Accounts payable		24,925	25,936
Accrued expenses		54,350	60,559
Interest payable		15,833	10,939
Other current liabilities		9,914	8,978
Total current liabilities		145,111	146,061
Debt		1,489,899	1,454,075
Deferred tax liabilities		94,525	101,764
Other noncurrent liabilities		45,100	46,861
Total liabilities	[1]	$ 1,774,635	$ 1,748,761
Commitments and contingencies
Stockholders' equity:
Preferred stock - $0.01 par value, 200,000 shares authorized; none issued and outstanding at each of March 31, 2016 and December 31, 2015
Additional paid-in capital		$ 402,544	$ 396,224
Accumulated deficit		(246,393)	(268,120)
Treasury stock - at cost; 943,565 and 993,565 shares at March 31, 2016 and December 31, 2015, respectively		(45,063)	(47,746)
Total Nexstar Broadcasting Group, Inc. stockholders' equity		111,404	80,674
Noncontrolling interests in consolidated variable interest entities		6,146	5,699
Total stockholders' equity		117,550	86,373
Total liabilities and stockholders' equity		1,892,185	1,835,134
Class A Common Stock [Member]
Stockholders' equity:
Common stock		316	316
Total stockholders' equity		$ 316	$ 316
[1]	The consolidated total assets as of March 31, 2016 and December 31, 2015 include certain assets held by consolidated VIEs of $118.8 million and $119.9 million, respectively, which are not available to be used to settle the obligations of Nexstar. The consolidated total liabilities as of March 31, 2016 and December 31, 2015 include certain liabilities of consolidated VIEs of $39.7 million and $40.7 million, respectively, for which the creditors of the VIEs have no recourse to the general credit of Nexstar. See Note 2 for additional information

CONDENSED CONSOLIDATED BALANCE3

CONDENSED CONSOLIDATED BALANCE SHEETS (unaudited) (Parenthetical) - USD ($) $ in Thousands	Mar. 31, 2016	Dec. 31, 2015
Current assets:
Accounts receivable, allowance for doubtful accounts	$ 6,048	$ 5,369
Stockholders' equity:
Preferred stock, par value	$ 0.01	$ 0.01
Preferred stock, shares authorized	200,000	200,000
Preferred stock, shares issued	0	0
Preferred stock, shares outstanding	0	0
Treasury Stock, Shares	943,565	993,565
Consolidated VIEs [Member]
ASSETS
Consolidated VIEs, Assets	$ 118,771	$ 119,909
LIABILITIES AND STOCKHOLDERS' EQUITY
Consolidated VIEs, Liabilities	$ 39,708	$ 40,715
Class A Common Stock [Member]
Stockholders' equity:
Common stock, par value	$ 0.01	$ 0.01
Common stock, shares authorized	100,000,000	100,000,000
Common stock, shares issued	31,621,369	31,621,369
Common stock, shares outstanding	30,677,804	30,627,804
Class B Common Stock [Member]
Stockholders' equity:
Common stock, par value	$ 0.01	$ 0.01
Common stock, shares authorized	20,000,000	20,000,000
Common stock, shares issued	0	0
Common stock, shares outstanding	0	0
Class C Common Stock [Member]
Stockholders' equity:
Common stock, par value	$ 0.01	$ 0.01
Common stock, shares authorized	5,000,000	5,000,000
Common stock, shares issued	0	0
Common stock, shares outstanding	0	0

CONDENSED CONSOLIDATED STATEMEN

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (unaudited) - USD ($) shares in Thousands, $ in Thousands	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Revenues [Abstract]
Net revenue	$ 255,658	$ 201,735
Operating expenses:
Direct operating expenses, excluding depreciation and amortization	90,123	68,029
Selling, general, and administrative expenses, excluding depreciation and amortization	68,165	57,289
Amortization of broadcast rights	14,804	14,581
Amortization of intangible assets	12,079	13,060
Depreciation	12,558	10,872
Total operating expenses	197,729	163,831
Income from operations	57,929	37,904
Interest expense, net	(20,654)	(19,293)
Other expenses	(136)	(118)
Income before income taxes	37,139	18,493
Income tax expense	(14,865)	(6,581)
Net income (loss)	22,274	11,912
Net (income) loss attributable to noncontrolling interests	(547)	995
Net income attributable to Nexstar Broadcasting Group, Inc.	$ 21,727	$ 12,907
Net income per common share attributable to Nexstar Broadcasting Group, Inc.:
Basic	$ 0.71	$ 0.41
Diluted	$ 0.69	$ 0.40
Weighted average number of common shares outstanding:
Basic	30,658	31,196
Diluted	31,538	32,256
Dividends declared per common share	$ 0.24	$ 0.19

CONDENSED CONSOLIDATED STATEME5

CONDENSED CONSOLIDATED STATEMENT OF CHANGES IN STOCKHOLDERS' EQUITY (unaudited) - 3 months ended Mar. 31, 2016 - USD ($) $ in Thousands	Total	Class A Common Stock [Member]	Class B Common Stock [Member]	Class C Common Stock [Member]	Additional Paid-In Capital [Member]	Accumulated Deficit [Member]	Treasury Stock [Member]	Noncontrolling interest in a consolidated variable interest entity [Member]
Balance at Dec. 31, 2015	$ 86,373	$ 316			$ 396,224	$ (268,120)	$ (47,746)	$ 5,699
Balance, Shares at Dec. 31, 2015		31,621,369	0	0
Balance, Shares at Dec. 31, 2015	(993,565)						(993,565)
Stock-based compensation expense	$ 3,134				3,134
Vesting of restricted stock units					(2,683)		$ 2,683
Vesting of restricted stock units, shares							50,000
Excess tax benefit from stock option exercises	13,224				13,224
Common stock dividends declared	(7,355)				(7,355)
Purchase of noncontrolling interests	(100)							(100)
Net income	22,274					21,727		547
Balance at Mar. 31, 2016	$ 117,550	$ 316			$ 402,544	$ (246,393)	$ (45,063)	$ 6,146
Balance, Shares at Mar. 31, 2016		31,621,369	0	0
Balance, Shares at Mar. 31, 2016	(943,565)						(943,565)

CONDENSED CONSOLIDATED STATEME6

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (unaudited) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Cash flows from operating activities:
Net income	$ 22,274	$ 11,912
Adjustments to reconcile net income to net cash provided by operating activities:
Provision for bad debt	673	453
Amortization of broadcast rights, excluding barter	5,637	5,162
Depreciation of property and equipment	12,558	10,872
Amortization of intangible assets	12,079	13,060
(Gain) loss on asset disposal, net	(97)	802
Amortization of debt financing costs and debt discounts	946	885
Stock-based compensation expense	3,134	2,858
Deferred income taxes	6,815	5,139
Payments for broadcast rights	(6,258)	(5,271)
Deferred gain recognition	(108)	(109)
Amortization of deferred representation fee incentive	(286)	(264)
Non-cash representation contract termination fee		1,516
Excess tax benefit from stock option exercises	(13,224)	(1,686)
Loss on change in the fair value of contingent consideration	404
Changes in operating assets and liabilities, net of acquisitions and dispositions:
Accounts receivable	(6,877)	934
Prepaid expenses and other current assets	883	1,452
Other noncurrent assets	81	56
Accounts payable and accrued expenses	(6,516)	(5,781)
Taxes payable	146	(4,478)
Interest payable	4,894	12,011
Other noncurrent liabilities	1,273	103
Net cash provided by operating activities	38,431	49,626
Cash flows from investing activities:
Purchases of property and equipment	(7,741)	(6,401)
Deposits and payments for acquisitions, net of cash acquired	(103,971)	(459,979)
Proceeds from sale of a station		26,805
Proceeds from disposals of property and equipment	160	877
Net cash used in investing activities	(111,552)	(438,698)
Cash flows from financing activities:
Proceeds from long-term debt	58,000	411,950
Repayments of long-term debt	(20,897)	(104,140)
Payments for debt financing costs		(2,920)
Proceeds from exercise of stock options		1,465
Excess tax benefit from stock option exercises	13,224	1,686
Common stock dividends paid	(7,355)	(5,921)
Purchase of noncontrolling interests	(100)
Payments for capital lease obligations	(346)	(376)
Net cash provided by financing activities	42,526	301,744
Net decrease in cash and cash equivalents	(30,595)	(87,328)
Cash and cash equivalents at beginning of period	43,416	131,912
Cash and cash equivalents at end of period	12,821	44,584
Supplemental information:
Interest paid	14,813	6,397
Income taxes paid, net of refunds	5,978	5,925
Non-cash investing and financing activities:
Accrued purchases of property and equipment	1,313	1,321
Noncash purchases of property and equipment	$ 42	1,276
Accrued debt financing costs		$ 127

Organization and Business Opera

Organization and Business Operations	3 Months Ended
	Mar. 31, 2016
Organization Consolidation And Presentation Of Financial Statements [Abstract]
Organization and Business Operations	1. Organization and Business Operations As of March 31, 2016, Nexstar Broadcasting Group, Inc. and its wholly-owned subsidiaries (“Nexstar”) owned, operated, programmed or provided sales and other services to 104 full power television stations, including those owned by variable interest entities (“VIEs”), in 62 markets in the states of Alabama, Arizona, Arkansas, California, Colorado, Florida, Illinois, Indiana, Iowa, Louisiana, Maryland, Michigan, Missouri, Montana, Nevada, New York, North Dakota, Pennsylvania, Tennessee, Texas, Utah, Vermont, Virginia, West Virginia and Wisconsin. The stations are affiliates of ABC, NBC, FOX, CBS, The CW, MyNetworkTV and other broadcast television networks. Through various local service agreements, Nexstar provided sales, programming and other services to 30 full power television stations owned and/or operated by independent third parties.

Summary of Significant Accounti

Summary of Significant Accounting Policies	3 Months Ended
	Mar. 31, 2016
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 and the accounts of independently-owned VIEs The following are assets of consolidated VIEs that are not available to settle the obligations of Nexstar and liabilities of consolidated VIEs for which their creditors do not have recourse to the general credit of Nexstar (in thousands): March 31, December 31, 2016 2015 Current assets $ 3,573 $ 2,910 Property and equipment, net 3,865 4,004 Goodwill 17,875 18,182 FCC licenses 73,561 74,312 Other intangible assets, net 19,670 20,112 Other noncurrent assets, net 227 389 Total assets 118,771 119,909 Current liabilities 13,174 14,288 Noncurrent liabilities 26,534 26,427 Total liabilities $ 39,708 $ 40,715 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, 2016 and for the three months ended March 31, 2016 and 2015 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, 2015. The balance sheet as of December 31, 2015 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 Nexstar may determine that an entity is a VIE as a result of local service agreements entered into with the owner-operator of an entity. The term local service agreement generally refers to a contract between two 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. A local service agreement can be (1) a time brokerage agreement (“TBA”) which allows Nexstar to program most of a station’s broadcast time, sell the station’s advertising time and retain the advertising revenue generated in exchange for monthly payments, based on the station’s monthly operating expenses, (2) a shared services agreement (“SSA”) which 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 as described in the SSA, or (3) a joint sales agreement (“JSA”) which permits Nexstar to sell certain of the station’s advertising time and retain a percentage of the related revenue, as described in the JSA. As of January 1, 2016, the Company adopted ASU No. 2015-02, Consolidation (Topic 810) - Amendments to the Consolidation Analysis Consolidated VIEs Mission Broadcasting, Inc. (“Mission”), Marshall Broadcasting Group, Inc. (“Marshall”), White Knight Broadcasting (“White Knight”) and Parker Broadcasting of Colorado, LLC (“Parker”) are consolidated by Nexstar because Nexstar is deemed under U.S. GAAP to have controlling financial interests in these entities for financial reporting purposes as a result of (1) local service agreements Nexstar has with the stations owned by these entities, (2) Nexstar’s guarantees of the obligations incurred under Mission’s and Marshall’s senior secured credit facilities (see Note 6), (3) Nexstar having power over significant activities affecting these entities’ economic performance, including budgeting for advertising revenue, certain advertising sales and, for Mission, White Knight and Parker, hiring and firing of sales force personnel and (4) purchase options granted by Mission and White Knight which permit Nexstar to acquire the assets and assume the liabilities of each Mission or White Knight station, subject to Federal Communications Commission (“FCC”) consent. The following table summarizes the various local service agreements Nexstar had in effect as of March 31, 2016 with Mission, Marshall, Parker and White Knight: Service Agreements Owner Full Power Stations TBA Only Mission WFXP and KHMT Parker KFQX SSA & JSA Mission KJTL, KLRT, KASN, KOLR, KCIT, KAMC, KRBC, KSAN, WUTR, WAWV, WYOU, KODE, WTVO, KTVE, WTVW and WVNY Marshall KLJB, KPEJ and KMSS White Knight WVLA, KFXK, KSHV Nexstar’s ability to receive cash from Mission, Marshall, Parker and White Knight is governed by the local service agreements. Under these agreements, Nexstar has received substantially all of the consolidated VIEs’ available cash, after satisfaction of operating costs and debt obligations. Nexstar anticipates it will continue to receive substantially all of the consolidated VIEs’ available cash, after satisfaction of operating costs and debt obligations. In compliance with FCC regulations for all the parties, Mission, Marshall, Parker and White Knight maintain complete responsibility for and control over programming, finances, personnel and operation of their stations. The carrying amounts and classification of the assets and liabilities of the VIEs which have been included in the Condensed Consolidated Balance Sheets were as follows (in thousands): March 31, December 31, 2016 2015 Current assets: Cash and cash equivalents $ 2,045 $ 6,137 Accounts receivable, net 20,089 16,400 Prepaid expenses and other current assets 2,867 3,460 Total current assets 25,001 25,997 Property and equipment, net 28,894 29,681 Goodwill 69,518 69,825 FCC licenses 73,561 74,312 Other intangible assets, net 56,606 58,053 Other noncurrent assets, net 20,874 22,572 Total assets $ 274,454 $ 280,440 Current liabilities: Current portion of debt $ 7,435 $ 6,985 Interest payable 28 28 Other current liabilities 13,174 14,288 Total current liabilities 20,637 21,301 Debt 274,220 276,131 Other noncurrent liabilities 26,534 26,427 Total liabilities $ 321,391 $ 323,859 Non-Consolidated VIEs Nexstar has an outsourcing agreement with Cunningham Broadcasting Corporation (“Cunningham”), which continues through December 31, 2017. Under the outsourcing agreement, Nexstar provides certain engineering, production, sales and administrative services for WYZZ, the FOX affiliate in the Peoria, Illinois market, through WMBD, the Nexstar television station in that market. During the term of the outsourcing agreement, Nexstar retains the broadcasting revenue and related expenses of WYZZ and is obligated to pay a monthly fee based on the combined operating cash flow of WMBD and WYZZ, as defined in the agreement. In connection with a proposed acquisition of four full power television stations from West Virginia Media Holdings, LLC (“WVMH”), Nexstar began providing programming and sales services to WVMH stations effective December 1, 2015. Pursuant to the terms of the TBA with WVMH, Nexstar will pay an aggregate base fee of $7.5 million in equal monthly payments from the effective date through the final closing of the proposed acquisition which Nexstar projects to occur at the end of 2016. In the event that the proposed acquisition is not consummated for reasons beyond the control of Nexstar and WVMH, the TBA will terminate no later than June 30, 2017. See Note 3 for additional information. Nexstar has determined that it has variable interests in WYZZ and the stations owned by WVMH. Nexstar has evaluated its arrangements with Cunningham and WVMH and has determined that it is not the primary beneficiary of the variable interests in these stations because it does not have the ultimate power to direct the activities that most significantly impact the stations’ economic performance, which we define as 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 VIEs. Under the local service agreements for WYZZ and stations owned by WVMH, Nexstar pays for certain operating expenses, and therefore may have unlimited exposure to any potential operating losses. Nexstar’s management believes that Nexstar’s minimum exposure to loss under the WYZZ and WVMH agreements consists of the fees paid to Cunningham and WVMH. Additionally, Nexstar indemnifies the owners of WYZZ and WVMH from and against all liability and claims arising out of or resulting from its activities, acts or omissions in connection with the respective agreements. The maximum potential amount of future payments Nexstar could be required to make for such indemnification is undeterminable at this time. As of March 31, 2016 and December 31, 2015, Nexstar had balances in accounts payable of $1.2 million and $0.8 million, respectively, for fees under these arrangements and had receivables for advertising aired on these stations of $5.2 million and $1.0 million, respectively. Fees incurred under these arrangements of $1.2 million and $0.1 million were included in direct operating expenses in the Condensed Consolidated Statements of Operations for the three months ended March 31, 2016 and 2015, respectively. Financial Instruments The carrying amounts of cash and cash equivalents, accounts receivable, broadcast rights, accounts payable, broadcast rights 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 attributable to Nexstar 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 and restricted stock units outstanding during the period and reflect the potential dilution that could occur if common stock were issued upon exercise of stock options and vesting of restricted stock units. The following table shows the amounts used in computing the Company’s diluted shares (in thousands): Three Months Ended March 31, 2016 2015 Weighted average shares outstanding - basic 30,658 31,196 Dilutive effect of equity incentive plan instruments 880 1,060 Weighted average shares outstanding - diluted 31,538 32,256 The Company has outstanding stock options and unvested restricted stock units to acquire 920,000 and 1,043,000 weighted average shares of common stock for the three months ended March 31, 2016 and 2015, respectively, the effects of which were excluded from the calculation of diluted income per share, as their inclusion would have been anti-dilutive for the periods presented. Income Taxes The Company expects to be able to utilize the excess tax benefits related to stock option exercises that occurred in 2013 during the 2016 tax year. This resulted in a recognition of $13.2 million of deferred tax assets through accumulated paid in capital during the three months ended March 31, 2016. 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’ equity as previously reported. Recent Accounting Pronouncements In May 2014, the FASB issued ASU No. 2014-09, Revenue from Contracts with Customers (Topic 606) In April 2015, the FASB issued ASU 2015-05, Intangibles—Goodwill and Other—Internal-Use Software (Subtopic 350-40): Customer’s Accounting for Fees Paid in a Cloud Computing Arrangement In February 2016, the FASB issued ASU No. 2016-02, Leases (Topic 842) In March 2016, the FASB issued ASU No. 2016-07, Investments – Equity Method and Joint Ventures (Topic 323): Simplifying the Transition to the Equity Method of Accounting In March 2016, the FASB issued ASU No. 2016-08, Revenue from Contracts with Customers (Topic 606): Principal versus Agent Considerations In March 2016, the FASB issued ASU No. 2016-09, Compensation - Stock Compensation (Topic 718): Improvements to Employee Share-Based Payment Accounting

Acquisitions and Dispositions

Acquisitions and Dispositions	3 Months Ended
	Mar. 31, 2016
Business Combinations [Abstract]
Acquisitions and Dispositions	3. Acquisitions and Dispositions WVMH On November 16, 2015, Nexstar entered into a definitive agreement to acquire the assets of four CBS and NBC full power television stations from WVMH for $130.0 million in cash, subject to adjustments for working capital. The stations affiliated with CBS are WOWK in the Charleston-Huntington, West Virginia market, WTRF in the Wheeling, West Virginia-Steubenville, Ohio market and WVNS in the Bluefield-Beckley-Oak Hill, West Virginia market. WBOY in the Clarksburg-Weston, West Virginia market is affiliated with NBC. The acquisition will allow Nexstar entrance into these markets. Nexstar began providing programming and sales services to these stations pursuant to TBAs effective December 1, 2015 which will terminate upon completion of the acquisition. If the purchase cannot be completed for reasons beyond the control of Nexstar and the seller, the TBA will terminate no later than June 30, 2017. As discussed in Note 2, Nexstar is not the primary beneficiary of the variable interests in WVMH’s stations. Therefore, Nexstar has not consolidated these stations under authoritative guidance related to the consolidation of VIEs. On January 4, 2016, Nexstar completed the first closing of the transaction and acquired the stations’ assets excluding certain transmission equipment, the FCC licenses and network affiliation agreements for $65.0 million, including a deposit paid upon signing the purchase agreement of $6.5 million, all funded through a combination of cash on hand and borrowings under Nexstar’s revolving credit facility (See Note 6). Subject to final determination, which is expected to occur within twelve months of the acquisition date, the provisional fair values of the assets acquired and liabilities assumed in the first closing are as follows (in thousands): Accounts receivable $ 438 Prepaid expenses and other current assets 114 Property and equipment 18,362 Other intangible assets 3,308 Total assets acquired at first closing 22,222 Less: Accounts payable and accrued expenses (623 ) Less: Other noncurrent liabilities (307 ) Net assets acquired at first closing 21,292 Deposit on second closing 43,672 Total paid at first closing $ 64,964 Other intangible assets are amortized over an estimated weighted average useful life of three years. The proposed acquisition allows Nexstar to return the assets acquired in the first closing to WVMH if the second closing cannot be completed for reasons beyond the control of Nexstar and WVMH. Since not all assets needed to operate the stations were acquired in January 2016 and due to the possibility of termination of the TBA to utilize the remaining assets, the first closing does not represent an acquisition of a business. Thus, the excess of total payments in the first closing over the provisional fair values of the assets acquired and liabilities assumed was considered a deposit. The remaining purchase price of $65.0 million is expected to be funded through cash generated from operations prior to the second closing and borrowings under Nexstar’s senior secured credit facility which is projected to occur at the end of 2016. The acquisition is subject to FCC approval and other customary conditions. Transaction costs relating to this proposed acquisition, including legal and professional fees of $0.1 million, were expensed as incurred during the three months ended March 31, 2016. Reiten On February 1, 2016, Nexstar completed the acquisition of the assets of four full power television stations from Reiten Television, Inc. (“Reiten”) for $44.0 million in cash, subject to adjustments for working capital, funded by a combination of cash on hand and borrowings under Nexstar’s revolving credit facility (See Note 6). The purchase price includes a $2.2 million deposit paid by Nexstar upon signing the purchase agreement in September 2015. The stations, all affiliated with CBS, are KXMC, KXMB, KXMA and KXMD in the Minot-Bismarck-Dickinson, North Dakota market. KXMB, KXMA and KXMD are satellite stations of KXMC. This acquisition allows Nexstar entrance into this market. Transaction costs relating to this acquisition, including legal and professional fees of $0.1 million, were expensed as incurred during the three months ended March 31, 2016. Subject to final determination, which is expected to occur within twelve months of the acquisition date, the provisional fair values of the assets acquired and liabilities assumed in the acquisition are as follows (in thousands): Broadcast rights $ 13 Property and equipment 8,175 FCC licenses 9,779 Network affiliation agreements 16,084 Other intangible assets 2,051 Goodwill 7,911 Total assets acquired 44,013 Less: Broadcast rights payable (13 ) Less: Accrued expenses (2 ) Net assets acquired $ 43,998 The fair value assigned to goodwill is attributable to future expense reductions utilizing management’s leverage in programming and other station operating costs. The goodwill and FCC licenses are deductible for tax purposes. 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 two and a half years. The stations’ net revenue of $2.6 million and operating income of $0.4 million from the date of acquisition to March 31, 2016 have been included in the accompanying Condensed Consolidated Statements of Operations. KCWI On March 14, 2016, Nexstar completed the acquisition of the assets of KCWI, the CW affiliate in the Des Moines-Ames, Iowa market, from Pappas Telecasting of Iowa, LLC (“Pappas”) for $3.8 million. A deposit of $0.2 million was paid upon signing the purchase agreement in October 2014. No significant transaction costs relating to this acquisition were incurred during the three months ended March 31, 2016. Subject to final determination, which is expected to occur within twelve months of the acquisition date, the provisional fair values of the assets acquired and liabilities assumed in the acquisition are as follows (in thousands): Accounts receivable $ 367 Broadcast rights 1,740 Prepaid expenses and other current assets 15 Property and equipment 900 FCC licenses 2,150 Other intangible assets 230 Goodwill 351 Total assets acquired 5,753 Less: Broadcast rights payable (1,886 ) Less: Accrued expenses (18 ) Net assets acquired $ 3,849 The fair value assigned to goodwill is attributable to future expense reductions utilizing management’s leverage in programming and other station operating costs. The goodwill and FCC licenses are deductible for tax purposes. KCWI had no significant revenue or operating results from the date of acquisition to March 31, 2016. Unaudited Pro Forma Information The acquisitions of four full power television stations from Reiten and KCWI from Pappas are not significant for financial reporting purposes, both individually and in aggregate. Therefore, pro forma information has not been provided for these acquisitions. Future Acquisition Media General On January 27, 2016, Nexstar entered into a definitive merger agreement with Media General, Inc. (“Media General”), whereby Nexstar will acquire the latter’s outstanding equity for $10.55 per share in cash and 0.1249 of a share of Nexstar’s Class A common stock for each Media General share. The terms of the agreement also include potential additional consideration to Media General shareholders in the form of a non-transferable contingent value right (“CVR”) for each Media General share entitling Media General shareholders to net cash proceeds, if any, from the sale of Media General’s spectrum in the FCC’s upcoming spectrum auction. Depending on the timing of the FCC auction, the CVR may be issued before or at the time of the merger. Each unvested Media General stock option outstanding prior to the completion of the merger will become fully vested and will be converted into an option to purchase Nexstar’s Class A common stock, pursuant to the terms of the merger agreement. Additionally, unless the CVR has been issued prior to the completion of the merger, the holders of Media General stock options will also be entitled to one CVR for each share subject to the Media General stock option immediately prior to the completion of the merger. All other equity-based awards of Media General that are outstanding prior to the merger will vest in full and will be converted into the right to receive the cash, stock and contingent consideration as described above, subject to the terms of the merger agreement. The total consideration for this proposed acquisition is approximately $2.1 billion in cash and stock, estimated based on Nexstar’s Class A common stock market price per share of $44.27 on March 31, 2016 and Media General’s diluted common shares outstanding, plus the potential CVR. Transaction costs relating to this proposed acquisition, including legal and professional fees of $4.3 million, were expensed as incurred during the three months ended March 31, 2016. The merger agreement contains certain termination rights for both Nexstar and Media General. If the merger agreement is terminated in connection with Media General entering into a definitive agreement for a superior proposal, as well as under certain other circumstances, the termination fee payable to Nexstar will be $80.0 million. If the merger agreement is terminated because the required Media General shareholder vote is not obtained at a shareholder meeting duly held for such purpose, the amount of the termination fee payable to Nexstar will be $20.0 million. The merger agreement also provides that Nexstar will be required to pay a termination fee to Media General of $80.0 million if the merger agreement is terminated under certain circumstances and a termination fee of $20.0 million if the required Nexstar shareholder vote is not obtained at a shareholder meeting duly held for such purpose. Either party may terminate the merger agreement if the merger is not consummated on or before January 27, 2017, with an automatic extension to April 27, 2017, if necessary to obtain regulatory approval under circumstances specified in the merger agreement. The merger is subject to a vote by stockholders of Nexstar and Media General, FCC and other regulatory approvals (including expiration of the applicable Hart-Scott-Rodino waiting period) and other customary closing conditions. The merger is not subject to any financing condition and Nexstar received committed financing up to a maximum of $4.7 billion from a group of commercial banks to provide the debt financing to consummate the merger and the refinancing of certain of the existing indebtedness of Nexstar, Media General and certain of their VIEs. With respect to Nexstar and certain of its VIEs, the debt refinancing will include the outstanding obligations under the revolving credit facilities and term loans. Upon completion of the merger, which is expected to occur in the fourth quarter of 2016, the combined company will be named Nexstar Media Group, Inc.

Intangible Assets and Goodwill

Intangible Assets and Goodwill	3 Months Ended
	Mar. 31, 2016
Goodwill And Intangible Assets Disclosure [Abstract]
Intangible Assets and Goodwill	4. Intangible Assets and Goodwill Intangible assets subject to amortization consisted of the following (in thousands): Estimated March 31, 2016 December 31, 2015 useful life, Accumulated Accumulated in years Gross Amortization Net Gross Amortization Net Network affiliation agreements 15 $ 630,676 $ (344,418 ) $ 286,258 $ 614,592 $ (338,016 ) $ 276,576 Other definite-lived intangible assets 1-15 90,510 (52,813 ) 37,697 84,921 (47,136 ) 37,785 Other intangible assets $ 721,186 $ (397,231 ) $ 323,955 $ 699,513 $ (385,152 ) $ 314,361 The increases in network affiliation agreements and other definite-lived intangible assets relate to Nexstar’s acquisitions as discussed in Note 3. The following table presents the Company’s estimate of amortization expense for the remainder of 2016, each of the five succeeding years ended December 31 and thereafter for definite-lived intangible assets as of March 31, 2016 (in thousands): Remainder of 2016 $ 37,025 2017 40,953 2018 30,073 2019 27,160 2020 24,005 2021 23,802 Thereafter 140,937 $ 323,955 The amounts recorded to goodwill and FCC licenses were as follows (in thousands): Goodwill FCC Licenses Accumulated Accumulated Gross Impairment Net Gross Impairment Net Balances as of December 31, 2015 $ 497,653 $ (45,991 ) $ 451,662 $ 538,756 (49,421 ) $ 489,335 Acquisitions (See Note 3) 8,262 - 8,262 11,929 - 11,929 Balances as of March 31, 2016 $ 505,915 $ (45,991 ) $ 459,924 $ 550,685 $ (49,421 ) $ 501,264 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. During the three months ended March 31, 2016, the Company did not identify any events that would trigger impairment assessment.

Accrued Expenses

Accrued Expenses	3 Months Ended
	Mar. 31, 2016
Payables And Accruals [Abstract]
Accrued Expenses	5. Accrued Expenses Accrued expenses consisted of the following (in thousands): March 31, December 31, 2016 2015 Compensation and related taxes $ 15,026 $ 15,810 Network affiliation fees 21,229 22,324 Other 18,095 22,425 $ 54,350 $ 60,559

Debt

Debt	3 Months Ended
	Mar. 31, 2016
Debt Disclosure [Abstract]
Debt	6. Debt Long-term debt consisted of the following (in thousands): March 31, December 31, 2016 2015 Term loans, net of financing costs and discount of $8,188 and $8,715, respectively $ 677,853 $ 682,223 Revolving loans 44,000 2,000 6.875% Senior unsecured notes due 2020, net of financing costs and discount of $4,997 and $5,223, respectively 520,003 519,777 6.125% Senior unsecured notes due 2022, net of financing costs of $2,692 and $2,786, respectively 272,308 272,214 1,514,164 1,476,214 Less: current portion (24,265 ) (22,139 ) $ 1,489,899 $ 1,454,075 2016 Transactions In January and February 2016, Nexstar borrowed a total of $58.0 million under its revolving credit facility to partially fund the Reiten and WVMH acquisitions discussed in Note 3. Through March 2016, Nexstar repaid $16.0 million outstanding principal balance under its revolving credit facility funded by cash on hand. In March 2016, Nexstar, Mission and Marshall paid the contractual maturities under their senior secured credit facilities totaling $4.9 million. Unused Commitments and Borrowing Availability The Company had $61.0 million of total unused revolving loan commitments under its amended senior secured credit facilities, all of which was available for borrowing, based on the covenant calculations as of March 31, 2016. During the first week of May 2016, Nexstar repaid $14.0 million of outstanding revolving loans, funded by cash on hand. The Company’s ability to access funds under its senior secured credit facilities depends, in part, on its compliance with certain financial covenants. As of March 31, 2016, Nexstar was in compliance with its financial covenants. Collateralization and Guarantees of Debt The Company’s senior secured credit facilities are collateralized by a security interest in substantially all the combined assets, excluding FCC licenses and the other assets of consolidated VIEs unavailable to creditors of Nexstar (See Note 2). Nexstar guarantees full payment of all obligations incurred under the Mission and Marshall senior secured credit facilities in the event of their default. Similarly, Mission and Marshall are guarantors of the Nexstar senior secured credit facility. Mission is also a guarantor of Nexstar’s 6.875% senior unsecured notes due 2020 (“6.875% Notes”) and 6.125% senior unsecured notes due 2022 (“6.125% Notes”). Fair Value of Debt The aggregate carrying amounts and estimated fair values of the Company’s debt were as follows (in thousands): March 31, 2016 December 31, 2015 Carrying Fair Carrying Fair Amount Value Amount Value Term loans (1) $ 677,853 $ 680,000 $ 682,223 $ 678,045 Revolving loans (1) 44,000 43,424 2,000 1,961 6.875% Senior unsecured notes (2) 520,003 543,375 519,777 534,188 6.125% Senior unsecured notes (2) 272,308 273,625 272,214 269,500 (1) The fair value of senior secured credit facilities is computed based on borrowing rates currently available to the Company 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 the Company’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, 2016
Risks And Uncertainties [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, which must be completed within 51 months after the completion of the broadcast television incentive auction. 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 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 uncompleted 2010 quadrennial review proceeding and 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 were 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 is 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 were given two years to modify or terminate their JSAs to come into compliance. However, subsequent federal legislation extended the JSA compliance deadline until September 30, 2025. Various parties, including Nexstar (and Mission, which has intervened), have appealed this new rule to the U.S. Court of Appeals for the D.C. Circuit, which in November 2015 transferred the case to the U.S. Court of Appeals for the Third Circuit. If Nexstar is required to amend or terminate its existing agreements with Mission and others, the Company could have a reduction in revenue and could incur increased costs if it is unable to successfully implement alternative arrangements that are as beneficial as the existing JSAs. Spectrum The FCC is seeking to make additional spectrum available to meet future wireless broadband needs. In February 2012, the U.S. Congress adopted legislation authorizing the FCC to conduct an incentive auction whereby television broadcasters could voluntarily relinquish their spectrum in exchange for consideration. The FCC has released various orders and public notices which set forth procedures that the FCC will follow in the incentive auction and the subsequent “repacking” of broadcast television spectrum, establish opening prices for television stations to relinquish their spectrum, and resolve various technical and other issues related to the incentive auction, the possible sharing of channels by television stations, and the repurposing of television spectrum for broadband use. The incentive auction commenced on March 29, 2016. Nexstar and certain of its local service agreement partners filed applications to participate in the incentive auction. The reallocation of television spectrum for wireless broadband use will require many television stations to change channel or otherwise modify their technical facilities. The reallocation of 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 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. On December 5, 2014, federal legislation extended the joint negotiation prohibition to all non-commonly owned television stations in a market. This new rule requires Nexstar, Mission and other independent third parties with which Nexstar has local service agreements to separately negotiate retransmission consent agreements for certain of their stations. The December 2014 legislation also directed the FCC to commence a rulemaking to “review its totality of the circumstances test for good faith [retransmission consent] negotiations.” The FCC commenced this proceeding in September 2015, comments and reply comments have been submitted and the Company cannot predict the proceeding’s outcome. Concurrently with its adoption of the prohibition on certain joint retransmission consent negotiations, the FCC also adopted a further notice of proposed rulemaking which seeks additional comment on the elimination or modification of the network non-duplication and syndicated exclusivity rules. The FCC’s prohibition on certain joint retransmission consent negotiations and its possible elimination or modification of the network non-duplication and syndicated exclusivity protection rules may 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 prohibition on certain joint negotiations, on its business. Further, certain online video distributors and other over-the-top video distributors (“OTTDs”) have begun streaming broadcast programming over the Internet. In June 2014, the U.S. Supreme Court held that an OTTD’s retransmissions of broadcast television signals without the consent of the broadcast station violate copyright holders’ exclusive right to perform their works publicly as provided under the Copyright Act. In December 2014, the FCC issued a Notice of Proposed Rulemaking proposing to interpret the term “MVPD” to encompass OTTDs that make available for purchase multiple streams of video programming distributed at a prescheduled time, and seeking comment on the effects of applying MVPD rules to such OTTDs. Comments and reply comments were filed in the first and second quarters of 2015 and the Company cannot predict the outcome of the proceeding. However, if the FCC ultimately determines that an OTTD is not an MVPD, or declines to apply certain rules governing MVPDs to OTTDs, the Company’s business and results of operations could be materially and adversely affected.

Commitments and Contingencies

Commitments and Contingencies	3 Months Ended
	Mar. 31, 2016
Commitments And Contingencies Disclosure [Abstract]
Commitments and Contingencies	8. Commitments and Contingencies Guarantees of Mission and Marshall Debt Nexstar guarantees full payment of all obligations incurred under Mission’s and Marshall’s senior secured credit facilities. In the event that Mission and/or Marshall are 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 these guarantees would be generally limited to the amount of borrowings outstanding. As of March 31, 2016, Mission had a maximum commitment of $233.1 million under its senior secured credit facility, of which $225.1 million of debt was outstanding, and Marshall had used all of its commitment and had outstanding debt obligations of $56.5 million. 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. Litigation 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.

Segment Data

Segment Data	3 Months Ended
	Mar. 31, 2016
Segment Reporting [Abstract]
Segment Data	9. Segment Data The Company evaluates the performance of its operating segments based on net revenue and operating income. The Company’s broadcast segment includes television stations and related community focused websites that Nexstar owns, operates, programs or provides sales and other services to in various markets across the United States. The other activities of the Company include corporate functions, eliminations and other insignificant operations. Segment financial information is included in the following tables for the periods presented (in thousands): Three Months ended March 31, 2016 Broadcasting Other Consolidated Net revenue $ 241,088 $ 14,570 $ 255,658 Depreciation 10,987 1,571 12,558 Amortization of intangible assets 8,711 3,368 12,079 Income (loss) from operations 76,928 (18,999 ) 57,929 Three Months ended March 31, 2015 Broadcasting Other Consolidated Net revenue $ 190,845 $ 10,890 $ 201,735 Depreciation 9,704 1,168 10,872 Amortization of intangible assets 10,888 2,172 13,060 Income (loss) from operations 52,674 (14,770 ) 37,904 As of March 31, 2016 Broadcasting Other Consolidated Goodwill $ 421,227 $ 38,697 $ 459,924 Assets 1,722,125 170,060 1,892,185 As of December 31, 2015 Broadcasting Other Consolidated Goodwill $ 412,965 $ 38,697 $ 451,662 Assets 1,660,737 174,397 1,835,134

Condensed Consolidating Financi

Condensed Consolidating Financial Information	3 Months Ended
	Mar. 31, 2016
Condensed Financial Information Of Parent Company Only Disclosure [Abstract]
Condensed Consolidating Financial Information	10. Condensed Consolidating Financial Information The following condensed consolidating financial information presents the financial position, results of operations and cash flows of the Company, including its wholly-owned subsidiaries and its consolidated VIEs. 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, excluding consolidating entities. The Nexstar Broadcasting column presents the financial information of Nexstar Broadcasting, Inc. (“Nexstar Broadcasting”), a wholly-owned subsidiary of Nexstar and issuer of the 6.875% Notes and the 6.125% Notes. The Mission column presents the financial information of Mission, an entity which Nexstar Broadcasting is required to consolidate as a VIE (see Note 2). The Non-Guarantors column presents the combined financial information of Enterprise Technology LLC, a wholly-owned subsidiary of Nexstar, and other VIEs consolidated by Nexstar Broadcasting (See Note 2). Nexstar Broadcasting’s outstanding 6.875% Notes and 6.125% Notes 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, 2016 (in thousands) Nexstar Non- Consolidated Nexstar Broadcasting Mission Guarantors Eliminations Company ASSETS Current assets: Cash and cash equivalents $ - $ 3,897 $ 1,330 $ 7,594 $ - $ 12,821 Accounts receivable - 168,740 11,985 19,274 - 199,999 Amounts due from consolidated entities - 16,272 60,056 - (76,328 ) - Other current assets - 18,255 1,120 2,132 - 21,507 Total current assets - 207,164 74,491 29,000 (76,328 ) 234,327 Investments in subsidiaries 202,048 38,259 - - (240,307 ) - Amounts due from consolidated entities - 124,657 - - (124,657 ) - Property and equipment, net - 253,914 21,344 12,397 - 287,655 Goodwill - 351,709 32,489 75,726 - 459,924 FCC licenses - 427,703 41,563 31,998 - 501,264 Other intangible assets, net - 243,308 18,287 62,360 - 323,955 Other noncurrent assets - 64,132 19,339 1,589 - 85,060 Total assets $ 202,048 $ 1,710,846 $ 207,513 $ 213,070 $ (441,292 ) $ 1,892,185 LIABILITIES AND STOCKHOLDERS' EQUITY (DEFICIT) Current liabilities: Current portion of debt $ - $ 16,830 $ 2,335 $ 5,100 $ - $ 24,265 Accounts payable - 18,520 1,651 4,754 - 24,925 Amounts due to consolidated entities - 55,005 - 21,323 (76,328 ) - Other current liabilities - 78,439 6,717 10,765 - 95,921 Total current liabilities - 168,794 10,703 41,942 (76,328 ) 145,111 Debt - 1,215,679 222,781 51,439 - 1,489,899 Amounts due to consolidated entities 54,307 - - 70,350 (124,657 ) - Other noncurrent liabilities - 115,990 10,397 13,238 - 139,625 Total liabilities 54,307 1,500,463 243,881 176,969 (200,985 ) 1,774,635 Total stockholders' equity (deficit) 147,741 210,383 (36,368 ) 29,955 (240,307 ) 111,404 Noncontrolling interests in consolidated variable interest entities - - - 6,146 - 6,146 Total liabilities and stockholders' equity (deficit) $ 202,048 $ 1,710,846 $ 207,513 $ 213,070 $ (441,292 ) $ 1,892,185 CONDENSED CONSOLIDATING BALANCE SHEET As of December 31, 2015 (in thousands) Nexstar Non- Consolidated Nexstar Broadcasting Mission Guarantors Eliminations Company ASSETS Current assets: Cash and cash equivalents $ - $ 27,492 $ 4,361 $ 11,563 $ - $ 43,416 Accounts receivable - 163,008 9,370 20,613 - 192,991 Amounts due from consolidated entities - 10,600 51,978 - (62,578 ) - Other current assets - 19,984 1,364 2,273 - 23,621 Total current assets - 221,084 67,073 34,449 (62,578 ) 260,028 Investments in subsidiaries 184,332 38,931 - - (223,263 ) - Amounts due from consolidated entities - 133,659 - - (133,659 ) - Property and equipment, net - 232,206 21,891 12,486 - 266,583 Goodwill - 343,140 32,489 76,033 - 451,662 FCC licenses - 415,024 41,563 32,748 - 489,335 Other intangible assets, net - 228,936 18,892 66,533 - 314,361 Other noncurrent assets - 30,539 20,418 2,208 - 53,165 Total assets $ 184,332 $ 1,643,519 $ 202,326 $ 224,457 $ (419,500 ) $ 1,835,134 LIABILITIES AND STOCKHOLDERS' EQUITY (DEFICIT) Current liabilities: Current portion of debt $ - $ 15,154 $ 2,335 $ 4,650 $ - $ 22,139 Accounts payable - 14,705 906 10,325 - 25,936 Amounts due to consolidated entities - 47,700 - 14,878 (62,578 ) - Other current liabilities - 78,868 6,909 12,209 - 97,986 Total current liabilities - 156,427 10,150 42,062 (62,578 ) 146,061 Debt - 1,177,944 223,235 52,896 - 1,454,075 Amounts due to consolidated entities 63,309 - - 70,350 (133,659 ) - Other noncurrent liabilities - 118,048 9,351 21,226 - 148,625 Total liabilities 63,309 1,452,419 242,736 186,534 (196,237 ) 1,748,761 Total Nexstar Broadcasting Group, Inc. stockholders' equity (deficit) 121,023 191,100 (40,410 ) 32,224 (223,263 ) 80,674 Noncontrolling interest in a consolidated variable interest entity - - - 5,699 - 5,699 Total liabilities and stockholders' equity (deficit) $ 184,332 $ 1,643,519 $ 202,326 $ 224,457 $ (419,500 ) $ 1,835,134 CONDENSED CONSOLIDATING STATEMENT OF OPERATIONS Three Months Ended March 31, 2016 (in thousands) Nexstar Non- Consolidated Nexstar Broadcasting Mission Guarantors Eliminations Company Net broadcast revenue (including trade and barter) $ - $ 215,576 $ 15,160 $ 24,922 $ - $ 255,658 Revenue between consolidated entities - 8,605 9,201 2,699 (20,505 ) - Net revenue - 224,181 24,361 27,621 (20,505 ) 255,658 Operating expenses: Direct operating expenses, excluding depreciation and amortization - 68,536 7,487 14,110 (10 ) 90,123 Selling, general, and administrative expenses, excluding depreciation and amortization - 63,578 907 4,798 (1,118 ) 68,165 Local service agreement fees between consolidated entities - 10,772 4,500 4,105 (19,377 ) - Amortization of broadcast rights - 12,393 1,392 1,019 - 14,804 Amortization of intangible assets - 7,308 605 4,166 - 12,079 Depreciation - 11,184 607 767 - 12,558 Total operating expenses - 173,771 15,498 28,965 (20,505 ) 197,729 Income (loss) from operations - 50,410 8,863 (1,344 ) - 57,929 Interest expense, net - (17,940 ) (2,313 ) (401 ) - (20,654 ) Other expenses - (136 ) - - - (136 ) Equity in income of subsidiaries 17,715 - - - (17,715 ) - Income (loss) before income taxes 17,715 32,334 6,550 (1,745 ) (17,715 ) 37,139 Income tax (expense) benefit - (13,051 ) (2,508 ) 694 - (14,865 ) Net income (loss) 17,715 19,283 4,042 (1,051 ) (17,715 ) 22,274 Net income attributable to noncontrolling interests - - - (547 ) - (547 ) Net income (loss) attributable to Nexstar $ 17,715 $ 19,283 $ 4,042 $ (1,598 ) $ (17,715 ) $ 21,727 CONDENSED CONSOLIDATING STATEMENT OF OPERATIONS Three Months Ended March 31, 2015 (in thousands) Nexstar Non- Consolidated Nexstar Broadcasting Mission Guarantors Eliminations Company Net broadcast revenue (including trade and barter) $ - $ 170,500 $ 12,110 $ 19,125 $ - $ 201,735 Revenue between consolidated entities - 6,469 8,554 2,781 (17,804 ) - Net revenue - 176,969 20,664 21,906 (17,804 ) 201,735 Operating expenses: Direct operating expenses, excluding depreciation and amortization - 53,531 5,188 9,310 - 68,029 Selling, general, and administrative expenses, excluding depreciation and amortization - 52,835 862 4,447 (855 ) 57,289 Local service agreement fees between consolidated entities - 10,480 2,445 4,024 (16,949 ) - Amortization of broadcast rights - 11,662 1,468 1,451 - 14,581 Amortization of intangible assets - 8,556 610 3,894 - 13,060 Depreciation - 9,579 602 691 - 10,872 Total operating expenses - 146,643 11,175 23,817 (17,804 ) 163,831 Income (loss) from operations - 30,326 9,489 (1,911 ) - 37,904 Interest expense, net - (16,580 ) (2,316 ) (397 ) - (19,293 ) Other expenses - (118 ) - - - (118 ) Equity in income of subsidiaries 8,868 - - - (8,868 ) - Income (loss) before income taxes 8,868 13,628 7,173 (2,308 ) (8,868 ) 18,493 Income tax (expense) benefit - (4,553 ) (2,821 ) 793 - (6,581 ) Net income (loss) 8,868 9,075 4,352 (1,515 ) (8,868 ) 11,912 Net loss attributable to noncontrolling interests - - - 995 - 995 Net income (loss) attributable to Nexstar $ 8,868 $ 9,075 $ 4,352 $ (520 ) $ (8,868 ) $ 12,907 CONDENSED CONSOLIDATING STATEMENT OF CASH FLOWS Three Months Ended March 31, 2016 (in thousands) Nexstar Non- Consolidated Nexstar Broadcasting Mission Guarantors Eliminations Company Cash flows from operating activities $ - $ 43,093 $ (2,389 ) $ (2,273 ) $ - $ 38,431 Cash flows from investing activities: Purchases of property and equipment - (7,038 ) (57 ) (646 ) - (7,741 ) Deposits and payments for acquisitions - (103,971 ) - - - (103,971 ) Other investing activities - 160 - - - 160 Net cash used in investing activities - (110,849 ) (57 ) (646 ) - (111,552 ) Cash flows from financing activities: Proceeds from long-term debt - 58,000 - - - 58,000 Repayments of long-term debt - (19,262 ) (585 ) (1,050 ) - (20,897 ) Common stock dividends paid (7,355 ) - - - - (7,355 ) Inter-company payments 7,355 (7,355 ) - - - - Excess tax benefit from stock option exercises - 13,224 - - - 13,224 Other financing activities - (446 ) - - - (446 ) Net cash provided by (used in) financing activities - 44,161 (585 ) (1,050 ) - 42,526 Net decrease in cash and cash equivalents - (23,595 ) (3,031 ) (3,969 ) - (30,595 ) Cash and cash equivalents at beginning of period - 27,492 4,361 11,563 - 43,416 Cash and cash equivalents at end of period $ - $ 3,897 $ 1,330 $ 7,594 $ - $ 12,821 CONDENSED CONSOLIDATING STATEMENT OF CASH FLOWS Three Months Ended March 31, 2015 (in thousands) Nexstar Non- Consolidated Nexstar Broadcasting Mission Guarantors Eliminations Company Cash flows from operating activities $ - $ 38,613 $ 8,106 $ 2,907 $ - $ 49,626 Cash flows from investing activities: Purchases of property and equipment - (5,974 ) (32 ) (571 ) 176 (6,401 ) Deposits and payments for acquisitions - (503,200 ) - (79 ) 43,300 (459,979 ) Proceeds from sale of a station - 70,105 - - (43,300 ) 26,805 Other investing activities - 723 150 180 (176 ) 877 Net cash (used in) provided by investing activities - (438,346 ) 118 (470 ) - (438,698 ) Cash flows from financing activities: Proceeds from long-term debt - 409,950 - 2,000 - 411,950 Repayments of long-term debt - (97,431 ) (5,959 ) (750 ) - (104,140 ) Common stock dividends paid (5,921 ) - - - - (5,921 ) Inter-company payments 4,456 (4,456 ) - - - - Other financing activities 1,465 (1,600 ) (8 ) (2 ) - (145 ) Net financing - 306,463 (5,967 ) 1,248 - 301,744 Net (decrease) increase in cash and cash equivalents - (93,270 ) 2,257 3,685 - (87,328 ) Cash and cash equivalents at beginning of period - 130,472 880 560 - 131,912 Cash and cash equivalents at end of period $ - $ 37,202 $ 3,137 $ 4,245 $ - $ 44,584

Subsequent Events

Subsequent Events	3 Months Ended
	Mar. 31, 2016
Subsequent Events [Abstract]
Subsequent Events	11. Subsequent Events On April 21, 2016, Nexstar’s Board of Directors declared a quarterly cash dividend of $0.24 per share of its Class A common stock. The dividend is payable on May 27, 2016 to stockholders of record on May 13, 2016. During the first week of May 2016, Nexstar repaid $14.0 million of outstanding revolving loans, funded by cash on hand.

Summary of Significant Accoun18

Summary of Significant Accounting Policies (Policies)	3 Months Ended
	Mar. 31, 2016
Accounting Policies [Abstract]
Principles of Consolidation	Principles of Consolidation The Condensed Consolidated Financial Statements include the accounts of Nexstar and the accounts of independently-owned VIEs The following are assets of consolidated VIEs that are not available to settle the obligations of Nexstar and liabilities of consolidated VIEs for which their creditors do not have recourse to the general credit of Nexstar (in thousands): March 31, December 31, 2016 2015 Current assets $ 3,573 $ 2,910 Property and equipment, net 3,865 4,004 Goodwill 17,875 18,182 FCC licenses 73,561 74,312 Other intangible assets, net 19,670 20,112 Other noncurrent assets, net 227 389 Total assets 118,771 119,909 Current liabilities 13,174 14,288 Noncurrent liabilities 26,534 26,427 Total liabilities $ 39,708 $ 40,715
Interim Financial Statements	Interim Financial Statements The Condensed Consolidated Financial Statements as of March 31, 2016 and for the three months ended March 31, 2016 and 2015 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, 2015. The balance sheet as of December 31, 2015 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 an entity is a VIE as a result of local service agreements entered into with the owner-operator of an entity. The term local service agreement generally refers to a contract between two 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. A local service agreement can be (1) a time brokerage agreement (“TBA”) which allows Nexstar to program most of a station’s broadcast time, sell the station’s advertising time and retain the advertising revenue generated in exchange for monthly payments, based on the station’s monthly operating expenses, (2) a shared services agreement (“SSA”) which 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 as described in the SSA, or (3) a joint sales agreement (“JSA”) which permits Nexstar to sell certain of the station’s advertising time and retain a percentage of the related revenue, as described in the JSA. As of January 1, 2016, the Company adopted ASU No. 2015-02, Consolidation (Topic 810) - Amendments to the Consolidation Analysis Consolidated VIEs Mission Broadcasting, Inc. (“Mission”), Marshall Broadcasting Group, Inc. (“Marshall”), White Knight Broadcasting (“White Knight”) and Parker Broadcasting of Colorado, LLC (“Parker”) are consolidated by Nexstar because Nexstar is deemed under U.S. GAAP to have controlling financial interests in these entities for financial reporting purposes as a result of (1) local service agreements Nexstar has with the stations owned by these entities, (2) Nexstar’s guarantees of the obligations incurred under Mission’s and Marshall’s senior secured credit facilities (see Note 6), (3) Nexstar having power over significant activities affecting these entities’ economic performance, including budgeting for advertising revenue, certain advertising sales and, for Mission, White Knight and Parker, hiring and firing of sales force personnel and (4) purchase options granted by Mission and White Knight which permit Nexstar to acquire the assets and assume the liabilities of each Mission or White Knight station, subject to Federal Communications Commission (“FCC”) consent. The following table summarizes the various local service agreements Nexstar had in effect as of March 31, 2016 with Mission, Marshall, Parker and White Knight: Service Agreements Owner Full Power Stations TBA Only Mission WFXP and KHMT Parker KFQX SSA & JSA Mission KJTL, KLRT, KASN, KOLR, KCIT, KAMC, KRBC, KSAN, WUTR, WAWV, WYOU, KODE, WTVO, KTVE, WTVW and WVNY Marshall KLJB, KPEJ and KMSS White Knight WVLA, KFXK, KSHV Nexstar’s ability to receive cash from Mission, Marshall, Parker and White Knight is governed by the local service agreements. Under these agreements, Nexstar has received substantially all of the consolidated VIEs’ available cash, after satisfaction of operating costs and debt obligations. Nexstar anticipates it will continue to receive substantially all of the consolidated VIEs’ available cash, after satisfaction of operating costs and debt obligations. In compliance with FCC regulations for all the parties, Mission, Marshall, Parker and White Knight maintain complete responsibility for and control over programming, finances, personnel and operation of their stations. The carrying amounts and classification of the assets and liabilities of the VIEs which have been included in the Condensed Consolidated Balance Sheets were as follows (in thousands): March 31, December 31, 2016 2015 Current assets: Cash and cash equivalents $ 2,045 $ 6,137 Accounts receivable, net 20,089 16,400 Prepaid expenses and other current assets 2,867 3,460 Total current assets 25,001 25,997 Property and equipment, net 28,894 29,681 Goodwill 69,518 69,825 FCC licenses 73,561 74,312 Other intangible assets, net 56,606 58,053 Other noncurrent assets, net 20,874 22,572 Total assets $ 274,454 $ 280,440 Current liabilities: Current portion of debt $ 7,435 $ 6,985 Interest payable 28 28 Other current liabilities 13,174 14,288 Total current liabilities 20,637 21,301 Debt 274,220 276,131 Other noncurrent liabilities 26,534 26,427 Total liabilities $ 321,391 $ 323,859 Non-Consolidated VIEs Nexstar has an outsourcing agreement with Cunningham Broadcasting Corporation (“Cunningham”), which continues through December 31, 2017. Under the outsourcing agreement, Nexstar provides certain engineering, production, sales and administrative services for WYZZ, the FOX affiliate in the Peoria, Illinois market, through WMBD, the Nexstar television station in that market. During the term of the outsourcing agreement, Nexstar retains the broadcasting revenue and related expenses of WYZZ and is obligated to pay a monthly fee based on the combined operating cash flow of WMBD and WYZZ, as defined in the agreement. In connection with a proposed acquisition of four full power television stations from West Virginia Media Holdings, LLC (“WVMH”), Nexstar began providing programming and sales services to WVMH stations effective December 1, 2015. Pursuant to the terms of the TBA with WVMH, Nexstar will pay an aggregate base fee of $7.5 million in equal monthly payments from the effective date through the final closing of the proposed acquisition which Nexstar projects to occur at the end of 2016. In the event that the proposed acquisition is not consummated for reasons beyond the control of Nexstar and WVMH, the TBA will terminate no later than June 30, 2017. See Note 3 for additional information. Nexstar has determined that it has variable interests in WYZZ and the stations owned by WVMH. Nexstar has evaluated its arrangements with Cunningham and WVMH and has determined that it is not the primary beneficiary of the variable interests in these stations because it does not have the ultimate power to direct the activities that most significantly impact the stations’ economic performance, which we define as 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 VIEs. Under the local service agreements for WYZZ and stations owned by WVMH, Nexstar pays for certain operating expenses, and therefore may have unlimited exposure to any potential operating losses. Nexstar’s management believes that Nexstar’s minimum exposure to loss under the WYZZ and WVMH agreements consists of the fees paid to Cunningham and WVMH. Additionally, Nexstar indemnifies the owners of WYZZ and WVMH from and against all liability and claims arising out of or resulting from its activities, acts or omissions in connection with the respective agreements. The maximum potential amount of future payments Nexstar could be required to make for such indemnification is undeterminable at this time. As of March 31, 2016 and December 31, 2015, Nexstar had balances in accounts payable of $1.2 million and $0.8 million, respectively, for fees under these arrangements and had receivables for advertising aired on these stations of $5.2 million and $1.0 million, respectively. Fees incurred under these arrangements of $1.2 million and $0.1 million were included in direct operating expenses in the Condensed Consolidated Statements of Operations for the three months ended March 31, 2016 and 2015, respectively.
Financial Instruments	Financial Instruments The carrying amounts of cash and cash equivalents, accounts receivable, broadcast rights, accounts payable, broadcast rights 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 attributable to Nexstar 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 and restricted stock units outstanding during the period and reflect the potential dilution that could occur if common stock were issued upon exercise of stock options and vesting of restricted stock units. The following table shows the amounts used in computing the Company’s diluted shares (in thousands): Three Months Ended March 31, 2016 2015 Weighted average shares outstanding - basic 30,658 31,196 Dilutive effect of equity incentive plan instruments 880 1,060 Weighted average shares outstanding - diluted 31,538 32,256 The Company has outstanding stock options and unvested restricted stock units to acquire 920,000 and 1,043,000 weighted average shares of common stock for the three months ended March 31, 2016 and 2015, respectively, the effects of which were excluded from the calculation of diluted income per share, as their inclusion would have been anti-dilutive for the periods presented.
Income Taxes	Income Taxes The Company expects to be able to utilize the excess tax benefits related to stock option exercises that occurred in 2013 during the 2016 tax year. This resulted in a recognition of $13.2 million of deferred tax assets through accumulated paid in capital during the three months ended March 31, 2016.
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’ equity as previously reported.
Recent Accounting Pronouncements	Recent Accounting Pronouncements In May 2014, the FASB issued ASU No. 2014-09, Revenue from Contracts with Customers (Topic 606) In April 2015, the FASB issued ASU 2015-05, Intangibles—Goodwill and Other—Internal-Use Software (Subtopic 350-40): Customer’s Accounting for Fees Paid in a Cloud Computing Arrangement In February 2016, the FASB issued ASU No. 2016-02, Leases (Topic 842) In March 2016, the FASB issued ASU No. 2016-07, Investments – Equity Method and Joint Ventures (Topic 323): Simplifying the Transition to the Equity Method of Accounting In March 2016, the FASB issued ASU No. 2016-08, Revenue from Contracts with Customers (Topic 606): Principal versus Agent Considerations In March 2016, the FASB issued ASU No. 2016-09, Compensation - Stock Compensation (Topic 718): Improvements to Employee Share-Based Payment Accounting

Summary of Significant Accoun19

Summary of Significant Accounting Policies (Tables)	3 Months Ended
	Mar. 31, 2016
Consolidated VIEs	The carrying amounts and classification of the assets and liabilities of the VIEs which have been included in the Condensed Consolidated Balance Sheets were as follows (in thousands): March 31, December 31, 2016 2015 Current assets: Cash and cash equivalents $ 2,045 $ 6,137 Accounts receivable, net 20,089 16,400 Prepaid expenses and other current assets 2,867 3,460 Total current assets 25,001 25,997 Property and equipment, net 28,894 29,681 Goodwill 69,518 69,825 FCC licenses 73,561 74,312 Other intangible assets, net 56,606 58,053 Other noncurrent assets, net 20,874 22,572 Total assets $ 274,454 $ 280,440 Current liabilities: Current portion of debt $ 7,435 $ 6,985 Interest payable 28 28 Other current liabilities 13,174 14,288 Total current liabilities 20,637 21,301 Debt 274,220 276,131 Other noncurrent liabilities 26,534 26,427 Total liabilities $ 321,391 $ 323,859
Weighted Average Shares Outstanding	Basic income per share is computed by dividing the net income attributable to Nexstar 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 and restricted stock units outstanding during the period and reflect the potential dilution that could occur if common stock were issued upon exercise of stock options and vesting of restricted stock units. The following table shows the amounts used in computing the Company’s diluted shares (in thousands): Three Months Ended March 31, 2016 2015 Weighted average shares outstanding - basic 30,658 31,196 Dilutive effect of equity incentive plan instruments 880 1,060 Weighted average shares outstanding - diluted 31,538 32,256
Consolidated VIEs [Member]
Consolidated VIEs	The following are assets of consolidated VIEs that are not available to settle the obligations of Nexstar and liabilities of consolidated VIEs for which their creditors do not have recourse to the general credit of Nexstar (in thousands): March 31, December 31, 2016 2015 Current assets $ 3,573 $ 2,910 Property and equipment, net 3,865 4,004 Goodwill 17,875 18,182 FCC licenses 73,561 74,312 Other intangible assets, net 19,670 20,112 Other noncurrent assets, net 227 389 Total assets 118,771 119,909 Current liabilities 13,174 14,288 Noncurrent liabilities 26,534 26,427 Total liabilities $ 39,708 $ 40,715

Acquisitions and Dispositions (

Acquisitions and Dispositions (Tables)	3 Months Ended
	Mar. 31, 2016
WVMH [Member]
Business Acquisition [Line Items]
Schedule of Assets Acquired and Liabilities Assumed	Subject to final determination, which is expected to occur within twelve months of the acquisition date, the provisional fair values of the assets acquired and liabilities assumed in the first closing are as follows (in thousands): Accounts receivable $ 438 Prepaid expenses and other current assets 114 Property and equipment 18,362 Other intangible assets 3,308 Total assets acquired at first closing 22,222 Less: Accounts payable and accrued expenses (623 ) Less: Other noncurrent liabilities (307 ) Net assets acquired at first closing 21,292 Deposit on second closing 43,672 Total paid at first closing $ 64,964
Reiten [Member]
Business Acquisition [Line Items]
Schedule of Assets Acquired and Liabilities Assumed	Subject to final determination, which is expected to occur within twelve months of the acquisition date, the provisional fair values of the assets acquired and liabilities assumed in the acquisition are as follows (in thousands): Broadcast rights $ 13 Property and equipment 8,175 FCC licenses 9,779 Network affiliation agreements 16,084 Other intangible assets 2,051 Goodwill 7,911 Total assets acquired 44,013 Less: Broadcast rights payable (13 ) Less: Accrued expenses (2 ) Net assets acquired $ 43,998
KCWI [Member]
Business Acquisition [Line Items]
Schedule of Assets Acquired and Liabilities Assumed	Subject to final determination, which is expected to occur within twelve months of the acquisition date, the provisional fair values of the assets acquired and liabilities assumed in the acquisition are as follows (in thousands): Accounts receivable $ 367 Broadcast rights 1,740 Prepaid expenses and other current assets 15 Property and equipment 900 FCC licenses 2,150 Other intangible assets 230 Goodwill 351 Total assets acquired 5,753 Less: Broadcast rights payable (1,886 ) Less: Accrued expenses (18 ) Net assets acquired $ 3,849

Intangible Assets and Goodwill

Intangible Assets and Goodwill (Tables)	3 Months Ended
	Mar. 31, 2016
Goodwill And Intangible Assets Disclosure [Abstract]
Intangible Assets Subject to Amortization	Intangible assets subject to amortization consisted of the following (in thousands): Estimated March 31, 2016 December 31, 2015 useful life, Accumulated Accumulated in years Gross Amortization Net Gross Amortization Net Network affiliation agreements 15 $ 630,676 $ (344,418 ) $ 286,258 $ 614,592 $ (338,016 ) $ 276,576 Other definite-lived intangible assets 1-15 90,510 (52,813 ) 37,697 84,921 (47,136 ) 37,785 Other intangible assets $ 721,186 $ (397,231 ) $ 323,955 $ 699,513 $ (385,152 ) $ 314,361
Estimated Amortization Expense of Definite-Lived Intangible Assets	The following table presents the Company’s estimate of amortization expense for the remainder of 2016, each of the five succeeding years ended December 31 and thereafter for definite-lived intangible assets as of March 31, 2016 (in thousands): Remainder of 2016 $ 37,025 2017 40,953 2018 30,073 2019 27,160 2020 24,005 2021 23,802 Thereafter 140,937 $ 323,955
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 Balances as of December 31, 2015 $ 497,653 $ (45,991 ) $ 451,662 $ 538,756 (49,421 ) $ 489,335 Acquisitions (See Note 3) 8,262 - 8,262 11,929 - 11,929 Balances as of March 31, 2016 $ 505,915 $ (45,991 ) $ 459,924 $ 550,685 $ (49,421 ) $ 501,264

Accrued Expenses (Tables)

Accrued Expenses (Tables)	3 Months Ended
	Mar. 31, 2016
Payables And Accruals [Abstract]
Accrued Expenses	Accrued expenses consisted of the following (in thousands): March 31, December 31, 2016 2015 Compensation and related taxes $ 15,026 $ 15,810 Network affiliation fees 21,229 22,324 Other 18,095 22,425 $ 54,350 $ 60,559

Debt (Tables)

Debt (Tables)	3 Months Ended
	Mar. 31, 2016
Debt Disclosure [Abstract]
Long Term Debt	Long-term debt consisted of the following (in thousands): March 31, December 31, 2016 2015 Term loans, net of financing costs and discount of $8,188 and $8,715, respectively $ 677,853 $ 682,223 Revolving loans 44,000 2,000 6.875% Senior unsecured notes due 2020, net of financing costs and discount of $4,997 and $5,223, respectively 520,003 519,777 6.125% Senior unsecured notes due 2022, net of financing costs of $2,692 and $2,786, respectively 272,308 272,214 1,514,164 1,476,214 Less: current portion (24,265 ) (22,139 ) $ 1,489,899 $ 1,454,075
Fair Value of Debt	The aggregate carrying amounts and estimated fair values of the Company’s debt were as follows (in thousands): March 31, 2016 December 31, 2015 Carrying Fair Carrying Fair Amount Value Amount Value Term loans (1) $ 677,853 $ 680,000 $ 682,223 $ 678,045 Revolving loans (1) 44,000 43,424 2,000 1,961 6.875% Senior unsecured notes (2) 520,003 543,375 519,777 534,188 6.125% Senior unsecured notes (2) 272,308 273,625 272,214 269,500 (1) The fair value of senior secured credit facilities is computed based on borrowing rates currently available to the Company 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 the Company’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.

Segment Data (Tables)

Segment Data (Tables)	3 Months Ended
	Mar. 31, 2016
Segment Reporting [Abstract]
Schedule of Segment Financial Information	Segment financial information is included in the following tables for the periods presented (in thousands): Three Months ended March 31, 2016 Broadcasting Other Consolidated Net revenue $ 241,088 $ 14,570 $ 255,658 Depreciation 10,987 1,571 12,558 Amortization of intangible assets 8,711 3,368 12,079 Income (loss) from operations 76,928 (18,999 ) 57,929 Three Months ended March 31, 2015 Broadcasting Other Consolidated Net revenue $ 190,845 $ 10,890 $ 201,735 Depreciation 9,704 1,168 10,872 Amortization of intangible assets 10,888 2,172 13,060 Income (loss) from operations 52,674 (14,770 ) 37,904 As of March 31, 2016 Broadcasting Other Consolidated Goodwill $ 421,227 $ 38,697 $ 459,924 Assets 1,722,125 170,060 1,892,185 As of December 31, 2015 Broadcasting Other Consolidated Goodwill $ 412,965 $ 38,697 $ 451,662 Assets 1,660,737 174,397 1,835,134

Condensed Consolidating Finan25

Condensed Consolidating Financial Information (Tables)	3 Months Ended
	Mar. 31, 2016
Condensed Financial Information Of Parent Company Only Disclosure [Abstract]
Schedule of Condensed Consolidating Balance Sheet	CONDENSED CONSOLIDATING BALANCE SHEET As of March 31, 2016 (in thousands) Nexstar Non- Consolidated Nexstar Broadcasting Mission Guarantors Eliminations Company ASSETS Current assets: Cash and cash equivalents $ - $ 3,897 $ 1,330 $ 7,594 $ - $ 12,821 Accounts receivable - 168,740 11,985 19,274 - 199,999 Amounts due from consolidated entities - 16,272 60,056 - (76,328 ) - Other current assets - 18,255 1,120 2,132 - 21,507 Total current assets - 207,164 74,491 29,000 (76,328 ) 234,327 Investments in subsidiaries 202,048 38,259 - - (240,307 ) - Amounts due from consolidated entities - 124,657 - - (124,657 ) - Property and equipment, net - 253,914 21,344 12,397 - 287,655 Goodwill - 351,709 32,489 75,726 - 459,924 FCC licenses - 427,703 41,563 31,998 - 501,264 Other intangible assets, net - 243,308 18,287 62,360 - 323,955 Other noncurrent assets - 64,132 19,339 1,589 - 85,060 Total assets $ 202,048 $ 1,710,846 $ 207,513 $ 213,070 $ (441,292 ) $ 1,892,185 LIABILITIES AND STOCKHOLDERS' EQUITY (DEFICIT) Current liabilities: Current portion of debt $ - $ 16,830 $ 2,335 $ 5,100 $ - $ 24,265 Accounts payable - 18,520 1,651 4,754 - 24,925 Amounts due to consolidated entities - 55,005 - 21,323 (76,328 ) - Other current liabilities - 78,439 6,717 10,765 - 95,921 Total current liabilities - 168,794 10,703 41,942 (76,328 ) 145,111 Debt - 1,215,679 222,781 51,439 - 1,489,899 Amounts due to consolidated entities 54,307 - - 70,350 (124,657 ) - Other noncurrent liabilities - 115,990 10,397 13,238 - 139,625 Total liabilities 54,307 1,500,463 243,881 176,969 (200,985 ) 1,774,635 Total stockholders' equity (deficit) 147,741 210,383 (36,368 ) 29,955 (240,307 ) 111,404 Noncontrolling interests in consolidated variable interest entities - - - 6,146 - 6,146 Total liabilities and stockholders' equity (deficit) $ 202,048 $ 1,710,846 $ 207,513 $ 213,070 $ (441,292 ) $ 1,892,185 CONDENSED CONSOLIDATING BALANCE SHEET As of December 31, 2015 (in thousands) Nexstar Non- Consolidated Nexstar Broadcasting Mission Guarantors Eliminations Company ASSETS Current assets: Cash and cash equivalents $ - $ 27,492 $ 4,361 $ 11,563 $ - $ 43,416 Accounts receivable - 163,008 9,370 20,613 - 192,991 Amounts due from consolidated entities - 10,600 51,978 - (62,578 ) - Other current assets - 19,984 1,364 2,273 - 23,621 Total current assets - 221,084 67,073 34,449 (62,578 ) 260,028 Investments in subsidiaries 184,332 38,931 - - (223,263 ) - Amounts due from consolidated entities - 133,659 - - (133,659 ) - Property and equipment, net - 232,206 21,891 12,486 - 266,583 Goodwill - 343,140 32,489 76,033 - 451,662 FCC licenses - 415,024 41,563 32,748 - 489,335 Other intangible assets, net - 228,936 18,892 66,533 - 314,361 Other noncurrent assets - 30,539 20,418 2,208 - 53,165 Total assets $ 184,332 $ 1,643,519 $ 202,326 $ 224,457 $ (419,500 ) $ 1,835,134 LIABILITIES AND STOCKHOLDERS' EQUITY (DEFICIT) Current liabilities: Current portion of debt $ - $ 15,154 $ 2,335 $ 4,650 $ - $ 22,139 Accounts payable - 14,705 906 10,325 - 25,936 Amounts due to consolidated entities - 47,700 - 14,878 (62,578 ) - Other current liabilities - 78,868 6,909 12,209 - 97,986 Total current liabilities - 156,427 10,150 42,062 (62,578 ) 146,061 Debt - 1,177,944 223,235 52,896 - 1,454,075 Amounts due to consolidated entities 63,309 - - 70,350 (133,659 ) - Other noncurrent liabilities - 118,048 9,351 21,226 - 148,625 Total liabilities 63,309 1,452,419 242,736 186,534 (196,237 ) 1,748,761 Total Nexstar Broadcasting Group, Inc. stockholders' equity (deficit) 121,023 191,100 (40,410 ) 32,224 (223,263 ) 80,674 Noncontrolling interest in a consolidated variable interest entity - - - 5,699 - 5,699 Total liabilities and stockholders' equity (deficit) $ 184,332 $ 1,643,519 $ 202,326 $ 224,457 $ (419,500 ) $ 1,835,134
Schedule of Condensed Consolidating Statement of Operations	CONDENSED CONSOLIDATING STATEMENT OF OPERATIONS Three Months Ended March 31, 2016 (in thousands) Nexstar Non- Consolidated Nexstar Broadcasting Mission Guarantors Eliminations Company Net broadcast revenue (including trade and barter) $ - $ 215,576 $ 15,160 $ 24,922 $ - $ 255,658 Revenue between consolidated entities - 8,605 9,201 2,699 (20,505 ) - Net revenue - 224,181 24,361 27,621 (20,505 ) 255,658 Operating expenses: Direct operating expenses, excluding depreciation and amortization - 68,536 7,487 14,110 (10 ) 90,123 Selling, general, and administrative expenses, excluding depreciation and amortization - 63,578 907 4,798 (1,118 ) 68,165 Local service agreement fees between consolidated entities - 10,772 4,500 4,105 (19,377 ) - Amortization of broadcast rights - 12,393 1,392 1,019 - 14,804 Amortization of intangible assets - 7,308 605 4,166 - 12,079 Depreciation - 11,184 607 767 - 12,558 Total operating expenses - 173,771 15,498 28,965 (20,505 ) 197,729 Income (loss) from operations - 50,410 8,863 (1,344 ) - 57,929 Interest expense, net - (17,940 ) (2,313 ) (401 ) - (20,654 ) Other expenses - (136 ) - - - (136 ) Equity in income of subsidiaries 17,715 - - - (17,715 ) - Income (loss) before income taxes 17,715 32,334 6,550 (1,745 ) (17,715 ) 37,139 Income tax (expense) benefit - (13,051 ) (2,508 ) 694 - (14,865 ) Net income (loss) 17,715 19,283 4,042 (1,051 ) (17,715 ) 22,274 Net income attributable to noncontrolling interests - - - (547 ) - (547 ) Net income (loss) attributable to Nexstar $ 17,715 $ 19,283 $ 4,042 $ (1,598 ) $ (17,715 ) $ 21,727 CONDENSED CONSOLIDATING STATEMENT OF OPERATIONS Three Months Ended March 31, 2015 (in thousands) Nexstar Non- Consolidated Nexstar Broadcasting Mission Guarantors Eliminations Company Net broadcast revenue (including trade and barter) $ - $ 170,500 $ 12,110 $ 19,125 $ - $ 201,735 Revenue between consolidated entities - 6,469 8,554 2,781 (17,804 ) - Net revenue - 176,969 20,664 21,906 (17,804 ) 201,735 Operating expenses: Direct operating expenses, excluding depreciation and amortization - 53,531 5,188 9,310 - 68,029 Selling, general, and administrative expenses, excluding depreciation and amortization - 52,835 862 4,447 (855 ) 57,289 Local service agreement fees between consolidated entities - 10,480 2,445 4,024 (16,949 ) - Amortization of broadcast rights - 11,662 1,468 1,451 - 14,581 Amortization of intangible assets - 8,556 610 3,894 - 13,060 Depreciation - 9,579 602 691 - 10,872 Total operating expenses - 146,643 11,175 23,817 (17,804 ) 163,831 Income (loss) from operations - 30,326 9,489 (1,911 ) - 37,904 Interest expense, net - (16,580 ) (2,316 ) (397 ) - (19,293 ) Other expenses - (118 ) - - - (118 ) Equity in income of subsidiaries 8,868 - - - (8,868 ) - Income (loss) before income taxes 8,868 13,628 7,173 (2,308 ) (8,868 ) 18,493 Income tax (expense) benefit - (4,553 ) (2,821 ) 793 - (6,581 ) Net income (loss) 8,868 9,075 4,352 (1,515 ) (8,868 ) 11,912 Net loss attributable to noncontrolling interests - - - 995 - 995 Net income (loss) attributable to Nexstar $ 8,868 $ 9,075 $ 4,352 $ (520 ) $ (8,868 ) $ 12,907
Schedule of Condensed Consolidating Cash Flow Statement	CONDENSED CONSOLIDATING STATEMENT OF CASH FLOWS Three Months Ended March 31, 2016 (in thousands) Nexstar Non- Consolidated Nexstar Broadcasting Mission Guarantors Eliminations Company Cash flows from operating activities $ - $ 43,093 $ (2,389 ) $ (2,273 ) $ - $ 38,431 Cash flows from investing activities: Purchases of property and equipment - (7,038 ) (57 ) (646 ) - (7,741 ) Deposits and payments for acquisitions - (103,971 ) - - - (103,971 ) Other investing activities - 160 - - - 160 Net cash used in investing activities - (110,849 ) (57 ) (646 ) - (111,552 ) Cash flows from financing activities: Proceeds from long-term debt - 58,000 - - - 58,000 Repayments of long-term debt - (19,262 ) (585 ) (1,050 ) - (20,897 ) Common stock dividends paid (7,355 ) - - - - (7,355 ) Inter-company payments 7,355 (7,355 ) - - - - Excess tax benefit from stock option exercises - 13,224 - - - 13,224 Other financing activities - (446 ) - - - (446 ) Net cash provided by (used in) financing activities - 44,161 (585 ) (1,050 ) - 42,526 Net decrease in cash and cash equivalents - (23,595 ) (3,031 ) (3,969 ) - (30,595 ) Cash and cash equivalents at beginning of period - 27,492 4,361 11,563 - 43,416 Cash and cash equivalents at end of period $ - $ 3,897 $ 1,330 $ 7,594 $ - $ 12,821 CONDENSED CONSOLIDATING STATEMENT OF CASH FLOWS Three Months Ended March 31, 2015 (in thousands) Nexstar Non- Consolidated Nexstar Broadcasting Mission Guarantors Eliminations Company Cash flows from operating activities $ - $ 38,613 $ 8,106 $ 2,907 $ - $ 49,626 Cash flows from investing activities: Purchases of property and equipment - (5,974 ) (32 ) (571 ) 176 (6,401 ) Deposits and payments for acquisitions - (503,200 ) - (79 ) 43,300 (459,979 ) Proceeds from sale of a station - 70,105 - - (43,300 ) 26,805 Other investing activities - 723 150 180 (176 ) 877 Net cash (used in) provided by investing activities - (438,346 ) 118 (470 ) - (438,698 ) Cash flows from financing activities: Proceeds from long-term debt - 409,950 - 2,000 - 411,950 Repayments of long-term debt - (97,431 ) (5,959 ) (750 ) - (104,140 ) Common stock dividends paid (5,921 ) - - - - (5,921 ) Inter-company payments 4,456 (4,456 ) - - - - Other financing activities 1,465 (1,600 ) (8 ) (2 ) - (145 ) Net financing - 306,463 (5,967 ) 1,248 - 301,744 Net (decrease) increase in cash and cash equivalents - (93,270 ) 2,257 3,685 - (87,328 ) Cash and cash equivalents at beginning of period - 130,472 880 560 - 131,912 Cash and cash equivalents at end of period $ - $ 37,202 $ 3,137 $ 4,245 $ - $ 44,584

Organization and Business Ope26

Organization and Business Operations (Details)	Mar. 31, 2016TelevisionStationMarket
Organization Consolidation And Presentation Of Financial Statements [Abstract]
Number of full power television stations owned, operated, programmed or provided sales and other services	104
Number of markets in various states | Market	62
Number of full power television stations owned or operated by independent third parties	30

Summary of Significant Accoun27

Summary of Significant Accounting Policies - Consolidated VIEs (Details) - USD ($) $ in Thousands		Mar. 31, 2016	Dec. 31, 2015	Mar. 31, 2015	Dec. 31, 2014
Current assets:
Cash and cash equivalents		$ 12,821	$ 43,416	$ 44,584	$ 131,912
Accounts receivable, net		199,999	192,991
Prepaid expenses and other current assets		6,570	7,324
Total current assets		234,327	260,028
Property and equipment, net		287,655	266,583
Goodwill		459,924	451,662
FCC licenses		501,264	489,335
Other intangible assets, net		323,955	314,361
Other noncurrent assets, net		85,060	53,165
Total assets	[1]	1,892,185	1,835,134
Current liabilities:
Current portion of debt		24,265	22,139
Interest payable		15,833	10,939
Other current liabilities		9,914	8,978
Total current liabilities		145,111	146,061
Debt		1,489,899	1,454,075
Other noncurrent liabilities		45,100	46,861
Total liabilities	[1]	1,774,635	1,748,761
Consolidated VIEs [Member]
Variable Interest Entity [Line Items]
Consolidated VIEs, Assets		118,771	119,909
Consolidated VIEs, Liabilities		39,708	40,715
Current assets:
Cash and cash equivalents		2,045	6,137
Accounts receivable, net		20,089	16,400
Prepaid expenses and other current assets		2,867	3,460
Total current assets		25,001	25,997
Property and equipment, net		28,894	29,681
Goodwill		69,518	69,825
FCC licenses		73,561	74,312
Other intangible assets, net		56,606	58,053
Other noncurrent assets, net		20,874	22,572
Total assets		274,454	280,440
Current liabilities:
Current portion of debt		7,435	6,985
Interest payable		28	28
Other current liabilities		13,174	14,288
Total current liabilities		20,637	21,301
Debt		274,220	276,131
Other noncurrent liabilities		26,534	26,427
Total liabilities		321,391	323,859
Consolidated VIEs [Member] | Current assets [Member]
Variable Interest Entity [Line Items]
Consolidated VIEs, Assets		3,573	2,910
Consolidated VIEs [Member] | Property and equipment, net [Member]
Variable Interest Entity [Line Items]
Consolidated VIEs, Assets		3,865	4,004
Consolidated VIEs [Member] | Goodwill [Member]
Variable Interest Entity [Line Items]
Consolidated VIEs, Assets		17,875	18,182
Consolidated VIEs [Member] | FCC licenses [Member]
Variable Interest Entity [Line Items]
Consolidated VIEs, Assets		73,561	74,312
Consolidated VIEs [Member] | Other intangible assets, net [Member]
Variable Interest Entity [Line Items]
Consolidated VIEs, Assets		19,670	20,112
Consolidated VIEs [Member] | Other noncurrent assets, net [Member]
Variable Interest Entity [Line Items]
Consolidated VIEs, Assets		227	389
Consolidated VIEs [Member] | Current liabilities [Member]
Variable Interest Entity [Line Items]
Consolidated VIEs, Liabilities		13,174	14,288
Consolidated VIEs [Member] | Noncurrent liabilities [Member]
Variable Interest Entity [Line Items]
Consolidated VIEs, Liabilities		$ 26,534	$ 26,427
[1]	The consolidated total assets as of March 31, 2016 and December 31, 2015 include certain assets held by consolidated VIEs of $118.8 million and $119.9 million, respectively, which are not available to be used to settle the obligations of Nexstar. The consolidated total liabilities as of March 31, 2016 and December 31, 2015 include certain liabilities of consolidated VIEs of $39.7 million and $40.7 million, respectively, for which the creditors of the VIEs have no recourse to the general credit of Nexstar. See Note 2 for additional information

Summary of Significant Accoun28

Summary of Significant Accounting Policies - Additional Information (Details) $ in Thousands	3 Months Ended
	Mar. 31, 2016USD ($)TelevisionStationshares	Mar. 31, 2015USD ($)shares	Dec. 31, 2015USD ($)	Dec. 01, 2015USD ($)
Earnings Per Share Basic And Diluted Other Disclosures [Abstract]
Stock options and unvested restricted stock units with potentially dilutive effect (in shares) | shares	920,000	1,043,000
Excess tax benefit from stock option exercises	$ 13,224
Additional Paid-In Capital [Member]
Earnings Per Share Basic And Diluted Other Disclosures [Abstract]
Excess tax benefit from stock option exercises	$ 13,224
Variable Interest Entity, Not Primary Beneficiary [Member] | WVMH [Member]
Variable Interest Entity Nonconsolidated Carrying Amount Assets and Liabilities [Abstract]
Number of stations proposed to acquire | TelevisionStation	4
Aggregate base fee				$ 7,500
Nonconsolidated VIEs [Member]
Variable Interest Entity Nonconsolidated Carrying Amount Assets and Liabilities [Abstract]
Accounts payable for fees	$ 1,200		$ 800
Receivable for advertisements	5,200		$ 1,000
Payments made under outsourcing agreement	$ 1,200	$ 100

Summary of Significant Accoun29

Summary of Significant Accounting Policies - Weighted Average Shares Outstanding (Details) - shares shares in Thousands	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Earnings Per Share Basic And Diluted Other Disclosures [Abstract]
Weighted average shares outstanding - basic	30,658	31,196
Dilutive effect of equity incentive plan instruments	880	1,060
Weighted average shares outstanding - diluted	31,538	32,256

Acquisitions and Dispositions -

Acquisitions and Dispositions - WVMH - Additional Information (Details) - WVMH [Member] $ in Thousands	Jan. 04, 2016USD ($)	Nov. 16, 2015USD ($)TelevisionStation	Mar. 31, 2016USD ($)
Business Acquisition [Line Items]
Number of television stations to be acquired | TelevisionStation		4
Purchase price of entities to be acquired		$ 130,000
Cash paid in business acquisition	$ 64,964
Deposits and payments for acquisitions	43,672	$ 6,500
Remaining purchase price expected to be paid	$ 65,000
Acquisition related costs			$ 100

Acquisitions and Dispositions31

Acquisitions and Dispositions - Fair Values of Assets Acquired and Liabilities Assumed (Details) - USD ($) $ in Thousands	Jan. 04, 2016	Nov. 16, 2015	Sep. 30, 2015	Oct. 24, 2014	Mar. 31, 2016	Mar. 14, 2016	Jan. 31, 2016	Dec. 31, 2015
Business Acquisition [Line Items]
Goodwill					$ 459,924			$ 451,662
WVMH [Member]
Business Acquisition [Line Items]
Accounts receivable	$ 438
Prepaid expenses and other current assets	114
Property and equipment	18,362
Total assets acquired	22,222
Less: Accounts payable and accrued expenses	(623)
Less: Other noncurrent liabilities	(307)
Net assets acquired	21,292
Deposits and payments for acquisitions	43,672	$ 6,500
Cash paid in business acquisition	64,964
WVMH [Member] | Other definite-lived intangible assets [Member]
Business Acquisition [Line Items]
Finite-lived intangible assets	$ 3,308
Reiten [Member]
Business Acquisition [Line Items]
Broadcast rights							$ 13
Property and equipment							8,175
FCC licenses							9,779
Goodwill							7,911
Total assets acquired							44,013
Less: Broadcast rights payable							(13)
Less: Accounts payable and accrued expenses							(2)
Net assets acquired							43,998
Deposits and payments for acquisitions			$ 2,200
Reiten [Member] | Network affiliation agreements [Member]
Business Acquisition [Line Items]
Finite-lived intangible assets							16,084
Reiten [Member] | Other definite-lived intangible assets [Member]
Business Acquisition [Line Items]
Finite-lived intangible assets							$ 2,051
KCWI [Member]
Business Acquisition [Line Items]
Accounts receivable						$ 367
Broadcast rights						1,740
Prepaid expenses and other current assets						15
Property and equipment						900
FCC licenses						2,150
Goodwill						351
Total assets acquired						5,753
Less: Broadcast rights payable						(1,886)
Less: Accounts payable and accrued expenses						(18)
Net assets acquired						3,849
Deposits and payments for acquisitions				$ 200
KCWI [Member] | Other definite-lived intangible assets [Member]
Business Acquisition [Line Items]
Finite-lived intangible assets						$ 230

Acquisitions and Dispositions32

Acquisitions and Dispositions - Reiten - Additional Information (Details) $ in Thousands	Feb. 01, 2016USD ($)TelevisionStation	Sep. 30, 2015USD ($)	Mar. 31, 2016USD ($)	Mar. 31, 2016USD ($)	Mar. 31, 2015USD ($)	Dec. 31, 2015
Business Acquisition [Line Items]
Net revenue				$ 255,658	$ 201,735
Operating income (loss)				$ 57,929	$ 37,904
Network affiliation agreements [Member]
Business Acquisition [Line Items]
Network affiliation agreements useful life				15 years		15 years
Reiten [Member]
Business Acquisition [Line Items]
Acquisition date	Feb. 1, 2016
Number of television stations acquired | TelevisionStation	4
Purchase price of entities acquired	$ 44,000
Deposit paid upon signing an agreement to acquire a business		$ 2,200
Acquisition related costs				$ 100
Net revenue			$ 2,600
Operating income (loss)			$ 400
Reiten [Member] | Network affiliation agreements [Member]
Business Acquisition [Line Items]
Network affiliation agreements useful life	15 years
Reiten [Member] | Other definite-lived intangible assets [Member]
Business Acquisition [Line Items]
Weighted average estimated useful life of other intangible assets	2 years 6 months

Acquisitions and Dispositions33

Acquisitions and Dispositions - KCWI - Additional Information (Details) - KCWI [Member] - USD ($)	Mar. 14, 2016	Oct. 24, 2014	Mar. 31, 2016
Business Acquisition [Line Items]
Purchase price of entities to be acquired	$ 3,800,000
Deposits and payments for acquisitions		$ 200,000
Acquisition related costs			$ 0

Acquisitions and Dispositions34

Acquisitions and Dispositions - Media General - Additional Information (Details) - Media General Future Acquisition [Member] $ / shares in Units, $ in Millions	Jan. 27, 2016USD ($)$ / shares	Mar. 31, 2016USD ($)$ / shares
Business Acquisition [Line Items]
Outstanding equity acquired, price per share | $ / shares	$ 10.55
Purchase price of entities to be acquired	$ 2,100
Acquisition related costs		$ 4.3
Termination fee receivable from Media General on superior proposal	80
Termination fee receivable from Media General when shareholder vote not obtained	20
Termination fee payable by company under certain circumstances	80
Termination fee payable by company when shareholder vote not obtained	20
Maximum borrowing capacity	$ 4,700
Class A Common Stock [Member]
Business Acquisition [Line Items]
Percentage of shares issued for each share outstanding	0.1249
Common stock market , price per share | $ / shares		$ 44.27

Intangible Assets and Goodwil35

Intangible Assets and Goodwill - Intangible Assets Subject to Amortization (Details) - USD ($) $ in Thousands	3 Months Ended	12 Months Ended
	Mar. 31, 2016	Dec. 31, 2015
Finite-Lived Intangible Assets [Line Items]
Gross	$ 721,186	$ 699,513
Accumulated Amortization	(397,231)	(385,152)
Net	$ 323,955	$ 314,361
Network affiliation agreements [Member]
Finite-Lived Intangible Assets [Line Items]
Estimated useful life, in years	15 years	15 years
Gross	$ 630,676	$ 614,592
Accumulated Amortization	(344,418)	(338,016)
Net	286,258	276,576
Other definite-lived intangible assets [Member]
Finite-Lived Intangible Assets [Line Items]
Gross	90,510	84,921
Accumulated Amortization	(52,813)	(47,136)
Net	$ 37,697	$ 37,785
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

Intangible Assets and Goodwil36

Intangible Assets and Goodwill - Estimated Amortization Expense of Definite-Lived Intangible Assets (Details) - USD ($) $ in Thousands	Mar. 31, 2016	Dec. 31, 2015
Finite Lived Intangible Assets Future Amortization Expense Current And Five Succeeding Fiscal Years [Abstract]
Remainder of 2016	$ 37,025
2,017	40,953
2,018	30,073
2,019	27,160
2,020	24,005
2,021	23,802
Thereafter	140,937
Net	$ 323,955	$ 314,361

Intangible Assets and Goodwil37

Intangible Assets and Goodwill - Goodwill and FCC Licenses (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2016	Dec. 31, 2015
Goodwill [Roll Forward]
Goodwill, Gross	$ 505,915	$ 497,653
Goodwill, Accumulated Impairment	(45,991)	(45,991)
Goodwill, Net	459,924	451,662
Goodwill Acquisitions, Net	8,262
FCC Licenses [Abstract]
FCC Licenses, Net	501,264	489,335
Licensing Agreements [Member]
FCC Licenses [Abstract]
FCC Licenses, Gross	550,685	538,756
FCC Licenses, Accumulated Impairment	(49,421)	(49,421)
FCC Licenses, Net	501,264	$ 489,335
FCC Licenses Acquisitions, Net	$ 11,929

Accrued Expenses - Accrued Expe

Accrued Expenses - Accrued Expenses (Details) - USD ($) $ in Thousands	Mar. 31, 2016	Dec. 31, 2015
Payables And Accruals [Abstract]
Compensation and related taxes	$ 15,026	$ 15,810
Network affiliation fees	21,229	22,324
Other	18,095	22,425
Accrued expenses	$ 54,350	$ 60,559

Debt - Long Term Debt (Details)

Debt - Long Term Debt (Details) - USD ($) $ in Thousands	Mar. 31, 2016	Dec. 31, 2015
Long term Debt [Abstract]
Debt	$ 1,514,164	$ 1,476,214
Less: current portion	(24,265)	(22,139)
Debt, noncurrent	1,489,899	1,454,075
Notes Payable to Banks [Member] | Term Loans [Member]
Long term Debt [Abstract]
Debt	677,853	682,223
Revolving loans [Member]
Long term Debt [Abstract]
Debt	44,000	2,000
Senior Subordinated Notes [Member] | 6.875 % Due 2020 [Member]
Long term Debt [Abstract]
Debt	520,003	519,777
Senior Subordinated Notes [Member] | 6.125% Due 2022 [Member]
Long term Debt [Abstract]
Debt	$ 272,308	$ 272,214

Debt - Long Term Debt (Parenthe

Debt - Long Term Debt (Parenthetical) (Details) - USD ($) $ in Thousands	Mar. 31, 2016	Dec. 31, 2015
Notes Payable to Banks [Member] | Term Loans [Member]
Long term Debt [Abstract]
Debt financing costs and discount	$ 8,188	$ 8,715
Senior Subordinated Notes [Member] | 6.875 % Due 2020 [Member]
Long term Debt [Abstract]
Debt financing costs and discount	$ 4,997	$ 5,223
Interest rate	6.875%	6.875%
Senior Subordinated Notes [Member] | 6.125% Due 2022 [Member]
Long term Debt [Abstract]
Debt financing costs and discount	$ 2,692	$ 2,786
Interest rate	6.125%	6.125%

Debt - Additional Information (

Debt - Additional Information (Details) - USD ($) $ in Millions	May. 04, 2016	Feb. 29, 2016	Mar. 31, 2016
Revolving loans [Member]
Debt Instrument [Line Items]
Available borrowing capacity			$ 61
Notes Payable to Banks [Member] | Term Loans [Member]
Debt Instrument [Line Items]
Payment of contractual maturities under senior secured credit facilities			4.9
Nexstar [Member] | Revolving loans [Member]
Debt Instrument [Line Items]
Proceeds from long-term debt		$ 58
Repayment of debt			$ 16
Nexstar [Member] | Revolving loans [Member] | Subsequent Event [Member]
Debt Instrument [Line Items]
Repayment of debt	$ 14

Debt - Fair Value of Debt (Deta

Debt - Fair Value of Debt (Details) - USD ($) $ in Thousands		Mar. 31, 2016	Dec. 31, 2015
Notes Payable to Banks [Member] | Term Loans [Member] | Carrying Amount [Member] | Level 3 [Member]
Fair Value of debt [Line Items]
Carrying Amount and Fair Value of Debt	[1]	$ 677,853	$ 682,223
Notes Payable to Banks [Member] | Term Loans [Member] | Fair Value [Member] | Level 3 [Member]
Fair Value of debt [Line Items]
Carrying Amount and Fair Value of Debt	[1]	680,000	678,045
Revolving loans [Member] | Carrying Amount [Member] | Level 3 [Member]
Fair Value of debt [Line Items]
Carrying Amount and Fair Value of Debt	[1]	44,000	2,000
Revolving loans [Member] | Fair Value [Member] | Level 3 [Member]
Fair Value of debt [Line Items]
Carrying Amount and Fair Value of Debt	[1]	43,424	1,961
Senior Subordinated Notes [Member] | 6.875 % Due 2020 [Member] | Carrying Amount [Member] | Level 2 [Member]
Fair Value of debt [Line Items]
Carrying Amount and Fair Value of Debt	[2]	520,003	519,777
Senior Subordinated Notes [Member] | 6.875 % Due 2020 [Member] | Fair Value [Member] | Level 2 [Member]
Fair Value of debt [Line Items]
Carrying Amount and Fair Value of Debt	[2]	543,375	534,188
Senior Subordinated Notes [Member] | 6.125% Due 2022 [Member] | Carrying Amount [Member] | Level 2 [Member]
Fair Value of debt [Line Items]
Carrying Amount and Fair Value of Debt	[2]	272,308	272,214
Senior Subordinated Notes [Member] | 6.125% Due 2022 [Member] | Fair Value [Member] | Level 2 [Member]
Fair Value of debt [Line Items]
Carrying Amount and Fair Value of Debt	[2]	$ 273,625	$ 269,500
[1]	The fair value of senior secured credit facilities is computed based on borrowing rates currently available to the Company 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 the Company’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.

Commitments and Contingencies -

Commitments and Contingencies - Additional Information (Details) - Nexstar [Member] $ in Millions	Mar. 31, 2016USD ($)
Financial Guarantee of Mission Debt [Member]
Guarantees of Mission and Marshall Debt [Abstract]
Maximum commitment under senior secured credit facility	$ 233.1
Commitment under senior secured credit facility at carrying value	225.1
Financial Guarantee of Marshall Debt [Member]
Guarantees of Mission and Marshall Debt [Abstract]
Commitment under senior secured credit facility at carrying value	$ 56.5

Segment Data - Summary of Segme

Segment Data - Summary of Segment Financial Information (Details) - USD ($) $ in Thousands		3 Months Ended
		Mar. 31, 2016	Mar. 31, 2015	Dec. 31, 2015
Segment Reporting Information [Line Items]
Net revenue		$ 255,658	$ 201,735
Depreciation		12,558	10,872
Amortization of intangible assets		12,079	13,060
Income (loss) from operations		57,929	37,904
Goodwill		459,924		$ 451,662
Assets	[1]	1,892,185		1,835,134
Broadcasting [Member]
Segment Reporting Information [Line Items]
Net revenue		241,088	190,845
Depreciation		10,987	9,704
Amortization of intangible assets		8,711	10,888
Income (loss) from operations		76,928	52,674
Goodwill		421,227		412,965
Assets		1,722,125		1,660,737
Other [Member]
Segment Reporting Information [Line Items]
Net revenue		14,570	10,890
Depreciation		1,571	1,168
Amortization of intangible assets		3,368	2,172
Income (loss) from operations		(18,999)	$ (14,770)
Goodwill		38,697		38,697
Assets		$ 170,060		$ 174,397
[1]	The consolidated total assets as of March 31, 2016 and December 31, 2015 include certain assets held by consolidated VIEs of $118.8 million and $119.9 million, respectively, which are not available to be used to settle the obligations of Nexstar. The consolidated total liabilities as of March 31, 2016 and December 31, 2015 include certain liabilities of consolidated VIEs of $39.7 million and $40.7 million, respectively, for which the creditors of the VIEs have no recourse to the general credit of Nexstar. See Note 2 for additional information

Condensed Consolidating Finan45

Condensed Consolidating Financial Information - Additional Information (Details) - Senior Subordinated Notes [Member]	Mar. 31, 2016	Dec. 31, 2015
6.875 % Due 2020 [Member]
Condensed Financial Statements Captions [Line Items]
Interest rate	6.875%	6.875%
6.125% Due 2022 [Member]
Condensed Financial Statements Captions [Line Items]
Interest rate	6.125%	6.125%

Condensed Consolidating Finan46

Condensed Consolidating Financial Information - Condensed Consolidated Balance Sheets (Details) - USD ($) $ in Thousands		Mar. 31, 2016	Dec. 31, 2015	Mar. 31, 2015	Dec. 31, 2014
Current assets:
Cash and cash equivalents		$ 12,821	$ 43,416	$ 44,584	$ 131,912
Accounts receivable, net		199,999	192,991
Other current assets		21,507	23,621
Total current assets		234,327	260,028
Property and equipment, net		287,655	266,583
Goodwill		459,924	451,662
FCC licenses		501,264	489,335
Other intangible assets, net		323,955	314,361
Other noncurrent assets		85,060	53,165
Total assets	[1]	1,892,185	1,835,134
Current liabilities:
Current portion of debt		24,265	22,139
Accounts payable		24,925	25,936
Other current liabilities		95,921	97,986
Total current liabilities		145,111	146,061
Debt		1,489,899	1,454,075
Other noncurrent liabilities		139,625	148,625
Total liabilities	[1]	1,774,635	1,748,761
Total Nexstar Broadcasting Group, Inc. stockholders' equity (deficit)		111,404	80,674
Noncontrolling interests in consolidated variable interest entities		6,146	5,699
Total liabilities and stockholders' equity		1,892,185	1,835,134
Eliminations [Member]
Current assets:
Amounts due from consolidated entities		(76,328)	(62,578)
Total current assets		(76,328)	(62,578)
Investments in subsidiaries		(240,307)	(223,263)
Amounts due from consolidated entities		(124,657)	(133,659)
Total assets		(441,292)	(419,500)
Current liabilities:
Amounts due to consolidated entities		(76,328)	(62,578)
Total current liabilities		(76,328)	(62,578)
Amounts due to consolidated entities		(124,657)	(133,659)
Total liabilities		(200,985)	(196,237)
Total Nexstar Broadcasting Group, Inc. stockholders' equity (deficit)		(240,307)	(223,263)
Total liabilities and stockholders' equity		(441,292)	(419,500)
Nexstar [Member] | Reportable Legal Entities [Member]
Current assets:
Investments in subsidiaries		202,048	184,332
Total assets		202,048	184,332
Current liabilities:
Amounts due to consolidated entities		54,307	63,309
Total liabilities		54,307	63,309
Total Nexstar Broadcasting Group, Inc. stockholders' equity (deficit)		147,741	121,023
Total liabilities and stockholders' equity		202,048	184,332
Nexstar Broadcasting [Member] | Reportable Legal Entities [Member]
Current assets:
Cash and cash equivalents		3,897	27,492	37,202	130,472
Accounts receivable, net		168,740	163,008
Amounts due from consolidated entities		16,272	10,600
Other current assets		18,255	19,984
Total current assets		207,164	221,084
Investments in subsidiaries		38,259	38,931
Amounts due from consolidated entities		124,657	133,659
Property and equipment, net		253,914	232,206
Goodwill		351,709	343,140
FCC licenses		427,703	415,024
Other intangible assets, net		243,308	228,936
Other noncurrent assets		64,132	30,539
Total assets		1,710,846	1,643,519
Current liabilities:
Current portion of debt		16,830	15,154
Accounts payable		18,520	14,705
Amounts due to consolidated entities		55,005	47,700
Other current liabilities		78,439	78,868
Total current liabilities		168,794	156,427
Debt		1,215,679	1,177,944
Other noncurrent liabilities		115,990	118,048
Total liabilities		1,500,463	1,452,419
Total Nexstar Broadcasting Group, Inc. stockholders' equity (deficit)		210,383	191,100
Total liabilities and stockholders' equity		1,710,846	1,643,519
Mission [Member] | Reportable Legal Entities [Member]
Current assets:
Cash and cash equivalents		1,330	4,361	3,137	880
Accounts receivable, net		11,985	9,370
Amounts due from consolidated entities		60,056	51,978
Other current assets		1,120	1,364
Total current assets		74,491	67,073
Property and equipment, net		21,344	21,891
Goodwill		32,489	32,489
FCC licenses		41,563	41,563
Other intangible assets, net		18,287	18,892
Other noncurrent assets		19,339	20,418
Total assets		207,513	202,326
Current liabilities:
Current portion of debt		2,335	2,335
Accounts payable		1,651	906
Other current liabilities		6,717	6,909
Total current liabilities		10,703	10,150
Debt		222,781	223,235
Other noncurrent liabilities		10,397	9,351
Total liabilities		243,881	242,736
Total Nexstar Broadcasting Group, Inc. stockholders' equity (deficit)		(36,368)	(40,410)
Total liabilities and stockholders' equity		207,513	202,326
Non-Guarantors [Member] | Reportable Legal Entities [Member]
Current assets:
Cash and cash equivalents		7,594	11,563	$ 4,245	$ 560
Accounts receivable, net		19,274	20,613
Other current assets		2,132	2,273
Total current assets		29,000	34,449
Property and equipment, net		12,397	12,486
Goodwill		75,726	76,033
FCC licenses		31,998	32,748
Other intangible assets, net		62,360	66,533
Other noncurrent assets		1,589	2,208
Total assets		213,070	224,457
Current liabilities:
Current portion of debt		5,100	4,650
Accounts payable		4,754	10,325
Amounts due to consolidated entities		21,323	14,878
Other current liabilities		10,765	12,209
Total current liabilities		41,942	42,062
Debt		51,439	52,896
Amounts due to consolidated entities		70,350	70,350
Other noncurrent liabilities		13,238	21,226
Total liabilities		176,969	186,534
Total Nexstar Broadcasting Group, Inc. stockholders' equity (deficit)		29,955	32,224
Noncontrolling interests in consolidated variable interest entities		6,146	5,699
Total liabilities and stockholders' equity		$ 213,070	$ 224,457
[1]	The consolidated total assets as of March 31, 2016 and December 31, 2015 include certain assets held by consolidated VIEs of $118.8 million and $119.9 million, respectively, which are not available to be used to settle the obligations of Nexstar. The consolidated total liabilities as of March 31, 2016 and December 31, 2015 include certain liabilities of consolidated VIEs of $39.7 million and $40.7 million, respectively, for which the creditors of the VIEs have no recourse to the general credit of Nexstar. See Note 2 for additional information

Condensed Consolidating Finan47

Condensed Consolidating Financial Information - Condensed Consolidated Statements of Operations (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS [Abstract]
Net broadcast revenue (including trade and barter)	$ 255,658	$ 201,735
Net revenue	255,658	201,735
Operating expenses:
Direct operating expenses, excluding depreciation and amortization	90,123	68,029
Selling, general, and administrative expenses, excluding depreciation and amortization	68,165	57,289
Amortization of broadcast rights	14,804	14,581
Amortization of intangible assets	12,079	13,060
Depreciation	12,558	10,872
Total operating expenses	197,729	163,831
Income from operations	57,929	37,904
Interest expense, net	(20,654)	(19,293)
Other expenses	(136)	(118)
Income before income taxes	37,139	18,493
Income tax (expense) benefit	(14,865)	(6,581)
Net income (loss)	22,274	11,912
Net (income) loss attributable to noncontrolling interests	(547)	995
Net income attributable to Nexstar Broadcasting Group, Inc.	21,727	12,907
Eliminations [Member]
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS [Abstract]
Revenue between consolidated entities	(20,505)	(17,804)
Net revenue	(20,505)	(17,804)
Operating expenses:
Direct operating expenses, excluding depreciation and amortization	(10)
Selling, general, and administrative expenses, excluding depreciation and amortization	(1,118)	(855)
Local service agreement fees between consolidated entities	(19,377)	(16,949)
Total operating expenses	(20,505)	(17,804)
Equity in income of subsidiaries	(17,715)	(8,868)
Income before income taxes	(17,715)	(8,868)
Net income (loss)	(17,715)	(8,868)
Net income attributable to Nexstar Broadcasting Group, Inc.	(17,715)	(8,868)
Nexstar [Member] | Reportable Legal Entities [Member]
Operating expenses:
Equity in income of subsidiaries	17,715	8,868
Income before income taxes	17,715	8,868
Net income (loss)	17,715	8,868
Net income attributable to Nexstar Broadcasting Group, Inc.	17,715	8,868
Nexstar Broadcasting [Member] | Reportable Legal Entities [Member]
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS [Abstract]
Net broadcast revenue (including trade and barter)	215,576	170,500
Revenue between consolidated entities	8,605	6,469
Net revenue	224,181	176,969
Operating expenses:
Direct operating expenses, excluding depreciation and amortization	68,536	53,531
Selling, general, and administrative expenses, excluding depreciation and amortization	63,578	52,835
Local service agreement fees between consolidated entities	10,772	10,480
Amortization of broadcast rights	12,393	11,662
Amortization of intangible assets	7,308	8,556
Depreciation	11,184	9,579
Total operating expenses	173,771	146,643
Income from operations	50,410	30,326
Interest expense, net	(17,940)	(16,580)
Other expenses	(136)	(118)
Income before income taxes	32,334	13,628
Income tax (expense) benefit	(13,051)	(4,553)
Net income (loss)	19,283	9,075
Net income attributable to Nexstar Broadcasting Group, Inc.	19,283	9,075
Mission [Member] | Reportable Legal Entities [Member]
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS [Abstract]
Net broadcast revenue (including trade and barter)	15,160	12,110
Revenue between consolidated entities	9,201	8,554
Net revenue	24,361	20,664
Operating expenses:
Direct operating expenses, excluding depreciation and amortization	7,487	5,188
Selling, general, and administrative expenses, excluding depreciation and amortization	907	862
Local service agreement fees between consolidated entities	4,500	2,445
Amortization of broadcast rights	1,392	1,468
Amortization of intangible assets	605	610
Depreciation	607	602
Total operating expenses	15,498	11,175
Income from operations	8,863	9,489
Interest expense, net	(2,313)	(2,316)
Income before income taxes	6,550	7,173
Income tax (expense) benefit	(2,508)	(2,821)
Net income (loss)	4,042	4,352
Net income attributable to Nexstar Broadcasting Group, Inc.	4,042	4,352
Non-Guarantors [Member] | Reportable Legal Entities [Member]
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS [Abstract]
Net broadcast revenue (including trade and barter)	24,922	19,125
Revenue between consolidated entities	2,699	2,781
Net revenue	27,621	21,906
Operating expenses:
Direct operating expenses, excluding depreciation and amortization	14,110	9,310
Selling, general, and administrative expenses, excluding depreciation and amortization	4,798	4,447
Local service agreement fees between consolidated entities	4,105	4,024
Amortization of broadcast rights	1,019	1,451
Amortization of intangible assets	4,166	3,894
Depreciation	767	691
Total operating expenses	28,965	23,817
Income from operations	(1,344)	(1,911)
Interest expense, net	(401)	(397)
Income before income taxes	(1,745)	(2,308)
Income tax (expense) benefit	694	793
Net income (loss)	(1,051)	(1,515)
Net (income) loss attributable to noncontrolling interests	(547)	995
Net income attributable to Nexstar Broadcasting Group, Inc.	$ (1,598)	$ (520)

Condensed Consolidating Finan48

Condensed Consolidating Financial Information - Condensed Consolidating Statement of Cash Flows (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS [Abstract]
Cash flows from operating activities	$ 38,431	$ 49,626
Cash flows from investing activities:
Purchases of property and equipment	(7,741)	(6,401)
Deposits and payments for acquisitions	(103,971)	(459,979)
Proceeds from sale of a station		26,805
Other investing activities	160	877
Net cash used in investing activities	(111,552)	(438,698)
Cash flows from financing activities:
Proceeds from long-term debt	58,000	411,950
Repayments of long-term debt	(20,897)	(104,140)
Common stock dividends paid	(7,355)	(5,921)
Excess tax benefit from stock option exercises	13,224	1,686
Other financing activities	(446)	(145)
Net cash provided by financing activities	42,526	301,744
Net decrease in cash and cash equivalents	(30,595)	(87,328)
Cash and cash equivalents at beginning of period	43,416	131,912
Cash and cash equivalents at end of period	12,821	44,584
Eliminations [Member]
Cash flows from investing activities:
Purchases of property and equipment		176
Deposits and payments for acquisitions		43,300
Proceeds from sale of a station		(43,300)
Other investing activities		(176)
Nexstar [Member] | Reportable Legal Entities [Member]
Cash flows from financing activities:
Common stock dividends paid	(7,355)	(5,921)
Inter-company payments	7,355	4,456
Other financing activities		1,465
Nexstar Broadcasting [Member] | Reportable Legal Entities [Member]
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS [Abstract]
Cash flows from operating activities	43,093	38,613
Cash flows from investing activities:
Purchases of property and equipment	(7,038)	(5,974)
Deposits and payments for acquisitions	(103,971)	(503,200)
Proceeds from sale of a station		70,105
Other investing activities	160	723
Net cash used in investing activities	(110,849)	(438,346)
Cash flows from financing activities:
Proceeds from long-term debt	58,000	409,950
Repayments of long-term debt	(19,262)	(97,431)
Inter-company payments	(7,355)	(4,456)
Excess tax benefit from stock option exercises	13,224
Other financing activities	(446)	(1,600)
Net cash provided by financing activities	44,161	306,463
Net decrease in cash and cash equivalents	(23,595)	(93,270)
Cash and cash equivalents at beginning of period	27,492	130,472
Cash and cash equivalents at end of period	3,897	37,202
Mission [Member] | Reportable Legal Entities [Member]
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS [Abstract]
Cash flows from operating activities	(2,389)	8,106
Cash flows from investing activities:
Purchases of property and equipment	(57)	(32)
Other investing activities		150
Net cash used in investing activities	(57)	118
Cash flows from financing activities:
Repayments of long-term debt	(585)	(5,959)
Other financing activities		(8)
Net cash provided by financing activities	(585)	(5,967)
Net decrease in cash and cash equivalents	(3,031)	2,257
Cash and cash equivalents at beginning of period	4,361	880
Cash and cash equivalents at end of period	1,330	3,137
Non-Guarantors [Member] | Reportable Legal Entities [Member]
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS [Abstract]
Cash flows from operating activities	(2,273)	2,907
Cash flows from investing activities:
Purchases of property and equipment	(646)	(571)
Deposits and payments for acquisitions		(79)
Other investing activities		180
Net cash used in investing activities	(646)	(470)
Cash flows from financing activities:
Proceeds from long-term debt		2,000
Repayments of long-term debt	(1,050)	(750)
Other financing activities		(2)
Net cash provided by financing activities	(1,050)	1,248
Net decrease in cash and cash equivalents	(3,969)	3,685
Cash and cash equivalents at beginning of period	11,563	560
Cash and cash equivalents at end of period	$ 7,594	$ 4,245

Subsequent Events - Additional

Subsequent Events - Additional Information (Details) - USD ($) $ / shares in Units, $ in Millions	May. 04, 2016	Apr. 21, 2016	Mar. 31, 2016	Mar. 31, 2015
Subsequent Event [Line Items]
Dividends declared per common share			$ 0.24	$ 0.19
Class A Common Stock [Member] | Subsequent Event [Member]
Subsequent Event [Line Items]
Dividends declared per common share		$ 0.24
Dividends, date declared		Apr. 21, 2016
Dividends, date payable		May 27, 2016
Dividends, date of record		May 13, 2016
Nexstar [Member] | Revolving loans [Member]
Subsequent Event [Line Items]
Repayment of debt			$ 16
Nexstar [Member] | Revolving loans [Member] | Subsequent Event [Member]
Subsequent Event [Line Items]
Repayment of debt	$ 14