Nexstar Media (NXST) 10-Q 9 Nov 16 2016 Q3 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	9 Months Ended
	Sep. 30, 2016	Nov. 07, 2016
Document And Entity Information [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Sep. 30, 2016
Document Fiscal Year Focus	2,016
Document Fiscal Period Focus	Q3
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		30,704,854

CONDENSED CONSOLIDATED BALANCE

CONDENSED CONSOLIDATED BALANCE SHEETS (unaudited) - USD ($) $ in Thousands		Sep. 30, 2016	Dec. 31, 2015
Current assets:
Cash and cash equivalents		$ 29,256	$ 43,416
Accounts receivable, net of allowance for doubtful accounts of $6,128 and $5,369, respectively		214,404	192,991
Broadcast rights		15,495	16,297
Prepaid expenses and other current assets		27,866	7,324
Total current assets		287,021	260,028
Property and equipment, net		283,600	266,583
Goodwill		488,432	451,662
FCC licenses		542,524	489,335
Other intangible assets, net		336,406	314,361
Restricted cash		900,402
Other noncurrent assets, net		82,311	53,165
Total assets	[1]	2,920,696	1,835,134
Current liabilities:
Current portion of debt		28,093	22,139
Current portion of broadcast rights payable		16,750	17,510
Accounts payable		25,388	25,936
Accrued expenses		70,364	60,559
Interest payable		24,751	10,939
Other current liabilities		15,804	8,978
Total current liabilities		181,150	146,061
Debt		2,320,077	1,454,075
Deferred tax liabilities		111,079	101,764
Other noncurrent liabilities		40,789	46,861
Total liabilities	[1]	2,653,095	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 September 30, 2016 and December 31, 2015
Additional paid-in capital		392,836	396,224
Accumulated deficit		(197,065)	(268,120)
Treasury stock - at cost; 916,515 and 993,565 shares at September 30, 2016 and December 31, 2015, respectively		(43,619)	(47,746)
Total Nexstar Broadcasting Group, Inc. stockholders' equity		152,468	80,674
Noncontrolling interests in consolidated variable interest entities		115,133	5,699
Total stockholders' equity		267,601	86,373
Total liabilities and stockholders' equity		2,920,696	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 September 30, 2016 and December 31, 2015 include certain assets held by consolidated VIEs of $227.1 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 September 30, 2016 and December 31, 2015 include certain liabilities of consolidated VIEs of $38.0 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	Sep. 30, 2016	Dec. 31, 2015
Current assets:
Accounts receivable, allowance for doubtful accounts	$ 6,128	$ 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	916,515	993,565
Consolidated VIEs [Member]
ASSETS
Consolidated VIEs, Assets	$ 227,132	$ 119,909
LIABILITIES AND STOCKHOLDERS' EQUITY
Consolidated VIEs, Liabilities	$ 38,045	$ 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	30,704,854	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		9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015
Revenues [Abstract]
Net revenue	$ 275,659	$ 223,031	$ 793,311	$ 644,115
Operating expenses:
Direct operating expenses, excluding depreciation and amortization	100,744	78,551	283,802	219,618
Selling, general, and administrative expenses, excluding depreciation and amortization	63,602	56,426	197,539	170,272
Amortization of broadcast rights	14,034	15,312	44,060	44,566
Amortization of intangible assets	11,505	11,351	34,903	35,648
Depreciation	12,877	13,076	38,174	35,250
Total operating expenses	202,762	174,716	598,478	505,354
Income from operations	72,897	48,315	194,833	138,761
Interest expense, net	(29,622)	(20,396)	(70,853)	(60,080)
Other expenses	(126)	(115)	(409)	(383)
Income before income taxes	43,149	27,804	123,571	78,298
Income tax expense	(17,533)	(10,649)	(50,882)	(29,331)
Net income (loss)	25,616	17,155	72,689	48,967
Net (income) loss attributable to noncontrolling interests	(817)	127	(1,634)	1,543
Net income attributable to Nexstar Broadcasting Group, Inc.	$ 24,799	$ 17,282	$ 71,055	$ 50,510
Net income per common share attributable to Nexstar Broadcasting Group, Inc.:
Basic	$ 0.81	$ 0.55	$ 2.32	$ 1.62
Diluted	$ 0.78	$ 0.54	$ 2.25	$ 1.57
Weighted average number of common shares outstanding:
Basic	30,695	31,262	30,678	31,261
Diluted	31,698	32,151	31,619	32,263
Dividends declared per common share	$ 0.24	$ 0.19	$ 0.72	$ 0.57

CONDENSED CONSOLIDATED STATEME5

CONDENSED CONSOLIDATED STATEMENT OF CHANGES IN STOCKHOLDERS' EQUITY (unaudited) - 9 months ended Sep. 30, 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	$ 9,002				9,002
Vesting of restricted stock units and exercise of stock options	387				(3,740)		$ 4,127
Vesting of restricted stock units and exercise of stock options, shares							77,050
Excess tax benefit from stock option exercises	13,428				13,428
Common stock dividends declared	(22,078)				(22,078)
Consolidation of variable interest entities	108,543							108,543
Purchase of noncontrolling interests	(100)							(100)
Distribution to a noncontrolling interest	(643)							(643)
Net income	72,689					71,055		1,634
Balance at Sep. 30, 2016	$ 267,601	$ 316			$ 392,836	$ (197,065)	$ (43,619)	$ 115,133
Balance, Shares at Sep. 30, 2016		31,621,369	0	0
Balance, Shares at Sep. 30, 2016	(916,515)						(916,515)

CONDENSED CONSOLIDATED STATEME6

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (unaudited) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015
Cash flows from operating activities:
Net income	$ 72,689	$ 48,967
Adjustments to reconcile net income to net cash provided by operating activities:
Provision for bad debt	2,250	1,764
Amortization of broadcast rights, excluding barter	17,075	16,297
Depreciation of property and equipment	38,174	35,250
Amortization of intangible assets	34,903	35,648
(Gain) loss on asset disposal, net	(518)	922
Amortization of debt financing costs and debt discounts	3,394	2,756
Stock-based compensation expense	9,002	8,515
Deferred income taxes	30,150	26,513
Payments for broadcast rights	(17,242)	(16,280)
Deferred gain recognition	(327)	(327)
Amortization of deferred representation fee incentive	(880)	(836)
Non-cash representation contract termination fee		1,516
Excess tax benefit from stock option exercises	(13,428)	(7,914)
Change in the fair value of contingent consideration	3,483
Changes in operating assets and liabilities, net of acquisitions and dispositions:
Accounts receivable	(22,845)	(11,633)
Prepaid expenses and other current assets	(20,387)	(2,002)
Other noncurrent assets	(132)	361
Accounts payable, accrued expenses and other current liabilities	14,737	10,600
Taxes payable	(48)	(20,699)
Interest payable	13,812	11,165
Other noncurrent liabilities	(868)	72
Net cash provided by operating activities	162,994	140,655
Cash flows from investing activities:
Purchases of property and equipment	(25,642)	(21,282)
Deposits and payments for acquisitions, net of cash acquired	(103,970)	(461,678)
Proceeds from sale of a station		26,805
Proceeds from disposals of property and equipment	585	2,206
Net cash used in investing activities	(129,027)	(453,949)
Cash flows from financing activities:
Proceeds from long-term debt	58,000	416,950
Repayments of long-term debt	(73,115)	(151,518)
Payments for debt financing costs	(19,282)	(3,225)
Purchase of treasury stock		(48,660)
Proceeds from exercise of stock options	387	3,327
Excess tax benefit from stock option exercises	13,428	7,914
Common stock dividends paid	(22,078)	(17,870)
Purchase of noncontrolling interests	(100)
Contribution from a noncontrolling interest		100
Distribution to a noncontrolling interest	(643)
Payments for capital lease obligations	(2,724)	(2,280)
Payments for contingent consideration in connection with an acquisition	(2,000)
Net cash (used in) provided by financing activities	(48,127)	204,738
Net decrease in cash and cash equivalents	(14,160)	(108,556)
Cash and cash equivalents at beginning of period	43,416	131,912
Cash and cash equivalents at end of period	29,256	23,356
Supplemental information:
Interest paid	68,111	46,159
Income taxes paid, net of refunds	27,405	23,437
Non-cash investing and financing activities:
Accrued purchases of property and equipment	653	1,661
Noncash purchases of property and equipment	737	$ 3,863
Proceeds from the issuance of debt directly deposited into escrow	900,402
Consolidation of variable interest entities	108,543
Accrued debt financing costs	$ 798

Organization and Business Opera

Organization and Business Operations	9 Months Ended
	Sep. 30, 2016
Organization Consolidation And Presentation Of Financial Statements [Abstract]
Organization and Business Operations	1. Organization and Business Operations As of September 30, 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	9 Months Ended
	Sep. 30, 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): September 30, December 31, 2016 2015 Current assets $ 4,342 $ 2,910 Property and equipment, net 7,075 4,004 Goodwill 46,314 18,182 FCC licenses 114,791 74,312 Other intangible assets, net 54,187 20,112 Other noncurrent assets, net 423 389 Total assets 227,132 119,909 Current liabilities 12,436 14,288 Noncurrent liabilities 25,609 26,427 Total liabilities $ 38,045 $ 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 September 30, 2016 and for the three and nine months ended September 30, 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 and White Knight station, subject to Federal Communications Commission (“FCC”) consent. In connection with Nexstar’s acquisition of four full power television stations from WVMH, Nexstar began providing programming and sales services to these stations through a TBA with WVMH effective December 1, 2015. Pursuant to the terms of the agreement, 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 acquisition which is expected to occur at the end of 2016. Nexstar has determined that it has variable interests in the WVMH stations. However, if the acquisition is not consummated for reasons beyond the control of Nexstar and WVMH, the TBA will terminate no later than June 30, 2017. Thus, Nexstar previously determined that it was not the primary beneficiary of its variable interests on these stations. On August 2, 2016, Nexstar received approval from the FCC to acquire the stations’ remaining assets. Due to this development, the acquisition becomes probable of occurring and Nexstar now holds the ultimate power to direct the activities that most significantly impact the stations’ economic performance including developing the annual operating budget, advertising sales and oversight and control of sales force personnel. Therefore, Nexstar became the primary beneficiary of its variable interests and consolidated these stations as of August 2, 2016. See Note 3 for additional information. The following table summarizes the various local service agreements Nexstar had in effect as of September 30, 2016 with Mission, Marshall, Parker, White Knight and WVMH: Service Agreements Owner Full Power Stations TBA Only Mission WFXP and KHMT Parker KFQX WVMH WOWK, WTRF, WVNS and WBOY 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, White Knight and the WVMH stations 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, White Knight and WVMH 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): September 30, December 31, 2016 2015 Current assets: Cash and cash equivalents $ 7,030 $ 6,137 Accounts receivable, net 20,108 16,400 Prepaid expenses and other current assets 3,822 3,460 Total current assets 30,960 25,997 Property and equipment, net 30,919 29,681 Goodwill 97,955 69,825 FCC licenses 114,791 74,312 Other intangible assets, net 89,114 58,053 Other noncurrent assets, net 16,097 22,572 Total assets $ 379,836 $ 280,440 Current liabilities: Current portion of debt $ 8,334 $ 6,985 Interest payable 27 28 Other current liabilities 12,436 14,288 Total current liabilities 20,797 21,301 Debt 270,406 276,131 Other noncurrent liabilities 25,609 26,427 Total liabilities $ 316,812 $ 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. Nexstar has determined that it has a variable interest in WYZZ. Nexstar has evaluated its arrangements with Cunningham and has determined that it is not the primary beneficiary of the variable interest in this station because it does not have the ultimate power to direct the activities that most significantly impact the station’s 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 this station under authoritative guidance related to the consolidation of VIEs. Under the local service agreement for WYZZ, 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 agreement consists of the fees paid to Cunningham. Additionally, Nexstar indemnifies the owners of WYZZ from and against all liability and claims arising out of or resulting from its activities, acts or omissions in connection with the agreement. The maximum potential amount of future payments Nexstar could be required to make for such indemnification is undeterminable at this time. As discussed above, Nexstar previously determined that it was not the primary beneficiary of its variable interests in the stations currently owned by WVMH. On August 2, 2016, Nexstar became the primary beneficiary of its variable interests and consolidated these stations as of that date. As of September 30, 2016 and December 31, 2015, Nexstar had balances in accounts payable of $0.2 million and $0.8 million, respectively, for fees under these arrangements and had receivables for advertising aired on these stations of $0.6 million and $1.0 million, respectively. Fees incurred under these arrangements of $0.2 million and $0.1 million for the three months ended September 30, 2016 and 2015, respectively, and $4.0 million and $0.5 million during each of the nine months then ended, were included in direct operating expenses in the Condensed Consolidated Statements of Operations. 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. On July 27, 2016, Nexstar Escrow Corporation (“Nexstar Escrow”), a wholly-owned subsidiary of Nexstar, completed the sale and issuance of $900.0 million of 5.625% Senior Unsecured Notes due 2024 at par (the “5.625% Notes”). The gross proceeds from these notes, plus Nexstar’s pre-funding of $14.1 million interest, have been deposited into a segregated escrow account and invested into money market funds and government obligations which are valued using quoted prices in active markets for identical assets (Level 1). These funds are restricted until certain conditions are satisfied, including the consummation of Nexstar’s proposed merger with Media General, Inc. (“Media General”) (See Notes 3 and 6). As of September 30, 2016, the pre-funded interest is included in prepaid expenses and other current assets and the gross proceeds from the notes plus the investment income earned are presented as non-current restricted cash in the accompanying Condensed Consolidated Balance Sheet. 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 Nine Months Ended September 30, September 30, 2016 2015 2016 2015 Weighted average shares outstanding - basic 30,695 31,262 30,678 31,261 Dilutive effect of equity incentive plan instruments 1,003 889 941 1,002 Weighted average shares outstanding - diluted 31,698 32,151 31,619 32,263 Stock options and restricted stock units to acquire a weighted average of 224,000 shares and 879,000 shares for the three months ended September 30, 2016 and 2015, respectively, and 468,000 shares and 932,000 shares during each of the respective nine months then ended of Class A common stock were excluded from the computation of diluted earnings per share, because their impact would have been anti-dilutive. 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 nine months ended September 30, 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. 2016-09, Compensation - Stock Compensation (Topic 718): Improvements to Employee Share-Based Payment Accounting In March 2016, the FASB issued ASU No. 2016-08, Revenue from Contracts with Customers (Topic 606): Principal versus Agent Considerations Revenue from Contracts with Customers (Topic 606): Identifying Performance Obligations and Licensing Revenue from Contracts with Customers: Narrow-Scope Improvements and Practical Expedients In August 2016, the FASB issued ASU No. 2016-15, Statement of Cash Flows (Topic 230) Classification of Certain Cash Receipts and Cash Payments (a consensus of the Emerging Issues Task Force)

Acquisitions and Dispositions

Acquisitions and Dispositions	9 Months Ended
	Sep. 30, 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 a TBA effective December 1, 2015 which will terminate upon completion of the acquisition. 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 3,402 Goodwill 35 Total assets acquired at first closing 22,351 Less: Accounts payable and accrued expenses (623 ) Less: Other noncurrent liabilities (307 ) Net assets acquired at first closing 21,421 Deposit on second closing 43,543 Total paid at first closing $ 64,964 Other intangible assets are amortized over an estimated weighted average useful life of three years. The arrangement with WVMH allows Nexstar to return the assets acquired in the first closing 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, 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. As discussed in Note 2, Nexstar became the primary beneficiary of its variable interests in WVMH’s stations upon receiving FCC approval on August 2, 2016 to acquire the stations’ remaining assets. Therefore, Nexstar has consolidated these assets under authoritative guidance related to the consolidation of VIEs as of this date. Subject to final determination, which is expected to occur within twelve months of the acquisition date, the provisional fair values of the remaining assets consolidated are as follows (in thousands): Broadcast rights $ 527 Property and equipment 3,489 FCC licenses 41,230 Network affiliation agreements 35,387 Goodwill 28,437 Consolidated assets of VIEs 109,070 Less: Broadcast rights payable (527 ) Consolidated net asset of VIEs $ 108,543 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. The consolidation of the remaining assets of the WVMH stations resulted in non-controlling interests of $108.5 million, representing the estimated fair value attributable to the owners. 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 expected to occur at the end of 2016. Transaction costs relating to this acquisition, including legal and professional fees of $0.1 million, were expensed as incurred during the nine months ended September 30, 2016. The stations’ net revenue of $9.0 million and operating income of $1.5 million from August 2, 2016 to September 30, 2016 have been included in the accompanying Condensed Consolidated Statements of Operations. 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, 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 at acquisition, are KXMA, KXMB, KXMC and KXMD in the Minot-Bismarck-Dickinson, North Dakota market. KXMA, KXMB 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 nine months ended September 30, 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 8,139 FCC licenses 9,779 Network affiliation agreements 16,084 Other intangible assets 2,073 Goodwill 7,931 Total assets acquired 44,019 Less: Broadcast rights payable (13 ) Less: Accounts payable and accrued expenses (8 ) Net assets acquired $ 43,998 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 break-even from operations during the three months ended September 30, 2016 and net revenue of $8.1 million and operating income of $0.7 million from the date of acquisition to September 30, 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 $3.9 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 nine months ended September 30, 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 $ 380 Broadcast rights 1,740 Prepaid expenses and other current assets 40 Property and equipment 1,076 FCC licenses 2,180 Other intangible assets 2 Goodwill 367 Total assets acquired 5,785 Less: Broadcast rights payable (1,886 ) Less: Accrued expenses (17 ) Net assets acquired $ 3,882 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’s net revenue of $1.2 million and operating income of $1.1 million during the three months ended September 30, 2016 and net revenue of $2.0 million and operating income of $1.8 million from the date of acquisition to September 30, 2016 have been included in the accompanying Condensed Consolidated Statements of Operations. Kixer In October 2015, Lakana LLC, a wholly-owned subsidiary of Nexstar, acquired Kixer, Inc. (“Kixer”) from Centrility, LLC, Keith Bonnici and Know Media, LLC. In addition to the base purchase price that Nexstar paid in October 2015, the sellers could also receive up to $7.0 million in cash payments if certain revenue targets are met during the year 2016 (the “Earnout Payments”). In September 2016, payments totaling $2.0 million were made to the sellers under this arrangement. The estimated fair value of remaining obligations under the Earnout Payments was $4.4 million as of September 30, 2016 and $3.0 million as of December 31, 2015, included in accrued expenses in the Condensed Consolidated Balance Sheets. The increases in the accrual is attributable to periodic re-measurement of the estimated fair value which have been included in selling, general and administrative expense, excluding depreciation and amortization in the accompanying Condensed Consolidated Statements of Operations. Unaudited Pro Forma Information The acquisitions of four full power television stations from Reiten, four full power television stations from WVMH, KCWI from Pappas and Kixer from Centrility, LLC, Keith Bonnici and Know Media, LLC 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, 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 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 $2.3 billion in cash and stock, estimated based on Nexstar’s Class A common stock market price per share of $57.71 on September 30, 2016 and Media General’s diluted common shares outstanding, plus the potential CVR. It is estimated that the existing Nexstar shareholders will own approximately 66% and Media General shareholders will own approximately 34% of the combined company’s outstanding shares after closing. The transaction costs relating to this proposed acquisition, including legal and professional fees of $0.9 million and $7.1 million, were expensed as incurred during the three and nine months ended September 30, 2016, respectively. 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. 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. 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. Nexstar received committed financing up to a maximum of $4.7 billion from a group of commercial banks to provide the debt financing in the form of credit facilities and notes to consummate the merger and to refinance certain existing indebtedness of the Company and Media General. The debt refinancing will include the outstanding obligations under the Company’s term loans and revolving credit facilities. On July 27, 2016, Nexstar Escrow completed the sale and issuance of $900.0 million of 5.625% Notes at par. The proceeds, which were deposited into a segregated escrow account, are expected to be used to partially finance the merger and to refinance certain existing indebtedness of Nexstar and Media General at closing. See Note 6 for additional information with respect to these notes. On June 8, 2016, the merger was approved by the shareholders of both companies. The merger is subject to FCC regulatory approval and other customary closing conditions. In order to comply with the FCC’s local television ownership rule, to meet the U.S. television household national ownership cap and to obtain FCC and Department of Justice approval of the proposed merger, Nexstar entered into various definitive agreements in May and June 2016 to sell: (i) the assets of two television stations in two markets to Graham Media Group, Inc. for a total consideration of $120.0 million, plus working capital adjustments, (ii) the assets of two stations in one market to Bayou City Broadcasting Lafayette, Inc. for $40.0 million in cash, plus working capital adjustments, (iii) the assets of one station to Marquee Broadcasting, Inc. for $350 thousand in cash, (iv) the assets of two television stations in two markets to Gray Television Group, Inc. for $270.0 million in cash, plus working capital adjustments, (v) the assets of five stations in five markets to USA Television MidAmerican Holdings, LLC (an affiliate of MSouth Equity Partners and Heartland Media, LLC) for $115.0 million in cash, plus working capital adjustments, and (vi) certain assets of one station to Ramar Communications, Inc. for $2.5 million in cash, plus working capital adjustments. Six of the proposed station divestitures are currently owned by Nexstar and seven are currently owned by Media General. The proceeds are expected to be used to partially finance the merger and the refinancing of certain existing indebtedness of the Company and Media General at closing. Upon completion of the merger, the required divestitures and the debt refinancing, which are all 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	9 Months Ended
	Sep. 30, 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 September 30, 2016 December 31, 2015 useful life, Accumulated Accumulated in years Gross Amortization Net Gross Amortization Net Network affiliation agreements 15 $ 659,054 $ (350,693 ) $ 308,361 $ 614,592 $ (338,016 ) $ 276,576 Other definite-lived intangible assets 1-15 90,398 (62,353 ) 28,045 84,921 (47,136 ) 37,785 Other intangible assets $ 749,452 $ (413,046 ) $ 336,406 $ 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 September 30, 2016 (in thousands): Remainder of 2016 $ 11,599 2017 41,614 2018 30,865 2019 28,224 2020 24,910 2021 24,697 Thereafter 174,497 $ 336,406 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 and consolidations of VIEs (See Note 3) 36,770 - 36,770 53,189 - 53,189 Balances as of September 30, 2016 $ 534,423 $ (45,991 ) $ 488,432 $ 591,945 $ (49,421 ) $ 542,524 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 nine months ended September 30, 2016, the Company did not identify any events that would trigger impairment assessment.

Accrued Expenses

Accrued Expenses	9 Months Ended
	Sep. 30, 2016
Payables And Accruals [Abstract]
Accrued Expenses	5. Accrued Expenses Accrued expenses consisted of the following (in thousands): September 30, December 31, 2016 2015 Compensation and related taxes $ 25,005 $ 15,810 Network affiliation fees 24,634 22,324 Other 20,725 22,425 $ 70,364 $ 60,559

Debt

Debt	9 Months Ended
	Sep. 30, 2016
Debt Disclosure [Abstract]
Debt	6. Debt Long-term debt consisted of the following (in thousands): September 30, December 31, 2016 2015 Term loans, net of financing costs and discount of $7,126 and $8,715, respectively $ 668,696 $ 682,223 Revolving loans 2,000 2,000 6.875% Senior unsecured notes due 2020, net of financing costs and discount of $4,533 and $5,223, respectively 520,467 519,777 6.125% Senior unsecured notes due 2022, net of financing costs of $2,500 and $2,786, respectively 272,500 272,214 5.625% Senior unsecured notes due 2024, net of financing costs of $15,493 884,507 - 2,348,170 1,476,214 Less: current portion (28,093 ) (22,139 ) $ 2,320,077 $ 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 September 2016, Nexstar fully repaid the $58.0 million outstanding principal balance under its revolving credit facility funded by cash on hand. Through September 2016, Nexstar, Mission and Marshall paid the contractual maturities under their senior secured credit facilities totaling $15.1 million. On July 27, 2016, Nexstar Escrow completed the issuance and sale of $900.0 million of 5.625% Notes at par. These notes will mature on August 1, 2024 and interest is payable semiannually in arrears on February 1 and August 1 of each year beginning on February 1, 2017. The gross proceeds of the 5.625% Notes, plus Nexstar’s pre-funding of $14.1 million interest, have been deposited into a segregated escrow account which cannot be utilized until certain conditions are satisfied. Among other things, such conditions include the consummation of the Nexstar and Media General merger and the assumption by Nexstar of all of the obligations of Nexstar Escrow under the 5.625% Notes, which are all expected to occur in the fourth quarter of 2016 (collectively, the “Escrow Release Conditions”). Following satisfaction of the Escrow Release Conditions, the proceeds from the 5.625% Notes will be used to partially finance the merger, to refinance certain existing indebtedness of Nexstar and Media General, to pay related fees and expenses and for general corporate purposes. If the merger is not consummated on or prior to April 27, 2017, or if the merger agreement is terminated, the 5.625% Notes are subject to a special mandatory redemption equal to the principal amount of the notes, plus accrued and unpaid interest, if any, from the issue date of the 5.625% Notes up to, but not including, the date of such special mandatory redemption. Prior to the consummation of the Nexstar and Media General merger, the 5.625% Notes will not be guaranteed, but will be secured by a first-priority security interest in the escrow account and all deposits and investment property therein. Following satisfaction of the Escrow Release Conditions, the 5.625% Notes will be senior unsecured obligations of Nexstar and will be guaranteed by Mission and certain of Nexstar’s and Mission’s future wholly-owned subsidiaries, subject to certain customary release provisions. The 5.625% Notes will be junior to the secured debt of the Company, including the Nexstar, Mission and Marshall senior secured credit facilities, to the extent of the value of the assets securing such debt. The 5.625% Notes will rank equal to Nexstar’s 6.875% senior unsecured notes due 2020 (the “6.875% Notes”) and 6.125% senior unsecured notes due 2022 (the “6.125% Notes”). Nexstar recorded $15.8 million in legal, professional and underwriting fees related to the issuance of the 5.625% Notes, which were capitalized as debt finance costs and are amortized over the term of the 5.625% Notes. Debt financing costs are netted against the carrying amount of the related debt. Unused Commitments and Borrowing Availability The Company had $103.0 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 September 30, 2016. 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 September 30, 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% Notes, 6.125% Notes and 5.625% Notes. Fair Value of Debt The aggregate carrying amounts and estimated fair values of the Company’s debt were as follows (in thousands): September 30, 2016 December 31, 2015 Carrying Fair Carrying Fair Amount Value Amount Value Term loans (1) $ 668,696 $ 674,070 $ 682,223 $ 678,045 Revolving loans (1) 2,000 1,984 2,000 1,961 6.875% Senior unsecured notes (2) 520,467 544,525 519,777 534,188 6.125% Senior unsecured notes (2) 272,500 284,625 272,214 269,500 5.625% Senior unsecured notes (2) 884,512 909,000 - - (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	9 Months Ended
	Sep. 30, 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 August 2016, the FCC adopted a Second Report and Order (the “2016 Ownership Order”) concluding the agency’s 2010 and 2014 quadrennial reviews. The 2016 Ownership Order (1) retains the existing local television ownership rule and radio/television cross-ownership rule (with minor technical modifications to address the transition to digital television broadcasting), (2) extends the current ban on common ownership of two top-four television stations in a market to network affiliation swaps, (3) retains the existing ban on newspaper/broadcast cross-ownership in local markets while considering waivers and providing an exception for failed or failing entities, (4) retains the existing dual network rule and (5) defines a category of sharing agreements designated as SSAs between stations and requires public disclosure of those SSAs (while not considering them attributable). In March 2014, the FCC 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 was deemed to have an attributable interest in the latter station for purposes of the local television ownership rule. Parties to newly attributable JSAs that did 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. In May 2016, the U.S. Court of Appeals for the Third Circuit issued a decision that vacated the JSA attribution rule and remanded it to the FCC. The court determined that the FCC had violated the Communications Act by adopting the JSA attribution rule without determining, through the quadrennial review process, that the underlying local television ownership rule remains in the public interest. In its 2016 Ownership Order, however, the FCC reimposed the JSA attribution rule while extending the compliance period for pre-March 2014 JSAs to September 30, 2025. If Nexstar is required to modify or terminate its JSAs or other local service agreements, it could lose some or all of the revenues generated from those arrangements due to the reduction in audience reach to its advertisers and receipt of less revenues from them. The FCC’s 2016 Ownership Order is subject to appeal. The FCC’s media ownership rules limit the percentage of U.S. television households which a party may reach through its attributable interests in television stations to 39% on a nationwide basis. Historically, the FCC has counted the ownership of an ultra-high frequency (“UHF”) station as reaching only 50% of a market’s percentage of total national audience. On August 24, the FCC adopted a Report and Order abolishing the UHF discount for the purposes of a licensee’s determination of compliance with the 39% national cap. This rule change became effective October 24, 2016. Nexstar is in compliance with the 39% national cap limitation and will remain in compliance upon completion of the merger with Media General. 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 for the incentive auction and the subsequent “repacking” of broadcast television 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 and is ongoing. 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 after the incentive auction concludes. The FCC has solicited comment on a proposed schedule for this transition. 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 impact of the incentive auction and subsequent repacking on 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 Mission and other independent third parties with which Nexstar has local service agreements to separately negotiate retransmission consent agreements. 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 and comments and reply comments have been submitted. In July 2016, the Chairman of the FCC publicly announced that the agency would not adopt additional rules in this proceeding. 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	9 Months Ended
	Sep. 30, 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 September 30, 2016, Mission had a maximum commitment of $232.2 million under its senior secured credit facility, of which $224.2 million of debt was outstanding, and Marshall had used all of its commitment and had outstanding debt obligations of $54.5 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	9 Months Ended
	Sep. 30, 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 September 30, 2016 Broadcasting Other Consolidated Net revenue $ 257,789 $ 17,870 $ 275,659 Depreciation 10,978 1,899 12,877 Amortization of intangible assets 8,175 3,330 11,505 Income (loss) from operations 89,511 (16,614 ) 72,897 Three Months Ended September 30, 2015 Broadcasting Other Consolidated Net revenue $ 212,504 $ 10,527 $ 223,031 Depreciation 11,305 1,771 13,076 Amortization of intangible assets 8,405 2,946 11,351 Income (loss) from operations 63,214 (14,899 ) 48,315 Nine Months Ended September 30, 2016 Broadcasting Other Consolidated Net revenue $ 745,281 $ 48,030 $ 793,311 Depreciation 33,137 5,037 38,174 Amortization of intangible assets 24,838 10,065 34,903 Income (loss) from operations 248,493 (53,660 ) 194,833 Nine Months Ended September 30, 2015 Broadcasting Other Consolidated Net revenue $ 610,769 $ 33,346 $ 644,115 Depreciation 30,855 4,395 35,250 Amortization of intangible assets 27,719 7,929 35,648 Income (loss) from operations 181,895 (43,134 ) 138,761 As of September 30, 2016 Broadcasting Other Consolidated Goodwill $ 449,735 $ 38,697 $ 488,432 Assets 1,815,566 1,105,130 2,920,696 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	9 Months Ended
	Sep. 30, 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 September 30, 2016 (in thousands) Nexstar Non- Consolidated Nexstar Broadcasting Mission Guarantors Eliminations Company ASSETS Current assets: Cash and cash equivalents $ - $ 16,239 $ 5,657 $ 7,360 $ - $ 29,256 Accounts receivable - 179,788 12,024 22,592 - 214,404 Amounts due from consolidated entities - 21,188 69,433 - (90,621 ) - Other current assets - 39,038 1,645 2,678 - 43,361 Total current assets - 256,253 88,759 32,630 (90,621 ) 287,021 Investments in subsidiaries 242,149 38,259 - - (280,408 ) - Amounts due from consolidated entities - 62,360 - - (62,360 ) - Property and equipment, net - 247,575 20,246 15,854 (75 ) 283,600 Goodwill - 351,780 32,489 104,163 - 488,432 FCC licenses - 427,733 41,563 73,228 - 542,524 Other intangible assets, net - 229,911 17,076 89,419 - 336,406 Restricted cash - 900,402 - - - 900,402 Other noncurrent assets - 66,164 14,797 1,350 - 82,311 Total assets $ 242,149 $ 2,580,437 $ 214,930 $ 316,644 $ (433,464 ) $ 2,920,696 LIABILITIES AND STOCKHOLDERS' EQUITY (DEFICIT) Current liabilities: Current portion of debt $ - $ 19,759 $ 2,334 $ 6,000 $ - $ 28,093 Accounts payable - 20,836 1,324 3,228 - 25,388 Amounts due to consolidated entities - - - 90,621 (90,621 ) - Other current liabilities - 104,150 6,481 17,038 - 127,669 Total current liabilities - 144,745 10,139 116,887 (90,621 ) 181,150 Debt - 2,049,671 221,880 48,526 - 2,320,077 Amounts due to consolidated entities 62,570 - - - (62,570 ) - Other noncurrent liabilities - 127,677 10,127 14,064 - 151,868 Total liabilities 62,570 2,322,093 242,146 179,477 (153,191 ) 2,653,095 Total stockholders' equity (deficit) 179,579 258,344 (27,216 ) 22,034 (280,273 ) 152,468 Noncontrolling interests in consolidated variable interest entities - - - 115,133 - 115,133 Total liabilities and stockholders' equity (deficit) $ 242,149 $ 2,580,437 $ 214,930 $ 316,644 $ (433,464 ) $ 2,920,696 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 September 30, 2016 (in thousands) Nexstar Non- Consolidated Nexstar Broadcasting Mission Guarantors Eliminations Company Net broadcast revenue (including trade and barter) $ - $ 232,326 $ 15,541 $ 27,792 $ - $ 275,659 Revenue between consolidated entities - 8,628 10,383 3,209 (22,220 ) - Net revenue - 240,954 25,924 31,001 (22,220 ) 275,659 Operating expenses: Direct operating expenses, excluding depreciation and amortization - 73,679 7,714 19,390 (39 ) 100,744 Selling, general, and administrative expenses, excluding depreciation and amortization - 59,754 892 4,693 (1,737 ) 63,602 Local service agreement fees between consolidated entities - 11,859 4,500 4,085 (20,444 ) - Amortization of broadcast rights - 11,767 1,388 879 - 14,034 Amortization of intangible assets - 6,735 605 4,165 - 11,505 Depreciation - 11,317 598 962 - 12,877 Total operating expenses - 175,111 15,697 34,174 (22,220 ) 202,762 Income (loss) from operations - 65,843 10,227 (3,173 ) - 72,897 Interest expense, net - (26,893 ) (2,329 ) (400 ) - (29,622 ) Other expenses - (126 ) - - - (126 ) Equity in income of subsidiaries 19,980 - - - (19,980 ) - Income (loss) before income taxes 19,980 38,824 7,898 (3,573 ) (19,980 ) 43,149 Income tax (expense) benefit - (14,962 ) (3,050 ) 479 - (17,533 ) Net income (loss) 19,980 23,862 4,848 (3,094 ) (19,980 ) 25,616 Net income attributable to noncontrolling interests - - - (817 ) - (817 ) Net income (loss) attributable to Nexstar $ 19,980 $ 23,862 $ 4,848 $ (3,911 ) $ (19,980 ) $ 24,799 CONDENSED CONSOLIDATING STATEMENT OF OPERATIONS Three Months Ended September 30, 2015 (in thousands) Nexstar Non- Consolidated Nexstar Broadcasting Mission Guarantors Eliminations Company Net broadcast revenue (including trade and barter) $ - $ 189,789 $ 13,425 $ 19,817 $ - $ 223,031 Revenue between consolidated entities - 6,455 8,873 3,037 (18,365 ) - Net revenue - 196,244 22,298 22,854 (18,365 ) 223,031 Operating expenses: Direct operating expenses, excluding depreciation and amortization - 60,691 7,001 10,859 - 78,551 Selling, general, and administrative expenses, excluding depreciation and amortization - 52,167 819 4,599 (1,159 ) 56,426 Local service agreement fees between consolidated entities - 10,752 2,445 4,009 (17,206 ) - Amortization of broadcast rights - 12,680 1,464 1,168 - 15,312 Amortization of intangible assets - 7,002 605 3,744 - 11,351 Depreciation - 11,735 617 724 - 13,076 Total operating expenses - 155,027 12,951 25,103 (18,365 ) 174,716 Income (loss) from operations - 41,217 9,347 (2,249 ) - 48,315 Interest expense, net - (17,671 ) (2,336 ) (389 ) - (20,396 ) Other expenses - (115 ) - - - (115 ) Equity in income of subsidiaries 13,207 - - - (13,207 ) - Income (loss) before income taxes 13,207 23,431 7,011 (2,638 ) (13,207 ) 27,804 Income tax (expense) benefit - (8,686 ) (3,111 ) 1,148 - (10,649 ) Net income (loss) 13,207 14,745 3,900 (1,490 ) (13,207 ) 17,155 Net loss attributable to noncontrolling interests - - - 127 - 127 Net income (loss) attributable to Nexstar $ 13,207 $ 14,745 $ 3,900 $ (1,363 ) $ (13,207 ) $ 17,282 CONDENSED CONSOLIDATING STATEMENT OF OPERATIONS Nine Months Ended September 30, 2016 (in thousands) Nexstar Non- Consolidated Nexstar Broadcasting Mission Guarantors Eliminations Company Net broadcast revenue (including trade and barter) $ - $ 669,762 $ 45,786 $ 77,763 $ - $ 793,311 Revenue between consolidated entities - 25,800 29,209 8,771 (63,780 ) - Net revenue - 695,562 74,995 86,534 (63,780 ) 793,311 Operating expenses: Direct operating expenses, excluding depreciation and amortization - 211,660 22,581 49,673 (112 ) 283,802 Selling, general, and administrative expenses, excluding depreciation and amortization - 183,845 2,646 15,090 (4,042 ) 197,539 Local service agreement fees between consolidated entities - 33,869 13,500 12,257 (59,626 ) - Amortization of broadcast rights - 37,165 4,169 2,726 - 44,060 Amortization of intangible assets - 20,592 1,816 12,495 - 34,903 Depreciation - 33,737 1,805 2,632 - 38,174 Total operating expenses - 520,868 46,517 94,873 (63,780 ) 598,478 Income (loss) from operations - 174,694 28,478 (8,339 ) - 194,833 Interest expense, net - (62,704 ) (6,951 ) (1,198 ) - (70,853 ) Other expenses - (409 ) - - - (409 ) Equity in income of subsidiaries 57,953 - - - (57,953 ) - Income (loss) before income taxes 57,953 111,581 21,527 (9,537 ) (57,953 ) 123,571 Income tax (expense) benefit - (44,201 ) (8,333 ) 1,652 - (50,882 ) Net income (loss) 57,953 67,380 13,194 (7,885 ) (57,953 ) 72,689 Net income attributable to noncontrolling interests - - - (1,634 ) - (1,634 ) Net income (loss) attributable to Nexstar $ 57,953 $ 67,380 $ 13,194 $ (9,519 ) $ (57,953 ) $ 71,055 CONDENSED CONSOLIDATING STATEMENT OF OPERATIONS Nine Months Ended September 30, 2015 (in thousands) Nexstar Non- Consolidated Nexstar Broadcasting Mission Guarantors Eliminations Company Net broadcast revenue (including trade and barter) $ - $ 547,110 $ 37,773 $ 59,232 $ - $ 644,115 Revenue between consolidated entities - 19,362 26,780 8,752 (54,894 ) - Net revenue - 566,472 64,553 67,984 (54,894 ) 644,115 Operating expenses: Direct operating expenses, excluding depreciation and amortization - 170,390 17,657 31,571 - 219,618 Selling, general, and administrative expenses, excluding depreciation and amortization - 156,641 2,481 14,210 (3,060 ) 170,272 Local service agreement fees between consolidated entities - 32,472 7,335 12,027 (51,834 ) - Amortization of broadcast rights - 36,360 4,308 3,898 - 44,566 Amortization of intangible assets - 22,589 1,812 11,247 - 35,648 Depreciation - 31,286 1,829 2,135 - 35,250 Total operating expenses - 449,738 35,422 75,088 (54,894 ) 505,354 Income (loss) from operations - 116,734 29,131 (7,104 ) - 138,761 Interest expense, net - (51,941 ) (6,974 ) (1,165 ) - (60,080 ) Other expenses - (383 ) - - - (383 ) Equity in income of subsidiaries 37,551 - - - (37,551 ) - Income (loss) before income taxes 37,551 64,410 22,157 (8,269 ) (37,551 ) 78,298 Income tax (expense) benefit - (23,625 ) (9,002 ) 3,296 - (29,331 ) Net income (loss) 37,551 40,785 13,155 (4,973 ) (37,551 ) 48,967 Net loss attributable to noncontrolling interests - - - 1,543 - 1,543 Net income (loss) attributable to Nexstar $ 37,551 $ 40,785 $ 13,155 $ (3,430 ) $ (37,551 ) $ 50,510 CONDENSED CONSOLIDATING STATEMENT OF CASH FLOWS Nine Months Ended September 30, 2016 (in thousands) Nexstar Non- Consolidated Nexstar Broadcasting Mission Guarantors Eliminations Company Cash flows from operating activities $ - $ 155,363 $ 3,532 $ 4,099 $ - $ 162,994 Cash flows from investing activities: Purchases of property and equipment - (22,973 ) (160 ) (2,509 ) - (25,642 ) Deposits and payments for acquisitions - (103,970 ) - - - (103,970 ) Other investing activities - 585 - - - 585 Net cash used in investing activities - (126,358 ) (160 ) (2,509 ) - (129,027 ) Cash flows from financing activities: Proceeds from long-term debt - 58,000 - - - 58,000 Repayments of long-term debt - (68,214 ) (1,751 ) (3,150 ) - (73,115 ) Common stock dividends paid (22,078 ) - - - - (22,078 ) Payments for debt financing costs - (18,957 ) (325 ) - - (19,282 ) Inter-company payments 21,691 (21,691 ) - - - - Excess tax benefit from stock option exercises - 13,428 - - - 13,428 Other financing activities 387 (2,824 ) - (2,643 ) - (5,080 ) Net cash provided by (used in) financing activities - (40,258 ) (2,076 ) (5,793 ) - (48,127 ) Net (decrease) increase in cash and cash equivalents - (11,253 ) 1,296 (4,203 ) - (14,160 ) Cash and cash equivalents at beginning of period - 27,492 4,361 11,563 - 43,416 Cash and cash equivalents at end of period $ - $ 16,239 $ 5,657 $ 7,360 $ - $ 29,256 CONDENSED CONSOLIDATING STATEMENT OF CASH FLOWS Nine Months Ended September 30, 2015 (in thousands) Nexstar Non- Consolidated Nexstar Broadcasting Mission Guarantors Eliminations Company Cash flows from operating activities $ - $ 123,602 $ 10,085 $ 6,968 $ - $ 140,655 Cash flows from investing activities: Purchases of property and equipment - (19,315 ) (138 ) (2,005 ) 176 (21,282 ) Deposits and payments for acquisitions - (504,678 ) - (300 ) 43,300 (461,678 ) Proceeds from sale of a station - 70,105 - - (43,300 ) 26,805 Other investing activities - 2,032 150 200 (176 ) 2,206 Net cash (used in) provided by investing activities - (451,856 ) 12 (2,105 ) - (453,949 ) Cash flows from financing activities: Proceeds from long-term debt - 414,950 - 2,000 - 416,950 Repayments of long-term debt - (142,391 ) (6,877 ) (2,250 ) - (151,518 ) Common stock dividends paid (17,870 ) - - - - (17,870 ) Purchase of treasury stock (48,660 ) (48,660 ) Inter-company payments 63,203 (63,203 ) - - - - Other financing activities 3,327 2,419 (8 ) 98 - 5,836 Net financing - 211,775 (6,885 ) (152 ) - 204,738 Net (decrease) increase in cash and cash equivalents - (116,479 ) 3,212 4,711 - (108,556 ) Cash and cash equivalents at beginning of period - 130,472 880 560 - 131,912 Cash and cash equivalents at end of period $ - $ 13,993 $ 4,092 $ 5,271 $ - $ 23,356

Subsequent Events

Subsequent Events	9 Months Ended
	Sep. 30, 2016
Subsequent Events [Abstract]
Subsequent Events	11. Subsequent Events On October 20, 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 November 18, 2016 to stockholders of record on November 4, 2016.

Summary of Significant Accoun18

Summary of Significant Accounting Policies (Policies)	9 Months Ended
	Sep. 30, 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): September 30, December 31, 2016 2015 Current assets $ 4,342 $ 2,910 Property and equipment, net 7,075 4,004 Goodwill 46,314 18,182 FCC licenses 114,791 74,312 Other intangible assets, net 54,187 20,112 Other noncurrent assets, net 423 389 Total assets 227,132 119,909 Current liabilities 12,436 14,288 Noncurrent liabilities 25,609 26,427 Total liabilities $ 38,045 $ 40,715
Interim Financial Statements	Interim Financial Statements The Condensed Consolidated Financial Statements as of September 30, 2016 and for the three and nine months ended September 30, 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 and White Knight station, subject to Federal Communications Commission (“FCC”) consent. In connection with Nexstar’s acquisition of four full power television stations from WVMH, Nexstar began providing programming and sales services to these stations through a TBA with WVMH effective December 1, 2015. Pursuant to the terms of the agreement, 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 acquisition which is expected to occur at the end of 2016. Nexstar has determined that it has variable interests in the WVMH stations. However, if the acquisition is not consummated for reasons beyond the control of Nexstar and WVMH, the TBA will terminate no later than June 30, 2017. Thus, Nexstar previously determined that it was not the primary beneficiary of its variable interests on these stations. On August 2, 2016, Nexstar received approval from the FCC to acquire the stations’ remaining assets. Due to this development, the acquisition becomes probable of occurring and Nexstar now holds the ultimate power to direct the activities that most significantly impact the stations’ economic performance including developing the annual operating budget, advertising sales and oversight and control of sales force personnel. Therefore, Nexstar became the primary beneficiary of its variable interests and consolidated these stations as of August 2, 2016. See Note 3 for additional information. The following table summarizes the various local service agreements Nexstar had in effect as of September 30, 2016 with Mission, Marshall, Parker, White Knight and WVMH: Service Agreements Owner Full Power Stations TBA Only Mission WFXP and KHMT Parker KFQX WVMH WOWK, WTRF, WVNS and WBOY 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, White Knight and the WVMH stations 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, White Knight and WVMH 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): September 30, December 31, 2016 2015 Current assets: Cash and cash equivalents $ 7,030 $ 6,137 Accounts receivable, net 20,108 16,400 Prepaid expenses and other current assets 3,822 3,460 Total current assets 30,960 25,997 Property and equipment, net 30,919 29,681 Goodwill 97,955 69,825 FCC licenses 114,791 74,312 Other intangible assets, net 89,114 58,053 Other noncurrent assets, net 16,097 22,572 Total assets $ 379,836 $ 280,440 Current liabilities: Current portion of debt $ 8,334 $ 6,985 Interest payable 27 28 Other current liabilities 12,436 14,288 Total current liabilities 20,797 21,301 Debt 270,406 276,131 Other noncurrent liabilities 25,609 26,427 Total liabilities $ 316,812 $ 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. Nexstar has determined that it has a variable interest in WYZZ. Nexstar has evaluated its arrangements with Cunningham and has determined that it is not the primary beneficiary of the variable interest in this station because it does not have the ultimate power to direct the activities that most significantly impact the station’s 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 this station under authoritative guidance related to the consolidation of VIEs. Under the local service agreement for WYZZ, 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 agreement consists of the fees paid to Cunningham. Additionally, Nexstar indemnifies the owners of WYZZ from and against all liability and claims arising out of or resulting from its activities, acts or omissions in connection with the agreement. The maximum potential amount of future payments Nexstar could be required to make for such indemnification is undeterminable at this time. As discussed above, Nexstar previously determined that it was not the primary beneficiary of its variable interests in the stations currently owned by WVMH. On August 2, 2016, Nexstar became the primary beneficiary of its variable interests and consolidated these stations as of that date. As of September 30, 2016 and December 31, 2015, Nexstar had balances in accounts payable of $0.2 million and $0.8 million, respectively, for fees under these arrangements and had receivables for advertising aired on these stations of $0.6 million and $1.0 million, respectively. Fees incurred under these arrangements of $0.2 million and $0.1 million for the three months ended September 30, 2016 and 2015, respectively, and $4.0 million and $0.5 million during each of the nine months then ended, were included in direct operating expenses in the Condensed Consolidated Statements of Operations.
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. On July 27, 2016, Nexstar Escrow Corporation (“Nexstar Escrow”), a wholly-owned subsidiary of Nexstar, completed the sale and issuance of $900.0 million of 5.625% Senior Unsecured Notes due 2024 at par (the “5.625% Notes”). The gross proceeds from these notes, plus Nexstar’s pre-funding of $14.1 million interest, have been deposited into a segregated escrow account and invested into money market funds and government obligations which are valued using quoted prices in active markets for identical assets (Level 1). These funds are restricted until certain conditions are satisfied, including the consummation of Nexstar’s proposed merger with Media General, Inc. (“Media General”) (See Notes 3 and 6). As of September 30, 2016, the pre-funded interest is included in prepaid expenses and other current assets and the gross proceeds from the notes plus the investment income earned are presented as non-current restricted cash in the accompanying Condensed Consolidated Balance Sheet. 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 Nine Months Ended September 30, September 30, 2016 2015 2016 2015 Weighted average shares outstanding - basic 30,695 31,262 30,678 31,261 Dilutive effect of equity incentive plan instruments 1,003 889 941 1,002 Weighted average shares outstanding - diluted 31,698 32,151 31,619 32,263 Stock options and restricted stock units to acquire a weighted average of 224,000 shares and 879,000 shares for the three months ended September 30, 2016 and 2015, respectively, and 468,000 shares and 932,000 shares during each of the respective nine months then ended of Class A common stock were excluded from the computation of diluted earnings per share, because their impact would have been anti-dilutive.
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 nine months ended September 30, 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. 2016-09, Compensation - Stock Compensation (Topic 718): Improvements to Employee Share-Based Payment Accounting In March 2016, the FASB issued ASU No. 2016-08, Revenue from Contracts with Customers (Topic 606): Principal versus Agent Considerations Revenue from Contracts with Customers (Topic 606): Identifying Performance Obligations and Licensing Revenue from Contracts with Customers: Narrow-Scope Improvements and Practical Expedients In August 2016, the FASB issued ASU No. 2016-15, Statement of Cash Flows (Topic 230) Classification of Certain Cash Receipts and Cash Payments (a consensus of the Emerging Issues Task Force)

Summary of Significant Accoun19

Summary of Significant Accounting Policies (Tables)	9 Months Ended
	Sep. 30, 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): September 30, December 31, 2016 2015 Current assets: Cash and cash equivalents $ 7,030 $ 6,137 Accounts receivable, net 20,108 16,400 Prepaid expenses and other current assets 3,822 3,460 Total current assets 30,960 25,997 Property and equipment, net 30,919 29,681 Goodwill 97,955 69,825 FCC licenses 114,791 74,312 Other intangible assets, net 89,114 58,053 Other noncurrent assets, net 16,097 22,572 Total assets $ 379,836 $ 280,440 Current liabilities: Current portion of debt $ 8,334 $ 6,985 Interest payable 27 28 Other current liabilities 12,436 14,288 Total current liabilities 20,797 21,301 Debt 270,406 276,131 Other noncurrent liabilities 25,609 26,427 Total liabilities $ 316,812 $ 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 Nine Months Ended September 30, September 30, 2016 2015 2016 2015 Weighted average shares outstanding - basic 30,695 31,262 30,678 31,261 Dilutive effect of equity incentive plan instruments 1,003 889 941 1,002 Weighted average shares outstanding - diluted 31,698 32,151 31,619 32,263
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): September 30, December 31, 2016 2015 Current assets $ 4,342 $ 2,910 Property and equipment, net 7,075 4,004 Goodwill 46,314 18,182 FCC licenses 114,791 74,312 Other intangible assets, net 54,187 20,112 Other noncurrent assets, net 423 389 Total assets 227,132 119,909 Current liabilities 12,436 14,288 Noncurrent liabilities 25,609 26,427 Total liabilities $ 38,045 $ 40,715

Acquisitions and Dispositions (

Acquisitions and Dispositions (Tables)	9 Months Ended
	Sep. 30, 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 3,402 Goodwill 35 Total assets acquired at first closing 22,351 Less: Accounts payable and accrued expenses (623 ) Less: Other noncurrent liabilities (307 ) Net assets acquired at first closing 21,421 Deposit on second closing 43,543 Total paid at first closing $ 64,964
WVMH [Member] | Consolidated VIEs [Member]
Business Acquisition [Line Items]
Schedule of Assets Acquired and Liabilities Assumed	Subject to final determination, which is expected to occur within twelve months of the acquisition date, the provisional fair values of the remaining assets consolidated are as follows (in thousands): Broadcast rights $ 527 Property and equipment 3,489 FCC licenses 41,230 Network affiliation agreements 35,387 Goodwill 28,437 Consolidated assets of VIEs 109,070 Less: Broadcast rights payable (527 ) Consolidated net asset of VIEs $ 108,543
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 8,139 FCC licenses 9,779 Network affiliation agreements 16,084 Other intangible assets 2,073 Goodwill 7,931 Total assets acquired 44,019 Less: Broadcast rights payable (13 ) Less: Accounts payable and accrued expenses (8 ) Net assets acquired $ 43,998
KCWI [Member]
Business Acquisition [Line Items]
Schedule of Assets Acquired and Liabilities Assumed	Subject to final determination, which is expected to occur within twelve months of the acquisition date, the provisional fair values of the assets acquired and liabilities assumed in the acquisition are as follows (in thousands): Accounts receivable $ 380 Broadcast rights 1,740 Prepaid expenses and other current assets 40 Property and equipment 1,076 FCC licenses 2,180 Other intangible assets 2 Goodwill 367 Total assets acquired 5,785 Less: Broadcast rights payable (1,886 ) Less: Accrued expenses (17 ) Net assets acquired $ 3,882

Intangible Assets and Goodwill

Intangible Assets and Goodwill (Tables)	9 Months Ended
	Sep. 30, 2016
Goodwill And Intangible Assets Disclosure [Abstract]
Intangible Assets Subject to Amortization	Intangible assets subject to amortization consisted of the following (in thousands): Estimated September 30, 2016 December 31, 2015 useful life, Accumulated Accumulated in years Gross Amortization Net Gross Amortization Net Network affiliation agreements 15 $ 659,054 $ (350,693 ) $ 308,361 $ 614,592 $ (338,016 ) $ 276,576 Other definite-lived intangible assets 1-15 90,398 (62,353 ) 28,045 84,921 (47,136 ) 37,785 Other intangible assets $ 749,452 $ (413,046 ) $ 336,406 $ 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 September 30, 2016 (in thousands): Remainder of 2016 $ 11,599 2017 41,614 2018 30,865 2019 28,224 2020 24,910 2021 24,697 Thereafter 174,497 $ 336,406
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 and consolidations of VIEs (See Note 3) 36,770 - 36,770 53,189 - 53,189 Balances as of September 30, 2016 $ 534,423 $ (45,991 ) $ 488,432 $ 591,945 $ (49,421 ) $ 542,524

Accrued Expenses (Tables)

Accrued Expenses (Tables)	9 Months Ended
	Sep. 30, 2016
Payables And Accruals [Abstract]
Accrued Expenses	Accrued expenses consisted of the following (in thousands): September 30, December 31, 2016 2015 Compensation and related taxes $ 25,005 $ 15,810 Network affiliation fees 24,634 22,324 Other 20,725 22,425 $ 70,364 $ 60,559

Debt (Tables)

Debt (Tables)	9 Months Ended
	Sep. 30, 2016
Debt Disclosure [Abstract]
Long Term Debt	Long-term debt consisted of the following (in thousands): September 30, December 31, 2016 2015 Term loans, net of financing costs and discount of $7,126 and $8,715, respectively $ 668,696 $ 682,223 Revolving loans 2,000 2,000 6.875% Senior unsecured notes due 2020, net of financing costs and discount of $4,533 and $5,223, respectively 520,467 519,777 6.125% Senior unsecured notes due 2022, net of financing costs of $2,500 and $2,786, respectively 272,500 272,214 5.625% Senior unsecured notes due 2024, net of financing costs of $15,493 884,507 - 2,348,170 1,476,214 Less: current portion (28,093 ) (22,139 ) $ 2,320,077 $ 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): September 30, 2016 December 31, 2015 Carrying Fair Carrying Fair Amount Value Amount Value Term loans (1) $ 668,696 $ 674,070 $ 682,223 $ 678,045 Revolving loans (1) 2,000 1,984 2,000 1,961 6.875% Senior unsecured notes (2) 520,467 544,525 519,777 534,188 6.125% Senior unsecured notes (2) 272,500 284,625 272,214 269,500 5.625% Senior unsecured notes (2) 884,512 909,000 - - (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)	9 Months Ended
	Sep. 30, 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 September 30, 2016 Broadcasting Other Consolidated Net revenue $ 257,789 $ 17,870 $ 275,659 Depreciation 10,978 1,899 12,877 Amortization of intangible assets 8,175 3,330 11,505 Income (loss) from operations 89,511 (16,614 ) 72,897 Three Months Ended September 30, 2015 Broadcasting Other Consolidated Net revenue $ 212,504 $ 10,527 $ 223,031 Depreciation 11,305 1,771 13,076 Amortization of intangible assets 8,405 2,946 11,351 Income (loss) from operations 63,214 (14,899 ) 48,315 Nine Months Ended September 30, 2016 Broadcasting Other Consolidated Net revenue $ 745,281 $ 48,030 $ 793,311 Depreciation 33,137 5,037 38,174 Amortization of intangible assets 24,838 10,065 34,903 Income (loss) from operations 248,493 (53,660 ) 194,833 Nine Months Ended September 30, 2015 Broadcasting Other Consolidated Net revenue $ 610,769 $ 33,346 $ 644,115 Depreciation 30,855 4,395 35,250 Amortization of intangible assets 27,719 7,929 35,648 Income (loss) from operations 181,895 (43,134 ) 138,761 As of September 30, 2016 Broadcasting Other Consolidated Goodwill $ 449,735 $ 38,697 $ 488,432 Assets 1,815,566 1,105,130 2,920,696 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)	9 Months Ended
	Sep. 30, 2016
Condensed Financial Information Of Parent Company Only Disclosure [Abstract]
Schedule of Condensed Consolidating Balance Sheet	CONDENSED CONSOLIDATING BALANCE SHEET As of September 30, 2016 (in thousands) Nexstar Non- Consolidated Nexstar Broadcasting Mission Guarantors Eliminations Company ASSETS Current assets: Cash and cash equivalents $ - $ 16,239 $ 5,657 $ 7,360 $ - $ 29,256 Accounts receivable - 179,788 12,024 22,592 - 214,404 Amounts due from consolidated entities - 21,188 69,433 - (90,621 ) - Other current assets - 39,038 1,645 2,678 - 43,361 Total current assets - 256,253 88,759 32,630 (90,621 ) 287,021 Investments in subsidiaries 242,149 38,259 - - (280,408 ) - Amounts due from consolidated entities - 62,360 - - (62,360 ) - Property and equipment, net - 247,575 20,246 15,854 (75 ) 283,600 Goodwill - 351,780 32,489 104,163 - 488,432 FCC licenses - 427,733 41,563 73,228 - 542,524 Other intangible assets, net - 229,911 17,076 89,419 - 336,406 Restricted cash - 900,402 - - - 900,402 Other noncurrent assets - 66,164 14,797 1,350 - 82,311 Total assets $ 242,149 $ 2,580,437 $ 214,930 $ 316,644 $ (433,464 ) $ 2,920,696 LIABILITIES AND STOCKHOLDERS' EQUITY (DEFICIT) Current liabilities: Current portion of debt $ - $ 19,759 $ 2,334 $ 6,000 $ - $ 28,093 Accounts payable - 20,836 1,324 3,228 - 25,388 Amounts due to consolidated entities - - - 90,621 (90,621 ) - Other current liabilities - 104,150 6,481 17,038 - 127,669 Total current liabilities - 144,745 10,139 116,887 (90,621 ) 181,150 Debt - 2,049,671 221,880 48,526 - 2,320,077 Amounts due to consolidated entities 62,570 - - - (62,570 ) - Other noncurrent liabilities - 127,677 10,127 14,064 - 151,868 Total liabilities 62,570 2,322,093 242,146 179,477 (153,191 ) 2,653,095 Total stockholders' equity (deficit) 179,579 258,344 (27,216 ) 22,034 (280,273 ) 152,468 Noncontrolling interests in consolidated variable interest entities - - - 115,133 - 115,133 Total liabilities and stockholders' equity (deficit) $ 242,149 $ 2,580,437 $ 214,930 $ 316,644 $ (433,464 ) $ 2,920,696 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 September 30, 2016 (in thousands) Nexstar Non- Consolidated Nexstar Broadcasting Mission Guarantors Eliminations Company Net broadcast revenue (including trade and barter) $ - $ 232,326 $ 15,541 $ 27,792 $ - $ 275,659 Revenue between consolidated entities - 8,628 10,383 3,209 (22,220 ) - Net revenue - 240,954 25,924 31,001 (22,220 ) 275,659 Operating expenses: Direct operating expenses, excluding depreciation and amortization - 73,679 7,714 19,390 (39 ) 100,744 Selling, general, and administrative expenses, excluding depreciation and amortization - 59,754 892 4,693 (1,737 ) 63,602 Local service agreement fees between consolidated entities - 11,859 4,500 4,085 (20,444 ) - Amortization of broadcast rights - 11,767 1,388 879 - 14,034 Amortization of intangible assets - 6,735 605 4,165 - 11,505 Depreciation - 11,317 598 962 - 12,877 Total operating expenses - 175,111 15,697 34,174 (22,220 ) 202,762 Income (loss) from operations - 65,843 10,227 (3,173 ) - 72,897 Interest expense, net - (26,893 ) (2,329 ) (400 ) - (29,622 ) Other expenses - (126 ) - - - (126 ) Equity in income of subsidiaries 19,980 - - - (19,980 ) - Income (loss) before income taxes 19,980 38,824 7,898 (3,573 ) (19,980 ) 43,149 Income tax (expense) benefit - (14,962 ) (3,050 ) 479 - (17,533 ) Net income (loss) 19,980 23,862 4,848 (3,094 ) (19,980 ) 25,616 Net income attributable to noncontrolling interests - - - (817 ) - (817 ) Net income (loss) attributable to Nexstar $ 19,980 $ 23,862 $ 4,848 $ (3,911 ) $ (19,980 ) $ 24,799 CONDENSED CONSOLIDATING STATEMENT OF OPERATIONS Three Months Ended September 30, 2015 (in thousands) Nexstar Non- Consolidated Nexstar Broadcasting Mission Guarantors Eliminations Company Net broadcast revenue (including trade and barter) $ - $ 189,789 $ 13,425 $ 19,817 $ - $ 223,031 Revenue between consolidated entities - 6,455 8,873 3,037 (18,365 ) - Net revenue - 196,244 22,298 22,854 (18,365 ) 223,031 Operating expenses: Direct operating expenses, excluding depreciation and amortization - 60,691 7,001 10,859 - 78,551 Selling, general, and administrative expenses, excluding depreciation and amortization - 52,167 819 4,599 (1,159 ) 56,426 Local service agreement fees between consolidated entities - 10,752 2,445 4,009 (17,206 ) - Amortization of broadcast rights - 12,680 1,464 1,168 - 15,312 Amortization of intangible assets - 7,002 605 3,744 - 11,351 Depreciation - 11,735 617 724 - 13,076 Total operating expenses - 155,027 12,951 25,103 (18,365 ) 174,716 Income (loss) from operations - 41,217 9,347 (2,249 ) - 48,315 Interest expense, net - (17,671 ) (2,336 ) (389 ) - (20,396 ) Other expenses - (115 ) - - - (115 ) Equity in income of subsidiaries 13,207 - - - (13,207 ) - Income (loss) before income taxes 13,207 23,431 7,011 (2,638 ) (13,207 ) 27,804 Income tax (expense) benefit - (8,686 ) (3,111 ) 1,148 - (10,649 ) Net income (loss) 13,207 14,745 3,900 (1,490 ) (13,207 ) 17,155 Net loss attributable to noncontrolling interests - - - 127 - 127 Net income (loss) attributable to Nexstar $ 13,207 $ 14,745 $ 3,900 $ (1,363 ) $ (13,207 ) $ 17,282 CONDENSED CONSOLIDATING STATEMENT OF OPERATIONS Nine Months Ended September 30, 2016 (in thousands) Nexstar Non- Consolidated Nexstar Broadcasting Mission Guarantors Eliminations Company Net broadcast revenue (including trade and barter) $ - $ 669,762 $ 45,786 $ 77,763 $ - $ 793,311 Revenue between consolidated entities - 25,800 29,209 8,771 (63,780 ) - Net revenue - 695,562 74,995 86,534 (63,780 ) 793,311 Operating expenses: Direct operating expenses, excluding depreciation and amortization - 211,660 22,581 49,673 (112 ) 283,802 Selling, general, and administrative expenses, excluding depreciation and amortization - 183,845 2,646 15,090 (4,042 ) 197,539 Local service agreement fees between consolidated entities - 33,869 13,500 12,257 (59,626 ) - Amortization of broadcast rights - 37,165 4,169 2,726 - 44,060 Amortization of intangible assets - 20,592 1,816 12,495 - 34,903 Depreciation - 33,737 1,805 2,632 - 38,174 Total operating expenses - 520,868 46,517 94,873 (63,780 ) 598,478 Income (loss) from operations - 174,694 28,478 (8,339 ) - 194,833 Interest expense, net - (62,704 ) (6,951 ) (1,198 ) - (70,853 ) Other expenses - (409 ) - - - (409 ) Equity in income of subsidiaries 57,953 - - - (57,953 ) - Income (loss) before income taxes 57,953 111,581 21,527 (9,537 ) (57,953 ) 123,571 Income tax (expense) benefit - (44,201 ) (8,333 ) 1,652 - (50,882 ) Net income (loss) 57,953 67,380 13,194 (7,885 ) (57,953 ) 72,689 Net income attributable to noncontrolling interests - - - (1,634 ) - (1,634 ) Net income (loss) attributable to Nexstar $ 57,953 $ 67,380 $ 13,194 $ (9,519 ) $ (57,953 ) $ 71,055 CONDENSED CONSOLIDATING STATEMENT OF OPERATIONS Nine Months Ended September 30, 2015 (in thousands) Nexstar Non- Consolidated Nexstar Broadcasting Mission Guarantors Eliminations Company Net broadcast revenue (including trade and barter) $ - $ 547,110 $ 37,773 $ 59,232 $ - $ 644,115 Revenue between consolidated entities - 19,362 26,780 8,752 (54,894 ) - Net revenue - 566,472 64,553 67,984 (54,894 ) 644,115 Operating expenses: Direct operating expenses, excluding depreciation and amortization - 170,390 17,657 31,571 - 219,618 Selling, general, and administrative expenses, excluding depreciation and amortization - 156,641 2,481 14,210 (3,060 ) 170,272 Local service agreement fees between consolidated entities - 32,472 7,335 12,027 (51,834 ) - Amortization of broadcast rights - 36,360 4,308 3,898 - 44,566 Amortization of intangible assets - 22,589 1,812 11,247 - 35,648 Depreciation - 31,286 1,829 2,135 - 35,250 Total operating expenses - 449,738 35,422 75,088 (54,894 ) 505,354 Income (loss) from operations - 116,734 29,131 (7,104 ) - 138,761 Interest expense, net - (51,941 ) (6,974 ) (1,165 ) - (60,080 ) Other expenses - (383 ) - - - (383 ) Equity in income of subsidiaries 37,551 - - - (37,551 ) - Income (loss) before income taxes 37,551 64,410 22,157 (8,269 ) (37,551 ) 78,298 Income tax (expense) benefit - (23,625 ) (9,002 ) 3,296 - (29,331 ) Net income (loss) 37,551 40,785 13,155 (4,973 ) (37,551 ) 48,967 Net loss attributable to noncontrolling interests - - - 1,543 - 1,543 Net income (loss) attributable to Nexstar $ 37,551 $ 40,785 $ 13,155 $ (3,430 ) $ (37,551 ) $ 50,510
Schedule of Condensed Consolidating Cash Flow Statement	CONDENSED CONSOLIDATING STATEMENT OF CASH FLOWS Nine Months Ended September 30, 2016 (in thousands) Nexstar Non- Consolidated Nexstar Broadcasting Mission Guarantors Eliminations Company Cash flows from operating activities $ - $ 155,363 $ 3,532 $ 4,099 $ - $ 162,994 Cash flows from investing activities: Purchases of property and equipment - (22,973 ) (160 ) (2,509 ) - (25,642 ) Deposits and payments for acquisitions - (103,970 ) - - - (103,970 ) Other investing activities - 585 - - - 585 Net cash used in investing activities - (126,358 ) (160 ) (2,509 ) - (129,027 ) Cash flows from financing activities: Proceeds from long-term debt - 58,000 - - - 58,000 Repayments of long-term debt - (68,214 ) (1,751 ) (3,150 ) - (73,115 ) Common stock dividends paid (22,078 ) - - - - (22,078 ) Payments for debt financing costs - (18,957 ) (325 ) - - (19,282 ) Inter-company payments 21,691 (21,691 ) - - - - Excess tax benefit from stock option exercises - 13,428 - - - 13,428 Other financing activities 387 (2,824 ) - (2,643 ) - (5,080 ) Net cash provided by (used in) financing activities - (40,258 ) (2,076 ) (5,793 ) - (48,127 ) Net (decrease) increase in cash and cash equivalents - (11,253 ) 1,296 (4,203 ) - (14,160 ) Cash and cash equivalents at beginning of period - 27,492 4,361 11,563 - 43,416 Cash and cash equivalents at end of period $ - $ 16,239 $ 5,657 $ 7,360 $ - $ 29,256 CONDENSED CONSOLIDATING STATEMENT OF CASH FLOWS Nine Months Ended September 30, 2015 (in thousands) Nexstar Non- Consolidated Nexstar Broadcasting Mission Guarantors Eliminations Company Cash flows from operating activities $ - $ 123,602 $ 10,085 $ 6,968 $ - $ 140,655 Cash flows from investing activities: Purchases of property and equipment - (19,315 ) (138 ) (2,005 ) 176 (21,282 ) Deposits and payments for acquisitions - (504,678 ) - (300 ) 43,300 (461,678 ) Proceeds from sale of a station - 70,105 - - (43,300 ) 26,805 Other investing activities - 2,032 150 200 (176 ) 2,206 Net cash (used in) provided by investing activities - (451,856 ) 12 (2,105 ) - (453,949 ) Cash flows from financing activities: Proceeds from long-term debt - 414,950 - 2,000 - 416,950 Repayments of long-term debt - (142,391 ) (6,877 ) (2,250 ) - (151,518 ) Common stock dividends paid (17,870 ) - - - - (17,870 ) Purchase of treasury stock (48,660 ) (48,660 ) Inter-company payments 63,203 (63,203 ) - - - - Other financing activities 3,327 2,419 (8 ) 98 - 5,836 Net financing - 211,775 (6,885 ) (152 ) - 204,738 Net (decrease) increase in cash and cash equivalents - (116,479 ) 3,212 4,711 - (108,556 ) Cash and cash equivalents at beginning of period - 130,472 880 560 - 131,912 Cash and cash equivalents at end of period $ - $ 13,993 $ 4,092 $ 5,271 $ - $ 23,356

Organization and Business Ope26

Organization and Business Operations (Details)	Sep. 30, 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 which the Company's stations broadcast | 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		Sep. 30, 2016	Dec. 31, 2015	Sep. 30, 2015	Dec. 31, 2014
Current assets:
Cash and cash equivalents		$ 29,256	$ 43,416	$ 23,356	$ 131,912
Accounts receivable, net		214,404	192,991
Prepaid expenses and other current assets		27,866	7,324
Total current assets		287,021	260,028
Property and equipment, net		283,600	266,583
Goodwill		488,432	451,662
FCC licenses		542,524	489,335
Other intangible assets, net		336,406	314,361
Other noncurrent assets, net		82,311	53,165
Total assets	[1]	2,920,696	1,835,134
Current liabilities:
Current portion of debt		28,093	22,139
Interest payable		24,751	10,939
Other current liabilities		15,804	8,978
Total current liabilities		181,150	146,061
Debt		2,320,077	1,454,075
Other noncurrent liabilities		40,789	46,861
Total liabilities	[1]	2,653,095	1,748,761
Consolidated VIEs [Member]
Variable Interest Entity [Line Items]
Consolidated VIEs, Assets		227,132	119,909
Consolidated VIEs, Liabilities		38,045	40,715
Current assets:
Cash and cash equivalents		7,030	6,137
Accounts receivable, net		20,108	16,400
Prepaid expenses and other current assets		3,822	3,460
Total current assets		30,960	25,997
Property and equipment, net		30,919	29,681
Goodwill		97,955	69,825
FCC licenses		114,791	74,312
Other intangible assets, net		89,114	58,053
Other noncurrent assets, net		16,097	22,572
Total assets		379,836	280,440
Current liabilities:
Current portion of debt		8,334	6,985
Interest payable		27	28
Other current liabilities		12,436	14,288
Total current liabilities		20,797	21,301
Debt		270,406	276,131
Other noncurrent liabilities		25,609	26,427
Total liabilities		316,812	323,859
Consolidated VIEs [Member] | Current assets [Member]
Variable Interest Entity [Line Items]
Consolidated VIEs, Assets		4,342	2,910
Consolidated VIEs [Member] | Property and equipment, net [Member]
Variable Interest Entity [Line Items]
Consolidated VIEs, Assets		7,075	4,004
Consolidated VIEs [Member] | Goodwill [Member]
Variable Interest Entity [Line Items]
Consolidated VIEs, Assets		46,314	18,182
Consolidated VIEs [Member] | FCC licenses [Member]
Variable Interest Entity [Line Items]
Consolidated VIEs, Assets		114,791	74,312
Consolidated VIEs [Member] | Other intangible assets, net [Member]
Variable Interest Entity [Line Items]
Consolidated VIEs, Assets		54,187	20,112
Consolidated VIEs [Member] | Other noncurrent assets, net [Member]
Variable Interest Entity [Line Items]
Consolidated VIEs, Assets		423	389
Consolidated VIEs [Member] | Current liabilities [Member]
Variable Interest Entity [Line Items]
Consolidated VIEs, Liabilities		12,436	14,288
Consolidated VIEs [Member] | Noncurrent liabilities [Member]
Variable Interest Entity [Line Items]
Consolidated VIEs, Liabilities		$ 25,609	$ 26,427
[1]	The consolidated total assets as of September 30, 2016 and December 31, 2015 include certain assets held by consolidated VIEs of $227.1 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 September 30, 2016 and December 31, 2015 include certain liabilities of consolidated VIEs of $38.0 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) shares in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2016USD ($)TelevisionStationshares	Sep. 30, 2015USD ($)shares	Sep. 30, 2016USD ($)TelevisionStationshares	Sep. 30, 2015USD ($)shares	Jul. 27, 2016USD ($)	Dec. 31, 2015USD ($)	Dec. 01, 2015USD ($)
Debt Disclosure [Abstract]
Gross proceeds from issuance of notes directly deposited In to escrow.	$ 900,402,000		$ 900,402,000
Earnings Per Share Basic And Diluted Other Disclosures [Abstract]
Stock options and restricted stock units with potentially dilutive effect (in shares) | shares	224	879	468	932
Additional Paid-In Capital [Member]
Earnings Per Share Basic And Diluted Other Disclosures [Abstract]
Excess tax benefit from stock option exercises			$ 13,200,000
Senior Subordinated Notes [Member] | 5.625 % Due 2024 [Member]
Debt Disclosure [Abstract]
Interest rate	5.625%		5.625%		5.625%
Senior Subordinated Notes [Member] | 5.625 % Due 2024 [Member] | Fair Value, Inputs, Level 1 [Member]
Debt Disclosure [Abstract]
Gross proceeds from issuance of notes directly deposited In to escrow.					$ 900,000,000
Pre-funded interest deposited in to escrow	$ 14,100,000		$ 14,100,000
Nonconsolidated VIEs [Member]
Variable Interest Entity Nonconsolidated Carrying Amount Assets and Liabilities [Abstract]
Accounts payable for fees	200,000		200,000			$ 800,000
Receivable for advertisements	600,000		600,000			$ 1,000,000
Payments made under outsourcing agreement	$ 200,000	$ 100,000	$ 4,000,000	$ 500,000
WVMH [Member] | Consolidated VIEs [Member]
Variable Interest Entity Consolidated Carrying Amount Assets and Liabilities [Abstract]
Number of stations proposed to acquire | TelevisionStation	4		4
Aggregate base fee							$ 7,500,000

Summary of Significant Accoun29

Summary of Significant Accounting Policies - Weighted Average Shares Outstanding (Details) - shares shares in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015
Earnings Per Share Basic And Diluted Other Disclosures [Abstract]
Weighted average shares outstanding - basic	30,695	31,262	30,678	31,261
Dilutive effect of equity incentive plan instruments	1,003	889	941	1,002
Weighted average shares outstanding - diluted	31,698	32,151	31,619	32,263

Acquisitions and Dispositions -

Acquisitions and Dispositions - WVMH - Additional Information (Details) $ in Thousands	Aug. 02, 2016USD ($)	Jan. 04, 2016USD ($)	Nov. 16, 2015USD ($)TelevisionStation	Sep. 30, 2016USD ($)	Sep. 30, 2016USD ($)	Sep. 30, 2015USD ($)	Sep. 30, 2016USD ($)	Sep. 30, 2015USD ($)
Business Acquisition [Line Items]
Consolidation of remaining assets in non-controlling interests							$ 108,543
Revenue included in consolidated statements of operations					$ 275,659	$ 223,031	793,311	$ 644,115
Operating income (loss)					$ 72,897	$ 48,315	194,833	$ 138,761
WVMH [Member]
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			$ 6,500
Remaining purchase price expected to be paid		$ 65,000
Acquisition related costs							$ 100
Revenue included in consolidated statements of operations				$ 9,000
Operating income (loss)				$ 1,500
WVMH [Member] | Consolidated VIEs [Member]
Business Acquisition [Line Items]
Network affiliation agreements useful life	15 years
Consolidation of remaining assets in non-controlling interests	$ 108,500
WVMH [Member] | Other definite-lived intangible assets [Member]
Business Acquisition [Line Items]
Weighted average estimated useful life of other intangible assets		3 years

Acquisitions and Dispositions31

Acquisitions and Dispositions - Fair Values of Assets Acquired and Liabilities Assumed (Details) - USD ($) $ in Thousands	Jan. 04, 2016	Sep. 30, 2016	Aug. 02, 2016	Mar. 14, 2016	Jan. 31, 2016	Dec. 31, 2015
Business Acquisition [Line Items]
Goodwill		$ 488,432				$ 451,662
Consolidated VIEs [Member]
Business Acquisition [Line Items]
Goodwill		$ 97,955				$ 69,825
WVMH [Member]
Business Acquisition [Line Items]
Accounts receivable	$ 438
Prepaid expenses and other current assets	114
Property and equipment	18,362
Goodwill	35
Total assets acquired	22,351
Less: Accounts payable and accrued expenses	(623)
Less: Other noncurrent liabilities	(307)
Net assets acquired	21,421
Deposit on second closing	43,543
Total paid at first closing	64,964
WVMH [Member] | Consolidated VIEs [Member]
Business Acquisition [Line Items]
Broadcast rights			$ 527
Property and equipment			3,489
FCC licenses			41,230
Goodwill			28,437
Total assets acquired			109,070
Less: Broadcast rights payable			(527)
Net assets acquired			108,543
WVMH [Member] | Network affiliation agreements [Member] | Consolidated VIEs [Member]
Business Acquisition [Line Items]
Finite-lived intangible assets			$ 35,387
WVMH [Member] | Other definite-lived intangible assets [Member]
Business Acquisition [Line Items]
Finite-lived intangible assets	$ 3,402
Reiten [Member]
Business Acquisition [Line Items]
Broadcast rights					$ 13
Property and equipment					8,139
FCC licenses					9,779
Goodwill					7,931
Total assets acquired					44,019
Less: Broadcast rights payable					(13)
Less: Accounts payable and accrued expenses					(8)
Net assets acquired					43,998
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					$ 2,073
KCWI [Member]
Business Acquisition [Line Items]
Accounts receivable				$ 380
Broadcast rights				1,740
Prepaid expenses and other current assets				40
Property and equipment				1,076
FCC licenses				2,180
Goodwill				367
Total assets acquired				5,785
Less: Broadcast rights payable				(1,886)
Less: Accounts payable and accrued expenses				(17)
Net assets acquired				3,882
KCWI [Member] | Other definite-lived intangible assets [Member]
Business Acquisition [Line Items]
Finite-lived intangible assets				$ 2

Acquisitions and Dispositions32

Acquisitions and Dispositions - Reiten - Additional Information (Details) $ in Thousands	Feb. 01, 2016USD ($)TelevisionStation	Sep. 30, 2015USD ($)	Sep. 30, 2016USD ($)	Sep. 30, 2015USD ($)	Sep. 30, 2016USD ($)	Sep. 30, 2016USD ($)	Sep. 30, 2015USD ($)	Dec. 31, 2015
Business Acquisition [Line Items]
Net revenue			$ 275,659	$ 223,031		$ 793,311	$ 644,115
Operating income (loss)			72,897	$ 48,315		$ 194,833	$ 138,761
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		$ 8,100
Operating income (loss)					$ 700
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) - USD ($)	Mar. 14, 2016	Oct. 24, 2014	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2016	Sep. 30, 2015
Business Acquisition [Line Items]
Net revenue			$ 275,659,000	$ 223,031,000		$ 793,311,000	$ 644,115,000
Operating income (loss)			72,897,000	$ 48,315,000		194,833,000	$ 138,761,000
KCWI [Member]
Business Acquisition [Line Items]
Purchase price of entities to be acquired	$ 3,900,000
Deposits and payments for acquisitions		$ 200,000
Acquisition related costs						$ 0
Acquisition date	Mar. 14, 2016
Net revenue			1,200,000		$ 2,000,000
Operating income (loss)			$ 1,100,000		$ 1,800,000

Acquisitions and Dispositions34

Acquisitions and Dispositions - Kixer - Additional Information (Details) - USD ($) $ in Thousands	Oct. 01, 2015	Sep. 30, 2016	Sep. 30, 2016	Dec. 31, 2015
Business Acquisition [Line Items]
Payments for Contingent Consideration			$ 2,000
Kixer [Member]
Business Acquisition [Line Items]
Acquisition date	Oct. 1, 2015
Maximum Earnout payment	$ 7,000
Payments for Contingent Consideration		$ 2,000
Fair value of remaining obligations, Earnout payment		$ 4,400	$ 4,400	$ 3,000

Acquisitions and Dispositions35

Acquisitions and Dispositions - Media General - Additional Information (Details)	3 Months Ended	9 Months Ended
	Sep. 30, 2016USD ($)TelevisionStation$ / shares	Sep. 30, 2016USD ($)TelevisionStation$ / shares	Jul. 27, 2016USD ($)	Jan. 27, 2016USD ($)$ / shares
Senior Subordinated Notes [Member] | 5.625 % Due 2024 [Member]
Business Acquisition [Line Items]
Debt instrument principal amount			$ 900,000,000
Interest rate	5.625%	5.625%	5.625%
Media General Future Acquisition [Member]
Business Acquisition [Line Items]
Outstanding equity acquired, price per share | $ / shares				$ 10.55
Purchase price of entities to be acquired				$ 2,300,000,000
Acquisition related costs	$ 900,000	$ 7,100,000
Acquired ownership interests percentage				66.00%
Minority shareholders ownership interests percentage				34.00%
Termination fee receivable from Media General on superior proposal				$ 80,000,000
Termination fee payable by company under certain circumstances				80,000,000
Maximum borrowing capacity				$ 4,700,000,000
Number of television stations owned by the acquiree to be sold | TelevisionStation	7	7
Number of television stations owned by the acquirer to be sold | TelevisionStation	6	6
Media General Future Acquisition [Member] | Future Sale to Graham Media Group, Inc. [Member]
Business Acquisition [Line Items]
Number of television stations to be sold | TelevisionStation	2	2
Selling price of entities to be sold	$ 120,000,000	$ 120,000,000
Media General Future Acquisition [Member] | Future Sale to Bayou City Broadcasting Lafayette, Inc. [Member]
Business Acquisition [Line Items]
Number of television stations to be sold | TelevisionStation	2	2
Selling price of entities to be sold	$ 40,000,000	$ 40,000,000
Media General Future Acquisition [Member] | Future Sale to Marquee Broadcasting, Inc.[Member]
Business Acquisition [Line Items]
Number of television stations to be sold | TelevisionStation	1	1
Selling price of entities to be sold	$ 350,000	$ 350,000
Media General Future Acquisition [Member] | Future Sale to Gray Television Group, Inc. [Member]
Business Acquisition [Line Items]
Number of television stations to be sold | TelevisionStation	2	2
Selling price of entities to be sold	$ 270,000,000	$ 270,000,000
Media General Future Acquisition [Member] | Future Sale to USA Television MidAmerican Holdings, LLC [Member]
Business Acquisition [Line Items]
Number of television stations to be sold | TelevisionStation	5	5
Selling price of entities to be sold	$ 115,000,000	$ 115,000,000
Media General Future Acquisition [Member] | Future Sale to Ramar Communications, Inc. [Member]
Business Acquisition [Line Items]
Number of television stations to be sold | TelevisionStation	1	1
Selling price of entities to be sold	$ 2,500,000	$ 2,500,000
Class A Common Stock [Member] | Media General Future Acquisition [Member]
Business Acquisition [Line Items]
Percentage of shares issued for each share outstanding				0.1249
Common stock market , price per share | $ / shares	$ 57.71	$ 57.71

Intangible Assets and Goodwil36

Intangible Assets and Goodwill - Intangible Assets Subject to Amortization (Details) - USD ($) $ in Thousands	9 Months Ended	12 Months Ended
	Sep. 30, 2016	Dec. 31, 2015
Finite-Lived Intangible Assets [Line Items]
Gross	$ 749,452	$ 699,513
Accumulated Amortization	(413,046)	(385,152)
Net	$ 336,406	$ 314,361
Network affiliation agreements [Member]
Finite-Lived Intangible Assets [Line Items]
Estimated useful life, in years	15 years	15 years
Gross	$ 659,054	$ 614,592
Accumulated Amortization	(350,693)	(338,016)
Net	308,361	276,576
Other definite-lived intangible assets [Member]
Finite-Lived Intangible Assets [Line Items]
Gross	90,398	84,921
Accumulated Amortization	(62,353)	(47,136)
Net	$ 28,045	$ 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 Goodwil37

Intangible Assets and Goodwill - Estimated Amortization Expense of Definite-Lived Intangible Assets (Details) - USD ($) $ in Thousands	Sep. 30, 2016	Dec. 31, 2015
Finite Lived Intangible Assets Future Amortization Expense Current And Five Succeeding Fiscal Years [Abstract]
Remainder of 2016	$ 11,599
2,017	41,614
2,018	30,865
2,019	28,224
2,020	24,910
2,021	24,697
Thereafter	174,497
Net	$ 336,406	$ 314,361

Intangible Assets and Goodwil38

Intangible Assets and Goodwill - Goodwill and FCC Licenses (Details) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2016	Dec. 31, 2015
Goodwill [Roll Forward]
Goodwill, Gross	$ 534,423	$ 497,653
Goodwill, Accumulated Impairment	(45,991)	(45,991)
Goodwill, Net	488,432	451,662
Goodwill Acquisitions and Consolidations of VIEs, Net	36,770
FCC Licenses [Abstract]
FCC Licenses, Gross	591,945	538,756
FCC Licenses, Accumulated Impairment	(49,421)	(49,421)
FCC Licenses, Net	542,524	$ 489,335
FCC Licenses Acquisitions and Consolidations of VIEs, Net	$ 53,189

Accrued Expenses - Accrued Expe

Accrued Expenses - Accrued Expenses (Details) - USD ($) $ in Thousands	Sep. 30, 2016	Dec. 31, 2015
Payables And Accruals [Abstract]
Compensation and related taxes	$ 25,005	$ 15,810
Network affiliation fees	24,634	22,324
Other	20,725	22,425
Accrued expenses	$ 70,364	$ 60,559

Debt - Long Term Debt (Details)

Debt - Long Term Debt (Details) - USD ($) $ in Thousands	Sep. 30, 2016	Dec. 31, 2015
Long term Debt [Abstract]
Debt	$ 2,348,170	$ 1,476,214
Less: current portion	(28,093)	(22,139)
Debt, noncurrent	2,320,077	1,454,075
Notes Payable to Banks [Member] | Term Loans [Member]
Long term Debt [Abstract]
Debt	668,696	682,223
Revolving loans [Member]
Long term Debt [Abstract]
Debt	2,000	2,000
Senior Subordinated Notes [Member] | 6.875 % Due 2020 [Member]
Long term Debt [Abstract]
Debt	520,467	519,777
Senior Subordinated Notes [Member] | 6.125% Due 2022 [Member]
Long term Debt [Abstract]
Debt	272,500	$ 272,214
Senior Subordinated Notes [Member] | 5.625 % Due 2024 [Member]
Long term Debt [Abstract]
Debt	$ 884,507

Debt - Long Term Debt (Parenthe

Debt - Long Term Debt (Parenthetical) (Details) - USD ($) $ in Thousands	Sep. 30, 2016	Jul. 27, 2016	Dec. 31, 2015
6.875 % Due 2020 [Member]
Long term Debt [Abstract]
Interest rate	6.875%
6.125% Due 2022 [Member]
Long term Debt [Abstract]
Interest rate	6.125%
Notes Payable to Banks [Member] | Term Loans [Member]
Long term Debt [Abstract]
Debt financing costs and discount	$ 7,126		$ 8,715
Senior Subordinated Notes [Member] | 6.875 % Due 2020 [Member]
Long term Debt [Abstract]
Debt financing costs and discount	$ 4,533		$ 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	$ 2,500		$ 2,786
Interest rate	6.125%		6.125%
Senior Subordinated Notes [Member] | 5.625 % Due 2024 [Member]
Long term Debt [Abstract]
Debt financing costs and discount	$ 15,493
Interest rate	5.625%	5.625%

Debt - Additional Information (

Debt - Additional Information (Details) - USD ($)	Jul. 27, 2016	Feb. 29, 2016	Sep. 30, 2016	Dec. 31, 2015
6.875 % Due 2020 [Member]
Debt Instrument [Line Items]
Interest rate			6.875%
6.125% Due 2022 [Member]
Debt Instrument [Line Items]
Interest rate			6.125%
Revolving loans [Member]
Debt Instrument [Line Items]
Proceeds from long-term debt		$ 58,000,000
Repayment of debt			$ 58,000,000
Available borrowing capacity			103,000,000
Notes Payable to Banks [Member] | Term Loans [Member]
Debt Instrument [Line Items]
Payment of contractual maturities under senior secured credit facilities			$ 15,100,000
Senior Subordinated Notes [Member] | 5.625 % Due 2024 [Member]
Debt Instrument [Line Items]
Debt instrument principal amount	$ 900,000,000
Interest rate	5.625%		5.625%
Frequency of periodic interest payments			semiannually
Maturity date	Aug. 1, 2024
Pre-funded Interest			$ 14,100,000
Debt finance costs			$ 15,800,000
Senior Subordinated Notes [Member] | 6.875 % Due 2020 [Member]
Debt Instrument [Line Items]
Interest rate			6.875%	6.875%
Senior Subordinated Notes [Member] | 6.125% Due 2022 [Member]
Debt Instrument [Line Items]
Interest rate			6.125%	6.125%

Debt - Fair Value of Debt (Deta

Debt - Fair Value of Debt (Details) - USD ($) $ in Thousands		Sep. 30, 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]	$ 668,696	$ 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]	674,070	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]	2,000	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]	1,984	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]	520,467	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]	544,525	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]	272,500	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]	284,625	$ 269,500
Senior Subordinated Notes [Member] | 5.625 % Due 2024 [Member] | Carrying Amount [Member] | Level 2 [Member]
Fair Value of debt [Line Items]
Carrying Amount and Fair Value of Debt	[2]	884,512
Senior Subordinated Notes [Member] | 5.625 % Due 2024 [Member] | Fair Value [Member] | Level 2 [Member]
Fair Value of debt [Line Items]
Carrying Amount and Fair Value of Debt	[2]	$ 909,000
[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 - Additi

FCC Regulatory Matters - Additional Information (Details)	May 31, 2016
Risks And Uncertainties [Abstract]
Maximum percentage of US television household reach	39.00%
Percentage reach of ultra high frequency station	50.00%

Commitments and Contingencies -

Commitments and Contingencies - Additional Information (Details) $ in Millions	Sep. 30, 2016USD ($)
Financial Guarantee of Mission Debt [Member]
Guarantees of Mission and Marshall Debt [Abstract]
Maximum commitment under senior secured credit facility	$ 232.2
Commitment under senior secured credit facility at carrying value	224.2
Financial Guarantee of Marshall Debt [Member]
Guarantees of Mission and Marshall Debt [Abstract]
Commitment under senior secured credit facility at carrying value	$ 54.5

Segment Data - Summary of Segme

Segment Data - Summary of Segment Financial Information (Details) - USD ($) $ in Thousands		3 Months Ended		9 Months Ended
		Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015	Dec. 31, 2015
Segment Reporting Information [Line Items]
Net revenue		$ 275,659	$ 223,031	$ 793,311	$ 644,115
Depreciation		12,877	13,076	38,174	35,250
Amortization of intangible assets		11,505	11,351	34,903	35,648
Income (loss) from operations		72,897	48,315	194,833	138,761
Goodwill		488,432		488,432		$ 451,662
Assets	[1]	2,920,696		2,920,696		1,835,134
Broadcasting [Member]
Segment Reporting Information [Line Items]
Net revenue		257,789	212,504	745,281	610,769
Depreciation		10,978	11,305	33,137	30,855
Amortization of intangible assets		8,175	8,405	24,838	27,719
Income (loss) from operations		89,511	63,214	248,493	181,895
Goodwill		449,735		449,735		412,965
Assets		1,815,566		1,815,566		1,660,737
Other [Member]
Segment Reporting Information [Line Items]
Net revenue		17,870	10,527	48,030	33,346
Depreciation		1,899	1,771	5,037	4,395
Amortization of intangible assets		3,330	2,946	10,065	7,929
Income (loss) from operations		(16,614)	$ (14,899)	(53,660)	$ (43,134)
Goodwill		38,697		38,697		38,697
Assets		$ 1,105,130		$ 1,105,130		$ 174,397
[1]	The consolidated total assets as of September 30, 2016 and December 31, 2015 include certain assets held by consolidated VIEs of $227.1 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 September 30, 2016 and December 31, 2015 include certain liabilities of consolidated VIEs of $38.0 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 - Additional Information (Details)	Sep. 30, 2016
6.875 % Due 2020 [Member]
Condensed Financial Statements Captions [Line Items]
Interest rate	6.875%
6.125% Due 2022 [Member]
Condensed Financial Statements Captions [Line Items]
Interest rate	6.125%

Condensed Consolidating Finan48

Condensed Consolidating Financial Information - Condensed Consolidated Balance Sheets (Details) - USD ($) $ in Thousands		Sep. 30, 2016	Dec. 31, 2015	Sep. 30, 2015	Dec. 31, 2014
Current assets:
Cash and cash equivalents		$ 29,256	$ 43,416	$ 23,356	$ 131,912
Accounts receivable, net		214,404	192,991
Other current assets		43,361	23,621
Total current assets		287,021	260,028
Property and equipment, net		283,600	266,583
Goodwill		488,432	451,662
FCC licenses		542,524	489,335
Other intangible assets, net		336,406	314,361
Restricted cash		900,402
Other noncurrent assets		82,311	53,165
Total assets	[1]	2,920,696	1,835,134
Current liabilities:
Current portion of debt		28,093	22,139
Accounts payable		25,388	25,936
Other current liabilities		127,669	97,986
Total current liabilities		181,150	146,061
Debt		2,320,077	1,454,075
Other noncurrent liabilities		151,868	148,625
Total liabilities	[1]	2,653,095	1,748,761
Total Nexstar Broadcasting Group, Inc. stockholders' equity (deficit)		152,468	80,674
Noncontrolling interests in consolidated variable interest entities		115,133	5,699
Total liabilities and stockholders' equity		2,920,696	1,835,134
Eliminations [Member]
Current assets:
Amounts due from consolidated entities		(90,621)	(62,578)
Total current assets		(90,621)	(62,578)
Investments in subsidiaries		(280,408)	(223,263)
Amounts due from consolidated entities		(62,360)	(133,659)
Property and equipment, net		(75)
Total assets		(433,464)	(419,500)
Current liabilities:
Amounts due to consolidated entities		(90,621)	(62,578)
Total current liabilities		(90,621)	(62,578)
Amounts due to consolidated entities		(62,570)	(133,659)
Total liabilities		(153,191)	(196,237)
Total Nexstar Broadcasting Group, Inc. stockholders' equity (deficit)		(280,273)	(223,263)
Total liabilities and stockholders' equity		(433,464)	(419,500)
Nexstar [Member] | Reportable Legal Entities [Member]
Current assets:
Investments in subsidiaries		242,149	184,332
Total assets		242,149	184,332
Current liabilities:
Amounts due to consolidated entities		62,570	63,309
Total liabilities		62,570	63,309
Total Nexstar Broadcasting Group, Inc. stockholders' equity (deficit)		179,579	121,023
Total liabilities and stockholders' equity		242,149	184,332
Nexstar Broadcasting [Member] | Reportable Legal Entities [Member]
Current assets:
Cash and cash equivalents		16,239	27,492	13,993	130,472
Accounts receivable, net		179,788	163,008
Amounts due from consolidated entities		21,188	10,600
Other current assets		39,038	19,984
Total current assets		256,253	221,084
Investments in subsidiaries		38,259	38,931
Amounts due from consolidated entities		62,360	133,659
Property and equipment, net		247,575	232,206
Goodwill		351,780	343,140
FCC licenses		427,733	415,024
Other intangible assets, net		229,911	228,936
Restricted cash		900,402
Other noncurrent assets		66,164	30,539
Total assets		2,580,437	1,643,519
Current liabilities:
Current portion of debt		19,759	15,154
Accounts payable		20,836	14,705
Amounts due to consolidated entities			47,700
Other current liabilities		104,150	78,868
Total current liabilities		144,745	156,427
Debt		2,049,671	1,177,944
Other noncurrent liabilities		127,677	118,048
Total liabilities		2,322,093	1,452,419
Total Nexstar Broadcasting Group, Inc. stockholders' equity (deficit)		258,344	191,100
Total liabilities and stockholders' equity		2,580,437	1,643,519
Mission [Member] | Reportable Legal Entities [Member]
Current assets:
Cash and cash equivalents		5,657	4,361	4,092	880
Accounts receivable, net		12,024	9,370
Amounts due from consolidated entities		69,433	51,978
Other current assets		1,645	1,364
Total current assets		88,759	67,073
Property and equipment, net		20,246	21,891
Goodwill		32,489	32,489
FCC licenses		41,563	41,563
Other intangible assets, net		17,076	18,892
Other noncurrent assets		14,797	20,418
Total assets		214,930	202,326
Current liabilities:
Current portion of debt		2,334	2,335
Accounts payable		1,324	906
Other current liabilities		6,481	6,909
Total current liabilities		10,139	10,150
Debt		221,880	223,235
Other noncurrent liabilities		10,127	9,351
Total liabilities		242,146	242,736
Total Nexstar Broadcasting Group, Inc. stockholders' equity (deficit)		(27,216)	(40,410)
Total liabilities and stockholders' equity		214,930	202,326
Non-Guarantors [Member] | Reportable Legal Entities [Member]
Current assets:
Cash and cash equivalents		7,360	11,563	$ 5,271	$ 560
Accounts receivable, net		22,592	20,613
Other current assets		2,678	2,273
Total current assets		32,630	34,449
Property and equipment, net		15,854	12,486
Goodwill		104,163	76,033
FCC licenses		73,228	32,748
Other intangible assets, net		89,419	66,533
Other noncurrent assets		1,350	2,208
Total assets		316,644	224,457
Current liabilities:
Current portion of debt		6,000	4,650
Accounts payable		3,228	10,325
Amounts due to consolidated entities		90,621	14,878
Other current liabilities		17,038	12,209
Total current liabilities		116,887	42,062
Debt		48,526	52,896
Amounts due to consolidated entities			70,350
Other noncurrent liabilities		14,064	21,226
Total liabilities		179,477	186,534
Total Nexstar Broadcasting Group, Inc. stockholders' equity (deficit)		22,034	32,224
Noncontrolling interests in consolidated variable interest entities		115,133	5,699
Total liabilities and stockholders' equity		$ 316,644	$ 224,457
[1]	The consolidated total assets as of September 30, 2016 and December 31, 2015 include certain assets held by consolidated VIEs of $227.1 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 September 30, 2016 and December 31, 2015 include certain liabilities of consolidated VIEs of $38.0 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 Finan49

Condensed Consolidating Financial Information - Condensed Consolidated Statements of Operations (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS [Abstract]
Net broadcast revenue (including trade and barter)	$ 275,659	$ 223,031	$ 793,311	$ 644,115
Net revenue	275,659	223,031	793,311	644,115
Operating expenses:
Direct operating expenses, excluding depreciation and amortization	100,744	78,551	283,802	219,618
Selling, general, and administrative expenses, excluding depreciation and amortization	63,602	56,426	197,539	170,272
Amortization of broadcast rights	14,034	15,312	44,060	44,566
Amortization of intangible assets	11,505	11,351	34,903	35,648
Depreciation	12,877	13,076	38,174	35,250
Total operating expenses	202,762	174,716	598,478	505,354
Income from operations	72,897	48,315	194,833	138,761
Interest expense, net	(29,622)	(20,396)	(70,853)	(60,080)
Other expenses	(126)	(115)	(409)	(383)
Income before income taxes	43,149	27,804	123,571	78,298
Income tax (expense) benefit	(17,533)	(10,649)	(50,882)	(29,331)
Net income (loss)	25,616	17,155	72,689	48,967
Net (income) loss attributable to noncontrolling interests	(817)	127	(1,634)	1,543
Net income attributable to Nexstar Broadcasting Group, Inc.	24,799	17,282	71,055	50,510
Eliminations [Member]
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS [Abstract]
Revenue between consolidated entities	(22,220)	(18,365)	(63,780)	(54,894)
Net revenue	(22,220)	(18,365)	(63,780)	(54,894)
Operating expenses:
Direct operating expenses, excluding depreciation and amortization	(39)		(112)
Selling, general, and administrative expenses, excluding depreciation and amortization	(1,737)	(1,159)	(4,042)	(3,060)
Local service agreement fees between consolidated entities	(20,444)	(17,206)	(59,626)	(51,834)
Total operating expenses	(22,220)	(18,365)	(63,780)	(54,894)
Equity in income of subsidiaries	(19,980)	(13,207)	(57,953)	(37,551)
Income before income taxes	(19,980)	(13,207)	(57,953)	(37,551)
Net income (loss)	(19,980)	(13,207)	(57,953)	(37,551)
Net income attributable to Nexstar Broadcasting Group, Inc.	(19,980)	(13,207)	(57,953)	(37,551)
Nexstar [Member] | Reportable Legal Entities [Member]
Operating expenses:
Equity in income of subsidiaries	19,980	13,207	57,953	37,551
Income before income taxes	19,980	13,207	57,953	37,551
Net income (loss)	19,980	13,207	57,953	37,551
Net income attributable to Nexstar Broadcasting Group, Inc.	19,980	13,207	57,953	37,551
Nexstar Broadcasting [Member] | Reportable Legal Entities [Member]
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS [Abstract]
Net broadcast revenue (including trade and barter)	232,326	189,789	669,762	547,110
Revenue between consolidated entities	8,628	6,455	25,800	19,362
Net revenue	240,954	196,244	695,562	566,472
Operating expenses:
Direct operating expenses, excluding depreciation and amortization	73,679	60,691	211,660	170,390
Selling, general, and administrative expenses, excluding depreciation and amortization	59,754	52,167	183,845	156,641
Local service agreement fees between consolidated entities	11,859	10,752	33,869	32,472
Amortization of broadcast rights	11,767	12,680	37,165	36,360
Amortization of intangible assets	6,735	7,002	20,592	22,589
Depreciation	11,317	11,735	33,737	31,286
Total operating expenses	175,111	155,027	520,868	449,738
Income from operations	65,843	41,217	174,694	116,734
Interest expense, net	(26,893)	(17,671)	(62,704)	(51,941)
Other expenses	(126)	(115)	(409)	(383)
Income before income taxes	38,824	23,431	111,581	64,410
Income tax (expense) benefit	(14,962)	(8,686)	(44,201)	(23,625)
Net income (loss)	23,862	14,745	67,380	40,785
Net income attributable to Nexstar Broadcasting Group, Inc.	23,862	14,745	67,380	40,785
Mission [Member] | Reportable Legal Entities [Member]
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS [Abstract]
Net broadcast revenue (including trade and barter)	15,541	13,425	45,786	37,773
Revenue between consolidated entities	10,383	8,873	29,209	26,780
Net revenue	25,924	22,298	74,995	64,553
Operating expenses:
Direct operating expenses, excluding depreciation and amortization	7,714	7,001	22,581	17,657
Selling, general, and administrative expenses, excluding depreciation and amortization	892	819	2,646	2,481
Local service agreement fees between consolidated entities	4,500	2,445	13,500	7,335
Amortization of broadcast rights	1,388	1,464	4,169	4,308
Amortization of intangible assets	605	605	1,816	1,812
Depreciation	598	617	1,805	1,829
Total operating expenses	15,697	12,951	46,517	35,422
Income from operations	10,227	9,347	28,478	29,131
Interest expense, net	(2,329)	(2,336)	(6,951)	(6,974)
Income before income taxes	7,898	7,011	21,527	22,157
Income tax (expense) benefit	(3,050)	(3,111)	(8,333)	(9,002)
Net income (loss)	4,848	3,900	13,194	13,155
Net income attributable to Nexstar Broadcasting Group, Inc.	4,848	3,900	13,194	13,155
Non-Guarantors [Member] | Reportable Legal Entities [Member]
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS [Abstract]
Net broadcast revenue (including trade and barter)	27,792	19,817	77,763	59,232
Revenue between consolidated entities	3,209	3,037	8,771	8,752
Net revenue	31,001	22,854	86,534	67,984
Operating expenses:
Direct operating expenses, excluding depreciation and amortization	19,390	10,859	49,673	31,571
Selling, general, and administrative expenses, excluding depreciation and amortization	4,693	4,599	15,090	14,210
Local service agreement fees between consolidated entities	4,085	4,009	12,257	12,027
Amortization of broadcast rights	879	1,168	2,726	3,898
Amortization of intangible assets	4,165	3,744	12,495	11,247
Depreciation	962	724	2,632	2,135
Total operating expenses	34,174	25,103	94,873	75,088
Income from operations	(3,173)	(2,249)	(8,339)	(7,104)
Interest expense, net	(400)	(389)	(1,198)	(1,165)
Income before income taxes	(3,573)	(2,638)	(9,537)	(8,269)
Income tax (expense) benefit	479	1,148	1,652	3,296
Net income (loss)	(3,094)	(1,490)	(7,885)	(4,973)
Net (income) loss attributable to noncontrolling interests	(817)	127	(1,634)	1,543
Net income attributable to Nexstar Broadcasting Group, Inc.	$ (3,911)	$ (1,363)	$ (9,519)	$ (3,430)

Condensed Consolidating Finan50

Condensed Consolidating Financial Information - Condensed Consolidating Statement of Cash Flows (Details) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS [Abstract]
Cash flows from operating activities	$ 162,994	$ 140,655
Cash flows from investing activities:
Purchases of property and equipment	(25,642)	(21,282)
Deposits and payments for acquisitions	(103,970)	(461,678)
Proceeds from sale of a station		26,805
Other investing activities	585	2,206
Net cash used in investing activities	(129,027)	(453,949)
Cash flows from financing activities:
Proceeds from long-term debt	58,000	416,950
Repayments of long-term debt	(73,115)	(151,518)
Common stock dividends paid	(22,078)	(17,870)
Payments for debt financing costs	(19,282)	(3,225)
Purchase of treasury stock		(48,660)
Excess tax benefit from stock option exercises	13,428	7,914
Other financing activities	(5,080)	5,836
Net cash (used in) provided by financing activities	(48,127)	204,738
Net decrease in cash and cash equivalents	(14,160)	(108,556)
Cash and cash equivalents at beginning of period	43,416	131,912
Cash and cash equivalents at end of period	29,256	23,356
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	(22,078)	(17,870)
Purchase of treasury stock		(48,660)
Inter-company payments	21,691	63,203
Other financing activities	387	3,327
Nexstar Broadcasting [Member] | Reportable Legal Entities [Member]
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS [Abstract]
Cash flows from operating activities	155,363	123,602
Cash flows from investing activities:
Purchases of property and equipment	(22,973)	(19,315)
Deposits and payments for acquisitions	(103,970)	(504,678)
Proceeds from sale of a station		70,105
Other investing activities	585	2,032
Net cash used in investing activities	(126,358)	(451,856)
Cash flows from financing activities:
Proceeds from long-term debt	58,000	414,950
Repayments of long-term debt	(68,214)	(142,391)
Payments for debt financing costs	(18,957)
Inter-company payments	(21,691)	(63,203)
Excess tax benefit from stock option exercises	13,428
Other financing activities	(2,824)	2,419
Net cash (used in) provided by financing activities	(40,258)	211,775
Net decrease in cash and cash equivalents	(11,253)	(116,479)
Cash and cash equivalents at beginning of period	27,492	130,472
Cash and cash equivalents at end of period	16,239	13,993
Mission [Member] | Reportable Legal Entities [Member]
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS [Abstract]
Cash flows from operating activities	3,532	10,085
Cash flows from investing activities:
Purchases of property and equipment	(160)	(138)
Other investing activities		150
Net cash used in investing activities	(160)	12
Cash flows from financing activities:
Repayments of long-term debt	(1,751)	(6,877)
Payments for debt financing costs	(325)
Other financing activities		(8)
Net cash (used in) provided by financing activities	(2,076)	(6,885)
Net decrease in cash and cash equivalents	1,296	3,212
Cash and cash equivalents at beginning of period	4,361	880
Cash and cash equivalents at end of period	5,657	4,092
Non-Guarantors [Member] | Reportable Legal Entities [Member]
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS [Abstract]
Cash flows from operating activities	4,099	6,968
Cash flows from investing activities:
Purchases of property and equipment	(2,509)	(2,005)
Deposits and payments for acquisitions		(300)
Other investing activities		200
Net cash used in investing activities	(2,509)	(2,105)
Cash flows from financing activities:
Proceeds from long-term debt		2,000
Repayments of long-term debt	(3,150)	(2,250)
Other financing activities	(2,643)	98
Net cash (used in) provided by financing activities	(5,793)	(152)
Net decrease in cash and cash equivalents	(4,203)	4,711
Cash and cash equivalents at beginning of period	11,563	560
Cash and cash equivalents at end of period	$ 7,360	$ 5,271

Subsequent Events - Additional

Subsequent Events - Additional Information (Details) - $ / shares	Oct. 20, 2016	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015
Subsequent Event [Line Items]
Dividends declared per common share		$ 0.24	$ 0.19	$ 0.72	$ 0.57
Class A Common Stock [Member] | Subsequent Event [Member]
Subsequent Event [Line Items]
Dividends declared per common share	$ 0.24
Dividends, date declared	Oct. 20, 2016
Dividends, date payable	Nov. 18, 2016
Dividends, date of record	Nov. 4, 2016