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Nexstar unit prices senior notes offering

NexstarBroadcasting Group Inc. said July 13 that its unit Nexstar EscrowCorp. priced an offering of $900 million of 5.625% new senior notes due2024.

The sale of the notes, which were priced at 100% in aprivate offering, is expected to be completed on or about July 27, subject tocustomary closing conditions.

Net proceeds from the offering, along with borrowings, cashproceeds from asset divestiture and new common stock issuance, will be used tofund Nexstar's proposed acquisition of Media General Inc., to repay Nexstar credit facilities,repay existing Media General debt, and to pay other fees and expenses relatedto the Media General acquisition.