On July 19, 2012, U.S. broadcaster Nexstar entered into an agreement to purchase 12 TV stations owned by Newport Television Holdings for $285 million, concluding the company's strategic review process. We are placing our 'B' rating on the company on CreditWatch with positive implications. We are also placing all issue-level ratings on CreditWatch with positive implications. The CreditWatch listing reflects our current reassessment of the company's future business and financial risk profile, weighing its expanded station holdings and its pending refinancing. On Oct. 5, 2012, Standard&Poor's Ratings Services placed its 'B' rating on Texas-based TV broadcaster Nexstar Broadcasting Group Inc. on CreditWatch with positive implications. We also placed all issue-level ratings on CreditWatch with positive implications. We expect
