The ratings on Irving, Texas-based Nexstar Broadcasting Group LLC reflect the financial risk from aggressive debt-financed acquisition activity, potential for future station purchases, and mature revenue growth prospects in the competitive television advertising environment. These factors are somewhat offset by the company's cash-flow diversity from major network-affiliated television stations in small and midsize markets, the stations' decent positions in most markets, good discretionary cash flow potential of the broadcasting business, and cash flow improvement at acquired stations. Including pending acquisitions, Nexstar owns and operates 16 television stations and provides management and sales services to an additional eight stations in small and midsize markets, reaching about 3.5% of US television households. Nexstar's local news programs are ranked number one or number
