Effective 1/2, listing of the company’s common stock will be transferred to the NASDAQ Global Select Market, the highest of the three market tiers at NASDAQ. Nexstar shares previously traded on the NASDAQ Global Market and, following transfer to the NASDAQ Global Select Market, will continue to trade under the ticker symbol NXST.
NASDAQ-listed companies are classified under three listing tiers: NASDAQ Global Select Market, NASDAQ Global Market, and NASDAQ Capital Market. Listing on the NASDAQ Global Select Market is reserved for companies that meet the highest quantitative and qualitative listing standards, reflecting their demonstrated commitments to leadership and good governance.
Said Perry Sook, Nexstar CEO: “We are honored to be added to NASDAQ’s Global Select Market based on meeting NASDAQ’s rigorous qualification and listing criteria. Since our initial public offering just over ten years ago, Nexstar has grown from 42 stations that it owned, operated, programmed and provided services to 108 stations once we complete all pending transactions. During this period we have consistently enhanced the operating results of acquired stations as reflected by our long-term record of free cash flow growth on a two year cycle. We look forward to completing several previously announced transactions in early 2014 and to further enhancing value for our shareholders.”