Nexstar reports that nearly $187 million of its $191.5 million outstanding of 7% senior subordinated notes due 2014 were tendered in an offer to exchange them for 7% senior subordinated PIK notes due 2014 and a cash payment. The notes tendered exceeded the Nexstar offer to exchange up to $143.6 million worth, so the exchange will be pro rated. That tally was as of the early participation date and more notes could be tendered by the final cutoff of March 26th.
