Acquisitions and Dispositions (Tables)

12 Months Ended

Dec. 31, 2022

Business Acquisition [Line Items]

Unaudited Pro Forma Information

Unaudited Pro Forma Financial Information

The following unaudited pro forma financial information has been presented for the periods indicated as if Nexstar’s acquisition of The CW had occurred on January 1, 2021 (in millions):

	Years Ended December 31,
	2022		2021
Net revenue	$	5,513.5	$	5,107.4
Income before income taxes		916.8		786.4
Net income		689.4		592.0
Net income attributable to Nexstar		781.4		690.4

2021 Acquisition of The Hill [Member]

Business Acquisition [Line Items]

Fair Values of Assets Acquired, Liabilities Assumed and Noncontrolling Interests

The fair values of the assets acquired and liabilities assumed are as follows (in millions):

Assets acquired
Cash and cash equivalents	$	7.7
Accounts receivable, net		8.2
Prepaid expenses and other current assets		0.3
Property and equipment		0.7
Goodwill		69.1
Other intangible assets		67.9
Other noncurrent assets		3.1
Total assets acquired		157.0
Accounts payable		(1.0	)
Accrued expenses		(2.2	)
Other current liabilities		(1.1	)
Deferred tax liabilities		(12.6	)
Other noncurrent liabilities		(2.4	)
Total Purchase Price	$	137.7

2022 Acquisition of The CW [Member]

Business Acquisition [Line Items]

Fair Values of Assets Acquired, Liabilities Assumed and Noncontrolling Interests

Subject to final determination, which is expected to occur within twelve months of the acquisition date, the provisional fair values of the assets acquired, liabilities assumed and the noncontrolling interests at the acquisition date are as follows (in millions):

Assets acquired
Cash and cash equivalents	$	28.9
Accounts receivable		56.3
Prepaid expenses and other current assets		3.0
Broadcast rights		123.6
Intangible assets		16.6
Other noncurrent assets		6.5
Total assets acquired		234.9
Liabilities assumed:
Accounts payable and accrued expenses		(25.6	)
Broadcast rights payable		(96.9	)
Deferred tax liabilities		(19.1	)
Other liabilities		(12.8	)
Total liabilities assumed		(154.4	)
Net assets acquired		80.5
Consideration paid		-
Noncontrolling interests		(24.9	)
Gain on bargain purchase	$	55.6