NextMedia Competes Sale of Eight Radio Stations to Wilks Broadcasting Group

NextMedia Competes Sale of Eight Radio Stations to Wilks Broadcasting Group

DENVER, Oct. 24 /PRNewswire/ -- NextMedia Group, Inc. ("NextMedia") announced today that its subsidiaries, NextMedia Operating, Inc. and NextMedia Licensing LLC, have completed the previously announced sale of four radio stations in Reno, Nevada and four radio stations in Lubbock, Texas to Wilks Broadcast Group LLC ("Wilks") for $34.0 million ($31.0 million in cash and a $3.0 million Subordinated Seller note).

The Lubbock stations included in the sale agreement were KMMX-FM 100.3, KLLL-FM 96.3, KONE-FM 101.1 and KBTE-FM 104.9. The Reno stations included in sale agreement were KJZS-FM 92.1, KRZQ-FM 100.9, KURK-FM 92.9 and KTHX-FM 100.1.

Michael Bergner of Bergner & Company served as the exclusive broker for this transaction.

About NextMedia

NextMedia Group, Inc. is a diversified out-of-home media company headquartered in Denver, Colorado. After giving effect to pending acquisitions and divestitures, NextMedia, through its subsidiaries and affiliates owns and operates 58 stations in 14 markets throughout the United States, and more than 5,200 bulletin and poster displays. Additionally, NextMedia owns advertising displays in more than 2,100 retail locations across the United States. Investors in NextMedia's ultimate parent company include Thomas Weisel Capital Partners, Alta Communications, Weston Presidio Capital and Goldman Sachs Capital Partners, as well as senior management. NextMedia was founded by veteran media executives Carl E. Hirsch, Executive Chairman, and Steven Dinetz, President and CEO.

Source: NextMedia Group, Inc.

CONTACT: Sean Stover, Chief Financial Officer of NextMedia Group, Inc., +1-303-694-9118; or Todd St. Onge, stonge@braincomm.com, or Kim Holt, holt@braincomm.com, both of Brainerd Communicators, Inc., +1-212-986-6667

Web site: http://www.nextmediaradio.com/

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