Irving-based TV Station Owner Nexstar Buys Digital Video Ad Firm for $90 Million

Irving-based Nexstar Media Group Inc. is buying a digital video advertising business for $90 million to serve its growing network of local television stations and websites. The acquisition of LKQD Technologies, based in Foothill Ranch, California, is expected to close later this year or early next year, according to Nexstar. Founded in 2014, LKQD's ad platform reaches 115 million online video viewers in the U.S. on desktop, mobile and connected TVs. Nexstar said the acquisition will enable its advertisters to better target customers in 100 U.S. markets. In Texas, Nexstar's markets include Midland, Odessa, Wichita Falls, Amarillo, Port Arthur, Texarkana, San Angelo, El Paso, Lubbock, Brownsville, Bryan, Abilene, Jacksonville and Waco.LKQD's co-founders Brian DeFrancesco and Christophe Clapp will continue to run the business as a division of Nexstar's digital subsidiary. DeFrancesco lauded the deal as allowing "small and mid-sized media publishers and businesses to maximize revenues across every available channel."Nexstar owns or operates 170 local TV stations, representing about 39 percent of all U.S. TV households. The company grew substantially earlier this year when it added 71 stations by acquiring Media General for $4.6 billion.  Continue reading...

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