we sold the 13 stations previously owned or operated by tribune for $ 1.008 billion in cash , including working capital adjustments . we sold the eight stations that we previously owned for $ 358.6 million in cash , including working capital adjustments . these divestitures resulted in a net gain on disposal of $ 96.1 million . the cash consideration , the repayment of tribune debt , including premium and accrued interest , and the related fees and expenses were funded through a combination of cash on hand of nexstar and tribune , proceeds from the station divestitures , new term loan borrowings and the issuance of new notes ( see “ debt transactions ” below ) . see also note 3—acquisitions and dispositions and note 9—debt to our consolidated financial statements in part iv , item 15 ( a ) of this annual report on form 10-k for additional information about the merger and recently issued debt . 46 future acquisitions and dispositions on november 5 , 2019 , we entered into purchase and sale agreements with fox whereby we will purchase the fox affiliate wjzy and the mynetworktv affiliate wmyt in the charlotte , nc market from fox for approximately $ 45 million in cash , and will sell to fox the fox affiliate kcpq and the mynetworktv affiliate kzjo in the seattle , wa market , as well as the fox affiliate witi in the milwaukee , wi market , for approximately $ 350 million in cash , subject to customary adjustments . the transaction , which has received fcc approval , closed on march 2 , 2020. on january 14 , 2020 , we sold our sports betting information website business to star enterprises ltd. , a subsidiary of alto holdings , ltd. , for total cash consideration of $ 14.4 million . on january 27 , 2020 , we and sinclair agreed to settle the outstanding lawsuit between tribune and sinclair in connection with their terminated merger agreement . tribune is an entity acquired by nexstar in september 2019. as part of the resolution , sinclair has agreed to sell to us television station wdky-tv in the lexington , ky dma , subject to fcc approval and other customary conditions . sinclair has also sold to us certain non-license assets associated with television station kgbt-tv in the harlingen-weslaco-brownsville-mcallen , texas dma . we and sinclair have also modified an existing agreement regarding carriage of certain of sinclair 's digital networks by stations we acquired in connection with the tribune acquisition . finally , on january 28 , 2020 , sinclair made a cash payment to nexstar in an amount that represents the amount of $ 60.0 million plus the payments made or to be made by nexstar with respect to wdky and the kgbt non-license assets purchases . 2019 debt transactions on july 3 , 2019 , we completed the sale and issuance of our $ 1.120 billion 5.625 % notes due 2027. on september 19 , 2019 , we borrowed $ 3.065 billion in new term loan b , issued at 99.21 % , and $ 675.0 million in new term loan a , issued at 99.31 % . the proceeds from these transactions , plus proceeds from the sale of certain television station assets and cash on hand , were used to finance the purchase price of our merger with tribune and to pay the related fees and expenses . on november 22 , 2019 , we issued an additional $ 665.0 million aggregate principal amount of 5.625 % notes due 2027 at an offering price of 104.875 % , which resulted in a debt premium of $ 27.4 million after giving effect to certain fees relating thereto . the proceeds from the notes were used to redeem our $ 400.0 million aggregate principal amount of 5.875 % senior unsecured notes due 2022 ( the “ 5.875 % notes ” ) and our $ 275.0 million aggregate principal amount of 6.125 % senior unsecured notes due 2022 ( the “ 6.125 % notes ” ) . on november 29 , 2019 , mission paid the outstanding principal balances of marshall 's loans to third party bank lenders totaling $ 48.9 million , plus accrued and unpaid interest . after making the payment , mission became marshall 's new lender under the same marshall credit agreement . in 2019 , we prepaid a total of $ 180.0 million in principal balance under our term loan b , funded by cash on hand . through december 2019 , the company repaid scheduled maturities of $ 47.3 million under its term loan a and term loan b . 47 overview of operations as of december 31 , 2019 , we owned , operated , programmed or provided sales and other services to 197 full power television stations , including those owned by vies , in 115 markets in the states of alabama , arkansas , california , colorado , connecticut , district of columbia , florida , georgia , hawaii , illinois , indiana , iowa , kansas , louisiana , maryland , massachusetts , michigan , mississippi , missouri , montana , nevada , new mexico , new york , north carolina , north dakota , ohio , oklahoma , oregon , pennsylvania , rhode island , south carolina , south dakota , tennessee , texas , utah , vermont , virginia , washington , west virginia , and wisconsin . the stations are affiliates of abc , nbc , fox , cbs , the cw , mntv and other broadcast television networks . through various local service agreements , we provided sales , programming and other services to 36 full power television stations owned by independent third parties , of which 32 full power television stations are vies that are consolidated into our financial statements . story_separator_special_tag station direct operating expenses , consisting primarily of news , engineering , programming and selling , general and administrative expenses ( net of trade expense ) were $ 1.872 billion for the year ended december 31 , 2019 , compared to $ 1.570 billion for the same period in 2018 , an increase of $ 302.0 million , or 19.2 % . the increase was primarily due to expenses of our newly acquired stations and entities , mainly tribune , of $ 247.3 million ( including network and programming costs of $ 157.0 million ) , partially offset by a decrease of $ 18.0 million related to our station divestitures . additionally , our legacy stations ' programming costs increased by $ 96.6 million primarily due to network affiliation renewals and annual increases in our network affiliation costs . these increases were partially offset by an $ 18.6 million decrease in the operating expenses of our digital products due primarily to marketplace changes and challenges that led to lower revenue . depreciation of property and equipment was $ 123.4 million for the year ended december 31 , 2019 , compared to $ 109.8 million for the same period in 2018 , an increase of $ 13.6 million , or 12.4 % . this was primarily due to incremental depreciation related to assets acquired in the merger of $ 9.0 million and increased depreciation from related station repacking activities . amortization of intangible assets was $ 200.3 million for the year ended december 31 , 2019 , compared to $ 149.4 million for the same period in 2018 , an increase of $ 50.9 million , or 34.1 % . this was primarily due to increased amortization related to intangible assets acquired in the merger of $ 59.9 million , partially offset by decreases in amortization from certain fully amortized assets . 51 amortization of broadcast rights , excluding barter w as $ 85.0 million for the year ended december 31 , 2019 , compared to $ 61.3 million for the same period in 2018 , an increase of $ 23.7 million , or 38.6 % . this was primarily attributable to incremental amortization resulting from new broadcast rights acquired through the merger of $ 30 . 5 million . th is i ncrease w as partially offset by a reduction in amortization costs on our legacy stations due to renegotiation of certain film contracts which resulted in reduced distribution rates . certain of the company 's stations were assigned to new channels ( “ repack ” ) in connection with the fcc 's process of repurposing a portion of the broadcast television spectrum for wireless broadband use . the company 's stations are currently spending costs , mainly capital expenditures , to construct and license the necessary technical modifications to operate on their newly assigned channels and to vacate their former channels no later than july 13 , 2020. subject to fund limitations , the fcc reimburses television broadcasters , mvpds and other parties for costs reasonably incurred due to the repack . in 2019 and 2018 , we received a total of $ 70.4 million and $ 29.4 million , respectively , in reimbursements from the fcc which we recognized as operating income . in the third quarter of 2019 , we recorded a $ 63.3 million goodwill and intangible assets impairment on our digital reporting unit due to deterioration in customer relationships , mainly driven by marketplace changes on select demand-side platform customers , that led to a long-term projected decrease in operating results . in connection with the merger , we sold the assets of 21 full power television stations in 16 markets , eight of which were previously owned by us and 13 of which were previously owned and operated by tribune . we sold the tribune stations for $ 1.008 billion in cash , including working capital adjustments , and we sold our stations for $ 358.6 million in cash , including working capital adjustments . these divestitures resulted in a net gain on disposal of $ 96.1 million . income on equity investments , net in connection with our merger with tribune completed on september 19 , 2019 , we acquired a 31.3 % ownership stake in tv food network . from the date of acquisition to december 31 , 2019 , nexstar recognized equity in income from this investment of $ 20.5 million , along with loss from other equity method investments of $ 2.6 million . interest expense , net interest expense , net was $ 304.3 million for the year ended december 31 , 2019 , compared to $ 221.0 million for the same period in 2018 , an increase of $ 83.4 million , or 37.7 % , primarily due to interest on new borrowings of $ 87.0 million and one time fees associated with the financing of our merger with tribune of $ 26.6 million . these increases were partially offset by decreases in debt related interest expense of $ 23.7 million , primarily due to prepayments and scheduled repayments of term loans and redemption of bonds , and interest income we earned from an escrow deposit during the third quarter of 2019 of $ 4.9 million and a reduction in interest from our existing term loans due to principal prepayments and scheduled repayments . story_separator_special_tag style= `` background-color : # ffffff ; margin-top:10pt ; margin-bottom:0pt ; text-indent:5.15 % ; color : # 212529 ; font-family : times new roman ; font-size:10pt ; font-weight : normal ; font-style : normal ; text-transform : none ; font-variant : normal ; `` > corporate expenses , related to costs associated with the centralized management of our stations , were $ 110.9 million for the year ended december 31 , 2018 , compared to $ 138.4 million for the same period in 2017 , a decrease of $ 27.5 million , or 19.9 % . this was primarily attributable to a decrease

loss on extinguishment of debt loss on extinguishment of debt was $ 10.3 million for the year ended december 31 , 2019 , compared to $ 12.1 million for the same period in 2018 , a decrease of $ 1.8 million , or 15.0 % . in november 2019 , we redeemed our $ 400.0 million 5.875 % notes and our $ 275.0 million 6.125 % notes . we also made prepayments of our outstanding term loans during 2019. these transactions resulted in total loss on extinguishment of debt of $ 10.3 million . in october 2018 , the company refinanced its then existing term loans and revolving loans . we also made various prepayments of outstanding term loans during 2018. these transactions resulted in total loss on extinguishment of debt of $ 12.1 million . income taxes income tax expense was $ 137.0 million for the year ended december 31 , 2019 , compared to an income tax expense of $ 144.7 million for the same period in 2018 , a decrease in income tax expense of $ 7.7 million . the effective tax rates during the years ended december 31 , 2019 and 2018 were 36.8 % and 27.1 % , respectively . in 2019 , we recognized the tax impact of the divested stations previously owned by us including an income tax expense of $ 10.3 million , or an increase to the effective tax rate of 2.8 % , attributable to nondeductible goodwill written off as a result of the sale . we also recognized an impairment loss on our reporting unit 's goodwill and intangible assets ( see note 4 ) . the impairment loss related to goodwill is not deductible for purposes of calculating the tax provision resulting in an income tax expense of $ 8.9 million , or an increase to the effective tax rate of 2.4 % . valuation allowance increased by $ 19.9 million , or an increase to the effective tax rate of 5.3 % , primarily due to the company 's belief , based upon consideration of positive and negative evidence , that certain deferred tax assets related to one of the vies were not likely to be realized .


 Write a concise suspicious activity report of the following text delimited by triple backquotes. Return your response as a formal report which covers the key points highlighting the location,dates,entity names and account holder information in chronological order of the text.
     ```loss on extinguishment of debt loss on extinguishment of debt was $ 10.3 million for the year ended december 31 , 2019 , compared to $ 12.1 million for the same period in 2018 , a decrease of $ 1.8 million , or 15.0 % . in november 2019 , we redeemed our $ 400.0 million 5.875 % notes and our $ 275.0 million 6.125 % notes . we also made prepayments of our outstanding term loans during 2019. these transactions resulted in total loss on extinguishment of debt of $ 10.3 million . in october 2018 , the company refinanced its then existing term loans and revolving loans . we also made various prepayments of outstanding term loans during 2018. these transactions resulted in total loss on extinguishment of debt of $ 12.1 million . income taxes income tax expense was $ 137.0 million for the year ended december 31 , 2019 , compared to an income tax expense of $ 144.7 million for the same period in 2018 , a decrease in income tax expense of $ 7.7 million . the effective tax rates during the years ended december 31 , 2019 and 2018 were 36.8 % and 27.1 % , respectively . in 2019 , we recognized the tax impact of the divested stations previously owned by us including an income tax expense of $ 10.3 million , or an increase to the effective tax rate of 2.8 % , attributable to nondeductible goodwill written off as a result of the sale . we also recognized an impairment loss on our reporting unit 's goodwill and intangible assets ( see note 4 ) . the impairment loss related to goodwill is not deductible for purposes of calculating the tax provision resulting in an income tax expense of $ 8.9 million , or an increase to the effective tax rate of 2.4 % . valuation allowance increased by $ 19.9 million , or an increase to the effective tax rate of 5.3 % , primarily due to the company 's belief , based upon consideration of positive and negative evidence , that certain deferred tax assets related to one of the vies were not likely to be realized .
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 Suspicious Activity Report : we sold the 13 stations previously owned or operated by tribune for $ 1.008 billion in cash , including working capital adjustments . we sold the eight stations that we previously owned for $ 358.6 million in cash , including working capital adjustments . these divestitures resulted in a net gain on disposal of $ 96.1 million . the cash consideration , the repayment of tribune debt , including premium and accrued interest , and the related fees and expenses were funded through a combination of cash on hand of nexstar and tribune , proceeds from the station divestitures , new term loan borrowings and the issuance of new notes ( see “ debt transactions ” below ) . see also note 3—acquisitions and dispositions and note 9—debt to our consolidated financial statements in part iv , item 15 ( a ) of this annual report on form 10-k for additional information about the merger and recently issued debt . 46 future acquisitions and dispositions on november 5 , 2019 , we entered into purchase and sale agreements with fox whereby we will purchase the fox affiliate wjzy and the mynetworktv affiliate wmyt in the charlotte , nc market from fox for approximately $ 45 million in cash , and will sell to fox the fox affiliate kcpq and the mynetworktv affiliate kzjo in the seattle , wa market , as well as the fox affiliate witi in the milwaukee , wi market , for approximately $ 350 million in cash , subject to customary adjustments . the transaction , which has received fcc approval , closed on march 2 , 2020. on january 14 , 2020 , we sold our sports betting information website business to star enterprises ltd. , a subsidiary of alto holdings , ltd. , for total cash consideration of $ 14.4 million . on january 27 , 2020 , we and sinclair agreed to settle the outstanding lawsuit between tribune and sinclair in connection with their terminated merger agreement . tribune is an entity acquired by nexstar in september 2019. as part of the resolution , sinclair has agreed to sell to us television station wdky-tv in the lexington , ky dma , subject to fcc approval and other customary conditions . sinclair has also sold to us certain non-license assets associated with television station kgbt-tv in the harlingen-weslaco-brownsville-mcallen , texas dma . we and sinclair have also modified an existing agreement regarding carriage of certain of sinclair 's digital networks by stations we acquired in connection with the tribune acquisition . finally , on january 28 , 2020 , sinclair made a cash payment to nexstar in an amount that represents the amount of $ 60.0 million plus the payments made or to be made by nexstar with respect to wdky and the kgbt non-license assets purchases . 2019 debt transactions on july 3 , 2019 , we completed the sale and issuance of our $ 1.120 billion 5.625 % notes due 2027. on september 19 , 2019 , we borrowed $ 3.065 billion in new term loan b , issued at 99.21 % , and $ 675.0 million in new term loan a , issued at 99.31 % . the proceeds from these transactions , plus proceeds from the sale of certain television station assets and cash on hand , were used to finance the purchase price of our merger with tribune and to pay the related fees and expenses . on november 22 , 2019 , we issued an additional $ 665.0 million aggregate principal amount of 5.625 % notes due 2027 at an offering price of 104.875 % , which resulted in a debt premium of $ 27.4 million after giving effect to certain fees relating thereto . the proceeds from the notes were used to redeem our $ 400.0 million aggregate principal amount of 5.875 % senior unsecured notes due 2022 ( the “ 5.875 % notes ” ) and our $ 275.0 million aggregate principal amount of 6.125 % senior unsecured notes due 2022 ( the “ 6.125 % notes ” ) . on november 29 , 2019 , mission paid the outstanding principal balances of marshall 's loans to third party bank lenders totaling $ 48.9 million , plus accrued and unpaid interest . after making the payment , mission became marshall 's new lender under the same marshall credit agreement . in 2019 , we prepaid a total of $ 180.0 million in principal balance under our term loan b , funded by cash on hand . through december 2019 , the company repaid scheduled maturities of $ 47.3 million under its term loan a and term loan b . 47 overview of operations as of december 31 , 2019 , we owned , operated , programmed or provided sales and other services to 197 full power television stations , including those owned by vies , in 115 markets in the states of alabama , arkansas , california , colorado , connecticut , district of columbia , florida , georgia , hawaii , illinois , indiana , iowa , kansas , louisiana , maryland , massachusetts , michigan , mississippi , missouri , montana , nevada , new mexico , new york , north carolina , north dakota , ohio , oklahoma , oregon , pennsylvania , rhode island , south carolina , south dakota , tennessee , texas , utah , vermont , virginia , washington , west virginia , and wisconsin . the stations are affiliates of abc , nbc , fox , cbs , the cw , mntv and other broadcast television networks . through various local service agreements , we provided sales , programming and other services to 36 full power television stations owned by independent third parties , of which 32 full power television stations are vies that are consolidated into our financial statements . story_separator_special_tag station direct operating expenses , consisting primarily of news , engineering , programming and selling , general and administrative expenses ( net of trade expense ) were $ 1.872 billion for the year ended december 31 , 2019 , compared to $ 1.570 billion for the same period in 2018 , an increase of $ 302.0 million , or 19.2 % . the increase was primarily due to expenses of our newly acquired stations and entities , mainly tribune , of $ 247.3 million ( including network and programming costs of $ 157.0 million ) , partially offset by a decrease of $ 18.0 million related to our station divestitures . additionally , our legacy stations ' programming costs increased by $ 96.6 million primarily due to network affiliation renewals and annual increases in our network affiliation costs . these increases were partially offset by an $ 18.6 million decrease in the operating expenses of our digital products due primarily to marketplace changes and challenges that led to lower revenue . depreciation of property and equipment was $ 123.4 million for the year ended december 31 , 2019 , compared to $ 109.8 million for the same period in 2018 , an increase of $ 13.6 million , or 12.4 % . this was primarily due to incremental depreciation related to assets acquired in the merger of $ 9.0 million and increased depreciation from related station repacking activities . amortization of intangible assets was $ 200.3 million for the year ended december 31 , 2019 , compared to $ 149.4 million for the same period in 2018 , an increase of $ 50.9 million , or 34.1 % . this was primarily due to increased amortization related to intangible assets acquired in the merger of $ 59.9 million , partially offset by decreases in amortization from certain fully amortized assets . 51 amortization of broadcast rights , excluding barter w as $ 85.0 million for the year ended december 31 , 2019 , compared to $ 61.3 million for the same period in 2018 , an increase of $ 23.7 million , or 38.6 % . this was primarily attributable to incremental amortization resulting from new broadcast rights acquired through the merger of $ 30 . 5 million . th is i ncrease w as partially offset by a reduction in amortization costs on our legacy stations due to renegotiation of certain film contracts which resulted in reduced distribution rates . certain of the company 's stations were assigned to new channels ( “ repack ” ) in connection with the fcc 's process of repurposing a portion of the broadcast television spectrum for wireless broadband use . the company 's stations are currently spending costs , mainly capital expenditures , to construct and license the necessary technical modifications to operate on their newly assigned channels and to vacate their former channels no later than july 13 , 2020. subject to fund limitations , the fcc reimburses television broadcasters , mvpds and other parties for costs reasonably incurred due to the repack . in 2019 and 2018 , we received a total of $ 70.4 million and $ 29.4 million , respectively , in reimbursements from the fcc which we recognized as operating income . in the third quarter of 2019 , we recorded a $ 63.3 million goodwill and intangible assets impairment on our digital reporting unit due to deterioration in customer relationships , mainly driven by marketplace changes on select demand-side platform customers , that led to a long-term projected decrease in operating results . in connection with the merger , we sold the assets of 21 full power television stations in 16 markets , eight of which were previously owned by us and 13 of which were previously owned and operated by tribune . we sold the tribune stations for $ 1.008 billion in cash , including working capital adjustments , and we sold our stations for $ 358.6 million in cash , including working capital adjustments . these divestitures resulted in a net gain on disposal of $ 96.1 million . income on equity investments , net in connection with our merger with tribune completed on september 19 , 2019 , we acquired a 31.3 % ownership stake in tv food network . from the date of acquisition to december 31 , 2019 , nexstar recognized equity in income from this investment of $ 20.5 million , along with loss from other equity method investments of $ 2.6 million . interest expense , net interest expense , net was $ 304.3 million for the year ended december 31 , 2019 , compared to $ 221.0 million for the same period in 2018 , an increase of $ 83.4 million , or 37.7 % , primarily due to interest on new borrowings of $ 87.0 million and one time fees associated with the financing of our merger with tribune of $ 26.6 million . these increases were partially offset by decreases in debt related interest expense of $ 23.7 million , primarily due to prepayments and scheduled repayments of term loans and redemption of bonds , and interest income we earned from an escrow deposit during the third quarter of 2019 of $ 4.9 million and a reduction in interest from our existing term loans due to principal prepayments and scheduled repayments . story_separator_special_tag style= `` background-color : # ffffff ; margin-top:10pt ; margin-bottom:0pt ; text-indent:5.15 % ; color : # 212529 ; font-family : times new roman ; font-size:10pt ; font-weight : normal ; font-style : normal ; text-transform : none ; font-variant : normal ; `` > corporate expenses , related to costs associated with the centralized management of our stations , were $ 110.9 million for the year ended december 31 , 2018 , compared to $ 138.4 million for the same period in 2017 , a decrease of $ 27.5 million , or 19.9 % . this was primarily attributable to a decrease

