Nexstar Media Group and NBC Television Network renew long-term affiliation agreements
IRVING, Texas – (COMMERCIAL THREAD) – Nexstar Media Group, Inc. (Nasdaq: NXST) (“Nexstar”) today announced that Nexstar Inc. and its operating partners have reached agreements to renew existing affiliations with the NBC television network on 33 markets (29 Nexstar and 4 partners belonging to) across the country.
Commenting on the deal, Tom Carter, President, COO and CFO of Nexstar said, “We are delighted to further extend our partnership with NBC for the long term. Our new affiliate agreements recognize the value of the network’s news, sports and entertainment programming and reflect the importance of our stations to NBC and to viewers in the local communities we serve.
“NBC’s strong programming, including Today and NBC Nightly News with Lester Holt, prime-time hits such as It’s us and The voice, favorite comedies like Saturday Night Live, and popular live sports including NBC Sunday Night Football and the upcoming Tokyo Olympics are a great complement to high quality local news and exclusive content produced by our stations. Together, Nexstar and NBC provide a great value proposition for our viewers and a great advertising platform for our local and national clients.
“We are delighted to renew our affiliation with Nexstar Media Group to serve these 33 markets,” said Philip Martzolf, President, NBC Affiliate Relations. “We have a strong partnership with Nexstar and look forward to our continued collaboration to bring NBC programming to millions of homes across the country.”
About Nexstar Media Group, Inc.
Nexstar Media Group (NASDAQ: NXST) is a leading diversified media company leveraging localism to bring new services and value to consumers and advertisers through its traditional, digital and mobile media platforms. Its wholly owned operating subsidiary, Nexstar Inc., is made up of three divisions: Broadcasting, Digital and Networks. The Broadcasting Division operates, schedules or provides sales and other services to 198 television stations and related digital multicast signals reaching 116 markets or approximately 39% of all U.S. television households (reflecting the UHF discount of the FCC). The division’s portfolio includes the main subsidiaries of NBC, CBS, ABC, FOX, MyNetworkTV and The CW. The digital division operates 122 local websites and 316 mobile apps delivering hyper-local content and verticals for consumers and advertisers, allowing audiences to choose where, when and how to access content and creating new revenue opportunities for the company. The Networks division operates WGN America, a growing national cable general entertainment network and the headquarters of NewsNation, Antenna TV multicast network and WGN Radio in Chicago. Nexstar also owns a 31.3% stake in TV Food Network, a leading cable asset. For more information, please visit www.nexstar.tv.
This communication includes forward-looking statements. We have based these forward-looking statements on our current expectations and projections regarding future events. Forward-looking statements include information preceded, followed by or that includes the words “guidance”, “belief”, “expects”, “anticipates”, “could” or similar expressions. For these statements, Nexstar claims safe harbor protection for the forward-looking statements contained in the Private Securities Litigation Reform Act of 1995. The forward-looking statements contained in this communication, concerning, among other things, future financial performance, including changes net income, cash flow and operating expenses, involve risks and uncertainties, and are subject to change depending on various important factors, including the impact of changes in national and regional economies, capacity of service and refinancing of our outstanding debt, the successful integration of acquired television stations and digital businesses (including the realization of synergies and cost reductions), fluctuations in local and national advertising prices, future regulatory measures and conditions in the operating areas of television stations, competition from others in the television broadcasting markets, volatility of programming costs, effects of government regulation of b roadcasting, industry consolidation, technological developments and major global news events. Nexstar assumes no obligation to update or revise forward-looking statements, whether as a result of new information, future events or otherwise. In light of these risks, uncertainties and assumptions, the forward-looking events referred to in this communication may not occur. You should not place undue reliance on these forward-looking statements, which speak only as of the date of this press release. For more details on the factors that could affect these expectations, please see other documents filed by Nexstar with the Securities and Exchange Commission.