Dish Network Subscribers in 60 Markets May Lose Network and Local Community Programming Tomorrow Night
December 04 2014 - 7:04PM
Business Wire
60 Stations Potentially Affected as DISH Has
Yet to Reach Distribution Agreement with Nexstar
Broadcasting
Nexstar Broadcasting Group, Inc. (Nasdaq:NXST) (“Nexstar”)
announced today that DISH Network, L.L.C. ("DISH Network")
(NASDAQ:DISH) subscribers in 60 markets are at risk of losing
network and local community programming at 11:59 p.m. ET tomorrow
night as DISH Network has yet to reach a new distribution agreement
allowing the satellite television provider the right to continue to
air Nexstar’s highly rated programming. For over a month, Nexstar
has been negotiating in good faith to establish a mutually
agreeable contract with DISH.
The development is highly unusual for Nexstar but more common
for DISH Network. Nexstar has established a long-term record of
completing hundreds of agreements with cable, satellite providers
and telecom companies for the carriage of its programming and is
proud of the fact that it has had no material service interruptions
related to distribution agreements since 2005. In contrast, DISH
Network is routinely involved in disputes with content providers
and in the last two years alone has dropped over 120 stations as a
result of its inability to agree to fair and reasonable terms to
carry some of the most highly rated programming on television.
Nexstar is committed to consistently elevating the level of
service provided to local communities in the markets it serves
across the United States by making meaningful capital investments
to expand local news, lifestyle, sports, weather and other
programming and enhancing station infrastructure, production
resources and technologies. Nexstar regrets that DISH Network is
willing to hold its paying subscribers hostage because it won’t
agree to fair and reasonable terms for viewers’ favorite
programming.
In the affected markets Nexstar broadcasts leading network
content from NBC, CBS, ABC, FOX, MyNetworkTV, The CW, Telemundo,
Bounce TV, Me-TV, and LATV as well as local news and other
programming produced specifically for local communities. Viewers in
markets affected by the potential black-out have several
alternatives to continue to watch their favorite programming
including local cable providers, DirectTV, over-the-air, and
services including Verizon’s FIOS and AT&T U-verse.
While Nexstar remains hopeful that a resolution can be reached
today, should DISH Network fail to come to terms with Nexstar,
Nexstar intends to actively educate consumers in affected markets
on how they can continue to receive their favorite network
programming, in-depth local news, other content and programming
relevant to their communities, and critical updates in times of
emergencies.
About Nexstar Broadcasting Group, Inc.
Nexstar Broadcasting Group is a leading diversified media
company that leverages localism to bring new services and value to
consumers and advertisers through its traditional media, digital
and mobile media platforms. Nexstar owns, operates, programs or
provides sales and other services to 80 television stations and 20
related digital multicast signals reaching 46 markets or
approximately 13.1% of all U.S. television households. Nexstar’s
portfolio includes affiliates of NBC, CBS, ABC, FOX, MyNetworkTV,
The CW, Telemundo, Bounce TV, Me-TV, and LATV. Nexstar’s 48
community portal websites offer additional hyper-local content and
verticals for consumers and advertisers, allowing audiences to
choose where, when and how they access content while creating new
revenue opportunities.
Pro-forma for the completion of all announced transactions
Nexstar will own, operate, program or provides sales and other
services to 110 television stations and related digital multicast
signals reaching 58 markets or approximately 18.0% of all U.S.
television households.
Forward-Looking Statements
This news release includes forward-looking statements. We have
based these forward-looking statements on our current expectations
and projections about future events. Forward-looking statements
include information preceded by, followed by, or that includes the
words "guidance," "believes," "expects," "anticipates," "could," or
similar expressions. For these statements, the Company claims the
protection of the safe harbor for forward-looking statements
contained in the Private Securities Litigation Reform Act of 1995.
The forward-looking statements contained in this news release,
concerning, among other things, changes in net revenue, cash flow
and operating expenses, involve risks and uncertainties, and are
subject to change based on various important factors, including the
impact of changes in national and regional economies, our ability
to service and refinance our outstanding debt, successful
integration of acquired television stations (including achievement
of synergies and cost reductions), pricing fluctuations in local
and national advertising, future regulatory actions and conditions
in the television stations' operating areas, competition from
others in the broadcast television markets served by the Company,
volatility in programming costs, the effects of governmental
regulation of broadcasting, industry consolidation, technological
developments and major world news events. Unless required by law,
we undertake no obligation to update or revise any 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 discussed in this news
release might not occur. You should not place undue reliance on
these forward-looking statements, which speak only as of the date
of this release. For more details on factors that could affect
these expectations, please see our filings with the Securities and
Exchange Commission.
Nexstar Broadcasting Group, Inc.Thomas E. Carter,
972-373-8800Chief Financial OfficerorJCIRJoseph Jaffoni/Jennifer
Neuman212-835-8500nxst@jcir.com
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