Nexstar Broadcasting and Charter Communications Reach New Distribution Agreement Covering Fifteen Markets
January 01 2015 - 6:00PM
Business Wire
Charter Communications Subscribers Across
the Nexstar Platform Retain Uninterrupted Access to Network and
Local Programming
Nexstar Broadcasting Group, Inc. (Nasdaq: NXST) (“Nexstar”)
announced today that it reached a new distribution agreement with
Charter Communications, Inc. ("Charter") (NASDAQ: CHTR) allowing
the cable television provider the right to continue to air
Nexstar’s highly rated programming. The new agreement was reached
before the expiration of the prior agreement at 11:59 p.m. ET last
night (December 31, 2014) enabling Charter subscribers in fifteen
markets to enjoy uninterrupted access to network, local news and
other programming.
Nexstar is delighted that Charter Communications subscribers in
its markets will have uninterrupted access to leading network
content from NBC, CBS, ABC, FOX, MyNetworkTV, The CW, and Telemundo
as well as local news and other programming produced specifically
for local communities. Nexstar is also proud of the fact that no
material service interruptions related to distribution agreements
have occurred with its station group since 2005.
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
Neuman, 212-835-8500nxst@jcir.com
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