Nexstar Broadcasting and CBS Enter into Affiliation Agreement Renewals
June 17 2015 - 12:15PM
Business Wire
Agreement Extends Affiliation for 5 CBS
Affiliated Television Stations Owned or Operated by Nexstar
Nexstar Broadcasting Group, Inc. (Nasdaq:NXST) today announced a
long-term affiliation agreement with the CBS Television Network
which covers four of its owned stations including KGPE-TV in
Fresno, CA; KREX-TV in Grand Junction, CO; KLAS-TV in Las Vegas, NV
and WTAJ-TV in Altoona, PA. In addition, Mission Broadcasting, Inc.
entered into a new agreement for WYOU-TV in Wilkes-Barre Scranton,
PA.
Commenting on the agreement, Nexstar Broadcasting Group
President and CEO, Perry A. Sook said, “We are delighted to extend
our affiliation agreement with CBS in these markets. We recognize
the value that the strong slate of CBS programming brings to our
stations. Hits, including The Big Bang Theory, The Good Wife, NCIS
and Elementary; highly-anticipated new Fall series, including
Supergirl and Code Black; award-winning news and information
series, including 48 Hours Mystery and 60 Minutes; the highly
anticipated The Late Show with Stephen Colbert and exciting sports
programming, including NCAA and NFL Thursday Night Football/
Superbowl 50, complement the high quality local news and other
exclusive local content produced by Nexstar and allow us to deliver
great entertainment and information to viewers and an excellent
platform for marketing solutions for local and national
advertisers.”
“We are very pleased to extend our affiliation with Nexstar and
Mission in five key markets and happy they recognize the value our
programming brings to their business,” said Ray Hopkins, President
of Network Distribution for the CBS Television
Network. “Nexstar has a proven record of providing local
viewers with high-quality programming and strong community support
and we look forward to reaching these audiences and continuing our
long-time collaboration with Perry and his local teams for years to
come.”
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 107 television stations and
related digital multicast signals reaching 58 markets or
approximately 18.0% 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 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.
About CBS Corporation
CBS Corporation (NYSE: CBS.A and CBS) is a mass media company
that creates and distributes industry-leading content across a
variety of platforms to audiences around the world. The Company has
businesses with origins that date back to the dawn of the
broadcasting age as well as new ventures that operate on the
leading edge of media. CBS owns the most-watched television network
in the U.S. and one of the world’s largest libraries of
entertainment content, making its brand – “the Eye” – one of the
most recognized in business. The Company’s operations span
virtually every field of media and entertainment, including cable,
publishing, radio, local TV, film, outdoor advertising, and
interactive and socially responsible media. CBS’s businesses
include CBS Television Network, The CW (a joint venture between CBS
Corporation and Warner Bros. Entertainment), Showtime Networks, CBS
Sports Network, TVGN (a joint venture between CBS Corporation and
Lionsgate), Smithsonian Networks, Simon & Schuster, CBS
Television Stations, CBS Radio, CBS Outdoor, CBS Television
Studios, CBS Global Distribution Group (CBS Studios International
and CBS Television Distribution), CBS Interactive, CBS Consumer
Products, CBS Home Entertainment, CBS Films and CBS EcoMedia. For
more information, go to www.cbscorporation.com.
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.
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version on businesswire.com: http://www.businesswire.com/news/home/20150617006063/en/
Nexstar Broadcasting Group, Inc.Thomas E. Carter,
972-373-8800Chief Financial OfficerorJCIRJoseph Jaffoni, Jennifer
Neuman212-835-8500 or nxst@jcir.comorCBS:Dana McClintock,
212-975-1077dlmcclintock@CBS.comorKelli
Rafterykelli.raftery@cbs.com
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