Nexstar Media Group and ABC Television Network Extend Network Affiliation Agreements for All Nexstar Stations Through 2022
June 01 2017 - 7:04AM
Business Wire
Nexstar and ABC Also Enter into Over-the-Top
Digital Distribution Agreements
Nexstar Media Group, Inc. (Nasdaq:NXST) (the “Company”)
announced today that it entered into a long-term affiliation
agreement with ABC Television Network (“ABC”) covering 24 of its
owned or operated stations through December 31, 2022. In addition,
the Company has reached an over-the-top (“OTT”) master agreement
with ABC, for new internet-delivered programming services from
DirecTV Now, Sony PlayStation Vue, YouTube TV, CenturyLink and
ABC's TV Everywhere. Separately ABC Television Network extended the
affiliation agreements for six stations owned by Mission
Broadcasting, Inc., one station owned by Shield Media and two
stations owned by Vaughn Media and these nine stations have also
entered into an over-the-top (“OTT”) master agreement with ABC.
Perry A. Sook, Nexstar Media Group, Inc. Chairman, President and
CEO stated, “We are delighted to reach this long-term extension of
our affiliation agreements and forge OTT digital distribution
agreements with ABC in a manner that mutually recognizes the value
of our respective content offerings. As Nexstar grows, we continue
to raise our commitment to support the evolving needs of the
viewers, businesses and local communities that we serve each day by
working with our network partners and distributors to deliver our
content anywhere, anytime and on any device. The combination of
Nexstar’s unique, locally-produced news programming and content
married with ABC’s marquee national content and access to these new
and emerging digital distribution platforms is an unbeatable value
proposition. Our new agreement with ABC supports our goals for
delivering great entertainment and information to viewers and an
effective multiplatform marketing solutions for local and national
brands and advertisers while creating a new revenue stream for
Nexstar related to the OTT master agreement.”
“We are very pleased to extend our affiliation with Nexstar in
key markets and launch digital distribution services across their
ABC-affiliated stations, while maintaining the value and integrity
of our long-standing partnership,” said John Rouse, Executive Vice
President ABC Affiliate Relations and Marketing. “Nexstar has
consistently delivered strong local programming and community
service, which has complemented ABC’s leading network news,
primetime and sports programming. Our companies share a common
goal of strengthening our audiences, advertisers and revenues and
our new agreement with Nexstar is important to our mutual
efforts.”
About Nexstar Media Group, Inc.
Nexstar Media 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 170 television stations and related digital
multicast signals reaching 100 markets or nearly 39% of all U.S.
television households. Nexstar’s portfolio includes primary
affiliates of NBC, CBS, ABC, FOX, MyNetworkTV and The CW. 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. For more information please visit
www.nexstar.tv.
Forward-Looking Statements
This communication 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, Nexstar 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 communication,
concerning, among other things, future financial performance,
including 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, the ability to service and
refinance our outstanding debt, successful integration of acquired
television stations and digital businesses (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, volatility in
programming costs, the effects of governmental regulation of
broadcasting, industry consolidation, technological developments
and major world news events. Nexstar undertakes 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 communication 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 Nexstar’s
other filings with the SEC.
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version on businesswire.com: http://www.businesswire.com/news/home/20170601005458/en/
Nexstar Media Group, Inc.Thomas E. Carter, 972-373-8800Chief
Financial OfficerorJCIRJoseph Jaffoni, Jennifer
Neuman212-835-8500nxst@jcir.com
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