Nexstar Media Group & FOX Broadcasting Company Extend Network Affiliation Agreements & Add over-the-Top Digital Distribution ...
July 12 2017 - 7:00AM
Business Wire
Nexstar Media Group, Inc. (Nasdaq:NXST) (the “Company”)
announced today that it entered into a long-term affiliation
agreement with FOX Broadcasting Company (“FOX”) covering its 17
full power and 2 low power owned or operated stations through
December 31, 2019. In addition, the Company has reached an
over-the-top (“OTT”) master agreement with FOX, as well as specific
agreements to launch on all the new internet-delivered programming
services already distributing FOX programming.
Separately FOX Broadcasting Company extended the affiliation
agreements for six stations owned by Mission Broadcasting, Inc.,
three stations owned by Marshall Broadcasting, Inc., one station
owned by Shield Media, LLC, one station owned by White Knight
Broadcasting, Inc. and one station owned by Super Towers, Inc.,
which are operated by Nexstar Media and these 12 stations have also
entered into an over-the-top (“OTT”) master agreement with FOX, as
well as individual opt-in agreements with the aforementioned new
internet-delivered programming services.
Perry A. Sook, Nexstar Media Group, Inc. Chairman, President and
CEO stated, “We are delighted to extend our affiliation agreements
with FOX and add OTT digital distribution rights. Our new agreement
reflects the complementary value that FOX’s programming brings to
our viewers and stations when combined with Nexstar’s unique,
locally-produced news programming and other content. FOX’s
programming, including highly-rated sports content such as the NFL,
MLB and NASCAR and scripted primetime shows including Empire and
The X-Files, are popular with our viewers and our affiliation with
FOX supports our goals for delivering great entertainment and
information to viewers and advertisers anywhere, anytime and on any
device, while creating a new revenue stream for Nexstar related to
the OTT master agreement.”
Michael Biard, President of Distribution for Fox Networks Group
stated, “We are pleased to extend our affiliation with Nexstar
and launch on emerging distribution services in
all 31 FOX-affiliated markets. Our new agreements with
Nexstar are an important part of our mutual efforts to extend
audience reach while reflecting the value of our programming within
the overall FOX network-affiliate relationship. We look forward to
continuing our collaboration with Perry and his exceptional
team.”
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/20170712005241/en/
Nexstar Media Group, Inc.Thomas E. Carter, 972-373-8800Chief
Financial OfficerorJCIRJoseph Jaffoni / Jennifer
Neuman212-835-8500nxst@jcir.com
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