Nexstar Broadcasting Reaches 30 Distribution Agreements Covering Approximately 10 Million Subscribers
January 04 2017 - 7:04AM
Business Wire
Nexstar Broadcasting Group, Inc. (Nasdaq: NXST) (“Nexstar”)
announced today that it has reached new distribution agreements
with thirty multichannel video programming distributors (“MVPDs”)
allowing the cable and satellite television providers the right to
continue to air Nexstar’s highly rated programming. The new
agreements enable approximately 10 million subscribers across the
Nexstar platform to enjoy uninterrupted access to network, local
news and other programming.
Nexstar has a long-term record of negotiating in good faith to
complete mutually agreeable contracts with hundreds of MVPDs for
the carriage of its programming. Nexstar is delighted that
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 it
produces specifically for local communities.
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 104 television stations and
200 related digital multicast signals reaching 62 markets or
approximately 18.1% 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.
Pro-forma for the completion of all announced transactions,
Nexstar will own, operate, program or provide sales and other
services to 171 television stations and their related low power and
digital multicast signals reaching 100 markets or nearly 39% of all
U.S. television households. 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 and Media
General claim 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, the ultimate outcome
and benefits of a transaction between Nexstar and Media General and
timing thereof, and 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 timing to consummate the proposed
transaction; the risk that a condition to closing of the proposed
transaction may not be satisfied and the transaction may not close;
the risk that a regulatory approval that may be required for the
proposed transaction is delayed, is not obtained or is obtained
subject to conditions that are not anticipated, the impact of
changes in national and regional economies, the ability to service
and refinance our outstanding debt, successful integration of Media
General (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 and
Media General 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
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 the definitive joint proxy
statement/prospectus of Nexstar and Media General and Media
General’s and Nexstar’s other filings with the SEC.
View source
version on businesswire.com: http://www.businesswire.com/news/home/20170104005169/en/
Nexstar Broadcasting Group, Inc.Thomas E. CarterChief Financial
Officer972/373-8800orJCIRJoseph Jaffoni, Jennifer
Neuman212/835-8500 or nxst@jcir.com
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