Agreement with Largest Independent Operator
of CBS Affiliates Extends Long-Term Relationship
ViacomCBS (NASDAQ: VIACA, VIAC) and Nexstar Media Group, Inc.
(Nasdaq: NXST), today announced a multi-year agreement to renew
nine CBS network affiliations for Nexstar stations, reaching
approximately 3.5% of the U.S. audience and nearly four million
television households. The deal extends CBS/Nexstar affiliations
that were set to expire later this year and covers two top-50
market affiliates, WNCN-TV in Raleigh, NC and KLAS-TV in Las Vegas,
NV. In August 2019, ViacomCBS and Nexstar completed an affiliation
agreement covering 19 Nexstar stations in 15 markets, reaching
approximately 5% of the U.S. audience and nearly six million
television households. The agreement announced today, coupled with
the August agreement and other prior renewals, marks the long-term
extension of substantially all of the ViacomCBS affiliation
agreements covering 49 Nexstar television stations.
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the full release here:
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Nexstar is the largest independent operator of CBS affiliates,
covering 14% of the U.S. and serving more than 15 million
households. Nexstar owns and/or operates CBS affiliates in 41
markets. Nexstar’s CBS affiliates are also locally available to
subscribers on CBS All Access, CBS’ digital subscription video
on-demand and live streaming service, and distributed across cable
and satellite television services as well as virtual multichannel
video programming distributor platforms.
“We’re pleased to reach an early agreement with Nexstar that
builds upon our longtime partnership and enables us to continue
serving millions of households across the country,” said Ray
Hopkins, President, U.S. Networks Distribution, ViacomCBS.
“Together with Nexstar, we look forward to continue playing an
important role in providing local communities with the trusted news
and entertainment that audiences can rely on during these uncertain
times.”
Nexstar Media Group President and CEO Perry A. Sook added, “We
are delighted to extend our affiliation agreement with ViacomCBS,
our largest network partner and the nation’s #1 network. CBS’
all-star schedule includes an engaging year-round line-up of
prime-time entertainment programming, live sports, and special
events, which complements the high-quality local news and other
exclusive local content produced by Nexstar. Together, CBS and
Nexstar deliver great entertainment and information to viewers and
an excellent marketing platform for local and national advertisers.
The agreement also provides further visibility to Nexstar’s
distribution revenue growth following the completion of new
multi-year retransmission consent agreements in the second half of
2019 representing approximately 70% of our subscribers.”
The agreement consists of renewals for these Nexstar-owned CBS
affiliates: WNCN-TV in Raleigh-Durham, N.C.; KLAS-TV in Las Vegas,
N.V.; KGPE-TV in Fresno-Visalia, C.A.; WYOU-TV in Wilkes
Barre-Scranton, P.A. (Mission Broadcasting); KVEO-TV in
Harlingen-Brownsville, T.X.; WTAJ-TV in Johnstown-Altoona-St.
College, P.A.; KXMC-TV in Minot-Bismarck-Dickinson, N.D.; WVNS-TV
in Bluefield-Beckley-Oak Hill, W.V.; and KREX-TV in Grand
Junction-Montrose, C.O.
About ViacomCBS
ViacomCBS (NASDAQ: VIAC; VIACA) is a leading global media and
entertainment company that creates premium content and experiences
for audiences worldwide. Driven by iconic consumer brands, its
portfolio includes CBS, Showtime Networks, Paramount Pictures,
Nickelodeon, MTV, Comedy Central, BET, CBS All Access, Pluto TV and
Simon & Schuster, among others. The company delivers the
largest share of the U.S. television audience and boasts one of the
industry’s most important and extensive libraries of TV and film
titles. In addition to offering innovative streaming services and
digital video products, ViacomCBS provides powerful capabilities in
production, distribution and advertising solutions for partners on
five continents.
For more information about ViacomCBS, please visit
www.viacbs.com and follow @ViacomCBS on social platforms.
VIAC-IR
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 196 television stations and related digital
multicast signals reaching 114 markets or approximately 38% of all
U.S. television households (reflecting the FCC’s UHF discount).
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.
Nexstar also owns WGN America, a growing national general
entertainment cable network and a 31.3% ownership stake in TV Food
Network, a top tier cable asset. 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 Securities and Exchange Commission.
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version on businesswire.com: https://www.businesswire.com/news/home/20200324005229/en/
Media Contact Karen Shosfy, ViacomCBS
karen.shosfy@viacom.com
Investor Contact Thomas E. Carter Chief Financial Officer
Nexstar Media Group, Inc. 972/373-8800
Joseph Jaffoni, Jennifer Neuman JCIR 212/835-8500 or
nxst@jcir.com
Media Contact Gary Weitman EVP and Chief Communications
Officer Nexstar Media Group, Inc. 312/222-3394 or
gweitman@nexstar.tv
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