IRVING, Texas – 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.
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.
Thomas E. Carter
Chief Financial Officer
Nexstar Media Group, Inc.
Joseph Jaffoni, Jennifer Neuman
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