Proven Industry Executive Promoted to Newly-Created Position Overseeing
Nexstar’s Northeast Television and Digital Media Operations
IRVING, Texas, April 1, 2015 – Nexstar Broadcasting Group, Inc. (NASDAQ: NXST) announced today that Theresa Underwood has been named Senior Vice President and Regional Manager, responsible for overseeing strategic planning and business development of the Company’s broadcast and digital operations in the Northeast. Since 2000, Ms. Underwood has served as Vice President / General Manager of Nexstar-owned WSYR-TV (ABC) and LocalSYR.com serving the Syracuse, NY DMA #84. The appointment is effective immediately and Ms. Underwood will report to Tim Busch, Co-Chief Operating Officer of Nexstar.
Ms. Underwood’s promotion reflects Nexstar’s expanding scale and strategy to appoint proven broadcast and digital media leaders to oversee assets on a regional basis while enhancing its commitment to serve viewers, clients, and advertising partners across its on-air and digital media platforms.
In her new role, Ms. Underwood will oversee Nexstar east regional markets in New York, Pennsylvania and Vermont. Ms. Underwood will work across the Nexstar organization and with other corporate personnel to administer policies and procedures to improve operating efficiencies and the effectiveness and service of the Company’s operations. Additionally, she will be responsible for executing and monitoring action plans aimed at achieving corporate and regional business objectives and financial goals.
Ms. Underwood first joined Nexstar as VP / General Manager of WSYR-TV in December 2012 when the Company acquired various assets of Newport Television. She spent 22 years at WSYR-TV in Syracuse, NY, where she consistently delivered excellence in client service and sales performance. During her tenure, she ascended from her initial role as a Local Account Executive to positions of increased responsibility serving as the National Sales Manager, General Sales Manager, Director of Sales, and Station Manager before being promoted to Vice President and General Manager in 2000. Through her efforts and initiatives, Nexstar’s Syracuse station operations increased local community involvement, elevated service to advertisers, and established a strong local brand. Under her leadership, WSYR-TV achieved consistent revenue gains and developed a long-standing reputation as the market’s leading television and digital operation. In her early career she held media planning and buying positions at several national advertising agencies.
Tim Busch commented on the appointment, “Nexstar’s long-term success reflects our organization-wide commitment to broadcasting excellence for local viewers and unparalleled marketing results for our advertisers. The Company now operates 107 television stations in five regions across the United States and as we continue building Nexstar through a disciplined approach, the addition of another regional vice president was necessary to oversee our expanded scale and maintain our industry-wide reputation of delivering exceptional community service.
“Theresa brings to her new position a deep understanding of Nexstar and our critical functions including station management, local programming production, digital and social media integration, sales and strategic planning, and brand positioning across multiple media platforms. Theresa has experienced tremendous success advancing our Syracuse operations into a long-term position of market leadership in local news, special community-focused content, live-event sports and entertainment programming, as well as digital and mobile service offerings. In addition to her reputation for being a hard-working leader with a high level of integrity, she has established a long-term record of achieving outstanding operating and financial results throughout her career. We are confident in her ability to elevate the value of Nexstar’s on-air and digital platforms in the markets under her oversight by successfully executing initiatives to develop local viewership, while further enhancing the effectiveness and value of our marketing solutions platform. Theresa is an exceptional addition to the Nexstar senior management team and we look forward to her contributions in her new role as we continue to pursue our goals for near- and long-term growth.”
Commenting on her new position, Ms. Underwood stated, “Nexstar’s strong commitment to the local communities it serves is widely recognized throughout the industry. In this new role, I will leverage the management experience and deep community relationships built over my career to generate results and further strengthen Nexstar’s position as a leading provider of superior service to our clients, advertisers, and the local communities where we operate. I look forward to working with Tim, other corporate personnel, and the exceptional group of general managers in New York, Pennsylvania, and Vermont to enhance our local on-air and on-line offerings while developing new revenue-generating strategies, building upon our already impressive record of client service excellence across our multi-distribution marketing solutions platform.”
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 107 television stations and related digital multicast signals reaching 58 markets or approximately 18.0% of all U.S. television households. Nexstar’s portfolio includes affiliates of NBC, CBS, ABC, FOX, MyNetworkTV, The CW, Telemundo, Bounce TV, Me-TV, Estrella, This TV, Weather Nation Utah, Movies!, News Weather, RTV and LATV. 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.
This news release 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, the Company 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 news release, concerning, among other things, 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, our ability to service and refinance our outstanding debt, successful integration of acquired television stations (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 served by the Company, volatility in programming costs, the effects of governmental regulation of broadcasting, industry consolidation, technological developments and major world news events. Unless required by law, we 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 news release 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 our filings with the Securities and Exchange Commission.
Co-COO/Executive Vice President
Nexstar Broadcasting Group, Inc.
Joseph Jaffoni, Jennifer Neuman
212/835-8500 or email@example.com