IRVING, Texas--(BUSINESS WIRE)--
Nexstar Media Group, Inc. (Nasdaq:NXST) (the “Company”) announced today that it entered into a long-term affiliation agreement with ABC Television Network (“ABC”) covering 24 of its owned or operated stations through December 31, 2022. In addition, the Company has reached an over-the-top (“OTT”) master agreement with ABC, for new internet-delivered programming services from DirecTV Now, Sony PlayStation Vue, YouTube TV, CenturyLink and ABC's TV Everywhere. Separately ABC Television Network extended the affiliation agreements for six stations owned by Mission Broadcasting, Inc., one station owned by Shield Media and two stations owned by Vaughn Media and these nine stations have also entered into an over-the-top (“OTT”) master agreement with ABC.
Perry A. Sook, Nexstar Media Group, Inc. Chairman, President and CEO stated, “We are delighted to reach this long-term extension of our affiliation agreements and forge OTT digital distribution agreements with ABC in a manner that mutually recognizes the value of our respective content offerings. As Nexstar grows, we continue to raise our commitment to support the evolving needs of the viewers, businesses and local communities that we serve each day by working with our network partners and distributors to deliver our content anywhere, anytime and on any device. The combination of Nexstar’s unique, locally-produced news programming and content married with ABC’s marquee national content and access to these new and emerging digital distribution platforms is an unbeatable value proposition. Our new agreement with ABC supports our goals for delivering great entertainment and information to viewers and an effective multiplatform marketing solutions for local and national brands and advertisers while creating a new revenue stream for Nexstar related to the OTT master agreement.”
“We are very pleased to extend our affiliation with Nexstar in key markets and launch digital distribution services across their ABC-affiliated stations, while maintaining the value and integrity of our long-standing partnership,” said John Rouse, Executive Vice President ABC Affiliate Relations and Marketing. “Nexstar has consistently delivered strong local programming and community service, which has complemented ABC’s leading network news, primetime and sports programming. Our companies share a common goal of strengthening our audiences, advertisers and revenues and our new agreement with Nexstar is important to our mutual efforts.”
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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