IRVING, Texas– 11/30/2011 - (CRWENEWSWIRE) — Nexstar Broadcasting Group, Inc. (Nasdaq:NXST) announced today that it has reached a new, multi-year retransmission consent agreement with DISH Network Corporation (NASDAQ:DISH), the third largest multichannel TV provider in the U.S. The agreement grants DISH Network the right to carry 55 television stations and related digital programming channels owned by Nexstar and Mission Broadcasting, Inc.
Perry A. Sook, Chairman, President and Chief Executive Officer of Nexstar Broadcasting Group, Inc., said, �We are delighted to enter into a new agreement with DISH as it validates the strength of our award-winning local content and leading national programming. The agreement ensures that DISH subscribers have access to Nexstar�s locally produced, market-leading local newscasts and network and syndicated programming, and gives advertisers the benefit of DISH�s wide distribution.�
�DISH Network is pleased to announce this new agreement to carry dozens of local broadcast stations owned by Nexstar and Mission around the country,� added Dave Shull, DISH Network�s senior vice president, Programming. �We thank Nexstar for serving as a valuable partner and for respecting our customers� wishes to have uninterrupted access to their local channels throughout these negotiations. We pledge to work hard to offer the most channel choices and the lowest everyday prices in the industry.�
About DISH Network
DISH Network Corporation, through its subsidiary DISH Network L.L.C., provides approximately 13.945 million satellite TV customers, as of Sept. 30, 2011, with the highest quality programming and technology with the most choices at the best value, including HD Free for Life. Subscribers enjoy the largest high definition line-up with more than 200 national HD channels, the most international channels, and award-winning HD and DVR technology. DISH Network’s subsidiary, Blockbuster L.L.C., delivers family entertainment to millions of customers around the world. DISH Network Corporation is a Fortune 200 company. Visit www.dish.com.
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, e-MEDIA, digital and mobile media platforms. Nexstar owns, operates, programs or provides sales and other services to 75 television stations and related digital signals in 36 markets in 16 states and reaches approximately 13.5 million viewers or approximately 11.6% of all U.S. television households. 72 of the stations are affiliates of NBC, CBS, ABC, FOX, MyNetworkTV, The CW, LATV, Azteca America, Telemundo and Bounce TV, the nation�s first over-the-air broadcast television network programmed for African-American audiences and three are independent stations. The Company’s 35 community portal websites offer additional hyper-local content and verticals for consumers and advertisers.
Forward-Looking Statements
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.
Source: Nexstar Broadcasting Group, Inc.
Contact:
Nexstar Broadcasting Group, Inc.
Thomas E. Carter
Chief Financial Officer
972-373-8800
or
Jaffoni & Collins Incorporated
Joseph Jaffoni, 212-835-8500
nxst@jcir.com
THIS IS NOT A RECOMMENDATION TO BUY OR SELL ANY SECURITY!
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