Business
Nexstar Media Group and NBC Television Network Renew Long-term Affiliation Agreements
Renewal Covers 21 NBC Affiliated Television Stations Owned by Nexstar and Mission Broadcasting, Inc. NEW YORK & IRVING, Texas--(BUSINESS WIRE)-- November 21,
About this update from Nexstar Media Group, Inc.
[{"type":"text","content":"\n Renewal Covers 21 NBC Affiliated Television Stations Owned by Nexstar and Mission Broadcasting, Inc.\n\n NEW YORK & IRVING, Texas--(BUSINESS WIRE)--\nNovember 21, 2019 –Nexstar Media Group, Inc. (Nasdaq: NXST) (“Nexstar”) and Mission Broadcasting announced today that they have reached a four-year agreement to renew the existing NBC Television Network affiliations of their stations in 21 markets across the country. Collectively, these stations reach approximately 11.4% of U.S. television households, or about 12.5 million homes. The new affiliation agreements cover eighteen Nexstar owned stations, including two recent acquisitions, and three Mission stations. The previous affiliation agreements were set to expire in December 2019.\n\n\nCommenting on the agreement, Nexstar Media Group President and CEO, Perry A. Sook said, “We are proud to again partner with NBC. Our new affiliation agreements recognize the value of the network’s broad range of compelling news, sports, and entertainment programming, and reflect the importance of our stations to NBC and to the viewers of the local communities we serve. These agreements also mark the successful completion of essentially all of Nexstar’s outstanding network affiliation renewals for 2019. At the same time, we continue finalizing new distribution renewals addressing over 70% of our subscriber base. Together, these network and distribution renewals give us solid confidence in our expectations regarding the future growth of Nexstar’s net retransmission revenues.”\n\n\n“NBC boasts a strong programming lineup, including Today and NBC Nightly News with Lester Holt, primetime hits such as This is Us and The Voice, comedy favorites like Saturday Night Live, and highly-rated live sports like NFL Sunday Night Football and the upcoming Tokyo 2020 Olympics. Together with the high-quality local news and exclusive content produced by our stations, Nexstar’s partnership with NBC delivers a great value proposition for our viewers and an excellent advertising platform for our local and national clients.”\n\n\n“We are pleased to renew our affiliation with Nexstar Media Group and Mission Broadcasting to serve these 21 markets,” said Phil Martzolf, President, Affiliate Relations, NBC Broadcasting. “We have a strong partnership with Nexstar, and look forward to our continued collaboration to bring NBC p...