Business
Viewers Deprived of Critical National and Local News, Important Weather Updates, College and NFL Football, Following Verizon FIOS’ Removal of Nexstar Local TV Stations in Ten Markets and National Cable News Network NewsNation
Verizon FiOS Puts Nearly Three Million Subscribers in the Middle, Rather than Reach Fair Agreement New York City, Philadelphia, Buffalo and Providence
About this update from Nexstar Media Group, Inc.
[{"type":"text","content":"\nVerizon FiOS Puts Nearly Three Million Subscribers in the Middle, Rather than Reach Fair Agreement\n\nNew York City, Philadelphia, Buffalo and Providence Markets Affected\n\n IRVING, Texas--(BUSINESS WIRE)--\nTonight at 12 a.m. ET, Verizon FiOS removed from its cable systems the network and local community programming provided to nearly three million of its subscribers by 13 local television stations owned by Nexstar Media Inc., a wholly owned subsidiary of Nexstar Media Group, Inc. (Nasdaq: NXST) (“Nexstar”). Verizon FiOS is refusing to reach a new distribution agreement allowing the cable company the right to continue airing the highly-rated programming on Nexstar’s local stations. As a result, millions of Americans across the country have lost local news, traffic, weather, sports, and entertainment programming as well as critical, up-to-date news regarding the mid-term elections and possible hurricanes in the South and on the East Coast, as well as college and NFL football this weekend. In addition, Verizon FiOS also removed Nexstar’s national cable news network, NewsNation, from its cable systems, denying subscribers access to the news and analysis of such shows as “Cuomo,” “Dan Abrams Live,” and “Banfield.”\n\nNexstar has been negotiating tirelessly and in good faith in an attempt to reach a mutually agreeable multi-year contract with Verizon FiOS, offering the same fair market rates it offered to other large distribution partners with whom it completed successful negotiations in earlier this year. Nexstar routinely reaches amicable retransmission and carriage agreements with its cable, satellite, and telco partners—in the last three years alone, the company has successfully completed agreements with more than 500 distribution partners.\n\nFollowing Verizon FiOS’ actions, subscribers in 10 Nexstar markets including New York City, Philadelphia, Providence, and Buffalo, have lost access to thousands of hours of vitally important local news, just as the country prepares to hold mid-term elections that could determine the balance of power in Congress and the winter storm season hits. In addition, as a result of Verizon FiOS’ actions, subscribers will not be able to view this weekend’s college and NFL football games, and all of the entertainment programming provided by Nexstar’s network partners, CBS, FOX, NBC, ABC, The CW and...