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Nexstar Broadcasting’s KBTV-TV in Beaumont, Texas to Become FOX Affiliate As of January 1, 2009

October 29, 2008

Nexstar Broadcasting Group, Inc. (Nasdaq: NXST) announced today that its KBTV-TV television station in Beaumont, Texas will become the market’s FOX affiliate as of January 1, 2009. KBTV-TV’s current NBC network affiliation expires on December 31, 2008.

According to Nielsen Media’s 2008-2009 Local Market Estimates, Beaumont, Texas will be ranked as the 141st largest television market in the country in 2009. KBTV-TV’s local news, programming and FOX network programming will be broadcast over the air on channel 4 and KBTV-DT channel 40. KBTV’s channel position on cable and satellite systems is expected to remain the same.

Commenting on the agreement, Nexstar Broadcasting Group President and CEO, Perry A. Sook said, “This long-term affiliation agreement with FOX highlights Nexstar’s strategic approach to managing its station portfolio. With KBTV’s current affiliate agreement ending on December 31, 2008, we explored all alternatives and elected to switch to FOX as it enables Nexstar to broadcast its excellent local news and other programming in additional time slots to meet viewer preferences. KBTV’s full power digital signal also represents an upgrade over the existing broadcaster’s FOX signal in the market and will allow more viewers to receive great FOX programming and sporting events in High-Definition. We are confident that this is a win-win situation for Nexstar, FOX and Southeast Texas viewers. As such, we see the move quickly elevating our position in the Beaumont, Texas market.”

About Nexstar Broadcasting Group, Inc.

Nexstar Broadcasting Group currently owns, operates, programs or provides sales and other services to 50 television stations in 29 markets in the states of Illinois, Indiana, Maryland, Missouri, Montana, Texas, Pennsylvania, Louisiana, Arkansas, Alabama and New York. Nexstar’s television station group includes affiliates of NBC, CBS, ABC, FOX, MyNetworkTV and The CW and reaches approximately 8.2% of all U.S. television households.

Forward-Looking Statements

Statements in this news release which are not purely historical facts, including statements about forecasted financial projections (such as changes in net revenue) or other statements about anticipations, beliefs, expectations, hopes, intentions or strategies in the future, may be forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended and Section 21E of the Securities Exchange Act of 1934, as amended. Such forward-looking statements 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, including our most recent Annual Report on Form 10-K.




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