September 4, 2008
Nexstar Broadcasting Group Enters into Retransmission Consent Agreements With DIRECTV and AT&T
Nexstar Broadcasting Group, Inc. (Nasdaq: NXST) announced today that it has entered into multi-year retransmission consent agreements with DIRECTV (Nasdaq: DTV) and AT&T (NYSE: T). The agreements grant DIRECTV and AT&T the non-exclusive rights to distribute Nexstar's locally produced content, including market-leading local newscasts, and to carry the standard definition and high-definition signals of television stations owned and/or operated by Nexstar. Terms of the agreements were not disclosed.
Perry A. Sook, Chairman, President and Chief Executive Officer of Nexstar Broadcasting Group, Inc., commented, "The new agreements with DIRECTV and AT&T deliver valuable locally produced video content to important platform distributors. Furthermore, these agreements ensure that DIRECTV and AT&T TV U-verse subscribers have access to the broadest array of entertainment choices. Our advertiser base will also benefit with greater reach to leverage their messages."
DIRECTV, Inc. (NASDAQ:DTV - News), the nation's leading satellite television service provider, presents a television experience available to more than 17.1 million customers in the United States and is leading the HD revolution with more than 130 HD channels - more quality HD channels than any other television provider. Each day, DIRECTV subscribers enjoy access to over 265 channels of 100% digital picture and sound, exclusive programming, industry-leading customer satisfaction (which has surpassed all national cable companies for eight years running) and superior technologies that include advanced DVR and HD-DVR services and the most state-of-the-art interactive sports packages available anywhere. For the most up-to-date information on DIRECTV, please visit directv.com.
About AT&T U-Verse
The AT&T U-verse portfolio of IP-based services integrates digital TV, U-verse enabled AT&T High Speed Internet, and next-generation digital voice services which are delivered over AT&T's expanded fiber network.
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 8.25% of all U.S. television households.
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.