NEW YORK and IRVING, Texas, Aug. 6,
2019 /PRNewswire/ -- CBS Corporation (NYSE: CBS.A and
CBS) and Nexstar Media Group, Inc. (Nasdaq: NXST) today announced a
multi-year agreement that renews CBS network affiliations for
Nexstar stations, in fifteen markets that reach approximately 5% of
the U.S. audience and nearly six million households. The new
agreement extends all CBS/Nexstar affiliation agreements related to
a total of 19 stations that were set to expire this year.
Nexstar is the largest independent operator of CBS affiliates,
covering 13% of the U.S. and serving more than 14 million
households. Nexstar owns and/or operates CBS affiliates in 39
markets. Nexstar's CBS affiliates are also locally available to
subscribers to CBS All Access, the Network's
direct-to-consumer digital subscription video on-demand and live
streaming platform, and distributed across cable and satellite
television services as well as other virtual multichannel video
programming distributor platforms.
"We are pleased to reach this agreement with our longtime and
valued partner Nexstar well ahead of the expiration date of the
existing contracts," said Ray
Hopkins, President, Television Networks Distribution, CBS
Corporation. "Nexstar has a proven record of providing local
viewers with high-quality programming and community support, and we
look forward to partnering with Perry and his team to serve these
audiences for years to come."
Hopkins continued, "This agreement marks the second marketplace
distribution deal CBS has reached in just the last week and a half,
coming to fair terms with another great partner who understands the
value America's Most Watched Network brings to the viewers we both
serve."
Nexstar Media Group President and CEO Perry A. Sook added, "We are delighted to extend
our affiliation agreement with CBS as we recognize the value that
the #1 network's strong slate of programming brings to our stations
around the clock. Starting with CBS THIS MORNING through THE LATE
SHOW with STEPHEN COLBERT, the #1
show in late night, CBS draws millions of daily viewers. And,
with the start of the NFL and SEC college football seasons just
weeks away, millions of fans across the country will be tuning into
CBS. Additionally, CBS offers our viewers hit programming across
primetime, daytime and news, including the #1 most-watched drama,
NCIS; highly rated comedy YOUNG
SHELDON; the #1 daytime drama, THE YOUNG AND THE RESTLESS;
and 60 MINUTES, the country's most-watched newsmagazine."
Sook continued, "CBS' all-star schedule, which includes an
exciting year-round sports programming lineup, complements the
high-quality local news and other exclusive local content produced
by Nexstar. Together, CBS and Nexstar deliver great entertainment
and information to viewers and an excellent platform for marketing
solutions for local and national advertisers."
The agreement includes renewals for these Nexstar-owned CBS
affiliates: WSPA in Greenville-Spartanburg, S.C.; WIAT in Birmingham, Ala.; KRQE in Albuquerque, N.M.; WIVB in Buffalo, N.Y.; WPRI in Providence, R.I.; WKRG in Mobile, Ala.; WJTV in Jackson, Miss.; WBTW in Myrtle Beach, S.C.; WJHL in Johnson City, Tenn. (Tri-Cities DMA); WANE in
Ft. Wayne, Ind., WNCT in
Greenville, N.C.; KELO in
Sioux Falls, S.D.; WRBL in
Columbus, Ga.; WHLT in
Hattiesburg, Miss.; and KCLO in
Rapid City, S.D.; as well as
KRQE's satellite stations KBIM in Roswell, N.M. and KREZ in Durango, Col.; and
KELO's satellite stations KPLO in Reliance, S.D. and KDLO in Florence, S.D.
About CBS Corporation:
CBS Corporation (NYSE: CBS.A and CBS) is a mass media company
that creates and distributes industry-leading content across a
variety of platforms to audiences around the world. The Company has
businesses with origins that date back to the dawn of the
broadcasting age as well as new ventures that operate on the
leading edge of media. CBS owns the most-watched television network
in the U.S. and one of the world's largest libraries of
entertainment content, making its brand -- "the Eye" -- one of the
most-recognized in business. The Company's operations span
virtually every field of media and entertainment, including cable,
publishing, local TV, film and interactive. CBS' businesses include
CBS Television Network, The CW (a joint venture between CBS
Corporation and Warner Bros. Entertainment), Network 10 Australia,
CBS Television Studios, CBS Global Distribution Group, CBS Consumer
Products, CBS Home Entertainment, CBS Interactive, CBS All Access,
the Company's direct-to-consumer digital streaming subscription
service, CBS Sports Network, CBS Films, Showtime Networks, Pop,
Smithsonian Networks, Simon & Schuster, CBS Television Stations
and CBS Experiences. For more information, go to
www.cbscorporation.com.
About Nexstar Media Group, Inc.
Nexstar Media Group is a leading diversified media company that
leverages localism to bring new services and value to consumers and
advertisers through its traditional media, digital and mobile media
platforms. Nexstar owns, operates, programs or provides sales and
other services to 174 full power television stations and related
digital multicast signals reaching 100 markets or nearly 39% of all
U.S. television households. Nexstar's portfolio includes primary
affiliates of NBC, CBS, ABC, FOX, MyNetworkTV and The CW. Nexstar's
community portal websites offer additional hyper-local content and
verticals for consumers and advertisers, allowing audiences to
choose where, when and how they access content while creating new
revenue opportunities. For more information please visit
www.nexstar.tv.
Nexstar Media Group, Inc. Forward-Looking Statements
This communication 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, Nexstar 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 communication,
concerning, among other things, future financial performance,
including 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, the ability to service and
refinance our outstanding debt, successful integration of acquired
television stations and digital businesses (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, volatility in
programming costs, the effects of governmental regulation of
broadcasting, industry consolidation, technological developments
and major world news events. Nexstar undertakes 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 communication 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 Nexstar's
other filings with the Securities and Exchange Commission.
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SOURCE CBS Corporation