ViacomCBS and Nexstar Media Group renew their affiliation agreements
NEW YORK and IRVING, Texas–(BUSINESS WIRE)–ViacomCBS (NASDAQ: VIACA, VIAC) and Nexstar Media Group, Inc. (NASDAQ: NXST) (“Nexstar”) today announced that Nexstar’s wholly-owned subsidiary, Nexstar Media Inc., and its partners operators reached a one-year multi-agreement to renew existing CBS television network affiliations in 39 markets across the country. The 39 markets combined reach 14% of the US audience, serving 17.4 million TV households. After three affiliation agreements renewed at the beginning of last year, this agreement completes the set of affiliation renewals for ViacomCBS and Nexstar.
Nexstar’s CBS affiliates will continue to be available locally to subscribers on Paramount+ and widely distributed on vMVPD platforms.
Commenting on the agreement, Tom Carter, President and Chief Operating Officer of Nexstar, said, “We are extremely pleased to once again extend our long-term partnership with ViacomCBS and the CBS Television Network. These new agreements recognize the value of the network’s news, sports and entertainment programming and reflect the importance of our stations to CBS and to viewers in the local communities we serve.
“CBS Television’s strong lineup, including the CBS Evening News with Norah O’Donnell and 60 mins, prime-time hits like Young Sheldon, FBI, and NCIS, and highly rated live sports, including NFL football and the NCAA college basketball tournament, are a great complement to the high-quality local news and exclusive content produced by our stations. Together, Nexstar and CBS provide an excellent value proposition for our viewers and an excellent advertising platform for our local and national customers. »
“We are delighted to have entered into an agreement with Nexstar that includes several early renewals of our CBS network affiliations,” said Ray Hopkins, president, US Networks Distribution, ViacomCBS. “This agreement demonstrates the power of our collective partnership and our commitment to maintaining strong relationships to better serve audiences across the country with premium content.”
The agreement includes renewals for the following CBS affiliates: KTAB in Abilene, TX; KRQE in Albuquerque, New Mexico; WIAT in Birmingham, AL; WVNS in Bluefield-Beckley, West Virginia; WIVB in Buffalo, NY; WCIA in Champaign, IL; WRBL in Columbus, Georgia; KGPE in Fresno, California; WANE to Ft. Wayne, IN; KREX in Grand Junction, CO; WFRV in Green Bay, Wisconsin; WNCT in Greenville, North Carolina; WSPA in Greenville, South Carolina; KVEO in Harlingen, Texas; WHLT in Hattiesburg, MS; WHNT in Huntsville, AL; WTTV in Indianapolis, IN; WJTV in Jackson, MS; WTAJ in Johnstown, Pennsylvania; KLFY in Lafayette, LA; WLNS in Lansing, Michigan; KLAS in Las Vegas, Nevada; KLBK in Lubbock, TX; WREG in Memphis, TN; KXMC in Minot, North Dakota; WKRG in Mobile, AL; WBTW in Myrtle Beach, SC; WMBD in Peoria, IL; KOIN in Portland, OR; WPRI in Providence, RI; WNCN in Raleigh, North Carolina; KCLO in Rapid City, SD; WROC in Rochester, NY; KLST in San Angelo, TX; KELO in Sioux Falls, SD; WJHL in Tri-Cities, TN-VA; and WKBN in Youngstown, Ohio. The agreement also includes two stations owned by Mission Broadcasting, Inc. and operated by Nexstar, KOLR in Springfield, MO and WYOU in Wilkes Barre, PA.
Financial terms were not disclosed.
ViacomCBS (NASDAQ: VIAC; VIACA) is a leading global media and entertainment company that creates premium content and experiences for audiences around the world. Powered by iconic consumer brands, its portfolio includes CBS, Showtime Networks, Paramount Pictures, Nickelodeon, MTV, Comedy Central, BET, Paramount+, Pluto TV and Simon & Schuster, among others. The company provides the largest share of the US television audience and has one of the largest and most extensive libraries of television and film titles in the industry. In addition to offering innovative streaming services and digital video products, ViacomCBS provides powerful capabilities in production, distribution and advertising solutions.
For more information about ViacomCBS, please visit www.viacomcbs.com and follow @ViacomCBS on social platforms.
About Nexstar Media Group, Inc.
Nexstar Media Group, Inc. (NASDAQ: NXST) is a leading diversified media company that leverages localism to bring new services and value to consumers and advertisers through its traditional, digital and mobile media platforms. Its wholly-owned operating subsidiary, Nexstar Media Inc., consists of three divisions: Broadcast, Digital and Networks. Broadcasting Division operates, programs, or provides sales and other services to 199 television stations and related digital multicast signals reaching 116 markets or approximately 39% of all U.S. television households (reflecting FCC’s UHF rebate) . The division’s portfolio includes major affiliates of NBC, CBS, ABC, FOX, MyNetworkTV and The CW. The digital division operates 120 local websites and 284 mobile apps delivering hyper-local content and verticals for consumers and advertisers, empowering audiences to choose where, when and how to access content and creating new revenue opportunities for consumers. ‘business. The Networks Division operates NewsNation, formerly WGN America, a national cable news and entertainment network reaching 75 million television homes, the Antenna TV and Rewind TV multicast networks, and WGN Radio in Chicago. Nexstar also owns a 31.3% stake in TV Food Network, a leading cable asset. For more information, visit www.nexstar.tv.
This communication includes forward-looking statements. We have based these forward-looking statements on our current expectations and projections regarding future events. Forward-looking statements include information preceded by, followed by or containing the words “guidance”, “believes”, “expects”, “anticipates”, “could” or similar expressions. For these statements, Nexstar claims safe harbor protection for the forward-looking statements contained in the Private Securities Litigation Reform Act of 1995. The forward-looking statements contained in this communication, regarding, among other things, future financial performance, including changes net revenues, cash flows 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, capacity to service and refinance our outstanding debt, the successful integration of acquired television stations and digital businesses (including achieving synergies and cost reductions), fluctuations in local and national advertising prices, future regulatory actions and conditions in the areas of operation of the telephone stations television broadcasting, competition from others in the television broadcasting markets, volatility in programming costs, the effects of government regulation of b roadcasting, industry consolidation, technological developments and major events in world news. 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 press release may 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.