Nexstar and Verizon FiOS Reach Multi-Year Distribution Agreement

Rhea-AI Summary

Nexstar Media Group (NASDAQ: NXST) and Verizon (NYSE: VZ) have signed a multi-year distribution agreement reinstating 13 local television stations and NewsNation to Verizon FiOS in 10 markets. This agreement restores access to over three million Verizon subscribers, ensuring they can view key programming, including Major League Baseball’s World Series and college and NFL games. The stations had been unavailable since October 14, enhancing viewer access to local news, sports, and entertainment.

Positive

• Reinstatement of 13 local television stations and NewsNation increases subscriber engagement.
• Access restored for over three million Verizon customers enhances market competitiveness.
• Agreement ensures access to major sporting events, potentially increasing viewership ratings.

Negative

• None.

Local Stations in 10 Markets and Cable News Network, NewsNation, Restored to Carrier’s Program Line-up

IRVING, Texas & NEW YORK--(BUSINESS WIRE)-- Nexstar Media Group, Inc. (Nasdaq: NXST) (“Nexstar”), and Verizon FiOS (NYSE: VZ) (“Verizon”) today announced that they have reached a comprehensive multi-year distribution agreement regarding local television stations in 10 markets and Nexstar’s fast-growing national cable news network, NewsNation.

The agreement means that more than three million Verizon FiOS subscribers will again have access to the highly-rated network and local entertainment, live sports, and news programming provided by these local television stations and by NewsNation, home to “On Balance with Leland Vittert,” “Cuomo,” “Dan Abrams Live,” and “Banfield.” The agreement will ensure that Verizon subscribers won’t miss a moment of Major League Baseball’s World Series, which begins tonight, or any of this weekend’s college and NFL Football games.

These 13 local television stations and related cable and multi-cast networks had been off of Verizon’s platform system since October 14 at midnight.

About Nexstar Media Group, Inc.
Nexstar Media Group, Inc. (NASDAQ: NXST) is a leading diversified media company that produces and distributes engaging local and national news, sports and entertainment content across television, streaming and digital platforms, including nearly 300,000 hours of original video content each year. Nexstar owns America’s largest local broadcasting group comprised of top network affiliates, with 200 owned or partner stations in 116 U.S. markets reaching 212 million people. Nexstar’s national television properties include The CW, America’s fifth major broadcast network, NewsNation, America’s fastest-growing national news and entertainment cable network reaching 70 million television homes, popular entertainment multicast networks Antenna TV and Rewind TV, and a 31.3% ownership stake in TV Food Network. The Company’s portfolio of digital assets, including The Hill and BestReviews, are collectively a Top 10 U.S. digital news and information property. In addition to delivering exceptional content and service to our communities, Nexstar provides premium multiplatform and video-on-demand advertising opportunities at scale for businesses and brands seeking to leverage the strong consumer engagement of our compelling content offering. For more information, please visit Nexstar.tv.

View source version on businesswire.com: https://www.businesswire.com/news/home/20221028005470/en/

Nexstar Media Contact:

Gary Weitman

EVP & Chief Communications Officer

972/373-8800 (office)

gweitman@nexstar.tv

Investor Contact:

Joe Jaffoni or Jennifer Neuman

JCIR

212/835-8500 (office)

nxst@jcir.com

 

Source: Nexstar Media Group, Inc.

FAQ

What is the recent agreement between Nexstar and Verizon about?

Nexstar and Verizon have reached a multi-year agreement to restore 13 local television stations and NewsNation to Verizon FiOS, benefiting over three million subscribers.

Which stations are included in the Nexstar-Verizon agreement?

The agreement includes 13 local television stations and the news network NewsNation.

How many Verizon subscribers will benefit from this agreement?

Over three million Verizon FiOS subscribers will regain access to the channels.

When were the stations removed from Verizon's platform?

The stations were removed from Verizon's platform on October 14.

What programming will Verizon customers have access to after the agreement?

Subscribers will have access to local news, entertainment, live sports, and specific programming like MLB World Series and NFL games.