Nexstar’s Cable Network, WGN America, Reaches First-Ever Carriage Agreement with Hulu

Rhea-AI Summary

Nexstar Media Group, Inc. (Nasdaq: NXST) has announced a multi-year agreement with Hulu, allowing WGN America to reach approximately 4 million new Hulu + Live TV subscribers starting January 19, 2021. This marks Nexstar's third agreement with a streaming service this month, also restoring its ABC-affiliated television stations to Hulu + Live TV. Currently, WGN America is available in about 75 million U.S. households and is known for airing NewsNation, the only live nationwide newscast in prime time.

Positive

• Agreement with Hulu expands WGN America's reach to an additional 4 million subscribers.
• Restoration of Nexstar's ABC-affiliated stations to Hulu + Live TV enhances content availability.

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• None.

Nexstar Media Group, Inc. (Nasdaq: NXST) announced today that its wholly-owned cable network, WGN America, has reached its first-ever multi-year comprehensive agreement with Hulu to be carried by the streaming service beginning Jan. 19, 2021. The agreement also restores Nexstar’s ABC-affiliated television stations to Hulu + Live TV. Today’s announcement marks Nexstar’s third agreement with a subscription-based streaming service reached this month. Financial terms were not disclosed.

The agreement enables WGN America to add approximately 4 million new Hulu + Live TV subscribers to the national reach of the cable network, currently available in approximately 75 million television households across the United States. WGN America is the home of NewsNation, the country’s only live nationwide newscast airing in prime-time every night.

“We are very pleased to reach an agreement with one of the country’s premier live TV streaming services and we’re looking forward to making our entertainment content and NewsNation available to 4 million new subscribers throughout the country,” said Sean Compton, President of the Networks Division of Nexstar Inc.

About Nexstar Media Group, Inc.

Nexstar Media Group (NASDAQ: NXST) 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. Its wholly owned operating subsidiary, Nexstar Inc., consists of three divisions: Broadcasting, Digital, and Networks. The Broadcasting Division operates, programs, or provides sales and other services to 197 television stations and related digital multicast signals reaching 115 markets or approximately 39% of all U.S. television households (reflecting the FCC’s UHF discount). The division’s portfolio includes primary affiliates of NBC, CBS, ABC, FOX, MyNetworkTV and The CW. The Digital Division operates 122 local websites and 316 mobile apps offering hyper-local content and verticals for consumers and advertisers, allowing audiences to choose where, when and how they access content and creating new revenue opportunities for the company. The Networks Division operates WGN America, a growing national general entertainment cable network and the home of NewsNation, multicast network Antenna TV, and WGN Radio in Chicago. Nexstar also owns a 31.3% ownership stake in TV Food Network, a top tier cable asset. For more information please visit www.nexstar.tv.

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FAQ

What is the significance of Nexstar's new agreement with Hulu?

Nexstar's agreement with Hulu allows WGN America to expand its viewership by reaching 4 million additional Hulu + Live TV subscribers.

When does the Nexstar and Hulu agreement take effect?

The agreement will begin on January 19, 2021.

How many households currently have access to WGN America?

WGN America is currently available in approximately 75 million television households across the United States.

What other agreements has Nexstar made recently?

The Hulu agreement is Nexstar's third subscription-based streaming service agreement reached this month.