The CW Tv Community and Nexstar Media Group Renew Nationwide Enterprise Partnership Agreements
BURBANK, Calif. & IRVING, Texas – (BUSINESS WIRE) – May 20, 2021–
The CW Television Network and Nexstar Media Group, Inc. (NASDAQ: NXST) and their operating partners announced today that they have entered into multi-year CW network membership renewal agreements in 37 markets across the country (28 Nexstar and 9 partner companies ) TV channel). The agreements include five top 10 market partners: WPIX-TV in New York City, KTLA-TV in Los Angeles, KDAF-TV in Dallas, KIAH-TV in Houston, and WDCW-TV in Washington, DC Markets cover more than 31 % of the US audience, serving more than 38 million television households.
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“As the largest CW subsidiary in the country, Nexstar is excited to expand its longstanding relationship with the network,” said Tom Carter, president, chief operating officer and chief financial officer of Nexstar. “CW’s offering of prime-time entertainment shows, coupled with Nexstar’s highly rated local news and other market-driven programming, enables us to deliver great content to millions of viewers and exceptional value to our advertisers.”
“We are pleased to extend our valued partnership with a multi-year contract with our largest broadcasting group, Nexstar. The linear broadcast model remains the backbone of our business model and is vital as it gives us the size and local reach that sets us apart as a primal multi-platform network in today’s marketplace, “said Betty Ellen Berlamino, Executive Vice President Distribution at The CW. “The successful launches of our new script series WALKER, SUPERMAN & LOIS and KUNG FU have expanded our strong program offering, which includes ALL AMERICAN, THE FLASH, RIVERDALE, NANCY DREW and BATWOMAN, combined with the local news and exclusive content from Nexstar will continue to be a qualitative one Provide high quality ad for our audience and a world class advertising platform for our advertisers. “
About the CW:
THE CW TELEVISION NETWORK was launched in 2006 as the fifth American radio network. The program is aimed at younger viewers, a segment of the population that is very popular with advertisers. The CW, a joint venture between Warner Bros. Entertainment and CBS Corporation, now broadcasts weekly and offers fourteen hours of primetime programming Monday through Sunday starting in Fall 2021. The CW’s primetime programming can also be streamed for free without authentication on the ad-supported cwtv.com and The CW app, which is now available on all major OTT platforms. In addition, The CW broadcasts a three-hour children’s block on Saturday morning. CW’s CW Seed digital network was launched in 2013 and offers original short-form digital content as well as past seasons of fans’ favorite TV series. For more information about the network and its programming, please visit www.cwtvpr.com.
About the Nexstar Media Group:
Nexstar Media Group (NASDAQ: NXST) is a leading diversified media company using the locality to deliver new services and value to consumers and advertisers through its traditional media, digital and mobile media platforms. The wholly owned operating subsidiary Nexstar Media Inc. consists of three business areas: Broadcasting, Digital and Networks. The Broadcasting Division operates, programs, or provides sales and other services for 198 television stations and related digital multicast signals reaching 116 markets, or approximately 39% of all US television households (reflecting the FCC’s UHF rebate). The division’s portfolio includes the major subsidiaries of NBC, CBS, ABC, FOX, MyNetworkTV and The CW. The Digital Division operates 120 local websites and 284 mobile apps that deliver hyper-local content and industries to consumers and advertisers. Viewers can choose where, when and how to access content and create new revenue opportunities for the company. The Networks Division operates NewsNation, formerly WGN America, a national news and entertainment cable network that reaches 75 million television households, the multicast network Antenna TV and WGN Radio in Chicago. Nexstar also has a 31.3% stake in TV Food Network, a world-class cable company. Further information can be found at www.nexstar.tv.
This release contains forward-looking statements. We have based these forward-looking statements on our current expectations and forecasts of future events. Forward-looking statements contain information preceded, followed, or followed by the words “guidance,” “believes,” “expects,” “anticipates,” “may,” or similar expressions. For these statements, Nexstar claims the safe haven for forward-looking statements contained in the Private Securities Litigation Reform Act of 1995. The forward-looking statements contained in this release address, among other things, future financial performance, including changes in net sales, cash flow and operating costs involve risks and uncertainties and are subject to change due to various important factors, including the effects of changes in the national and regional economies , the ability to service and refinance our outstanding debt as well as the successful integration of acquired television stations and digital companies (including achieving synergies and cost reductions), price fluctuations in local and national advertising, future regulatory measures and conditions in the operating areas of the television stations, competition by others in the television markets, volatility in programming costs, the impact of government regulation of b roadcasting, industry consolidation, technological developments and important w Worldwide news events. Nexstar assumes no obligation to update or revise any forward-looking statements as a result of new information, future events or for any other reason. Given these risks, uncertainties, and assumptions, the forward-looking events discussed in this release may not materialize. You should not place undue reliance on these forward-looking statements, which speak only as of the date of this publication. Please refer to Nexstar’s other filings with the Securities and Exchange Commission for more details on factors that could affect these expectations.
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CONTACT: CW Media Contacts:
Paul Hewitt, 818 / 977-6171
[email protected] Nate Kirtman, 818 / 977-5993
[email protected] Media Contact:
EVP & Chief Communications Officer
972 / 373-8800
[email protected] investor contacts:
Joseph Jaffoni or Jennifer Neuman
212 / 835-8500 [email protected]
KEYWORD: UNITED STATES NORTH AMERICA CALIFORNIA TEXAS
KEYWORD IN THE INDUSTRY: AUDIO / VIDEO MARKETING ADVERTISING COMMUNICATION FOR FAMILY ENTERTAINMENT NETWORKS FOR FAMILY ENTERTAINMENT NETWORKS
SOURCE: Nexstar Media Group, Inc. and The CW Television Network
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PUB: 05/20/2021 09:00 am / DISC: 05/20/2021 09:02 am