Nexstar Broadcasting Announces Full Exercise of Over-Allotment Option for 1.2 Million Shares of Common Stock in Secondary Offering by Selling Stockholders

Nexstar Broadcasting Group, Inc. (NASDAQ: NXST) (the “Company”) announced today that, in connection with its previously announced underwritten offering of 8.0 million shares of Class A common stock of the Company by selling stockholders, funds affiliated with ABRY Partners, LLC, the underwriters exercised in full their option to purchase an additional 1.2 million shares of Class A common stock. The additional 1.2 million shares of Class A common stock were sold on the same terms and conditions as the first 8.0 million shares, at $9.25 per share. The Company did not sell any shares in the offering and did not receive any proceeds from the offering.

Credit Suisse Securities (USA) LLC, Wells Fargo Securities, LLC and UBS Securities LLC were the joint book-running managers of the offering. RBC Capital Markets, LLC and Evercore Group L.L.C. acted as co-managers of the offering.

A shelf registration statement (including prospectus) relating to the shares has been declared effective by the Securities and Exchange Commission ("SEC"). This press release shall not constitute an offer to sell or the solicitation of an offer to buy any securities nor has there been any sale of these securities in any state or other jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or other jurisdiction. The offering of these securities has been made only by means of the prospectus supplement and the accompanying prospectus.

About Nexstar Broadcasting Group, Inc.

Nexstar Broadcasting Group is a leading diversified media company that leverages localism to bring new services and value to consumers and advertisers through its traditional media, e-MEDIA, digital and mobile media platforms. Nexstar owns, operates, programs or provides sales and other services to 64 television stations and related digital multicast signals reaching 38 markets or approximately 11.1% of all U.S. television households.

Assuming completion of all announced transactions, Nexstar will own, operate, program or provide sales and other services to 71 television stations and related digital multicast signals reaching 41 markets or approximately 12.1% of all U.S. television households.

Forward-Looking Statements

Certain statements in this news release are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Generally, forward-looking statements are not based on historical facts but instead represent only our current beliefs regarding future events. All forward-looking statements are, by their nature, subject to risks, uncertainties and other factors that could cause actual results, performance or achievements to differ materially from those expressed or implied in such forward-looking statements. Investors are cautioned not to place undue reliance on these forward-looking statements. Such statements may be identified by words such as "expects," "anticipates," "intends," "projects," "estimates," "plans," "may increase," "may fluctuate" and similar expressions or future or conditional verbs such as "will," "should," "would," "may" and "could." Unless required by law, we undertake no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. For more details on factors that could affect these expectations, please see our filings with the Securities and Exchange Commission.