Nexstar
Broadcasting Group, Inc. (Nasdaq:NXST) announced today that WJMN-TV,
the CBS affiliate serving Marquette and Michigan’s Upper Peninsula (DMA
180), will launch new, innovative local news programming beginning in
April 2014. In concert with Nexstar’s organization-wide commitment to
broadcasting excellence and locally-originated news programming, WJMN-TV
will launch under the branding “LOCAL 3,” which will air Monday through
Friday at 6:00 p.m. and 11:00 p.m. in full high definition.
To support the LOCAL 3 News operations and an expanded staff, Nexstar
will open a new state-of-the-art broadcast facility just west of
Marquette, MI in what will become WJMN-TV Plaza. The new facility is
currently under construction and will feature a dynamic news studio
outfitted with the latest high definition news production resources,
broadcast technologies and presentation equipment.
“Nexstar is a collection of local businesses serving local viewers and
the communities where we operate,” said Perry Sook, Nexstar’s President
and Chief Executive Officer. “Localism is the top priority at Nexstar
and we have over 3,000 employees who are committed to addressing the
needs of local viewers, hometown businesses, and organizations across 44
markets with in-depth local news coverage and other content and
programming relevant to these communities. Nexstar and Mission will
continue to build on their industry-wide leadership in delivering
exceptional service in our markets as the organization pursues its goals
for continued growth.”
Nexstar consistently elevates the level of service provided to local
communities in the markets it serves across the United States by making
meaningful capital investments to expand local news, lifestyle, sports,
weather and other programming and enhancing station infrastructure,
production resources and technologies. The Company’s initiatives in
these areas include:
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Nexstar produces local news programming on 95% of the stations that it
owns, operates, programs or provides sales and other services to,
totaling 70 local news producing television stations serving 41
markets;
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Approximately three quarters of Nexstar and Mission Broadcasting’s
markets have invested in and are producing HD newscasts;
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Over the last five years Nexstar and Mission have:
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Invested approximately $78 million to expand local news
programming and make technology and infrastructure enhancements.
These investments follow approximately $85 million of investments
in broadcasting technology by Nexstar, which concluded in 2009,
for digital conversions of its television broadcasting platform.
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More than doubled the total hours of locally produced programming
on a weekly and annual basis
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Opened five new state-of-the-art broadcast facilities in Joplin,
MO, Fayetteville, AR, Memphis, TN, Fresno, CA, and Marquette, MI;
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In acknowledgement of outstanding journalistic contributions and local
community service, Nexstar and Mission stations have garnered more
than 330 awards over the past five years including:
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161 State Broadcast Association Awards
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64 Local and Other Broadcasting Awards
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42 State Associated Press Awards
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24 Regional Edward R. Murrow Awards
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16 State Society of Professional Journalists (SPJ) Awards
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15 Emmy Awards
Tim Busch, Nexstar’s Executive Vice President and Co-Chief Operating
Officer, commented, “Nexstar’s investments in Marquette in local news,
personnel and facilities underscore the Company’s focus on serving the
viewers and needs of the markets where we operate. WJMN-TV is committed
to providing local Marquette viewers with more news content where, when,
and how they want it. Additionally, Nexstar’s investment in the
technical infrastructure and LOCAL 3 News platform again highlights the
Company’s unwavering dedication to providing superior local content to
our viewers while delivering an enhanced marketing platform for local
businesses and advertisers.”
Mr. Sook concluded, “Nexstar’s organization-wide commitment to
broadcasting excellence for local viewers and unparalleled marketing
results for our advertisers has been a key component of our success and
long-term growth. Across our station portfolio, Nexstar and Mission’s
strong local franchises provide viewers high-quality local news content
and programming while offering businesses an effective marketing
platform to sell their products and services.
“Each station has a unique way of demonstrating its local community
commitment and service that extends beyond the station’s compelling
local news, weather, and sports programming. For example, KGET
added a Telemundo newscast to serve the Hispanic community in
Bakersfield, California; KTAL
provided free health screening and school supplies to over 1,000
children from low-income families in Shreveport, Louisiana through its
annual ‘Back to School’ program; and KODE/KSNF
broadcast a Joplin City Council Election Special profiling candidates
and issues so local residents can make informed decisions on election
day. And in times of disaster and tragedy, Nexstar stations and news
personnel take the lead in delivering accurate, timely, and sometimes
life-saving information to local communities. We are proud that Nexstar
and Mission stations continue to make meaningful contributions in
serving the needs of viewers in the local markets where we operate.”
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, digital and mobile media
platforms. Nexstar owns, operates, programs or provides sales and other
services to 74 television stations and 13 related digital multicast
signals reaching 44 markets or approximately 12.1% of all U.S.
television households. Nexstar’s portfolio includes affiliates of NBC,
CBS, ABC, FOX, MyNetworkTV, The CW, Telemundo, Bounce TV and independent
stations. Nexstar’s 43 community portal websites offer additional
hyper-local content and verticals for consumers and advertisers,
allowing audiences to choose where, when and how they access content
while creating new revenue opportunities.
Pro-forma for the completion of all announced transactions Nexstar will
own, operate, program or provides sales and other services to 108
television stations and related digital multicast signals reaching 56
markets or approximately 16.0% of all U.S. television households.
Forward-Looking Statements
This news release includes forward-looking statements. We have based
these forward-looking statements on our current expectations and
projections about future events. Forward-looking statements include
information preceded by, followed by, or that includes the words
"guidance," "believes," "expects," "anticipates," "could," or similar
expressions. For these statements, the Company claims the protection of
the safe harbor for forward-looking statements contained in the Private
Securities Litigation Reform Act of 1995.
The forward-looking statements contained in this news release,
concerning, among other things, changes in net revenue, cash flow 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, our ability to service and
refinance our outstanding debt, successful integration of acquired
television stations (including achievement of synergies and cost
reductions), pricing fluctuations in local and national advertising,
future regulatory actions and conditions in the television stations'
operating areas, competition from others in the broadcast television
markets served by the Company, volatility in programming costs, the
effects of governmental regulation of broadcasting, industry
consolidation, technological developments and major world news events.
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. In light of these risks, uncertainties and
assumptions, the forward-looking events discussed in this news release
might 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 our filings with the Securities and Exchange
Commission.
Copyright Business Wire 2014