Nexstar Broadcasting Group, Inc. (Nasdaq: NXST) announced today that its
Board of Directors declared a quarterly cash dividend of $0.24 per share
of its Class A common stock. The dividend is payable on Friday, May 27,
2016, to shareholders of record on Friday, May 13, 2016.
While the Company intends to pay regular quarterly cash dividends for
the foreseeable future, all subsequent dividends will be reviewed
quarterly and declared by the Board of Directors at its discretion.
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 103 television stations and 54 low power and digital
multicast signals reaching 62 markets or approximately 18.0% of all U.S.
television households. Nexstar’s portfolio includes primary affiliates
of NBC, CBS, ABC, FOX, MyNetworkTV and The CW and multicast affiliates
of Telemundo, Bounce TV, Me-TV, LATV, Estrella, This TV, Weather Nation
Utah, Movies! and News/Weather. Nexstar’s 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 provide sales and other services to 171
television stations and their related low power and digital multicast
signals reaching 100 markets or approximately 39% of all U.S. television
households. For more information please visit www.nexstar.tv.
Forward-Looking Statements
This communication 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, Nexstar 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 communication, concerning, among other things, the
ultimate outcome and benefits of any possible transaction between
Nexstar and Media General and timing thereof, and future financial
performance, including 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 timing to consummate
the proposed transaction; the risk that a condition to closing of the
proposed transaction may not be satisfied and the transaction may not
close; the risk that a regulatory approval that may be required for the
proposed transaction is delayed, is not obtained or is obtained subject
to conditions that are not anticipated, the impact of changes in
national and regional economies, the ability to service and refinance
our outstanding debt, successful integration of Media General (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, volatility in programming costs, the
effects of governmental regulation of broadcasting, industry
consolidation, technological developments and major world news events.
Unless required by law, Nexstar undertakes 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 communication 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 Media General’s and Nexstar’s filings with the
Securities and Exchange Commission.
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