Nexstar Broadcasting Group Declares Quarterly Cash Dividend of $0.24 Per Share
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, August 26, 2016, to shareholders of record on
Friday, August 12, 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 104 full power television stations reaching 62 markets, or approximately 18.1% of all U.S.
television households. Nexstar’s portfolio includes primary affiliates of NBC, CBS, ABC, FOX, MyNetworkTV and The CW. 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 nearly 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
and Media General claim 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 a 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. Nexstar and Media General 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 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 the definitive joint proxy
statement/prospectus of Nexstar and Media General and Media General’s and Nexstar’s other filings with the SEC.
Nexstar Broadcasting Group, Inc.
Thomas E. Carter, 972-373-8800
Chief Financial Officer
or
JCIR
Joseph Jaffoni, Jennifer Neuman
212-835-8500
nxst@jcir.com
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