Nexstar Broadcasting Completes Acquisition of WCWJ-TV, the CW Affiliate, in Jacksonville, Florida

Nexstar Broadcasting Group, Inc. (Nasdaq: NXST) announced today that it completed the previously announced purchase of the assets of WCWJ-TV, the CW affiliate serving the Jacksonville, Florida market, from Media General, Inc. This acquisition marks Nexstar’s entrée into the State of Florida and will represent the 63rd television station that the Company owns or for which it provides sales, programming or other services.

According to Nielsen Media’s 2008-2009 Local Market Estimates, Jacksonville is the 47th largest television market in the country.

Nexstar Broadcasting Group President and CEO, Perry A. Sook commented, "We are delighted to complete the acquisition of WCWJ as we believe the transaction brings clear strategic and financial benefits to Nexstar as it expands and diversifies our station portfolio, marks our entrée to Florida’s largest market, and is consistent with our ongoing leverage reduction priority. We expect station operating results to benefit from the addition to Nexstar’s retransmission consent agreements and the launch of Nexstar’s differentiated, proven e-MEDIA offerings. Pro forma for our planned operational and financial changes, we expect the acquisition to be immediately deleveraging and accretive to Nexstar’s operating results.”

Nexstar also believes that given its recently announced agreement to manage seven stations owned by Four Points Media Group, an affiliate of Cerberus Capital Management, the acquisition of WCWJ-TV offers opportunities for synergies with WTVX-TV, Four Points’ CW affiliate serving the West Palm Beach area.

About Nexstar Broadcasting Group, Inc.

Nexstar Broadcasting Group currently owns, operates, programs or provides sales and other services to 63 television stations in 34 markets in the states of Illinois, Indiana, Maryland, Missouri, Montana, Texas, Pennsylvania, Louisiana, Arkansas, Alabama, New York and Florida. Nexstar’s television station group includes affiliates of NBC, CBS, ABC, FOX, MyNetworkTV and The CW and reaches approximately 13 million viewers or approximately 11.5% of all U.S. television households.

Forward-Looking Statements

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