Nexstar Broadcasting Enters into Retransmission Services Agreement with WOW!/Wide Open West

Nexstar Broadcasting Group, Inc. (Nasdaq: NXST) announced today that it has entered into a six-year retransmission consent agreement with Wide Open West, (WOW!), a leading regional provider of high-speed Internet, cable and telephone services. The agreement grants WOW! the non-exclusive right to distribute Nexstar’s locally produced content, including market-leading local newscasts, and to carry the both the analog and digital (including high definition) signals of WTVW, Nexstar’s FOX affiliated station in Evansville, Indiana. Financial terms of the agreement were not disclosed. Perry A. Sook, Chairman, President and Chief Executive Officer of Nexstar Broadcasting Group, Inc., commented, "Our agreement with Wow! highlights the industry’s growing appreciation of the value of the carriage rights for locally produced content and leading national programming.” Beginning in 2005, Nexstar led the television broadcast industry by negotiating retransmission agreements with approximately 150 cable operators as well as with both direct broadcast satellite providers, overbuilders (secondary cable providers) and wireless cable providers in its markets. More recently, Nexstar established a multi-year retransmission agreement with Verizon to deliver content for its fast-growing fiber-optic powered FiOS TV service. Mr. Sook added, "Our first round of retransmission consent agreements was concluded early in 2006 resulting in significant incremental revenue. In 2007 retransmission consent revenue grew by 25% to $17.2 million compared with 2006. With 47% of the revenue related to the initial agreements to be re-negotiated in 2008 and 80% of the revenue related to those agreements to be re-negotiated before year-end 2009, we expect substantial growth in retransmission revenue.” About Nexstar Broadcasting Group, Inc. Nexstar Broadcasting Group currently owns, operates, programs or provides sales and other services to 50 television stations in 29 markets in the states of Illinois, Indiana, Maryland, Missouri, Montana, Texas, Pennsylvania, Louisiana, Arkansas, Alabama and New York. Nexstar’s television station group includes affiliates of NBC, CBS, ABC, FOX, MyNetworkTV and The CW and reaches approximately 8.25% 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.