Nexstar Broadcasting Group, Inc. (Nasdaq: NXST) announced today that
effective May 1, 2009, Elizabeth Hammond has been named Vice President
and General Counsel, a new position at the Company. Ms. Hammond will
report directly to Nexstar Broadcasting Group President and Chief
Executive Officer, Perry Sook.
Elizabeth Hammond brings a broad range of legal and business experience
to Nexstar Broadcasting and will be responsible for the Company’s legal,
business and regulatory affairs. Prior to joining Nexstar, Ms. Hammond
served as Vice President, Legal Affairs at First Broadcasting Operating,
Inc. where she specialized in corporate legal and transactional matters,
FCC regulatory compliance and conducted due diligence reviews on
corporate restructurings, acquisitions, dispositions and joint ventures.
From 2002-2007, Ms. Hammond served as both Associate and Counsel at
Drinker Biddle and Reath, LLP, a Washington, D.C.-based law firm, where
she provided advanced legal counsel to clients across the media and
cable industries, including Nexstar Broadcasting. In this role, Ms.
Hammond was responsible for legal strategy and correspondence related to
FCC regulatory compliance, programming and carriage negotiations,
acquisitions and divestitures and other legal services. Ms. Hammond
began her legal career in 1997 serving for four years as an Associate at
Arter & Hadden, where she focused on legal matters on behalf of the
firm’s broadcast and telecommunications clients.
Nexstar Broadcasting Group President and CEO, Perry A. Sook commented,
"As Nexstar Broadcasting has grown we have emphasized the recruitment of
experienced, proven executives to our senior management team. We are
delighted to have attracted a General Counsel with Elizabeth’s breadth
of relevant experience, energy and track record of accomplishments in
broadcasting industry matters.
"We are confident that her legal expertise and knowledge of the industry
and regulatory landscapes will be important assets to Nexstar.
Elizabeth’s experience will also be a valuable resource to Nexstar when
negotiating future carriage agreements with our distribution partners
and managing legal matters related to our local stations’ multicast,
mobile and high-definition rights. As Nexstar has grown to a scale to
warrant in-house counsel, we also see this appointment as an opportunity
to reduce outside legal expenses which is consistent with our company
wide focus on cost reductions.”
Elizabeth Hammond commented on her appointment, "Having spent my
professional career working with broadcasting entities, I was attracted
to Nexstar Broadcasting given its demonstrated record of success, the
quality of its management team and its commitment to industry innovation
and growth. I look forward to working with Perry and the Nexstar team to
support the Company’s achievement of its current and future growth
objectives.”
Ms. Hammond earned a B.B.A. in 1987 from the University of Texas and
received her J.D. from George Washington University School of Law in
1996. Ms. Hammond resides in Dallas, Texas and is a member of the Texas,
District of Columbia, American and Federal Communications Bar
Associations. She is also currently serving as Treasurer on the National
Board of the American Women in Radio & Television, Inc. and its sister
Foundation.
About Nexstar Broadcasting Group, Inc.
Upon completion of the WCWJ-TV transaction, Nexstar Broadcasting Group
will own, operate, program or provide 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
Statements in this news release which are not purely historical facts,
including statements about forecasted financial projections (such as
changes in net revenue) or other statements about anticipations,
beliefs, expectations, hopes, intentions or strategies in the future,
may be forward-looking statements within the meaning of Section 27A of
the Securities Act of 1933, as amended and Section 21E of the Securities
Exchange Act of 1934, as amended. Such forward-looking statements
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, including our most recent Annual Report on Form 10-K.
