Nexstar Broadcasting’s New and Renewed Retransmission Consent Agreements to Generate More Than $75 Million in Revenue

Nexstar Broadcasting Group, Inc. (Nasdaq: NXST) announced today that it renewed and reached new multi-year retransmission consent agreements with 179 cable operators, direct broadcast satellite providers and telcos. The retransmission agreements are expected to generate more than $75 million in revenue to Nexstar over the life of the agreements, with approximately one third of the revenue to be realized in 2009.

Perry A. Sook, Chairman, President and Chief Executive Officer of Nexstar Broadcasting Group, Inc., commented, "In late 2005, Nexstar emerged as an industry pioneer in the negotiation of retransmission consent agreements. The original agreements, primarily three to four years in length, called for revenue to Nexstar of about $50 million over their term. In 2008, Nexstar reported that 47% of the contract dollars represented by the original agreements, or approximately $23.5 million, were up for renegotiation. As such, the more than $75 million in revenue to be derived from the new retransmission consent agreements represents extraordinary growth over both the original agreements and the anticipated levels of renewal.”

In the first nine months of 2008 (ended September 30), Nexstar recorded approximately $15.5 million of revenue related to retransmission consent agreements, a 23% rise over the levels achieved during the same period in 2007.

Mr. Sook added, "Nexstar has several additional retransmission agreements which will be re-negotiated in 2009 and we expect further upside to the annualized run rate of our retransmission revenue stream in future years.”

About Nexstar Broadcasting Group, Inc.

Upon the completion of announced transactions, Nexstar Broadcasting Group will own, operate, program or provide sales and other services to 52 television stations in 30 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 pro-forma for the completion of all announced transactions, reaches approximately 10 million U.S. television households or approximately 8.8% of all U.S. television households.

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