Verizon Signs TV Retransmission Agreement with Nexstar Broadcasting

Press Release - June 16, 2007

Verizon Communications has reached a multi-year retransmission agreement with Nexstar Broadcasting Group, an Irving, Texas-based media company which owns 47 TV stations across the United States.

Through this deal, Verizon has gained non-exclusive permission to transmit Nexstar’s content over its FiOS fiber optic television network. The telecom giant will begin by offering local FOX affiliate, WFFT, in Ft. Wayne, Indiana, by the end of the summer.

“We believe that this agreement means greater choice for viewers and reflects the evolving importance of locally produced video content to platform distributors,” commented Nexstar president and CEO, Perry Sook. “Along with the launch of our new media initiatives over the last year, our retransmission consent agreements have created significant and growing value from our platform. We continue to evaluate additional opportunities to derive value from our content with other new and emerging technologies.”