SINCLAIR BROADCAST AND NEXSTAR MEDIA ANNOUNCE AGREEMENT ON MARKET TRANSITION FROM ATSC 1.0 TO ATSC 3.0 “NEXTGEN” SERVICES
IRVING, Texas and BALTIMORE, Maryland – July 20, 2017 – In preparation for the approval of ATSC 3.0 by the Federal Communications Commission (“FCC”) as well as the implementation of national television station repacking, Sinclair Broadcast Group, Inc. (Nasdaq: SBGI) (“Sinclair”) and Nexstar Media Group, Inc. (Nasdaq: NXST) (“Nexstar”) (collectively “the Companies”) have reached a tentative agreement on principles to coordinate the transition of the over-the-air delivery of ATSC 3.0 “NextGen” television services in 97 television markets. The transition is a complicated process requiring coordination and cooperation between in-market television broadcasters. The tentative agreement — made pursuant to Companies’ previously announced Spectrum Consortium that promotes spectrum aggregation, innovation and monetization and enhance their abilities to compete in the wireless data transmission sector — includes 43 markets where both Companies own a television station, and a plan to spearhead the transition for shared “NextGen” services in the 54 markets where only one of the Companies owns or operates stations.
Read more…Press Release – ATSC 1 0 to ATSC 3 0_FINAL