NEWS ANNOUNCEMENT For Immediate Release
NEXSTAR MEDIA GROUP AND SINCLAIR BROADCAST GROUP ESTABLISH CONSORTIUM TO PROMOTE BROADCAST SPECTRUM AGGREGATION, INNOVATION AND MONETIZATION
IRVING, Texas and BALTIMORE, Maryland – March 15, 2017 – Nexstar Media Group, Inc. (NASDAQ: NXST) (“Nexstar”) and Sinclair Broadcast Group, Inc. (Nasdaq: SBGI) (“Sinclair”), (together referred to as “the Parties”) announced today that they have entered into a memorandum of understanding regarding the establishment of a consortium that will promote spectrum aggregation, innovation and monetization and enhance their abilities to compete in the wireless data transmission sector. The consortium, which will be jointly owned and controlled equally by the founding Parties, has agreed to collaborate on a non-exclusive basis and the consortium is intent on exploring the inclusion of other television broadcasting entities. Nexstar and Sinclair are two of the largest and most diversified television broadcasting companies in the nation and collectively own and operate television stations reaching approximately 60% of the country.
Read more…NXST SBGI Consortium 3-15-17 FINAL