Profile: Nexstar Broadcasting Group, Inc. (NXST.O)

Nexstar Broadcasting Group, Inc. (Nexstar) is a television broadcasting company focused on the acquisition, development and operation of television stations in medium-sized markets in the United States. As of December 31, 2008, the Company owned and operated 32 stations, and provided sales or other services to an additional 18 stations that are owned by Mission Broadcasting, Inc. (Mission) and other entities. In 18 of the 29 markets that Nexstar serves, it owns, operates, programs or provides sales and other services to more than one station. The Company refers to these markets as duopoly markets. The stations that Nexstar owns, operates, programs or provides sales and other services to are in markets located in New York, Pennsylvania, Illinois, Indiana, Missouri, Texas, Louisiana, Arkansas, Alabama, Montana and Maryland. These stations are diverse in their network affiliations, 45 have primary affiliation agreements with one of the four networks; 14 with FOX, 13 with NBC, nine with ABC and nine with CBS. Four of the remaining five stations have agreements with MyNetworkTV and one station has an agreement with The CW.

The stations the Company owns and operates or provides services to provide free over-the-air programming to its markets’ television viewing audiences. This programming includes programs produced by networks, with which the stations are affiliated; programs that the stations produce, and first-run and rerun syndicated programs that the stations acquire. s

Nexstar’s primary source of revenue is the sale of commercial air time to local and national advertisers. The stations it owned, operated, programmed or provided sales and other services to as of December 31, 2008, included Washington, DC/Hagerstown, Maryland; Harrisburg-Lancaster-Lebanon-York, Pennsylvania; Wilkes Barre-Scranton, Pennsylvania; Little Rock-Pine Bluff, Arkansas; Springfield, Missouri, Champaign-Springfield-Decatur, Illinois, Shreveport, Louisiana, Ft. Smith-Fayetteville- Springdale-Rogers, Arkansas, Johnstown-Altoona, Pennsylvania, Evansville, Indiana, Ft. Wayne, Indiana, Peoria-Bloomington, Illinois, Amarillo, Texas, Lubbock, Texas, Wichita Falls, Texas -Lawton, Oklahoma, Erie, Pennsylvania, Joplin, Missouri-Pittsburg, KS, Terre Haute, Indiana, Odessa-Midland, Texas, Abilene-Sweetwater, Texas, Utica, New York, Billings, Montana, Dothan, AL, San Angelo, Texas and St. Joseph, Missouri.