IRVING, Texas–(BUSINESS WIRE)–Tonight at 12 p.m. ET, Verizon FiOS removed from its cable systems the network and local community programming provided to nearly three million of its subscribers by 13 local television stations owned by Nexstar Media Inc., a subsidiary wholly owned by Nexstar Media Group, Inc. (Nasdaq: NXST) (“Nexstar”). Verizon FiOS refuses to enter into a new distribution agreement allowing the cable company the right to continue carrying the popular programming on local Nexstar stations. As a result, millions of Americans across the country have lost local news, traffic, weather, sports and entertainment broadcasts as well as critical and up-to-date information regarding the midterm elections and hurricanes. possible in the South and on the East Coast, as well as college and NFL football this weekend. In addition, Verizon FiOS also removed Nexstar’s nationwide cable news network, NewsNationfrom its cable systems, denying subscribers access to news and analysis from shows such as “Cuomo,” “Dan Abrams Live” and “Banfield.”
Nexstar has negotiated tirelessly and in good faith in an attempt to reach a mutually acceptable multi-year contract with Verizon FiOS, offering the same fair market rates it has offered to other major channel partners with whom it has negotiated. successful at the start of this year. Nexstar regularly enters into out-of-court retransmission and carriage agreements with its cable, satellite and telecommunications partners. In the past three years alone, the company has successfully entered into agreements with over 500 distribution partners.
As a result of Verizon FiOS actions, subscribers in 10 Nexstar markets, including New York, Philadelphia, Providence and Buffalo, have lost access to thousands of hours of vitally important local news, right now. where the country is gearing up for midterm elections that could determine the balance of power in Congress and the winter storm season is hitting. Additionally, as a result of Verizon FiOS actions, subscribers will not be able to view this weekend’s college football and NFL games, and all entertainment programming provided by network partners from Nexstar, CBS, FOX, NBC, ABC, The CW and MonNet. If the service outage continues for an extended period, Verizon FiOS subscribers may lose access to the NFL Playoffs. Viewers in Nexstar markets are urged to call Verizon FiOS and request refunds to compensate them for the loss of this much-loved, valuable programming.
Nexstar remains hopeful that a resolution can be reached quickly to return viewers to their favorite network programming, NFL football, in-depth local news and other local content relevant to their communities, as well as emergency updates. reviews for which Verizon FiOS charges its subscribers.
Consumers and viewers affected by the outage can call Verizon FiOS at 888/553-1555.
About Nexstar Media Group, Inc.
Nexstar Media Group, Inc. (NASDAQ: NXST) is a leading diversified media company that produces and distributes engaging local and national news, sports and entertainment content across television, streaming and online platforms. digital media, including nearly 300,000 hours of original video content each year. Nexstar has America’s largest local broadcast group comprised of major affiliate networks, with 200 owned or partnered stations in 116 US markets reaching 212 million people. Nexstar’s national television properties include The CW, America’s fifth-largest broadcast network, NewsNation, America’s fastest growing national cable news and entertainment network, reaching 70 million TV households , popular entertainment multicast networks Antenna TV and Rewind TV, and a 31.3% stake in TV Food Network. The company’s portfolio of digital assets, including The Hill and BestReviews, is collectively among the top 10 digital news and information properties in the United States. In addition to providing exceptional content and service to our communities, Nexstar offers cross-platform advertising and high-end video-on-demand opportunities at scale for businesses and brands looking to leverage the strong consumer engagement of our compelling content offering. For more information, visit Nexstar.tv.