Nexstar Broadcasting Completes Redemption of Its Outstanding 16% Senior Discount Notes
IRVING, Texas (January 7, 2004) – Nexstar Broadcasting Group, Inc.
(Nasdaq: NXST) today announced that its wholly-owned subsidiary,
Nexstar Finance Holdings, Inc., redeemed all of its outstanding 16%
Senior Discount Notes due 2009 (CUSIP No. 65335BAB0). The aggregate
amount paid to the Note holders for the redemption, call premiums and
accrued interest through January 6th was $34.8 million.
About Nexstar Broadcasting Group, Inc.
Broadcasting Group owns, operates, programs or provides sales and other
services to 42 television stations in 26 markets in the states of
Illinois, Indiana, Maryland, Missouri, Montana, Texas, Pennsylvania,
Louisiana, Arkansas, Alabama and New York. Nexstar's television station
group includes affiliates of NBC, CBS, ABC, FOX and UPN, and reaches
approximately 7% of all U.S. television households.
Note Regarding Forward-Looking Statements
in this release that are "forward looking statements" are based upon
current expectations and assumptions, and involve certain risks and
uncertainties within the meaning of the U.S. Private Securities
Litigation Reform Act of 1995. Words or expressions such as "intends",
"expects," "expected," "anticipates" or variations of such words and
similar expressions are intended to identify such forward-looking
statements. Key risks are described in the Company's reports filed with
the Securities and Exchange Commission (SEC).
Readers should note
that these statements are subject to change and to inherent risks and
uncertainties, and may be impacted by several factors, including:
economic and regulatory changes, the loss of key personnel, a downturn
in the performance of our television stations, the Company's
substantial debt levels, and changes in the broadcast industry
generally. The Company's actual performance and results could differ
materially because of these factors and other factors discussed in more
detail in the Company's filings with the Securities and Exchange
Commission, including its registration statement on Form S-1, copies of
which can be obtained from the SEC, www.sec.gov, or the Company's website, www.nexstar.tv.
Unless legally required, the Company undertakes no obligation to revise
or update any forward-looking statements, whether as a result of new
information, future events or otherwise.