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Nexstar Broadcasting And Mission Broadcasting Announce Launch Of Tender Offer And Consent Solicitation Of 8.875% Senior Secured Second Lien Notes Due 2017

Nexstar Broadcasting Group, Inc. (NASDAQ: NXST) (the “Company”) announced today that its wholly-owned subsidiary, Nexstar Broadcasting, Inc. (“Nexstar Broadcasting”) and Mission Broadcasting, Inc. (“Mission” and together with Nexstar Broadcasting, the “Issuers”), have commenced a cash tender offer and consent solicitation with respect to the Issuers’ outstanding $325,000,000 aggregate principal amount of 8.875% Senior Secured Second Lien Notes due 2017 (the “Notes”). The tender offer and consent solicitation is being made subject to the terms and conditions set forth in an Offer to Purchase and Consent Solicitation Statement and a related Letter of Instructions, each dated as of September 17, 2013, which more fully sets forth the terms and conditions of the tender offer and consent solicitation. The tender offer and consent solicitation will expire at Midnight, New York City time, on October 15, 2013, unless extended or earlier terminated by the Issuers (the “Expiration Time”).

Holders who validly tender (and do not validly withdraw) their Notes on or prior to the consent payment deadline of 5:00 p.m., New York City time, on September 30, 2013 (the “Consent Payment Deadline”), and whose Notes are accepted for payment, will receive total consideration equal to $1,088.75 per $1,000 principal amount of the Notes (the “Total Consideration”), plus any accrued and unpaid interest on the Notes up to, but not including, the first settlement date. The Total Consideration includes a consent payment of $30.00 per $1,000 principal amount of the Notes. Following payment for the Notes accepted pursuant to the terms of the tender offer, the Issuers currently intend, but are not obligated, to redeem any and all Notes that remain outstanding. This tender offer does not constitute a notice of redemption or an obligation to issue a notice of redemption.

Holders who validly tender (and do not validly withdraw) their Notes after the Consent Payment Deadline, but on or prior to the Expiration Time, and whose Notes are accepted for payment, will receive the tender consideration equal to $1,058.75 per $1,000 principal amount of the Notes (the “Tender Consideration”), plus any accrued and unpaid interest on the Notes up to, but not including, the final settlement date. Holders of Notes who tender after the Consent Payment Deadline will not receive a consent payment.

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