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Nexstar Broadcasting Third Quarter Net Revenue Rises 39.8% To A Record $125.8 Million

The notes were priced at 100.250%, plus accrued interest from May 15, 2013. The notes are senior unsecured obligations of Nexstar Broadcasting and will be guaranteed by Nexstar, Mission and all of Nexstar Broadcasting and Mission’s future domestic restricted subsidiaries on a senior unsecured basis. Nexstar Broadcasting and Mission used the net proceeds from the offering, together with the proceeds from a $150 million increase to its and Mission’s term loans under the existing senior secured credit facilities and cash on hand, to commence a tender offer for any and all of its and Mission’s outstanding 8.875% Senior Secured Second Lien Notes due 2017, to fund the proposed acquisition of five television stations in four markets from Citadel Communications, L.P. and Stainless Broadcasting, L.P., to pay related fees and expenses and for general corporate purposes.

Tender Offer

On October 16, 2013 Nexstar Broadcasting Group announced the expiration and final results of the cash tender offer and consent solicitation by Nexstar Broadcasting and Mission to purchase any and all of their outstanding $314.6 million aggregate principal amount of 8.875% Senior Secured Second Lien Notes due 2017. On October 1, 2013, the Issuers made a payment in cash for the $292,688,000 aggregate principal amount of the Notes that were tendered before the Expiration Date of the tender offer. As a result, a total of approximately $21.9 million in aggregate principal of the Notes remains outstanding. The Issuers have issued an irrevocable notice to redeem all of the remaining Notes outstanding on November 16, 2013 in accordance with the provisions of the indenture governing the Notes and to satisfy and discharge the indenture.

Third Quarter Conference Call

Nexstar will host a conference call at 10:00 a.m. ET today. Senior management will discuss the financial results and host a question and answer session. The dial in number for the audio conference call is 719/325-2495, conference ID 5729203 (domestic and international callers). In addition, a live audio webcast of the call will be accessible to the public on Nexstar’s web site, and a recording of the webcast will be archived on the site for 90 days following the live event.

Definitions and Disclosures Regarding non-GAAP Financial Information

Broadcast cash flow is calculated as income from operations, plus corporate expenses, depreciation, amortization of intangible assets and broadcast rights (excluding barter) and loss (gain) on asset disposal, net, minus broadcast rights payments.

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