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Nexstar Broadcasting Group, Inc. (Nasdaq:NXST) announced today that the Board of Directors has elected C. Thomas McMillen to serve on the Company’s Board of Directors, as a Class I Director, to replace Royce Yudkoff who has resigned his position on the Board. Mr. McMillen satisfies the standards for director independence under the applicable rules of the SEC and the NASDAQ as well as the Company’s Corporate Governance Guidelines. Reflecting the changes, Nexstar’s Board continues to have seven members, six of whom satisfy the standards for director independence under NASDAQ listing rules.
C. Thomas McMillen has over 27 years of political, business and sports experience and leadership and is currently the Chairman and Chief Executive Officer of Washington Capital Advisors, an investment firm. He is also a director of the RCS Capital., a publicly traded investment bank and broker-dealer and serves on the advisory board of Clean Energy Systems, a clean coal technology firm, Integrity Global Security, a cyber security firm and the Association for Rare Earth. During his career, Mr. McMillen has been an active investor, principal, and board member in companies in the cellular telephone, paging, health care, motorcycle, environmental technology, broadcasting, real estate and insurance industries. From 2010 to 2012, Mr. McMillen was the sole member and manager of NVT License Holdings, LLC, (New Vision Television) a Delaware limited liability company, which was the indirect parent and controlling entity of several other limited liability companies which held the Federal Communications Commission licenses for eight full power and two low power television stations in eight different television markets.
Mr. McMillen served three consecutive terms in the U.S. House of Representatives from the Fourth Congressional District of Maryland from 1987 to 1993, and was named by President Clinton to co-chair of the President’s Council on Physical Fitness and Sports in 1993, a position he held until December 1997. Mr. McMillen began his involvement with the Council in 1970 as a high school senior when he was selected by President Nixon to become the youngest member of the Council. From May 2011 to July 2013, he served as the Chairman of the National Foundation on Physical, Fitness, Sports and Nutrition, a Congressionally authorized foundation that Mr. McMillen founded where he currently serves as Treasurer. In Congress, Mr. McMillen served on the Banking, Finance and Urban Affairs Committee, the Energy and Commerce Committee and the Science, Space and Technology Committee. He was unanimously elected as President of the Democratic freshman class of the 100th Congress. He served as Chairman of the Congressional Chesapeake Bay Caucus, Co-Chairman of the Congressional Biotechnology Caucus, and Vice-Chairman of the Federal Government Task Force.