Nexstar Acquires The Hill, a Leading Independent Political Digital Media Platform, for $130 Million - Seite 2

“The Hill acquisition presents the Company with a fast-growing and profitable political digital news platform. Jimmy Finkelstein, owner and Chairman of The Hill, has done a truly excellent job in creating a national brand with strong profitability. The Hill marks the second digital transaction under our ‘content first’ strategy, following the December 2020 acquisition of BestReviews, which is already benefiting from its incorporation into Nexstar’s digital network. Going forward, Nexstar will continue to focus on select strategic, accretive digital investments to complement, leverage and scale our content offerings.”

Karen Brophy, Nexstar Media Inc. President, Digital, added, “The Hill is a robust digital media platform with engaging content and products. Together with Nexstar, the combined digital network offers an extremely valuable, brand-safe environment for issue and other advertisers to reach a growing digital audience of informed, intent-oriented consumers. As the nation’s largest local broadcast and media company, Nexstar is ideally positioned to accelerate The Hill’s growth and further penetrate the massive political news market to grow audience share and drive increased content monetization.”

Jimmy Finkelstein, Chairman of The Hill, added, “It has been an honor to lead and transform The Hill into the premier news outlet that it is today. With the help of HRS Management, we have substantially grown the business and audience. We are confident that Nexstar will continue to accelerate this tremendous growth.”

Bret Pearlman of HRS Management, the largest investor in The Hill, commented, “We are pleased to have been investors in The Hill and partners with Mr. Finkelstein for the past five years as he and the Company’s management team transformed the business into a digital media powerhouse. With a strong foundation in place and unique offering in the market, we are confident that the future of the company is extremely bright.”

About Nexstar Media Group, Inc.

Nexstar Media Group, Inc. (NASDAQ: NXST) is a leading diversified media company that leverages localism to bring new services and value to consumers and advertisers through its traditional media, digital and mobile media platforms. Its wholly owned operating subsidiary, Nexstar Media Inc., consists of three divisions: Broadcasting, Digital, and Networks. The Broadcasting Division operates, programs, or provides sales and other services to 199 television stations and related digital multicast signals reaching 116 markets or approximately 39% of all U.S. television households (reflecting the FCC’s UHF discount). The division’s portfolio includes primary affiliates of NBC, CBS, ABC, FOX, MyNetworkTV and The CW. The Digital Division operates 120 local websites and 284 mobile apps offering hyper-local content and verticals for consumers and advertisers, allowing audiences to choose where, when and how they access content and creating new revenue opportunities for the company. The Networks Division operates NewsNation, formerly WGN America, a national news and entertainment cable network reaching 75 million television homes, multicast network Antenna TV, and WGN Radio in Chicago. Nexstar also owns a 31.3% ownership stake in TV Food Network, a top tier cable asset. For more information, please visit www.nexstar.tv.