Fox Broadcasting And Nexstar Media Group Extend Affiliate Agreement, Adding OTT Distribution

The broadcast TV arm of 21st Century Fox Inc. said on Wednesday that it's entered into a new long-term affiliation agreement with local TV operator Nexstar Media Group Inc. . The agreement, which extends Fox programming to Nexstar's 17 full power and two low power stations through the end of 2019, also gives Nexstar over-the-top digital distribution capabilities. Nexstar Chief Executive Perry Sook said that Fox's programming, such as its NFL, MLB and NASCAR sports content, as well as scripted shows, including "Empire" and "The X-Files" are popular with Nexstar viewers. And the over-the-top master agreement includes agreements to launch on all internet streaming platforms already distributing Fox programming. "Our affiliation with Fox supports our goals for delivering great entertainment and information to viewers and advertisers anywhere, anytime and on any device, while creating a new revenue stream for Nexstar related to the OTT master agreement." Shares of Nexstar have fallen more than 4% in the year to date, while Fox shares have gained less than 1% and the S&P 500 index has gained more than 8%.