1. Nexstar Media preempts 'Jimmy Kimmel Live!' due to insensitive comments. 2. The decision aims to encourage respectful dialogue in their markets. 3. Kimmel's show is available on Disney-owned streaming platforms. 4. Nexstar focuses on local news programming during the preemption. 5. They manage over 200 stations, reaching 220 million people.
The preemption is a response to sensitive societal issues; however, it likely won't drastically impact revenue. Historical precedents show that network-level responses typically have neutral market impacts.
This development reflects Nexstar's commitment to corporate responsibility, which may appeal to specific investors. Its immediate impact on advertising revenue or viewership will likely be moderate.
The effects of this decision are immediate but likely will not last. A change in viewer sentiment or advertiser response could quickly adjust perceptions post-incident.
Company Will Monitor the Show as it Returns to ABC
Nexstar Media Group, Inc. (NASDAQ:NXST), today announced that the company's owned and partner television stations affiliated with the ABC Television Network will continue to preempt "Jimmy Kimmel Live!"
We made a decision last week to preempt "Jimmy Kimmel Live!" following what ABC referred to as Mr. Kimmel's "ill-timed and insensitive" comments at a critical time in our national discourse. We stand by that decision pending assurance that all parties are committed to fostering an environment of respectful, constructive dialogue in the markets we serve. In the meantime, we note that "Jimmy Kimmel Live!" will be available nationwide on multiple Disney-owned streaming products, while our stations will focus on continuing to produce local news and other programming relevant to their respective markets.
About Nexstar Media Group, Inc.
Nexstar Media Group, Inc. (NASDAQ:NXST) is a leading diversified media company that produces and distributes engaging local and national news, sports and entertainment content across its television and digital platforms, including more than 316,000 hours of programming produced annually by its business units. Nexstar owns America's largest local television broadcasting group comprised of top network affiliates, with more than 200 owned or partner stations in 116 U.S. markets reaching 220 million people. Nexstar's national television properties include The CW, America's fifth major broadcast network, NewsNation, our national news network providing "News for All Americans," popular entertainment multicast networks Antenna TV and Rewind TV, and a 31.3% ownership stake in TV Food Network. The Company's portfolio of digital assets, including its local TV station websites, The Hill and NewsNationNow.com, are collectively a Top 10 U.S. digital news and information property. For more information, please visit nexstar.tv.
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MEDIA CONTACT:
Gary Weitman
EVP & Chief Communication Officer
972-373-8800
gweitman@nexstar.tv