Market Overview

Nexstar Media Group Declares Quarterly Cash Dividend of $0.30 Per Share

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Nexstar Media Group, Inc. (NASDAQ:NXST) announced today that its Board
of Directors declared a quarterly cash dividend of $0.30 per share of
its Class A common stock. The dividend is payable on Friday, May 26,
2017, to shareholders of record on Friday, May 12, 2017.

While the Company intends to pay regular quarterly cash dividends for
the foreseeable future, all subsequent dividends will be reviewed
quarterly and declared by the Board of Directors at its discretion.

About Nexstar Media Group, Inc.

Nexstar Media Group 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. Nexstar owns, operates, programs or provides sales and other
services to 170 television stations and related digital multicast
signals reaching 100 markets or approximately 39% of all U.S. television
households. Nexstar's portfolio includes primary affiliates of NBC, CBS,
ABC, FOX, MyNetworkTV and The CW. Nexstar's community portal websites
offer additional hyper-local content and verticals for consumers and
advertisers, allowing audiences to choose where, when and how they
access content while creating new revenue opportunities. For more
information please visit www.nexstar.tv.

Forward-Looking Statements

This communication includes forward-looking statements. We have based
these forward-looking statements on our current expectations and
projections about future events. Forward-looking statements include
information preceded by, followed by, or that includes the words
"guidance," "believes," "expects," "anticipates," "could," or similar
expressions. For these statements, Nexstar claims the protection of the
safe harbor for forward-looking statements contained in the Private
Securities Litigation Reform Act of 1995. The forward-looking statements
contained in this communication, concerning, among other things, future
financial performance, including changes in net revenue, cash flow and
operating expenses, involve risks and uncertainties, and are subject to
change based on various important factors, including the impact of
changes in national and regional economies, the ability to service and
refinance our outstanding debt, successful integration of acquired
television stations and digital businesses (including achievement of
synergies and cost reductions), pricing fluctuations in local and
national advertising, future regulatory actions and conditions in the
television stations' operating areas, competition from others in the
broadcast television markets, volatility in programming costs, the
effects of governmental regulation of broadcasting, industry
consolidation, technological developments and major world news events.
Nexstar undertakes no obligation to update or revise any forward-looking
statements, whether as a result of new information, future events or
otherwise. In light of these risks, uncertainties and assumptions, the
forward-looking events discussed in this communication might not occur.
You should not place undue reliance on these forward-looking statements,
which speak only as of the date of this release. For more details on
factors that could affect these expectations, please see Nexstar's other
filings with the SEC.

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