Univision joins ATSC 3.0 exploitation consortiumThursday, June 1st, 2017
Univision Local Media Joins the Sinclair and Nexstar Consortium to Promote Broadcast Spectrum Aggregation, Innovation and Monetization
IRVING, Texas and BALTIMORE — Nexstar Media Group, Inc. (NASDAQ: NXST) (“Nexstar”) and Sinclair Broadcast Group, Inc. (Nasdaq: SBGI) (“Sinclair”), (together referred to as “the Parties”) announced today that Univision Local Media, Inc. (“Univision”) is now a party to the memorandum of understanding regarding the establishment of a consortium that will promote spectrum aggregation, innovation and monetization and enhance their abilities to compete in the wireless data transmission sector. The consortium, has agreed to collaborate on a non-exclusive basis and continues to welcome the inclusion of other television broadcasting entities. Together, Nexstar, Sinclair and Univision reach approximately 90% of the country.
The consortium, which was jointly announced by Nexstar and Sinclair in March, will promote innovation and develop and explore products and services associated with ATSC 3.0 and monetization opportunities such as spectrum utilization, virtual MVPD platforms, multicast channels, automotive applications, single frequency networks and wireless data applications, among others.
Perry A. Sook, Chairman, President and Chief Executive Officer of Nexstar Media Group, Inc. commented, “We are delighted to welcome Univision to the consortium to advance the industry’s benefits from the ATSC 3.0 broadcast standard. Univision shares our enthusiasm for the new technology which will allow our industry to continue to thrive in today’s multi-platform world. Their unparalleled reach to Hispanic America makes them a significant addition to the consortium and our collaborative efforts to advance the promotion of spectrum utilization, innovation and monetization, will enable us to bring its ground breaking benefits to broadcasters, viewers and advertisers.”
Chris Ripley, President and Chief Executive Officer of Sinclair Broadcast Group, Inc. added, “We are excited to add Univision to the consortium and achieve near complete coverage of the country. Univision’s addition to this partnership brings Spanish language broadcasters into the mix which will be able to benefit from the many 3.0 products and services that are on the horizon.”
“We are encouraged by the leadership that Nexstar and Sinclair have shown in advancing the new ATSC 3.0 standard for our industry,” said John Eck, EVP and Chief Local Media Officer at Univision. “We look forward to partnering with them to identify new content and distribution opportunities that maximize the value of our broadcast spectrum and provide meaningful benefit to consumers and advertisers.”