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Brief history of the NKJV from Wikipedia:
"The NKJV translation project, which was conceived by Arthur Farstad, was inaugurated in 1975 with two meetings (Nashville and Chicago) of 68 interested persons, most of them prominent Baptists but also including some conservative Presbyterians. The men who were invited to these meetings prepared the guidelines for the NKJV. The New Testament was published in 1979, the Psalms in 1980, and the full NKJV Bible in 1982.
The aim of its translators was to update the vocabulary and grammar of the King James Version, while preserving the classic style and beauty of the 1611 version. Although it uses substantially the same Hebrew and Greek texts as the original KJV, it indicates where more commonly accepted manuscripts differ."
Below is the publisher’s brief statement on the NKJV:
