nexstar media group owner

Nexstar said in its earnings release that it will proceed with its plans to launch a primetime national newscast, News Nation.
Mr. Miller began his career in the entertainment and tax department of the law firm of Manatt, Phelps, Rothenberg and Tunney. While at ABRY, Mr. Grossman has led numerous transactions throughout the media sector. Based in Irving, TX, Nexstar trades on NASDAQ under the symbol NXST.

[37], On March 13, 2014, Nexstar announced that it would purchase Internet Broadcasting, for $20 million. “With the increase of cross platform campaigns, stations are looking to use impressions rather than percentages for comparability across platforms. Nexstar Media, the largest television station owner and operator in the U.S., ... How Do Nexstar Media Group’s Fundamentals Look In Recent Years? If Media General agreed to the counteroffer within a 20-day period, Nexstar would expand its portfolio to 114 television stations, pending spinoffs in markets where both own stations and federal approval.
Her professional background includes 20+ years in sales and business development, operations, finance and planning in growth and emerging stage businesses at, Frito-Lay, American Airlines, AT&T and Sodexo. Perry A. Sook has over 39 years of professional experience in the television and radio broadcasting industries, covering all facets of the business, including ownership and M&A, management, sales, on-air talent, and news. Charter of the Audit Committee

[43] The sale was completed on January 31, 2017. Mr. Miller has also served as Nexstar’s chairman of the comp committee since October 2020. The nation’s largest owner of television stations said it intends to drop the use of traditional TV ratings as the basis for advertising deals, and will instead work to tell sponsors about the number of people watching its programs in aggregate, no matter if they use a living-room screen or mobile device. Nexstar Media Charitable Foundation and WTRF-TV Donate $10,000 To Wheeling Health Right Inc. Nexstar Inc. Television Stations Receive Four National Edward R. Murrow Awards for Outstanding Journalism and Exceptionally Produced Local Content; Nexstar Inc. Get the full list », You’re viewing 5 of 41 investments and acquisitions. Nexstar Media Group, Inc. is a publicly traded American telecommunications company with headquarter offices in Irving, Texas, New York City, and Chicago. Coupled with a growing portfolio of digital media marketing, advertising and content management platforms, Nexstar delivers powerful and innovative digital solutions and services to local and national media companies, advertisers, agencies and brands. Subscribe to Deadline Breaking News Alerts and keep your inbox happy. The divestitures will allow Nexstar to comply with FCC ownership rules (specifically pertaining to national market coverage for station owners) in advance of the approval proceedings of the merger of both groups (Nexstar already owns NBC affiliate WTWO and operates ABC affiliate WAWV-TV in Terre Haute, and plans to acquire Media General-owned CBS affiliate WANE-TV in Fort Wayne). Web-based video is often sold based on audience impressions, rather than the ratings that have long dominated talk about how much commercial time in a TV show is worth.

The company also accused Nexstar of using the divestiture of stations to a minority-owned broadcaster as a token to gain FCC approval for the associated acquisitions. [17][18] Nexstar would purchase KRBK in late 2018, restoring its ownership of the Fox affiliation in the Springfield, Missouri market. Diluted earnings per share of $3.30 easily beat analysts’ expectation for $2.86. [31][32], On May 27, 2016, Nexstar announced the sales of five stations.

Total revenue in the quarter ending March 31 was $1.09 billion, edging consensus estimates for $1.07 billion. [5] Nexstar promptly fired two beloved anchors and laid off several long-term staff members. Send us a tip using our annonymous form.

Per share, shareholders of Media General would receive $10.50 in cash and 0.0898 shares of Nexstar, a total equivalent of $14.50 per share.

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