Led by Perry Sook, Nexstar has been from its inception in 1996 a voracious consolidator. When it closes on Tribune Media later this year, it will operate 216 stations in 118 markets covering 63% of U.S. TV homes, the most allowed under current FCC rules.
TVNewsCheck today named Nexstar Media Group as its Station Group of the Year for 2019, recognizing its ascendancy to the top of broadcasting charts by nearly all measures.
Led by founder-CEO Perry Sook, Nexstar has been from its inception in 1996 a voracious consolidator, scooping up stations in a non-stop series of deals. When it closes on Tribune Media later this year, it will operate 216 stations in 118 markets covering 63% of U.S. TV homes, the most it is allowed under current FCC rules.
“This was an easy call and somewhat overdue” said TVNewsCheck Editor Harry A. Jessell. “Sook’s Nexstar has not only achieved great scale, but has demonstrated how to use it. It was a leader in demanding cash for carriage from cable and satellite operators. The retrans revenue has transformed the basic broadcasting business model and sustained its high-margin profitability.
“Nexstar has been good to its investors, rebounding strongly from the 2008-09 recession. The stock price has grown 10-fold since then, topping the $100 mark this year.”
Nexstar is the sixth recipient of the Station Group of the Year honor. The past honorees are Fox Television Stations (2018), Scripps (2017), Gray (2016), Raycom (2015) and Sinclair (2014).
The Station Group of the Year Award will be presented at the TVNewsCheck’s TV2020 Conference on Oct. 16. Each year, TV2020 is held in conjunction with the NAB Show New York at the Javits Center.