CEO Perry Sook says the addition of the cloud-based CMS services company is part of Nexstar’s “plan to strategically invest in and expand our digital media portfolio to serve a broad range of businesses and needs.”
Nexstar Buying Enterprise Technology Group
Nexstar Broadcasting Group today has purchased the stock of Enterprise Technology Group, a provider of cloud-based content management, engagement and monetization solutions. The acquisition adds new IP, technology and a team of developers that Nexstar said complements its current content management businesses, and was funded through internal sources.
ETG’s re-engineered platform uses the public cloud to provide publishers with a platform that offers client customizations along with enhanced responsive content management system capabilities. Enterprise Technology Group’s domestic and international clients include broadcasters, print publishers, brands and retailers, as it delivers “any screen” capabilities with respect to content creation, management, engagement and monetization.
Tom O’Brien, Nexstar Broadcasting Group EVP/digital media and chief revenue officer, commented: “ETG represents an excellent strategic fit with Nexstar’s current digital media portfolio. Combining their multi-screen, responsive technology with Nexstar’s existing digital platform and agency capabilities, from our Internet Broadcasting and Inergize Digital divisions, enables us to expand the range of “best of breed” content publishing and monetization tools that we can offer to power our clients’ digital media businesses.”
The company said the addition of ETG’s operations is expected to expand Nexstar’s digital business portfolio to approximately $50 million in annual run rate revenues.
Perry A. Sook, Nexstar chairman, president and CEO, added: “This is another step in our plan to strategically invest in and expand our digital media portfolio to serve a broad range of businesses and needs. By combining Nexstar’s technology offerings and capabilities with ETG’s, our holistic approach to content rendering, analytics and platform optimization will create revenue opportunities and deliver value across our existing digital media operations and to our growing client base, particularly those seeking cross-device CMS solutions.”