Nexstar Elects C. Thomas McMillen To Board
Nexstar Broadcasting Group today elected C. Thomas McMillen to serve on its board of directors, to replace Royce Yudkoff who has resigned his position on the board.
McMillen has more than 27 years of political, business and sports experience and leadership and is currently the chairman-CEO of Washington Capital Advisors, an investment firm. He is also a director of the RCS Capital., a publicly traded investment bank and broker-dealer and serves on the advisory board of Clean Energy Systems, a clean coal technology firm, Integrity Global Security, a cyber security firm and the Association for Rare Earth.
During his career, McMillen has been an active investor, principal, and board member in companies in the cellular telephone, paging, health care, motorcycle, environmental technology, broadcasting, real estate and insurance industries.
From 2010 to 2012, McMillen was the sole member and manager of NVT License Holdings (New Vision Television), which was the indirect parent and controlling entity of several other limited liability companies that owned eight full-power and two low-power television stations in eight different television markets.
McMillen served three consecutive terms in the U.S. House of Representatives from the Fourth Congressional District of Maryland from 1987 to 1993. In Congress, McMillen served on the Banking, Finance and Urban Affairs Committee, the Energy and Commerce Committee and the Science, Space and Technology Committee. He was unanimously elected as President of the Democratic freshman class of the 100th Congress.
Perry A. Sook, chairman, president-CEO of Nexstar Broadcasting Group, commented on the appointment” “Tom brings a diverse range of relevant industry and political and legislative experience to the Nexstar Broadcasting board. He has an impressive record of accomplishment as a congressman and in the telecommunications industry and has distinguished career in sports both as a competitor and as an advocate for physical fitness. We look forward to benefiting from his experience and knowledge as we continue to pursue strategies to further broaden the reach and diversify of our operations by delivering exceptional local and network programming and online content and service in our markets for the benefit of viewers while creating an even stronger marketing platform for local businesses.
McMillen added: “This is an exciting opportunity for me to join the board of directors of a leading television broadcaster that is committed to its viewers and the local markets it serves while developing new and innovative initiatives to expand its digital media operations. I look forward to contributing to Nexstar’s continued success.”
McMillen attended the University of Maryland where he was a three-time All-American in basketball, an academic All-American, and was a member of the 1972 Olympic basketball team. He graduated with a Bachelor of Science degree in chemistry and is the first and only University of Maryland student to be awarded a Rhodes Scholarship, on which he received a Bachelor and Master of Arts in politics, philosophy and economics from Oxford University in 1978.
McMillen subsequently played for 11 years in the NBA, with the New York Knicks, the Atlanta Hawks and the Washington Bullets (now Washington Wizards). He retired from the NBA in 1986 when he was elected to Congress.
Nexstar also announced that effective July 1, the board of directors’ nominating and governance committee will be expanded to three directors from two directors, with McMillen and current director Jay M. Grossman joining committee chair, I. Martin Pompadur.
Current director Geoff Armstrong will resign from the nominating and governance committee and will continue to serve as the chair of the board’s compensation committee and as a member of the board’s audit committee.