3. NEXSTAR BROADCASTING GROUP
3. NEXSTAR BROADCASTING GROUP, Dallas
2015 Spot Revenue: $1.421 billion Stations: 171 in 100 markets Coverage: 39% Ownership: Nexstar Broadcasting Group Inc. (NASDAQ: NXST) Key Executives: Perry A. Sook, chairman-president-CEO; Timothy Busch, EVP/co-COO; Brian Jones, EVP-co-COO; Tom Carter, EVP-CFO; Tom O’Brien, EVP digital media and chief revenue officer.
What’s Up: The past year was a busy one for Nexstar. Not long after news broke last September that Media General planned on buying Meredith Corp. for $3.1 billion, Nexstar jumped in with an offer for Media General. After months of back-and-forth, Media General agreed in January to a $4.6 billion offer from Nexstar that included a $60 million termination fee to Meredith.
On May 27, Nexstar announced the sale of five stations in four markets to keep it in compliance with the FCC’s ownership cap. The Media General deal, still awaiting FCC approval, moves Nexstar from 13th place on last year’s Top 30 to No. 3 this year.