The company saw sequential month-over-month core advertising improvement from April to May, May to June — “and this trend is continuing in July,” according to CEO Perry Sook.
That represents a 40.9% jump from 2Q 2019, boosted by its purchase of Tribune Media. Looking ahead, CEO Core ad revenue grew 11.4% and political ad money shot up 583% to $21.6 million.
Nexstar Media Group announced today that its board of directors declared a quarterly cash dividend of $0.56 per share of its Class A common stock. The dividend is payable on Friday, Aug. 21, to shareholders of record on Friday, Aug. 7. Nexstar said that while it intends to pay regular quarterly cash dividends for the foreseeable future, all subsequent dividends will be reviewed quarterly and declared by the board of directors at its discretion.
Nexstar’s primetime national newscast launches Sept. 1. Anchors Joe Donlon and Marni Hughes, breaking news anchor Rob Nelson and meteorologist Albert Ramon will be drawing from Nexstar’s team of 5,400 journalists in 110 newsrooms across the U.S.
Powered by ATSC 3.0, Sinclair’s KSNV (NBC) and KVCW (CW), Nexstar’s KLAS (CBS) and Scripps’ KTNV (ABC) are now broadcasting with the new NextGen TV technology.
With users up 133% and page views up 250% in April from April 2019, Nexstar’s websites and apps now reach 36% of U.S. adults.
As states begin opening up, Nexstar CEO Perry Sook projects that the company will be profitable in every quarter of this year with a rebounding auto category and expected political spending among the reasons.
That represents a 74.2% jump from 1Q 2019, boosted by its purchase of Tribune Media. Looking ahead, CEO Perry Sook says: “While the coronavirus has presented serious challenges for the entire broadcast industry, Nexstar’s leading local broadcast platform is well positioned to withstand this environment due to several factors including continued growth of distribution revenue and what are projected to be record levels of political spending in 2020.”
Nexstar Media Group today announced that its board of directors declared a quarterly cash dividend of $0.56 per share of its Class A common stock. The dividend is payable on Friday, May 29, to shareholders of record on Friday, May 15.
Costs are inhibiting a flood of 4K sports production, but 1080p HDR offers numerous practical advantages, among them that the improvement in picture quality is more readily apparent to consumers than the gain from 4K resolution. Above, Sony tested an 8K camera at the Sony Open in Hawaii last year, but doesn’t expect 8K to be used for regular sports production for several years.
With coronavirus pushing numerous staffers into remote working situations, broadcasters are increasingly looking to exploit all of the remote functionality in their newsroom computer systems. Improved IP connectivity and better automation software is helping to make that happen.
The new multi-year agreement with the largest independent operator of CBS affiliates covers nine stations reaching approximately 3.5% of the U.S.
Stations from Meredith, Nexstar, Sinclair and Tegna have applied for FCC approval to launch NextGen TV in Oregon.
OTT and revived TV membership models were among the highlights of a local digital advertising conference that just managed to sneak in under the coronavirus wire.
A special news feed for Charter subscribers in Berkshire County, Mass., will be launched in the next 30 to 60 days and includes a dedicated journalist to provide regular coverage of issues affecting the various communities.
With the deals involving stations in Seattle, Milwaukee, and Charlotte, N.C., Fox Television Stations expands its footprint to 29 stations across the country. Nexstar says it will use the approximately $240 million of net after-tax proceeds from the deals to reduce borrowings under its credit facilities.
CEO Perry Sook reports 4Q growth in 16 of the station group’s 25 major ad categories that are regularly tracked. That translated to a 1.3% increase in same-station core advertising.
The increase to $0.56 per share marks the company’s seventh annual consecutive rise in cash dividend.
Nexstar CEO and President Perry Sook says leagues like the NBA may turn to broadcasters for their over-the-air advantage amid underperforming cable ratings, and that NextGen TV is the greatest tool a TV group can use “to control its destiny.” And he’s bullish about Nexstar’s biggest competitive advantage — its local news and sales forces.
The live, daily three-hour primetime News Nation will draw on the experience and in-market expertise of Nexstar’s 5,400 local journalists and 110 newsrooms across the country. Leading the effort is Jennifer Lyons as VP news of WGN America.
Nielsen will provide rating services for Nexstar’s 197 television stations, national unwired ratings, digital subchannels, Antenna TV and national distribution of WGN America.
Nexstar Media Group, today promoted two members of the company’s accounting department: Jason Gray is now VP and assistant corporate controller, and Mark Hoyla becomes VP of financial reporting. The promotions are effective immediately and both men will continue reporting to Patrick Cusick, Nexstar’s SVP and controller. “Jason and Mark are talented and deeply experienced, […]
Mediacom Communications said Tuesday evening it reached a retransmission consent deal with Nexstar Media Group, avoiding a blackout of the latter’s TV stations, since the old deal was scheduled to expire at midnight. Mediacom’s agreement comes hours after Nexstar reached similar retransmission consent deals with Comcast and Frontier Communications.
The owner of Fox affiliates KLJB Davenport, Iowa; KPEJ Odessa, Texas; and KMSS Shreveport, La., earlier this year sued Nexstar over SSA deals.
The new four-year deal covers 21 NBC affiliated television stations owned by Nexstar and Mission Broadcasting.
Nexstar will purchase Charlotte, N.C.’s Fox and MNT affiliates for approximately $45 million while Fox will buy Nexstar’s Seattle Fox and MNT affiliates and Milwaukee’s Fox affil for approximately $350 million.
Perry Sook (center), CEO of Nexstar Media Group, holds the Station Group of the Year Award for 2019 presented by TVNewsCheck on Wednesday during TVN’s TV2020 conference in New York. Sook is flanked by Kathy Haley, TVN publisher, and Harry Jessell, TVN editor. Nexstar was chosen in recognition of its ascendancy to the top of the broadcasting charts by nearly all measures. (Photo: Wendy Moger-Bross)
The Nexstar Media Group is TVNewsCheck’s Station Group of the Year for 2019. When it closed on its merger with Tribune last month, Nexstar Media Group became the nation’s largest station group by most measures. It operates in 115 markets in 43 states covering 63% of TV households — from Los Angeles (DMA 2) to San Angelo, Texas (DMA 195). But with the FCC blocking its path into new markets, it will have to find new ways to grow.
With little more than a love of broadcasting and burning entrepreneurial ambition, Perry Sook went forth from small-town Pennsylvania radio to build the largest TV station group in the land: Nexstar Media Group, TVNewsCheck’s Station Group of the Year.
The new agreement covers 31 stations owned, operated or for which Nexstar programs or provides services. The Fox affiliates that Nexstar is acquiring from Tribune will also be covered by new agreements immediately upon closing of the deal.
The SVP and regional manager of Nexstar Broadcasting is promoted to the newly created executive sales management position overseeing Nexstar’s sales, business development and revenue initiatives as it prepares to absorb the Tribune Media stations.
“It’s a goldilocks world,” Nexstar CEO Perry Sook said of core, which excludes political advertising. “It’s not too hot, it’s not too cold, it’s kind of plugging along.” And, he added, he sees no reason why the company’s double-digit annual retrans and net retrans growth should not continue for at least the next three years. “We see no change to the outlook or the ecosystem,”
The former NBC Owned Television Stations executive will oversee the company’s television and digital media local content initiatives and advancing the company’s multi-platform approach for its local news programming and content.
“Without the required divestitures, Nexstar’s merger with Tribune threatens significant competitive harm to cable and satellite TV subscribers and small businesses,” said antitrust chief Makan Delrahim. “I am pleased, however, that we have been able to reach a resolution of the division’s concerns, thanks in part to the parties’ commitment to engage in good faith settlement talks from the outset of our investigation.”
Matthew Rosenfeld and Traci Wilkinson are promoted to newly created regional management positions overseeing Nexstar’s television and digital media operations in select markets.