Ron Romines, the general manager of its properties in Albany, N.Y., is tapped to fill a newly created position overseeing Nexstar’s television and digital media operations in select markets.
Nexstar Media Group announced today that it will offer up to $1.12 billion in new senior notes due 2027 to pay for its purchase of Tribune Media. On Nov. 30, 2018, Nexstar and Tribune Media entered into a definitive merger agreement whereby Nexstar will acquire all outstanding shares of Tribune. Nexstar said it “intends to […]
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.
Retrans was the chief contributor to the station group’s top line in the first quarter, accounting for just over half the company’s total $626.6 milllion in revenue. That reflects continued strong retrans growth, up 13.8% in the quarter. Spot and digital, both down the in quarter, account for 40.4% and 8.4% of total revenue, respectively.
The increase to $626.6 million is driven by a 13.8% rise in retransmission consent money to $314 million.
Nexstar Media Group’s board of directors declared a quarterly cash dividend of $0.45 per share of its Class A common stock. The dividend is payable on Friday, May 24, to shareholders of record on Friday, May 10.
The new syndicated talk show now has been sold in 90% of the U.S. for a Sept. 16 launch.
The case represents a tragic failure of FCC policy. The FCC is supposed to increase pluralism and diversity among broadcast license holders. Instead, it looks to have acted to advance the political views of then-Chairman Tom Wheeler.
The agreement with DuJuan McCoy’s new Circle City Broadcasting I marks the completion of Nexstar’s divestiture plan to secure approvals for its Tribune Media purchase. The total gross proceeds from the planned sale of the 21 stations being divested amounts to $1.36 billion.