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.
The question of who will end up owning Cleveland Fox affiliate WJW-TV should be settled soon, but “soon” could mean a couple of days, weeks or months. The key is how fast government regulatory agencies will move on necessary approvals, and that is never easy to predict.
Executives from AT&T and Nexstar Media Group met over the weekend, but the nearly two-week long blackout of about 120 stations continues. The talks continue but there has been no agreement yet, according to an AT&T spokesperson. Negotiations will continue this week, a Nexstar spokesman added.
AT&T is looking to make sure local viewers have access to emergency weather information, and at the same time remove an issue raised by a U.S. senator from weather-plagued Louisiana related to an ongoing carriage impasse with Nexstar.
It looks like AT&T’s DirecTV and Uverse customers will have to wait at least another day for the possible resolution of the week-long retransmission consent battle between the pay TV giant and Nexstar Media Group.
The broadcaster says AT&T/DirecTV’s actions contrast sharply with its public commentary and cites eight broadcast groups currently without carriage resulting in a loss of service to consumers in 13 U.S. markets.
With the financial pressure on system operators, pitted against need for broadcasters to eventually achieve parity with the most-watched cable networks, retrans fights and blackouts are bound to sometimes happen. The sad reality is that in the short term everyone loses. Viewers lose their favorite programs, stations lose news viewers, DirecTV loses subscribers and station general managers lose their minds.
Both Graham and Nexstar have openings in their respective corporate headquarters in Chicago and Dallas for a chief technology officer and a senior vice president of local content development.
Many DirecTV and AT&T U-verse subs awoke Thursday to find that Nexstar stations were no longer available. The broadcaster claims the stations were “abruptly removed” by the distributor, while AT&T said it had hoped to prevent a blackout and “even offered Nexstar more money to keep their stations available.”
For the second straight year, shareholders have rejected a multimillion-dollar pay package for the CEO of the largest owner of television stations in the nation. At issue was $41.4 million in future stock awards to Nexstar Media Group CEO Perry A. Sook under a four-year contract extension he signed in January.
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.
Dismiss, deny and reject. That was Nexstar and Tribune’s advice to the FCC related to the various parties that petitioned the FCC to block their merger as not in the public interest. They were responding to petitions to deny filed six groups and concerns raised by NCTA—The Internet & Television Association and the American Television Alliance, both of which said that without various conditions the deal should be denied.
A black-owned TV company sued Nexstar Media Group on Wednesday, accusing the company of sabotaging its efforts to operate independently. Marshall Broadcasting Group owns three Fox affiliates in Odessa, Texas; Shreveport, La.; and Davenport, Iowa. The company, owned by Pluria Marshall Jr., bought the stations from Nexstar in 2014, as Nexstar was looking to divest in order to win FCC approval for a series of acquisitions.
With the new broadcast that will launch this fall, Nexstar’s Indianapolis CW affil will provide 75 hours of local news and programming per week.
The spinoffs reflect Nexstar’s regulatory compliance plan to secure approvals for its Tribune Media deal. Tegna is buying 11 stations in eight markets and Scripps gets eight stations in seven markets.
Rupert Murdoch’s Fox has decided not to bid for a group of television stations being sold by Nexstar Media Group, according to a person familiar with the situation. The company, which will be spun out of a separate deal with Walt Disney Co. next week, is focusing instead on getting better terms on the deals it has with affiliate stations, said the person, who asked not to be identified because the deliberations are private.
Peter Kern, Tribune chief executive officer, said: “We’re extremely pleased with today’s vote. We look forward to continuing our work with Nexstar to obtain the necessary regulatory approvals that will enable us to close this transaction later this year.”
Nexstar, which is expected to become the industry’s largest station group when it closes on its merger with Tribune this fall, said that for the first time in its two-decade history, “non-TV revenue” from retransmission consent and digital will exceed that from TV advertising.
Political was the star, helped by increased retransmission fee and digital revenue. In fact, combined digital and retrans rev for the first time topped TV ad revenue. CEO Perry Sook: “Our inventory management and pricing strategies enabled us to maximize our share of election spending … and exceed our full-year political advertising revenue guidance. Fourth quarter television ad revenue inclusive of political advertising grew 38.9%.”
Nexstar has identified three stations it plans to sell and 11 other markets where it intends to divest stations so that its acquisition of Tribune Media can obtain regulatory approvals. The first stations going on the block are WTKR Norfolk, Va.; WGNT Portsmouth, Va,; and WNEP Scranton/Wilkes-Barre, Pa.
The broadcaster declares a quarterly cash dividend of $0.45 per share. The Increase marks sixth annual consecutive rise in cash dividends.
Retransmission negotiations between TDS Telecom and Nexstar Media Group are not going well, TDS’s CEO said as a channel blackout on TDS systems continued into day 16. More than 50,000 TDS customers in eight states are affected, without access to channels including ABC, CBS and Fox in certain markets.
The station group extends the contract of its founder, chairman, president and CEO in the wake of its $4.1 billion acquisition of Tribune Media.
Terri Lynn Bush is promoted to associate counsel and SVP of human resources while Charles W. Pautsch is named associate counsel and VP of labor and employment relations.
Nexstar Media Group, currently winding through the approval process for its $6.4 billion purchase of Tribune Media, is fighting retransmission consent battles with two small operators, TDS Telecom and Antietam Broadband, primarily over pricing disputes.
Perry Sook, the CEO of Texas-based Nexstar Media Group, is a seasoned broadcast TV executive who steered Nexstar’s $4.1 billion acquisition of Tribune Media that will make it the largest owner of TV stations in the country. He is passionately preaching the gospel of local.
Nexstar Media Group on Tuesday promote Tammy Blumhagen to vice president and general manager of KXMB (CBS), KXMC (CBS), KXMD (CBS), KXMA (CW) and associated digital services, serving Minot, Bismarck, Dickinson and Williston, N.D. (DMA 146). Prior to her promotion, she most recently was director of sales at Nexstar’s central and western North Dakota television and […]
Nexstar Media Group has reached an agreement to acquire Tribune Media for about $4.1 billion, a deal which would make it the largest local U.S. TV station operator, people familiar with the matter said on Sunday.