As the Nexstar-Tegna merger continues to face legal battles amid antitrust concerns, Tegna’s C-Suite has seen the departure of several key executives.
Among those leaving the company are CFO Julie Heskett, Chief Strategy Officer Ed Busby and Chief Experience Officer Dhanusha Sivajee, an individual with knowledge told TheWrap.
The departures come just days after Tegna named former Fox Television Stations ad sales boss Patrick Paolini CEO, taking over for outgoing CEO and president Mike Steib, who has resigned all of his positions within the company.
Paolini’s hiring was announced on May 26, though the leadership shift doesn’t go into effect until June 1, when he will begin to oversee “daily operations, revenue-generating business strategies, local journalism and production, and growth initiatives.”
“We’re grateful to the departing Tegna leaders, who have chosen to resign from their roles, for their dedication and service to the company, its local television stations, and the communities they serve,” a Tegna spokesperson said in a statement. “Their contributions helped strengthen local journalism at a critical moment for our industry, as broadcasters face a dramatically changed media landscape dominated by trillion-dollar streaming platforms and Big Tech. The Nexstar-Tegna merger is about building on that work — ensuring local stations have the scale, investment, and resources needed to preserve trusted local journalism and successfully compete in the future.”
The leadership shakeups happen amid an uncertain time for the company as the the $6.2 billion merger was put on pause earlier this month by a federal judge’s preliminary injunction as a result of lawsuits filed by DirecTV and multiple state attorneys general.
At the time of the injuction, however, the deal had already closed in March after receiving approval from the FCC and the Department of Justice. Nexstar has since filed an expedited appeal request.
