Nexstar isn’t “allergic” to the idea of purchasing another linear broadcast network. That’s what chairman and CEO Perry Sook told investors during the company’s fourth quarter earnings call for 2023 on Wednesday.
“In theory, we could own a big four cast network in addition to the CW. I think we would say, ‘Never say never.’ But it would have to be, like everything else we’ve ever bought, an actionable transaction at a value that would make sense for us,” Sook said. “We would not have an allergic reaction to having that discussion.”
This is in line with what Dennis Miller, president of the CW Network, told TheWrap during the Television Critics Association’s 2024 winter tour.
“When you look at what Nexstar represents, when you look at what the other networks represent, there is no restriction on owning two networks here in the marketplace,” Miller said. “I think the regulatory market and the financial interest rate market, there’s a lot of friction in the system. But we’re really well positioned for any reconfiguring of the tectonic plates out there. And we all agree there’s going to be reconfiguring on the tectonic plates. I really like our set of assets in this quickly changing marketplace.”
This question of Nexstar potentially expanding its reach in broadcast comes as linear TV assets are becoming viewed more and more of a liability due to their decrease in ratings. According to reports, executives close to Disney head Bob Iger have pressured him to sell the company’s linear assets last summer. (For his part, Iger remains committed to linear. That was most recently evidenced by Disney’s mass advertising push and Super Bowl spot for the FX miniseries “Shogun.”)
Questions of ditching linear have also emerged around Paramount. The major media company is currently facing risk of a possible credit downgrade and has been the subject of rumors about being sold.
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