Nexstar Media Group will continue to be run by CEO Perry A. Sook, whose contract has been extended through March 2029.
The chairman founded the media group in 1996 and is also its third-largest shareholder. Nexstar has since become America’s largest TV affiliate owner.
“As we embark on this next phase of growth for Nexstar, I have never been more energized about the prospects for the industry, for Nexstar and for what Nexstar can become,” Sook said in a Thursday statement. “I look forward to leading the Company to new levels of success and continuing to create value for our shareholders, our advertisers, our employees and the communities we serve.”
“The Board is delighted to extend Perry’s employment agreement at this pivotal moment for Nexstar and the local broadcast television industry,” Nexstar’s Board of Directors Compensation Committee chair Jay M. Grossman added. “Perry’s vision, commitment and deep understanding of the media landscape have been instrumental in driving Nexstar’s strong and consistent record of operating execution, financial growth and shareholder returns.”
“The proposed acquisition of TEGNA represents the next chapter in Nexstar’s growth story and with Perry’s unmatched experience and track record of success in broadcast M&A, he is uniquely qualified to deliver the full value we expect for shareholders, as well as the local communities we serve,” he continued. “On behalf of the entire Board of Directors, we are deeply grateful for Perry’s exceptional leadership and continued commitment to our viewers, advertising clients, team members, shareholders and all stakeholders.”
Sook’s contract extension notably comes a month after Nexstar took part in Jimmy Kimmel’s suspension from ABC, pulling the late night host from its affiliate channels due to his coverage of Charlie Kirk’s assassination. The comedian has since been reinstated nationwide.
