Many of the big cigars in media management will tell you that the Sook-led revolta high-stakes game of chicken against Cox Cablewas a definitive moment for the CEO, Nexstar, and the entire media industry. I think our Clippers deal with Steve Ballmer and the Clippers putting a group of games on broadcast exclusively to expose that to the part of the market that is not inside the pay-TV universe kind of broke the seal. To that end, we have recently appointed experienced sales and advertising executive, Michael Strober to the newly created position of EVP and Chief Revenue Officer responsible for leading the execution of a new advertising sales and go-to-market strategy for the company, which is designed to accelerate the monetization of our platform with a focus on the national advertising opportunity which is roughly double the size of the local advertising market that Nexstar has predominantly served historically. So your leverage is really just your local content, your local news. Jon has been business editor of Broadcasting+Cable since 2010. In each of those cycles since 2010, they gave at least two-thirds of the money to Republicans. In addition to posting another blockbuster year of financial results, Nexstar achieved a number of strategic and operational accomplishments that are positioning our company for future growth while enabling us to continue delivering the financial performance, cash flows and shareholder returns that investors have come to expect from Nexstar. Extended our network affiliation agreements with ABC. Your comments about (inaudible) drawing attention to the CW. People may receive compensation for some links to products and services on this website. I want my commission salespeople to be the, Nexstars $7.1 billion purchase of Tribune Media changed everything. Perry A. Sook, the Founder, Chairman, President and CEO of Nexstar Broadcasting Group, Inc. (NXST) Interviews with the Wall Street Transcript HOME MAIL NEWS FINANCE SPORTS ENTERTAINMENT LIFE. Finally, Nexstar continues to lead the industry in total deployment of ATSC 3.0 or NextGen TV with markets reaching approximately 35% of the U.S. households, and we have a goal of reaching 50% of the U.S. populations with ATSC 3.0 signals via our stations by the end of this year. We also have multiple organic growth drivers, including NewsNation, the CW and ATSC 3.0 that are being positioned to generate material growth for Nexstar in the future. The CBS white feed, if you will, yes, you probably can see that game on that feed. Tribune has another connection to Obama in Edward Lazarus, Tribunes Executive Vice President and Chief Strategy Officer. Despite the trends, we continue to expect to see spending in this category, albeit at a more modest clip. Ray Cole, Charles Ryan, Ernest Liebre, Phillip Lombardo 4. Thank you very much for your participation, and have a good day. At the Nexstar level, we see the CW as instrumental to our ability to unlock the national advertising opportunity I discussed just a moment ago. If you continue to use this site we will assume that you are happy with it. Perry Sook, CEO, Nexstar Broadcasting Group. And then on the reverse side, is there any change there to kind of the outlook that you gave a few months back? Many Americans rely on stations owned by companies like Sinclair, Tribune Media and Nexstar Media Group to stay informed on local politics. And just another one, just on political, I know it's obviously early for '24, but I mean you have a really broad platform, and we've seen some creative ways that others have kind of attacked it with either CTV partnerships or what have you. Our strong free cash flow enables us not only to increase the percentage of capital return to shareholders in the form of dividends but also allows us to continue to opportunistically repurchase shares as well as reduce debt and pursue other strategic opportunities to further enhance shareholder value. And are making choices and maybe moving some of that spending and you're seeing higher net worth customers showing up at Walmart to buy some -- buy their basic items. Before I dive into my usual financial discussion, I wanted to take a minute to step back and discuss a few changes in our financial presentation that we've been foreshadowing. Because we have designated to CW with an unrestricted subsidiary, the losses associated with the CW are not accounted for in our calculation of leverage for purposes of our credit agreement. Later that summer, Fox45 covered Van Hollens visit to a Texas border patrol processing center. Watch for more news articles, provided throughout the day courtesy of TradingCharts (The film was produced in part by StarWing Sports Management, which represents Sinner. But more reliance on unscripted, but a higher quality of unscripted, a higher profile, something that's maybe a little bit more noisy that will get some attention and get some eyeballs. Certainly, sports is 1 avenue that has never been pursued there before. The station had just one camera guy, and he was responsible for filming all commercials. Cash interest expense was $100 million for the quarter and $323.6 million for the year, slightly lower than our $326 million expectation at the last call due to the impact of the -- of actual versus projected yield curve and debt repayment. The pressure to perform and remain at the top once you're there? Sources tell FTVLive that CBS will decline running the Saudi-backed LIV Golf Tour on the CW stations that CBS owns. His shoulders are big and broad and more befitting an NFL tight end than a 62-year-old CEO. ), Deb Fischer (R-Neb.) Third, we are already making progress with the CW, not only to bring the network to profitability but to create value for the entire Nexstar enterprise as a result of the acquisition. I didn't give a specific, but it will be higher than the revenue growth. And given the weighting of those numbers, we see, again, kind of a low single-digit decline year-over-year is what we're forecasting currently. We anticipate being active in the debate business as we were in 2020. IRVING, Texas After a 36-year career in broadcasting, including the last 20 with Nexstar, Timothy C. Busch, Nexstar's president of Broadcasting, will retire as of June 1. Their political giving has since plummeted to $13,034 by 2018, all but $500 of which went to Democrats. Perry A. Sook; Founder, Chairman & CEO; Nexstar Media Group, Inc. Thomas E. Carter; President & COO; Nexstar Media Group, Inc. Barton Evans Crockett; MD & Senior Internet Media Analyst;. Perry Sook says that in addition to a strong trending political segment, "approximately half of our television advertising categories are pacing up for the third quarter." . He found the perfect candidate for such an arrangement just down the road in Wilkes-Barre, in the form of WBRE-TV. We've seen a number of RSN groups now kind of get into a period of change. Sook, who was born in DuBois, Pennsylvania, and earned a degree from the Scripps College of Communication at Ohio University, certainly looks the part. Its a publicly-traded company on the Nasdaq under the ticker symbol NXST. Nexstar operates traditional media as well as digital and mobile media platforms. So it will be a record year. We had two separate studios for local news, two different on-air staffs, and two separate sales forces. I'll first read the safe harbor language, and then we'll get right into the call. In summary, our record 2022 financial results reflected continued performance across our key near-term growth areas, including distribution, political advertising, new local direct advertising and digital with even more to drive growth ahead of us. Meanwhile, Ad Fontes, a media watchdog organization, rated NewsNation Now in the middle for bias and as Reliable, Analysis/Fact Reporting for reliability. Are your MVPDs kind of happy to pay you a higher affiliate fee for the CW now that you're pairing it with broadcast stations or any other kind of context you could put around that statement and whether or not that's been an incremental surprise or that was always part of the thinking when you bought the CW? Tom? But to put it in perspective, excluding revenue we generated from the carriage of NewsNation, which Nexstar negotiate separately, less than 10% of our gross distribution revenue is derived from virtual MVPDs. And between our stations and our paid media, it's approximately $100 million investment through the balance of the year that will attempt to raise our profile, raise our awareness level and continue to expose what I feel is the top-tier level of talent that we have on the network. Please go ahead. During commercial breaks, Id have to get up and adjust my own camera, he says. Thank you. I appreciate that. Perry Sook The CW's New Owner, Nexstar Media, Updates Investors On "Offensive And Defensive" Reasons For Its Acquisition Of The Broadcast Network 31 January 2023 Deadline CW's Scripted Shows To Drop From 11 To Less Than 5, Report Says 11 January 2023 Screen Rant So far in Q1 of '23, we're seeing similar results to what we saw in the fourth quarter with this revenue category. The host would criticize other media outlets for their coverage of then-President Bush, once going so far as to say that terrorist leaders would dearly love to see President Bush replaced with Senator (John) Kerry.. That's helpful. I'll go back to what Tom said in his prepared remarks is that total virtual MVPD revenue is approximately 10% of our distribution revenue. Its important that we never lose sight of that, he says. He is largely credited with forging in 1998 what was the first shared services agreement among American television stations. And if there's any way to kind of, I don't know, directionally size the impact of LIV Golf, just so we have a sense of what these kind of deals could be helpful. Theres a lot going on in the country that just doesnt happen in New York or D.C. or Los Angeles, he says. The only time we had video of what was going on in town was if there was a car wreck or a house fire, Sook says. Our capital allocation priorities remain focused on value-enhancing organic initiatives in our business, accretive M&A, modest deleveraging and shareholder returns through a mix of dividends and share repurchases. Its not that his work has gone totally unappreciated. Before being recruited to run Seaway, he worked in the television industry as a General Sales Manager, acting General Manager and National Sales Manager. His name is Trump. Second, we continue to make significant progress building out NewsNation, America's fastest-growing cable news network. Sook did his undergraduate work at Ohio University in Athens, OH and was an adjunct professor at Edinboro State University of Pennsylvania.He and his wife Sandra have three children: Laura, Victoria and Perry, Jr. Angeles, he says links to products and services on this website Texas border patrol processing.! Since plummeted to $ 13,034 by 2018, all but $ 500 of which to... 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