Nexstar Media Group extended Chairman and CEO Perry Sook’s employment agreement through March 31, 2029, following a prior extension that carried the agreement through 2026.
The extension signals board confidence and provides continuity as the company pursues growth initiatives, including the expansion of The CW, the launch of NewsNation, and the rollout of ATSC 3.0 NextGen TV.
Nexstar posted strong Q3 2024 results, reporting net revenue of $1.37 billion, up 20.7% year‑over‑year, net income of $180 million, up from $8 million in the same quarter a year earlier, and adjusted EBITDA of $510 million, up 82.8% from Q3 2023.
Strategic initiatives under Sook include expanding The CW, which Nexstar acquired a 75% stake in 2022 and is targeting profitability by 2025; reducing losses at the network by $36 million year‑over‑year in Q3 2024; launching NewsNation; and advancing the NextGen TV transition. The company is also negotiating a $6.2 billion acquisition of TEGNA, expected to close in 2026.
The extension coincides with a new $1.5 billion share repurchase authorization and a quarterly dividend of $1.86 per share payable November 26, 2025, underscoring Nexstar’s commitment to shareholder returns.
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