Nexstar's CEO Perry Sook Is Sticking Around Until 2029!

Big news in the media world! Nexstar Media Group, the folks behind a ton of local TV stations and even The CW, just extended CEO Perry Sook's contract through March 2029. This means he'll be leading the charge through some major growth, including a massive acquisition.

TL;DR

• Perry Sook, Nexstar's founder and CEO, has extended his employment agreement through March 31, 2029.
• He'll be guiding Nexstar through its proposed $6.2 billion acquisition of rival station group Tegna, expected to close in late 2026.
• Sook, who founded the company in 1996, also previously navigated Nexstar through a high-profile controversy involving the temporary pre-emption of "Jimmy Kimmel Live!"

Alright, fellow media enthusiasts, let's talk about a major player who's decided to keep the ball rolling for quite a while. Perry Sook, the long-standing Chairman and CEO of Nexstar Media Group, has officially extended his contract. Yep, you heard that right – he's staying at the helm through March 31, 2029. This isn't just a routine re-up; it signals a big commitment as Nexstar continues to shape the landscape of local and national television.

The Man Behind the Media Empire: Who is Perry Sook?

For those unfamiliar, Perry Sook isn't just any executive; he's the visionary who founded Nexstar Media Group back in 1996. Think about that for a second: he's been leading this company since its inception, building it from the ground up to become the largest U.S. broadcast TV station group. Today, Nexstar boasts an impressive portfolio of just over 200 owned or partner stations spread across 116 U.S. markets. That’s a massive footprint, reaching an estimated 220 million people!

And if you thought he was just a hired gun, think again. Sook is also the company's third-largest shareholder, owning 5.8% of Nexstar's shares as of earlier this year. This isn't just a job for him; it's his baby. His compensation package in 2024 was a cool $35.9 million, which included a hefty $27.7 million in stock awards and a $3.2 million cash bonus. Clearly, the board believes in his leadership, and his 23% raise from the previous year only underscores that confidence.

During his tenure, Sook has been a busy bee, orchestrating and integrating more than 40 acquisitions. That's a lot of growing! And it seems like Nexstar isn't done expanding yet...

Massive Expansion Plans: The Tegna Acquisition and FCC Hurdles

The contract extension couldn't come at a more crucial time. Nexstar has its eyes set on getting even bigger, and they've got a massive deal on the table: the proposed acquisition of rival station group Tegna. This isn't small potatoes; we're talking about a $6.2 billion agreement that would add 64 stations to Nexstar's already extensive network. Imagine the reach!

However, this colossal deal isn't a done deal just yet. It's expected to close in the second half of 2026, but it needs to clear some significant regulatory hurdles first. Specifically, the Federal Communications Commission (FCC) would need to lift its current station ownership cap, which prevents broadcasters from reaching more than 39% of the national audience. This is where Sook’s "unmatched experience and track record of success in broadcast M&A" (as quoted by Jay Grossman, chairman of Nexstar's compensation committee) becomes absolutely vital. The board clearly trusts him to navigate these complex waters and deliver the expected value for shareholders and the communities Nexstar serves.

As Sook himself put it, "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. 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." That's a man ready for the challenge!

"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. 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."

— Perry Sook, Chairman and CEO of Nexstar Media Group

Recalling the "Jimmy Kimmel Live!" Controversy: A Test of Leadership

It hasn't always been smooth sailing for Nexstar under Sook's leadership, but his ability to navigate rough waters is part of his proven track record. Recently, Nexstar found itself in the headlines for its decision to temporarily pre-empt "Jimmy Kimmel Live!" on its ABC affiliates. The reason? Comments Kimmel made regarding the MAGA movement's alleged attempts to score political points from Charlie Kirk's assassination.

This move was widely seen by some as an attempt to curry favor with FCC Chairman Brendan Carr, who had vociferously criticized Kimmel's remarks and even hinted that local TV stations could lose their broadcast licenses if Kimmel wasn't taken off the air. However, Nexstar firmly denied that Carr's threats influenced their decision. They argued they were exercising their "duty to program in the public interest" as FCC licensees and stated that "no one has an unlimited right to say whatever they want on a talk show."

Just three days later, after what Nexstar described as a "constructive approach to addressing our concerns" from Disney (ABC's parent company), "Jimmy Kimmel Live!" was reinstated on Nexstar's affiliates (and by Sinclair, who also boycotted the show). This episode highlighted the delicate balance media groups must strike between content, public interest, and regulatory pressures, a balance Sook successfully managed to restore.

Nexstar's Diverse Media Portfolio: Beyond Local TV

While Nexstar is best known for its extensive network of local broadcast stations, its reach extends far beyond that. The company owns a variety of national television properties that might surprise you:

• The CW: This is the U.S.'s No. 5 broadcast network, known for its popular lineup of dramas and youth-oriented programming.
• NewsNation: A national cable news channel that aims to provide unbiased news coverage.
• Multicast Networks: This includes Antenna TV and Rewind TV, offering classic programming.
• TV Food Network: Nexstar holds a significant 31.3% ownership stake in this popular culinary channel.

On the digital front, Nexstar is also a powerhouse. Its local TV station websites, combined with the political news outlet The Hill and NewsNationNow.com, make its digital assets among the Top 10 U.S. digital news properties. This diversified portfolio means that Sook’s leadership impacts everything from your local evening news to national entertainment and political commentary.

Looking Ahead: What Does Sook's Extension Mean for Viewers?

For us, the viewers, Perry Sook's extended tenure means a continuation of Nexstar's current strategic direction. Expect more growth, especially if the Tegna deal goes through, which could mean an even wider network of local news and programming. It also signals stability at the top of a major media conglomerate, which can be a good thing for consistent content delivery across their many platforms.

The company's focus on "creating value for our shareholders, our advertisers, our employees and the communities we serve" suggests that while business growth is key, local relevance and community engagement remain central to their mission. So, whether you're tuning into The CW for your favorite show, watching your local news, or catching up on politics with The Hill, Perry Sook's influence will continue to be felt across a vast array of media channels for years to come.

It's an exciting, and sometimes turbulent, time in the media industry, and having an experienced hand like Sook at the wheel through 2029 definitely sets a clear course for Nexstar.

FAQ: Your Burning Questions About Nexstar and Perry Sook Answered

What is Nexstar Media Group and what do they own?

Nexstar Media Group is the largest U.S. broadcast TV station group, owning or partnering with over 200 stations in 116 U.S. markets. Beyond local TV, they own The CW (a broadcast network), NewsNation (a cable news channel), multicast networks like Antenna TV and Rewind TV, and have a 31.3% stake in TV Food Network. Their digital assets include local TV station websites, The Hill, and NewsNationNow.com.

Who is Perry Sook and what is his role at Nexstar?

Perry Sook is the founder, Chairman, and CEO of Nexstar Media Group. He established the company in 1996 and has served as CEO ever since, leading its significant growth, including over 40 acquisitions. He is also the company's third-largest shareholder and has now extended his contract through March 31, 2029.

What is the Tegna acquisition, and when is it expected to close?

The Tegna acquisition is Nexstar's proposed $6.2 billion agreement to buy rival station group Tegna, which has 64 stations. This deal would significantly expand Nexstar's reach. It is expected to close in the second half of 2026, pending crucial regulatory approvals from the FCC, which would need to lift its current station ownership cap.

Why was "Jimmy Kimmel Live!" temporarily pulled from Nexstar affiliates?

Nexstar temporarily pre-empted "Jimmy Kimmel Live!" on its ABC affiliates due to comments Kimmel made about the MAGA movement's attempts to score political points from Charlie Kirk's assassination. While some saw it as an attempt to appease FCC Chairman Brendan Carr (who criticized Kimmel's remarks), Nexstar stated it was exercising its "duty to program in the public interest" and that no one has an "unlimited right" on a talk show. The show was reinstated after three days following a "constructive approach" from Disney.

Sources

• Variety: Nexstar Extends CEO Perry Sook’s Contract Through 2029
• TheWrap: Nexstar Founder Perry Sook to Stay on as CEO Through 2029
• Barrett Media: Nexstar Media Group Signs CEO Perry Sook to Multi-Year Contract Extension
• TVNewsCheck: Nexstar Media Group Extends CEO Perry Sook’s Contract
• The Hollywood Reporter: Nexstar Extends CEO Perry Sook’s Contract Into 2029
• TipRanks: Nexstar Media Extends CEO Perry Sook’s Contract