Nexstar's CEO Perry Sook Stays at the Helm Through 2029

Perry Sook, the long-standing leader and founder of Nexstar Media Group, has just inked a new deal, extending his run as Chairman and CEO through March 2029. This is huge news for the broadcasting giant, especially with a massive acquisition on the horizon!

TL;DR

• Perry Sook has extended his contract as Nexstar's Chairman and CEO through March 31, 2029.
• Sook founded Nexstar in 1996 and has overseen over 40 acquisitions, growing it into America's largest local TV station group.
• This extension comes as Nexstar is pushing for a significant $6.2 billion acquisition of Tegna, a deal that would reshape the U.S. broadcast landscape.

A Decade More of Leadership: Perry Sook Continues at Nexstar

Big news just hit the airwaves from Nexstar Media Group! Perry Sook, the visionary who founded the company and has steered its ship for decades, is officially extending his contract as Chairman and CEO through March 31, 2029. This isn't just a routine corporate announcement; it signals continued stability and an aggressive growth strategy for the largest U.S. broadcast TV station group.

Sook isn't just the CEO; he's also a significant player in Nexstar's ownership, holding the title of the company's third-largest shareholder. His roots with Nexstar run deep, having founded the Irving, Texas-based company back in 1996. From a single radio station (according to one source, though others just say he founded the company), he's built an empire that now boasts over 200 owned or partner stations spread across 116 U.S. markets, reaching an incredible 220 million people.

Behind the Growth: A History of Strategic Acquisitions

Sook's tenure has been marked by remarkable expansion, a testament to his "vision, commitment and deep understanding of the media landscape," as highlighted by Jay Grossman, chairman of Nexstar's board compensation committee. Under his leadership, Nexstar has completed and integrated more than 40 acquisitions. This isn't just about buying up stations; it's about strategically building a diversified media powerhouse.

Nexstar's national portfolio is pretty impressive, too. They own The CW, which is America's fifth-largest broadcast network, and the national news channel NewsNation. They also have popular entertainment multicast networks like Antenna TV and Rewind TV, and even hold a 31.3% ownership stake in the well-known TV Food Network. On the digital front, their assets include local TV station websites, the political news outlet The Hill, and NewsNationNow.com, collectively ranking among the top 10 U.S. digital news and information properties.

The Tegna Deal: A Game-Changer on the Horizon

This contract extension couldn't come at a more "pivotal moment," as Grossman noted. Nexstar is currently in the midst of its most ambitious move yet: a proposed $6.2 billion agreement to acquire rival station group Tegna. This deal, announced in August, would add another 64 stations to Nexstar's already massive footprint.

If the Tegna acquisition gets the green light, Nexstar's station portfolio would potentially reach an astounding 80% of the U.S. audience. This is where things get a bit complicated, as it far exceeds the current regulatory cap on station ownership, which limits broadcasters to reaching no more than 39% of the national audience. Sook and other local TV execs have been actively pushing the FCC to lift this cap, a move that might even require Congressional action. The deal is expected to close in the second half of 2026, pending those crucial regulatory approvals.

"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

Recent Headlines: The Jimmy Kimmel Controversy

It hasn't been all smooth sailing for Nexstar. The company found itself in the national spotlight recently over its decision to temporarily pre-empt Jimmy Kimmel's late-night show on its ABC affiliates. This move was prompted by comments Kimmel made about the MAGA movement's attempts to score political points following what the sources describe as "Charlie Kirk's assassination."

The situation drew criticism, with FCC Chairman Brendan Carr vigorously criticizing Kimmel's remarks and even suggesting local TV stations could lose their broadcast licenses if Kimmel wasn't taken off the air. However, Nexstar denied that Carr's threats influenced their decision, stating they were exercising their "duty to program in the public interest" as FCC licensees. Sook, along with president/COO Mike Biard, even released a memo defending the action, asserting, "No one has an unlimited right to say whatever they want on a talk show." Just three days later, after Disney execs took a "constructive approach to addressing our concerns," Kimmel's show was back on Nexstar's airwaves, as it was on Sinclair's, another group that had boycotted Kimmel over the remarks.

Compensation and Future Outlook for the Media Giant

Leadership at this level comes with significant recognition. In 2024, Perry Sook's compensation package was worth a hefty $35.9 million, marking a 23% increase from the previous year. This included substantial stock awards valued at $27.7 million and a $3.2 million cash bonus.

The board's confidence in Sook is clear. Jay Grossman emphasized that Sook's "unmatched experience and track record of success in broadcast M&A" make him uniquely qualified to navigate the complexities of the Tegna deal and "deliver the full value we expect for shareholders, as well as the local communities we serve." As Nexstar gears up for what could be its most transformative period yet, Sook's continued leadership is seen as crucial for maintaining its strong operating execution and financial growth.

FAQs About Nexstar and Perry Sook Who is Perry Sook? Perry Sook is the founder, Chairman, and CEO of Nexstar Media Group. He has led the company since its inception in 1996 and is also its third-largest shareholder. He recently extended his contract through March 2029. What is Nexstar Media Group? Nexstar Media Group is the largest U.S. broadcast TV station group, operating over 200 stations in 116 markets. Its national properties include The CW network, NewsNation, Antenna TV, Rewind TV, The Hill, and a 31.3% stake in TV Food Network. What is the Tegna acquisition? Nexstar has an agreement to acquire rival station group Tegna for $6.2 billion. This deal would add 64 stations and significantly expand Nexstar's reach, but it requires regulatory approval, potentially necessitating a change to current FCC station ownership caps. What was the recent controversy involving Jimmy Kimmel and Nexstar? Nexstar temporarily pulled "Jimmy Kimmel Live!" from its ABC affiliates following comments Kimmel made about the MAGA movement and "Charlie Kirk's assassination." Nexstar stated it was fulfilling its "duty to program in the public interest" amidst pressure from FCC Chairman Brendan Carr. Kimmel's show was reinstated after three days. Sources

• Variety: Nexstar Extends CEO Perry Sook’s Contract Through 2029
• Deadline: Nexstar Media Group Extends CEO Perry Sook’s Contract Through March 2029
• Business Wire: Nexstar Media Group Extends Employment Agreement of Chairman and Chief Executive Officer, Perry A. Sook, Through March 2029
• Barrett Media: Nexstar Media Group Signs CEO Perry Sook to Multi-Year Contract Extension
• TipRanks: Nexstar Media Extends CEO Perry Sook’s Contract
• NCS: Nexstar extends CEO Perry Sook’s contract through March 2029
• TVNewsCheck: Nexstar Media Group Extends CEO Perry Sook’s Contract
• The Hollywood Reporter: Nexstar Extends CEO Perry Sook’s Contract Into 2029