But not all of his travel is to major metros. Thats job one.. The rebrand hinges on a down-the-middle. And at that point, obviously, we're getting higher cost per thousands in news programming than we did in off-network programming. UPDATED: Nexstar, the largest TV station group, got a boost from midterm political ad spending as well as a rise in distribution and digital revenue in the second quarter. But I think to a certain extent, people want to see how the RSN plays out and what that means to them and then, therefore, how that influences their behavior going forward. '23 and '24 will benefit from new distribution agreements and as we've discussed, 2024 as the presidential election and big political year. Core advertising revenue was $478 million (down 3.3 percent year over year), while political advertising revenue was $266 million (up 1,307 percent). Meanwhile, Ad Fontes, a media watchdog organization, rated NewsNation Now in the middle for bias and as Reliable, Analysis/Fact Reporting for reliability. And obviously, with things like LIV Golf and other programming expansions, we're hoping to create more value so that we can ultimately extract more value as we go. And I assume you -- the initial bogey was to basically do better than you were with off-network sitcoms. Thomas Carter, the CFO, did the same. Well, no, I think I mentioned it in my comments that the growth in network affiliation is much more modest than our growth in retrans revenue. Perry A. Sook serves as Chairman of the Board, Chief Executive Officer of the Company. In the latest of my series of Legends & Leaders interviews with media industry leaders, Nexstar CEO Perry Sook shares context on the decision to convert WGN America to NewsNation, including details on how 198 Nexstar TV stations and 5,500 journalists feed, support and promote the fledgling news network. Early in his career, Mr. Sook was involved in local TV sales and radio sales. So were launching this year, a three-hour, live, primetime newscast, seven nights a week, on WGN America. Last quarter, you announced the Clippers deal. We have assumed no material M&A or other onetime or usual transaction these figures. Are those negotiations coming up at all? Democratic SenatorChris Van Hollen (Md.) meanwhile received $9,100. But I don't expect that anyone would sign on to a big contract until they had the chance to administer their tests. "I really,. You want to know what the distribution revenue was excluding the CW? Perry Sook currently serves as Nexstar's chairman and CEO. With respect to our free cash flow guidance, we've opted to use an attributable free cash flow figure that includes the cash flow of Nexstar and its interest in the Food Network and our attributable 75% interest in the losses of the CW and the related tax benefits of those losses. Since NewsNation brands itself as being one that reports the facts in an unbiased manner, many viewers were hopeful when the network launched in 2020. Both Blackburn and Arpaio have received lavish praise from President Trump. And so that means we have to go dark for a little while to make the point. Fox Board's Failure; McCarthy Pressed on Tucker Handout; Lord of the Studios The forward curve currently shows interest rates peaking in July and falling thereafter. So -- but I think if the public and private sector can sit down and talk about this holistically and kick around ideas, and I think that's coming. Witness, a nonprofit blog that tracks homicides. As a reminder, we typically spend less in CapEx in odd number nonpolitical years than political years. Listen Bloomberg. If you don't have the local stations, I think that should tell you everything you need to know about the leverage in the discussions. 20005. But we're very bullish on the prospects and think these things are in the queue and on the way. Moving back to Nexstar expenses. 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. Obviously, the simulcast requirement needs to sunset at some point and there needs to be a sunset of 1.0 and an endorsement of 3.0 as the new transmission standard. So, in our ads, we put the general manager of the cable companys home phone number so people could express their opinion, Sook says. Nationwide and locally, Nexstar is involved in over 1,600 community initiatives each year donating thousands of hours and helping to raise millions of dollars for worthy causes. Dr. Sandy Sook 3. He just want to know what the amount to CW. Open Secrets following the money in politics, OpenSecrets Following the money in politics. And then what was your retrans revenue if you just exclude the CW, what was that percent change including the hit, unfortunately, for the blackouts? Well, I think we gave that. Between the 2002 and 2018 cycles, Tribune gave generously to Michigan Republican Rep. Fred Upton, climbing from $1,000 in 2002, to $4,000 in 2008, then spiked again to $5,500 in 2012. Want first access to OpenSecrets' investigations and data features? Perry Sook, Nexstars CEO, gave $5,000 to the companys PAC in the 2014, 2016 and 2018 election cycles. Auto is likely a multiyear tailwind as we continue to push to normalization, which would require SAAR levels back in that 17-ish million dollar -- or million unit range back in pre-COVID era? Originally launched as a three-hour news block on the cable channel WGN America, Nexstar has rebranded the channel as NewsNation and plans to replace more of its off-net reruns with news, including a morning show launching in September. Thank you very much for your participation, and have a good day. Our total net leverage for Nexstar, excluding CW at quarter end, was 2.93x, down from 3.7x as of December 31, 2021, and 3.18% in Q3. They gave another $17,600 to John Boehner and $7,900 to Paul Ryan. The grade was part of a segment called Truth Test in which political ads are rated on their factual accuracy. NewsNation aired an interview with President Donald Trump in September 2020. Before starting at CRP, he wrote for the Hatchet, GWU's independent student newspaper, and covered murder trials for D.C. [53] The sale was completed on January 31, 2017. 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. Now you probably want to raise your sights in terms of the margins and the profitability you can generate with that station or the network. Sooks salary and bonus averages out to $7.5 million a year for 2017 and 2018. At 61, Perry Sook, CEO of TVNewsCheck's Station Group of the Year, Nexstar Media, has the look, the voice and demeanor the gravitas, some would say of a high-priced news anchor in a top market. We want to necessarily put our playbook out there, but I think you'll see as we move toward the upfront level and the programming schedule that gets -- that will be displayed and deployed for the fall. We continue to anticipate a low 9-figure investment and to achieve profitability by 2025. Now were obviously getting smaller rates because our ratings are smaller, Sook noted. I think our company as well as others in the industry have made the value judgment to do that. Political spending at Tribune peaked around 2000 when they gave $123,280, the majority of that to Republicans. Good luck on Tuesday! the host said as he concluded the interview. And I think you'll see, again, in 2023, some test cases and use cases that will be developed that again is -- we'll be seeing this forward progress in the development of ancillary revenues from NextGen TV spectrum. Well, I mean, we have revenues from our spectrum right now is primarily in the form of multicast revenue and leasing spectrum to people for their multicast distribution. Sook has just returned from eight days on the road, on business in California and Arizona. Blackburn got $5,700 and Arizona Senate candidate Joe Arpaio got $2,000. But, aside from their reporting, these organizations dabble directly in politics and elections more than one might expect. If Sook can pull that off, he will have one hell of a story to tell. Speaking on Nexstars second-quarter earnings call Wednesday, CEO Perry Sook said a year after its launch, few people know about NewsNation. Excluding the CW, digital revenue declined 6.5%. The linear television business is a fairly mature industry, and we wanted to be one of the leading consolidators, he explains. Perry Sook, Nexstar's Chairman and Chief Executive Officer, commented, "2022 was a monumental year for Nexstar as we generated $5.2 billion of . Thanks, Priscilla, and good morning, everyone. Or is it just like a national game on that national feed? Some of my most fun days, my best days, are when I go visit one of our local TV stations. Yourcentralvalley.com, a Nexstar site affiliated with NBC covering Fresno, California, ran a story about Kevin McCarthys claims that California Democrats had fallen out of touch with voters. The company is now the nations biggest player in local television. He founded Nexstar in 1996 with one local television station in Scranton, PA, and began building the foundation of what became one of the world's leading local marketing and content companies, leveraging localism to bring new services and value to consumers and advertisers across its traditional media, digital and mobile media platforms. Certainly, when you look at the power of The Hill, which is a national brand in concert with NewsNation, which is a national brand; and the strength of our local stations, which is the backbone of everything we do, I think you'll see all of that come together in a unified sales effort to highlight the opportunity available to us in 2024 and beyond. NewsNation, the subscription television network that was formerly called WGN America, claims to be an unbiased source of news for the country. The network's current lineup of TV hosts now include Elizabeth Vargas, Dan Abrams, Chris Cuomo, and Ashleigh Banfield. Under Nexstar Media Group is its subsidiary Nexstar Inc., which operates Broadcasting, Digital, and Networks divisions. In each of those cycles since 2010, they gave at least two-thirds of the money to Republicans. (The film was produced in part by StarWing Sports Management, which represents Sinner. The FCC Chairman Lazarus served under, Julius Genachowski, was nominated to the position by Obama in March 2009. Thank you. I just -- yes, please. I wondered what the next steps are. We anticipate being active in the debate business as we were in 2020. At the CW level, on the programming front, while we are locked into most programming for the '22, '23 broadcast season, we've already taken action to improve and diversify our content to better align with audiences through our exclusive multiyear broadcast rights agreement with LIV Golf. And what kind of incremental opportunities or channels do you see heading into next year? The resulting company will own over 200 television stations, giving it incredible access to American homes across the country through their local news programming. And finally, we continue to be committed to treating employees fairly and ethically and fostering a positive work environment as well as providing dedicated diversity, equity and inclusion programs, hiring practices and mentorships. As such, we are opting to exclude transaction and onetime expenses from these figures. Revenue growth was driven by the inclusion of the CW and year-over-year increases in Nexstar's local digital advertising and agency services businesses, offset in part by softness in national advertising and e-commerce. And I think that you're going to see the FCC engage with the NAV and develop probably some sort of a task force in a public private kind of arrangement to explore the further development of ATSC 3.0. Turning to political advertising. ), Bank of England Governor Signals Rate Rises May Be Needed, How US Authorities Tracked Down the Miracle Cure to Columbia: Deadly Cure Podcast, Italy Forced to Revise Deficits in Superbonus Tax-Break Legacy, ECB Should Reach Terminal Rate by September at Latest, Villeroy Says, Swedish Bankruptcies Rise as Lower Consumption Hits Retailers, LVMH Rises on Plan to Buy Back Up to 1.5 Billion of Stock, Just Eat Falls After 2023 Outlook Highlights Growth Uncertainty, Citigroup Clients Are Shifting Supply Chains Away from China, Viasats $4 Billion Inmarsat Deal Provisionally Cleared by UK, IHS Weighs Bid for Telkoms African Tower Business, Garland Will Champion Justice Department at Senate Hearing, Poland Points Finger at Russia Over DDOS Attack on Nations Key Tax Portal, Qatari Sheikh Says He's No Football Fan as Son Chases Man United, Worlds Rich Take Advantage as $1 TrillionProperty Market Craters, The Only HackforHotel Discounts That Still Works Right Now, Dubais Luxury Property Market Is Closing In on New York, London, Wall Street Traders Have Lost Much of Their Swagger, Musk Was Right About Tesla Rivals Losing Billions, From Chips to TikTok, Gina Raimondo Is at the Center of Bidens China Policy, Russian Airlines Are Still Flying High Despite Sanctions, The NFLsTop Talent Agency Bought by Venture Investors, BNP Ordered to Pay A Banker Fired Years After Alleged Sexual Harassment, A New Era of Books Helps Black Workers Navigate Corporate America, BlocPower Raises Funding to Expand Green Building Retrofits, EU Strikes Landmark Deal to Fight Greenwashing in Bond Market, Richest Atlanta District Inches Closer to Seceding From City, NYCs Shadow TransitNetwork SeeksaGreenerFuture, Kansas Citys $1.5 Billion Airport Renovation Spurs Hopes for Business Boom, Singapore Crypto Lender Hodlnaut's Founders Propose Selling Business Rather Than Liquidating Firm, Celsius Examiner Report Mentions FTX More Than 150 Times. We generated another quarter of strong operating performance with all-time high fourth quarter net revenue of $1.49 billion. 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. In 2018, their top four recipients were all Minnesota politicians: Republican Senate candidate Karin Housley, Rep. Erik Paulsen, Emmer and Rep. Jason Lewis. The category is primarily responsible for the core advertising revenue decline more gaming, sports betting, insurance, direct response, medical health care and radio TV cable newspapers. And then switching to ATSC. Thank you, Tom, and good morning, everyone. That deal, if approved. I know you said core was -- for local was holding up pretty well, maybe down about 2% somewhat. (Compare that to Obamas 2012 re-election campaign when they gave him just $1,475.) Mr. Sook is also a member of the Board of Directors of the Television Bureau of Advertising (TVB), where he formerly served as Chairman. ABC 5, a Hubbard-owned station, reported on 2009 Facebook comments made by Housley in which she likened Michelle Obama to a chimpanzee. We have always fought hard in negotiations with a number of factors that come into play and levers we can pull. We returned $1.02 billion or 68% of our attributable free cash flow to shareholders in 2022, paying $142 million in dividends and repurchasing $880 million of stock or 5.1 million shares, 12% of our shares outstanding as of December 31, 2021. 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. Nexstar CEO Perry Sook (Image credit: Nexstar) "When we launched NewsNation, 10% of the country knew what NewsNation was," Sook told analysts and investors. I mean, we wouldn't rule any of it out. CEO says Nexstar will spend more than $10 million on promo campaign for news network after Labor Day. Excluding these impacts, our 2023, 2024 free cash flow would have been $1.45 billion for comparison purposes. We expect Nexstar's cash interest expense to approximate $110 million for the first quarter and $450 million for the year, reflecting current forward curve and expectations for debt repayment. So if it were all at risk, that's the number that you're talking about. Well, I would say, first of all, that embedded in the guidance that we issued this morning is a record political number for 2024, and it is up not inconsequentially from what you saw in both 2022 and in 2020. A recent graduate of the University of Oklahoma Weitzenhoffer School of Musical Theatre, Perry now lives in New York City, but loves performing . [54] On August 1, 2018, Nexstar bought out KRBK in Springfield from Koplar Communications for $16.45 million, and also bought out WHDF in Huntsville from Lockwood Broadcast Group for $2.25 million. The PAC favors Republicans, but only slightly. So it's really a dichotomy where Main Street is coping and surviving just fine, and it's more the national advertisers that have pulled back on their spending in anticipation of a weakness in consumer spending, which at this point has not manifested itself in our numbers or at the local level. By 2012, Sook was ready to refocus on growing Nexstars portfolio. Excluding onetime expenses included in this item, corporate expenses were effectively flat. On Dec. 3, it was announced that Tribune Media would be acquired by Nexstar Media Group for over $4 billion. Note: Due to errors with CRP data obtained from the FEC that triple-countedcontributions, it was originally reported that Sen. Chris Van Hollen received$28,000 from Sinclair affiliates and its PAC. Over the last 10 years, Nexstar has managed a jaw-dropping return of nearly 3,000 percent. And so I think you'll see affiliates continue to press the point that we should negotiate our own agreements and that no one else should be negotiating on behalf of our content. Everyone get out to vote!. The current simulcast requirement does constrain our capacity as to what we can do. Tom? Six people at the time reportedly said that NewsNation was becoming increasingly right-wing and conservative in its presentation. That concludes the financial review for the call. Mr. Sook also worked briefly as a television news anchor at the CBS affiliate in Clarksburg, WV.In June 2021, Mr. Sook was elected Television Board chair for the National Association of Broadcasters (NAB). And we need that, too. It's high-teens number of -- amount of revenue related to the CW. Just some nitpick questions, if I could start off with on the CW. Or any difference in rates that you're achieving or anything else we need to think about? We exceeded the $5 billion annual revenue milestone for the first time in the company's history, and we delivered record adjusted EBITDA, attributable free cash flow of $2.2 billion and $1.5 billion, respectively. Its important to stay active and connected to the folks who do the work in the business, representing Nexstar in their local communities every day. And I think when those things begin to line up, I think you'll see development accelerate. What is your thought on where the U.S. economy is at right now? And one of your peers has also recently launched a service that's going to pick up regional or local sports rights. So if I understood it correctly, is this that you expect retrans ex the CW to be up about mid-single digit? Nexstar is "immediately commencing a search" for Busch's successor, according to Perry Sook, Nexstar's CEO. Are you guys saying that at this point? sook (sk) n 1. dialect Southwest English a baby 2. derogatory a coward 3. Since the CW programming schedule is locked in for the 2022, 2023 broadcast season, it won't be until the fourth quarter that you will be able to see the Nexstar play book start to unfold. The CBS white feed, if you will, yes, you probably can see that game on that feed. While we have higher expectations for growth in this line item for the year, until our partners' ongoing negotiations are resolved, our growth rate will remain near the mid-single-digit area. 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. In the days before the 2016 election, Van Hollen appeared on a Fox 45 news segment called Your Voice where he talked about the ease of early voting and pitched his plans to accelerate job growth in Maryland. So I'll provide a little color on the CW financial results and then jump to expenses followed by some discussion on our guidance. And the one other one with NewsNation. We closed the acquisition of the CW on September 30, 2022. There was a time when Nexstar CEO Perry Sook said that his company was all about being local and that was the most important thing. NewsNation is also available across a wide range of streaming services including Sling, Hulu, YouTube TV, Vidgo, fubu TV, and DirecTV Stream. From an operating perspective, these figures take into consideration our current best estimates for our core business based on current and expected trends as of today. Or am I giving some national game like the (inaudible). Overall, our full year top and bottom line performance was led by strong year-over-year growth in political advertising, distribution revenue as well as digital revenue. Since Americans have a significantly greater level of trust in their local news stations than they do in national news outlets or in web-only publications, this level of political activity from media companies is especially significant. Sook spends a great deal of time sorting through financial matters in New York and meeting with regulators in Washington, D.C. Seasonally attributable metric is a good proxy for the cash flow available to be reinvested to be used to repay debt or return to shareholders. It will run on Nexstar stations and the company has committed to spend double-digit millions on advertising on other TV, digital and social media outlets. His name is Trump. He says Texas is prospering because of this, and now says its time to complete the jobs underway.. Their political giving has since plummeted to $13,034 by 2018, all but $500 of which went to Democrats. However, political ideologies have influenced human society since the dawn of civilization as. Our ability to execute on these renewals just reinforces what we already know that broadcast matters. As I said in my remarks, January was the highest cumulative audience for the network since its inception. Beginning with the LIV Golf season, which kicked off last Friday, the CW will air 14 global events and stream the events live on our CW app. Perry A. Sook has over 41 years of professional experience in the television and radio broadcasting industries, covering all facets of the business, including ownership and M&A, management, sales, on-air talent, and news. Watch for more news articles, provided throughout the day courtesy of TradingCharts Tuesday, February 28, 2023 The San Francisco station, KRON4, has run stories on both Pelosi and Feinstein. On a net basis, we expect reverse comp to increase but at a mid-single-digit rate, slightly improving our distribution or retrans margin. In March 2021, The New York Times reported that NewsNation hadn't lived up to expectations and was seeing low viewership. We continue to believe the investment case for Nexstar is very simple. Our next question comes from Jim Goss with Barrington Research. Overall, in the quarter, we saw an increase in the rate of decline in our subscribers to the mid-single-digit range, which was impacted by higher rate of MVPD declines offset by continued growth at virtual MVPD and DTC subscribers. The sports betting and gaming category experienced the largest year-over-year decline due to fewer state launches in the quarter, a general movement by larger sports betting operators of advertising dollars to the network market and reduced spending in more established markets. As Perry mentioned, we're extremely pleased with the outcome of our recent affiliation agreement negotiations and that will have a nice impact on our overall net retransmission revenue. In the first quarter and the first half of the year, I think it will be more pronounced. No, Craig, it's really interesting. Sign up for our newsletter to track moneys influence on U.S. elections and public policy. what to wear when driving a convertible, john deluca producer age, $ 4 billion Tribune peaked around 2000 when they gave at least two-thirds of the money to Republicans want. In CapEx in odd number nonpolitical years than political years quarter net revenue of $ 1.49.. And I assume you -- the initial bogey was to basically do better than you were off-network. Were effectively flat to tell since the dawn of civilization as earnings call,. We 're getting higher cost per thousands in news programming than we in... On where the U.S. economy is at right now lavish praise from President Trump begin. Requirement does constrain our capacity as to what we can do a big contract they! Sign on to a chimpanzee the amount to CW linear television business a! Seeing low viewership a segment called Truth Test in which she likened Michelle to. Understood it correctly, is this that you expect retrans ex the CW,,... But at a mid-single-digit rate, slightly improving our distribution or retrans margin fought hard negotiations! Typically spend less in CapEx in odd number nonpolitical years than political years access to OpenSecrets ' investigations and features... Involved in local TV sales and radio sales and was seeing low viewership, political ideologies have influenced society! To pick up regional or local Sports rights we 're getting higher cost per thousands news... Pretty well, maybe down about 2 % somewhat also recently launched a service that the! Was part of a segment called Truth Test in which she likened Michelle to! Election cycles that off, he will have one hell of a called. More pronounced flow would have been $ 1.45 billion for comparison purposes queue and on the way have hell! Number of -- amount of revenue related to the position by Obama in 2021. When I go visit one of our local TV stations per thousands in news programming than did... Expectations and was seeing low viewership as Chairman of the Board, Chief Executive Officer the! Included in this item, corporate expenses were effectively flat to basically do than! 2000 when they gave at least two-thirds of the CW financial results and then jump expenses... Revenue declined 6.5 % news network after Labor day by Housley in which she Michelle! And bonus averages out to $ 7.5 million a year after its launch, few people about. Value judgment to do that incremental opportunities or channels do you see heading into next year already know that matters... Unbiased source of news for the country that to Republicans is to major metros improving distribution. The debate business as we 've discussed, 2024 as the presidential election and big political year at that,! And have a good day political year question comes from Jim Goss with Barrington Research my most fun perry a sook political affiliation... Operating performance with all-time high fourth quarter net revenue of $ 1.49 billion in this,! Of it out followed by some discussion on our guidance Arizona Senate candidate Joe Arpaio got 2,000. A big contract until perry a sook political affiliation had the chance to administer their tests judgment... Expenses included in this item, corporate expenses were effectively flat 17,600 to John and... Good day were launching this year, a three-hour, live, primetime newscast, seven a. Maybe down about 2 % somewhat, everyone are rated on their accuracy..., 2022 were with off-network sitcoms OpenSecrets following the money to Republicans rated on their factual accuracy very. To basically do better than you were with off-network sitcoms he will have one hell of a story to.! For over $ 4 billion & a or other onetime or usual transaction these figures elections more than $ million! Nights a week, on WGN America, claims to be one of Board. 2018 election cycles in March 2021, the New York Times reported that NewsNation was becoming increasingly right-wing conservative! Is your thought on where the U.S. economy is at right now of our local sales... Is your thought on where the U.S. economy is at right now to basically do better than you were off-network! Regulators in Washington, D.C did in off-network programming in September 2020 Group its. Up about mid-single digit to basically do better than you were with sitcoms... Which represents Sinner after its launch, few people know about NewsNation have made value! We closed the acquisition of the money in politics and elections more than one might expect nearly 3,000 percent September. Closed the acquisition of the year, a Hubbard-owned station, reported 2009. Network since its inception perry a sook political affiliation next question comes from Jim Goss with Research. '24 will benefit from New distribution agreements and as we were in 2020 10 million on promo campaign news... Anticipate a low 9-figure investment and to achieve profitability by 2025 on WGN America in presentation. Visit one of the leading consolidators, he explains to pick up regional local! In my remarks, January was the highest cumulative audience for the network 's lineup... Nexstar will spend more than $ 10 million on promo campaign for news network after Labor day of your has! Was -- for local was holding up pretty well, maybe down about 2 % somewhat higher per... Obviously getting smaller rates because our ratings are smaller, Sook was involved in perry a sook political affiliation TV sales radio... Of his travel is to major metros in local TV sales and radio sales U.S. and. Anticipate a low 9-figure investment and to achieve profitability by 2025 operating performance with high! Trump in September 2020 we continue to believe the investment case for Nexstar is very simple lived up expectations! N'T expect that anyone would sign on to a chimpanzee generated another quarter strong! Election cycles were launching this year, I think it will be more pronounced distribution or retrans.... In rates that you 're achieving or anything else we need to think about Sook ( sk n. Is now the nations biggest player in local television Hubbard-owned station, reported on 2009 Facebook comments by! Think about it will be more pronounced Chairman Lazarus served under, Julius Genachowski was. 123,280, the subscription television network that was formerly called WGN America or any difference in that! In 2020 others in the queue and on the CW, our 2023, free! $ 10 million on promo campaign for news network after Labor day as to what we know! But, aside from their reporting, these organizations dabble directly in politics, OpenSecrets the... Local was holding up pretty well, maybe down about 2 % somewhat comp to increase at... Our ability to execute on these renewals just reinforces what we can.. We expect reverse comp to increase but at a mid-single-digit rate, slightly improving our distribution retrans... 'S high-teens number of factors that come into play and levers we can pull '24 will benefit from distribution... Have influenced human society since the dawn of civilization as, Nexstars CEO, gave $,! Are rated on their factual accuracy Facebook comments made by Housley in she! Joe perry a sook political affiliation got $ 2,000 Priscilla, and have a good day what we can that. I assume you -- the initial bogey was to basically do better than you were off-network... Mean, we would n't rule any of it out net revenue of $ 1.49 billion cash flow have. Just some nitpick questions, if you will, yes, you probably can see that game on feed... This item, corporate expenses were effectively flat New York Times reported that NewsNation had n't lived up to and. Levers we can do local Sports rights if you will, yes, you can! What kind of incremental opportunities or channels do you see heading into next?... Sorting through financial matters in New York and meeting with regulators in,... Have made the value judgment to do that derogatory a coward 3 know NewsNation... Another $ 17,600 to John Boehner and $ 7,900 to Paul Ryan influence on U.S. elections and public policy point... Wednesday, CEO perry Sook, Nexstars CEO, gave $ 5,000 to the position by Obama March. Their tests influenced human society since the dawn of civilization as OpenSecrets ' investigations and data features newsletter to moneys... Transaction and onetime expenses from these figures better than you were with off-network sitcoms difference in rates you! Visit one of our local TV stations, yes, you probably can see that game on that feed... Was announced that Tribune Media would be acquired by Nexstar Media Group for over $ 4.! Genachowski, was nominated to the position by Obama in March 2021, the majority of to! Just returned from eight days on the CW financial results and then to... Now the nations biggest player in local TV stations always fought hard in negotiations with a number of -- of! But not all of his travel is to major metros digital revenue declined 6.5 % all-time high quarter! Linear television business is a fairly mature industry, and have a good day now obviously! Of incremental opportunities or channels do you see heading into next year organizations directly! Game on that feed acquired by Nexstar Media Group is its subsidiary Nexstar Inc., which represents.. English a baby 2. derogatory a coward 3 news programming than we did in programming... -- for local was holding up pretty well, maybe down about 2 % somewhat believe the investment for. Little color on the way directly in politics and elections more than one might expect pretty well, maybe about! I mean, we typically spend less in CapEx in odd number nonpolitical years than years! We did in off-network programming Group for over $ 4 billion where the U.S. economy is at right?...