Nexstar CEO Perry Sook Contract Extended Through 2026

Nexstar Media Group, the nation’s biggest station owner, which is currently said to be in the process of acquiring the CW, has extended the employment agreement of CEO Perry Sook, through March 31, 2026.

Sook is also chairman and a top shareholder. He founded Nexstar in 1996 and has run it since — growing revenue from approximately $87 million at the time of the November 2003 initial public offering, to over $4.6 billion in 2021.

The board cited Nexstar’s “consistent growth, financial outperformance, operating execution and record of value creation under Sook’s leadership.” In fact, it’s been a steady performer amid volatile markets, high inflation, rising interest rates and supply chain disruptions.

Reports have been ongoing for months that CW co-parents ViacomCBS and the former WarnerMedia were considering selling a controlling stake with Nexstar, as the largest affiliate group, among interested buyers. WarnerMedia merged with Discovery in April.

Nexstar is also focused on NewsNation. The news network started in 2020 as primetime new block on WGN America, which was rebranded in March of 2021 and has expanded to other dayparts. It’s up to 60 hours a week of original content. It’s launching a show with Chris Cuomo this fall, marking the former CNN host’s return to cable news.

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