Nexstar started with Scranton-Wilkes Barre, PA, CBS affiliate WYOU in 1996 and now owns or operates 72 stations. Sook said his company spent about $650 million over the last 24 months. He said he thinks the station group can match that amount over the next two years.
Sook said some stations run by Local TV LLC could fit the bill, but declined to say whether his company was in talks with owner Oak Hill Capital Partners. “At the right price I think we would be interested in a number of those assets but certainly not all,” Sook said in an interview on Wednesday. Credit Suisse analyst Michael Senno has identified Nexstar as a likely buyer if Local TV is broken up as part of a sale.
You can also read Sook’s take on his comments about selling Nexstar for the right price, retransmission fees and Aereo. Click here to read the article.