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Posts Tagged ‘Nexstar Broadcasting’

Two Anchors in Two Days, Sidlow Follows Prado Out KSEE’s Door

Faith Sidlow (pictured left), KSEE morning anchor, has been fired one day after Noon anchor Pamela Prado (pictured right) was let go, reports The Fresno Bee.

“It wasn’t a shock,” Sidlow told The Bee. “I had a pretty good idea over the last few months that I could be let go.”

Sidlow had been with the Nexstar owned Fresno NBC affiliate for 28 years. She also teaches journalism at Fresno State and said she does not plan to look for a job in other markets.

Prado, who was let go Monday, told The Bee she felt blindsided, “I anchored yesterday’s noon show and ended it by saying what I say everyday, ‘Thanks for joining me and I’ll see you tomorrow.’” She added, “I would have loved to have had the opportunity to say good-bye to my co-workers and viewers who have allowed me to come into their homes for almost 10 years.” Read more

Nexstar Still Looking for Stations to Buy

Reuters recently spoke with Perry Sook, founder and chief executive of Nexstar, about the future plans of the station group.

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.

Nexstar Re-Brands WPTY in Memphis, Announces New Anchors

Nexstar Broadcasting has announced it will re-launch WPTY, the ABC affiliate for Memphis, TN, as WATN LOCAL 24 this Saturday June 1.

Ardyth Diercks, vice president and general manager for Nexstar’s Memphis and Jackson operations, said in a statement, “This is a very exciting time for Nexstar and our Mid-South station operations, as launching WATN LOCAL 24 reflects our deep commitment to serve our local community and advertising partners, while delivering the most relevant, compelling and informative local news that touches the daily lives of our viewers.”

The new brand will feature a new community web portal and HD news broadcasts. Earlier this month, Nexstar revealed its new Memphis broadcast facility housing its three Tennessee stations, WPTY (WATN), Memphis CW affiliate WLMT and Jackson FOX affiliate WJKT. Read more

Nexstar Broadcasting Revenue Up 34% in Q1

Nexstar Broadcasting reported $112.2 million in net revenue during the first quarter of 2013, a 34% increase on the year-ago quarter’s $83.6 million.

Local revenues were up 31.9% for the quarter and national revenues were up 34.3%. Political revenues were down significantly in the non-election year, but retransmission fees were up 64.2% and e-media revenue was up 57.3%. Broadcast cash flow was $39.8 million, an increase of 16.9% on the year-ago quarter.

“Industry revenue improved each month during the first quarter and this trend continues for Nexstar in the second quarter to date,” Nexstar chairman, president and CEO Perry A. Sook said in a statement. “As such, we are well positioned to grow all of our non-political revenue sources throughout 2013.”

Nexstar to Acquire CCA Stations For $270M

As expected, Nexstar Broadcasting and Mission Broadcasting have announced an agreement to acquire Communications Corporation of America’s station group. Nexstar and Mission will pay will pay $270 million for CCA’s 19 stations and seven associated digital subchannels in 10 markets.

Under the terms of the agreement, Nexstar will acquire 11 of the CCA stations and Mission will acquire eight. Nexstar and Mission will enter into shared service agreements, according to a statement. The transaction is pending FCC approval and expected to close in the fourth quarter of 2013.

“Nexstar is a premier TV broadcasting company that has grown in a disciplined fashion. We are pleased that the CCA stations will become part of Nexstar’s expanded footprint giving them the benefits of increased scale to build on the momentum we have created over the past several years,” CCA chairman Peter Markham said.

A full list of CCA’s stations are after the jump. Read more

Report: Nexstar to Acquire CCA Stations

Nexstar Broadcasting is poised to buy Communications Corp. of America, TVNewsCheck reports. The company has signed a letter of intent and is in the process of conducting due diligence on “12 stations in smaller markets”:

CCA stations are in markets ranging Shreveport, La. (DMA 82), to Alexandria, La. (DMA 179). Nexstar’s portfolio ranges from Washington (DMA 8) to St. Joseph, Mo. (DMA 201). Most are in mid-size to smaller markets.

The acquisition would boost Nexstar’s station count to roughly 84, bump up its duopoly count by at least one and enhance its already strong presence in Louisiana and Texas.

TVNewsCheck reports the two companies hope to make a formal announcement by April 6.

Dione Rigsby Joins Nexstar Broadcasting as VP of Technology

Dione Rigsby has joined Nexstar Broadcasting as vice president of technology, effective immediately. In his new role, Rigsby will oversee the ongoing integration of Inergize Digital, which Nexstar acquired from Newport Television last year.

Rigsby joins Nexstar from Newport Television, where he was responsible for corporate technology and technical resources related to television operations and the Ingerize Digital platform, among other things. He worked from 2008-12 as chief technology officer, vice president and director of engineering and general manager of Newport Technical Operations Center.

“Dione has an impressive industry background with extensive experience in managing technology operations, information systems and complex application development and deployment,” Nexstar SVP of station operations Blake Russell said in a statement. “Dione’s appointment will support our goals for both expanding our revenue channels and driving efficiencies throughout the organization.”

Nexstar Broadcasting Q4 Revenue Up 35%

Nexstar Broadcasting reported a record $116.2 million in revenue in the fourth quarter of 2012, an increase of 34.8% on the year-ago quarter.

Compared to the fourth quarter of 2011, local revenue increased 6.8% and national revenue increased 14.3%. Retransmission fee revenue increased 55.9%, and political revenue was up 1,262% from the year-ago quarter.

“Our strong financial results were primarily driven by record-breaking political advertising sales, higher core television ad revenue, growing retransmission consent revenues, and our 24th consecutive quarter of e-Media revenue increases. We also benefited from a month of operations related to the accretive acquisition of ten television stations from Newport Television,” Nexstar chairman and CEO Perry A. Sook said in a statement.

Nexstar Completes Purchase of WFFF-WVNY

Nexstar Broadcasting and Mission Broadcasting has completed the purchase of WFFF and WVNY, the Fox and ABC affiliates in Burlington, Vt.-Plattsburgh, N.Y.

Nexstar bought the two stations from Smith Media, LLC for $16.9 million. Nexstar and Mission have entered into a local services agreement for Nexstar to provide sales and other services to WVNY.

“This transaction is consistent with our acquisition criteria as it further diversifies our operations, expands our scale, creates another new duopoly market and is financially accretive,” Nexstar chairman and CEO Perry A. Sook said in a statement.

Nexstar Taps Eric Thomas as General Manager of KLBK

Nexstar Broadcasting has named Eric Thomas vice president and general manager of Lubbock, TX, CBS affiliate KLBK.

“I began my broadcasting career in Lubbock and am deeply committed to the great state of Texas where I grew up and where my wife, two children and extended family and many close business contacts and personal friends currently reside,” said Thomas. “I look forward to working with the exceptional team of broadcasters, the station’s advertisers and the local community to drive continued viewership growth while delivering superior marketing solutions to local and national advertisers.”

Thomas, who will also oversee the company’s joint operating agreement with Mission Broadcasting’s KAMC and serve as head of e-media operations for both station’s digital properties, previously worked as vice president and general manager of KTAB in Abilene/Sweetwater, TX. Read more

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