It’s not among the publicly traded company’s SEC filings nor is it among the freshly distributed press releases found on its corporate website. Rather, the news was shared via a “Status Report” submitted by Nexstar Media Group through one of its Washington, D.C., attorneys to the judge overseeing its legal battle against DirecTV and a coalition of state Attorneys General.
TEGNA has a new Board of Directors, complying with an order from the U.S. District Court for the Eastern District of California in Sacramento.
Beth Wilkinson of Wilkinson Stekloff late Tuesday (8/25) submitted a five-page update to the court, addressing Magistrate Judge Carolyn Delaney along with Troy Nunley, who has been tasked with judging whether the FCC and DOJ-approved combination of Nexstar and TEGNA is a violation of federal antitrust laws.
Among the “additional steps” Nexstar and TEGNA engaged in over the last two weeks is — listed third in order of appearance in the document — the seating on Monday of a new TEGNA board.
As of today, the TEGNA Board of Directors is comprised of:
- TEGNA Chief Executive Officer Patrick Paolini
- Eugene Davis, the Chairman/CEO of Pirinate Consulting Group LLC. He is a former President and Vice Chairman of Emerson Radio Corp. and known as a “turnaround” expert who served as a Media General board member following an April 2008 election.
- Bruce Levy, who most recently served as Managing Director of Corporate and Investment Banking at Truist Securities until his retirement in 2025. Before that, he was the Managing Director of Media and Telecommunications in the Technology, Media & Telecommunications Investment Banking Group at Wells Fargo Securities, where he spent 34 years until joining Truist in November 2022.
“Consistent with the Order, Mr. Paolini, Mr. Davis, and Mr. Levy are not current or former
officers, employees, directors, consultants, or other affiliated personnel of Nexstar,” Wilkinson tells the court.
Additionally, TEGNA on Monday seated its Sr. VP/General Counsel Marc Sher as Secretary of the Board. Importantly, Nexstar notes that Sher was not appointed as a director and does not have a vote on TEGNA’s Board.
But, like the newly appointed directors, Sher is not a current or former officer, employee, director, consultant, or other affiliated personnel of Nexstar. Rather, he is a 13-year veteran of TEGNA’s legal department.
Once the appointments were made, Nexstar Chief Financial Officer Lee Ann Gliha resigned as a TEGNA Director, per the court’s order.
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