The founder and Chairman/CEO of the nation’s largest single owner of broadcast television stations will be staying in that role for another 40 months and two weeks.
Nexstar Media Group’s Board of Directors has extended the employment agreement of Perry A. Sook, through March 31, 2029.
Sook, the third-largest shareholder of the company he founded nearly 30 years ago with a single station in Scranton, has directed Nexstar’s journey as CEO across its entire journey, growing into the No. 1 station owner.
It also controls The CW Network and owns WGN Radio in Chicago and NewsNation, born out of WGN America.
Sook commented, “As we embark on this next phase of growth for Nexstar, I have never been more energized about the prospects for the industry, for Nexstar and for what Nexstar can become. I look forward to leading the Company to new levels of success and continuing to create value for our shareholders, our advertisers, our employees and the communities we serve.”
Jay M. Grossman, Chairman of Nexstar’s Board of Directors Compensation Committee, commented, “The Board is delighted to extend Perry’s employment agreement at this pivotal moment for Nexstar and the local broadcast television industry. Perry’s vision, commitment and deep understanding of the media landscape have been instrumental in driving Nexstar’s strong and consistent record of operating execution, financial growth and shareholder returns.
“The proposed acquisition of TEGNA represents the next chapter in Nexstar’s growth story and with Perry’s unmatched experience and track record of success in broadcast M&A, he is uniquely qualified to deliver the full value we expect for shareholders, as well as the local communities we serve. On behalf of the entire Board of Directors, we are deeply grateful for Perry’s exceptional leadership and continued commitment to our viewers, advertising clients, team members, shareholders and all stakeholders.”
