Nexstar Media Group has extended CEO Perry Sook‘s contract through March 2029.
Sook, who is Nexstar’s third-largest shareholder, founded the company in 1996 and in less than 30 years built it from a single radio station into the No. 1 local TV station owner in the U.S. Among Nexstar’s 40 acquisitions along the way was a deal to take majority control of the CW broadcast network. The company’s portfolio also includes the cable network News Nation.
In 2024, Sook collected $35.9 million in total compensation, up 23% from 2023. The compensation package ranked in the middle of the pack among major media CEOs.
The new contract comes after Nexstar and local station rival Tegna announced plans to merge, which would take Sook’s growth ambitions to a new level. As proposed, the deal would give Nexstar a station portfolio reaching 80% of the U.S., far exceeding current regulatory limits on station ownership. Sook and other local TV execs have been agitating for the FCC to eliminate the cap, though such a move is likely to require Congressional action.
The contract extension follows a period when Nexstar was making national news during the suspension of ABC late-night host Jimmy Kimmel. Nexstar and another giant station group, Sinclair, pulled Jimmy Kimmel Live! from their airwaves, leading to the network suspension. The moves were prompted by a line in Kimmel’s monologue several days after the shooting death of conservative activist Charlie Kirk.
“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,” Sook said in a statement. “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.”
Nexstar Chairman Jay M. Grossman saluted Sook’s “vision, commitment and deep understanding of the media landscape,” calling them “instrumental in driving Nexstar’s strong and consistent record of operating execution, financial growth and shareholder returns.”
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