Copyright 2023, D Magazine Partners, Inc. We use cookies to ensure that we give you the best experience on our website. Hubbard Broadcastings political contributions peaked in 2016 when they gave over $1 million to Republicans. Okay. Nexstar Media Groups PAC, for instance, has steadily ramped up its spending on political causes from 2014, with $27,100 spent that year, $95,700 spent in 2016 and $196,500 in 2018. He's been putting the finishing touches on an acquisition that'll bring Nexstar Broadcasting's holdings. Hubbards CEO, Stanley Hubbard, is on the advisory board for a pro-Trump Super PAC. Okay. We've returned $1.02 billion or 68% of our attributable free cash flow to shareholders in 2022 and recently increased our 2023 dividend by 50% to $5.40 per share per year, representing a 2.8% yield. Global Edition. "Over time, we will be taking a different approach to our CW programming strategy and will leverage our experience in spending approximately $2 billion a year on programming, attracting and. Political ad revenue of $266 million, up 1,307%. Q4 digital revenues increased 10.1% year-over-year to approximately $112 million. Obviously, the simulcast requirement needs to sunset at some point and there needs to be a sunset of 1.0 and an endorsement of 3.0 as the new transmission standard. We're extremely pleased to see auto, our largest advertising category in terms of dollars spent, maintain its growth trajectory for the second consecutive quarter, increasing 23.5% over Q4 of '21. Operationally, in the fourth quarter, we renewed and extended our network affiliation agreement with ABC on terms favorable to the company, and we successfully renewed and extended distribution agreements with our largest MVPD partners on terms that will enable Nexstar to enjoy continued annual growth in distribution revenue for the foreseeable future. Fourth quarter total interest expense increased to $103.4 million from $70.2 million in the prior quarter due to the impact of increasing LIBOR and SOFR rates applicable to our floating rate debt. Stay up to speed on DFWs fast-moving business community with weekly news reports, interviews, and insights. We exceeded the $5 billion annual revenue milestone for the first time in the company's history, and we delivered record adjusted EBITDA, attributable free cash flow of $2.2 billion and $1.5 billion, respectively. Excluding these impacts, our 2023, 2024 free cash flow would have been $1.45 billion for comparison purposes. Your comments about (inaudible) drawing attention to the CW. Why? El Paso is ORourkes hometown. Perry Sook, Nexstars CEO, gave $5,000 to the companys PAC in the 2014, 2016 and 2018 election cycles. Composed mostly of reporting from Nexstar stations, NewsNation was billed as offering straight-down-the-middle stories at a time when cable news is politically polarized. The smarter way to stay on top of broadcasting and cable industry. Watch for more news articles, provided throughout the day courtesy of TradingCharts Yes, we are not back to 2019 levels yet. Perry A. Sook has over 37 years of professional experience in the television and radio broadcasting industries, covering all facets of the business including ownership and M&A, management, sales, on-air talent and news. But it is certainly a tailwind in core advertising revenue that auto is up and up double digits, and we see that continuing throughout the year. It was up low single-digit percentage on an adjusted basis. I know that was also, I think, mid-teens at that point. In 2014, the Hubbard Broadcasting gave the Super PAC $450,000, $300,000 from the company and $150,000 from individuals. But in terms of the things I'm talking about, in 2024, there could be a very modest amount. 20005. Nexstar Media Group, Inc. (NXST) SEC Filing 8-K Material Event for the period ending Tuesday, February 28, 2023 What's your feeling about that? Jon has been business editor of Broadcasting+Cable since 2010. The Nexstar CEO is proud to say, I want my commission salespeople to be the highest-paid people in town. Hed like to be paid more, too. He approached the media groups execs and said, Listen, I will manage these stations for you for a fee and improve them for you so that you recover some of your investment. It worked. So were launching this year, a three-hour, live, primetime newscast, seven nights a week, on WGN America. And so that means we have to go dark for a little while to make the point. So it's really a dichotomy where Main Street is coping and surviving just fine, and it's more the national advertisers that have pulled back on their spending in anticipation of a weakness in consumer spending, which at this point has not manifested itself in our numbers or at the local level. We also have begun to execute on our cost savings plan by reducing redundant functions at the network, and we've hired new top-tier executives with backgrounds at Fox, NBCUniversal, HBO, Pop TV and Google to lead our programming and distribution strategies. [54] On August 1, 2018, Nexstar bought out KRBK in Springfield from Koplar Communications for $16.45 million, and also bought out WHDF in Huntsville from Lockwood Broadcast Group for $2.25 million. By June, that time period was down to 28,000 viewers and 5,000 in the demo. Since we own 75% and control the CW, the CW is consolidated to our financial results. Well, I can tell you that the number of inbound inquiries as well as discussions that are going on with team owners, the activity is frenetic around here. And Im a team player, said Hubbard, who was initially skeptical of the President, in an interview with NPR. As such, our net first lien coverage rate -- sorry, our net first lien covenant ratio for Nexstar, excluding the CW at December 31, 2022, was 1.77x, which is well below our first lien only covenant of 4.25x. This is extremely dangerous to a democracy.. They gave another $17,600 to John Boehner and $7,900 to Paul Ryan. Weve made three dozen separate acquisitionssome small, some very large, he begins. In the 2000s, Sinclair had a similar a must-run segment called The Point, hosted by a Sinclair lobbyist and ex-Navy intelligence officer. He says Texas is prospering because of this, and now says its time to complete the jobs underway.. Positively impacting this revenue category in the quarter was the inclusion of the CW-affiliate fees as well as growth in the virtual MVPD revenue and MVPD rate resets and annual rate escalators. Perry Sook has a really good story to tell. As always, Tom and Perry gave you most of the details on the revenue side. If Sook can pull that off, he will have one hell of a story to tell. Perry Sook vs. CBS. For the full year, we generated $1.5 billion of attributable free cash flow and generated approximately $188 million of net proceeds related to asset sales in 2022. It will be based in Chicago and run out of Chicago, drawing on the backbone of those 5,400 journalists sprinkled around the country. And it will be absent of bias. In the first quarter and the first half of the year, I think it will be more pronounced. Early in his career, Mr. Sook was involved in local TV sales and radio sales. Since the CW programming schedule is locked in for the 2022, 2023 broadcast season, it won't be until the fourth quarter that you will be able to see the Nexstar play book start to unfold. In 2023, we plan to allocate a portion of our free cash flow to reduce indebtedness, primarily from mandatory amortization payments. Sinclair is based out of Maryland and owns twelve Baltimore-area television stations. Core advertising revenue was $478 million (down 3.3 percent year over year), while political advertising revenue was $266 million (up 1,307 percent). Full year net revenue, adjusted EBITDA and attributable free cash flow reached new all-time highs. Regular cars couldnt climb the muddy, steep hill. All statements and comments made by management during today's conference call, other than statements of historical fact may be deemed forward-looking statements for purposes of the Private Securities Litigation Reform Act of 1995. In summary, we remain confident in our strategy, the quality of our assets and the strength of our financial position. Under Sooks watch, both employee morale and the companys stock have remained high. In the days before the 2016 election, Van Hollen appeared on a Fox 45 news segment called Your Voice where he talked about the ease of early voting and pitched his plans to accelerate job growth in Maryland. Perry A. Sook-- Chairman and Chief Executive Officer Thanks very much, everyone for joining us. '23 and '24 will benefit from new distribution agreements and as we've discussed, 2024 as the presidential election and big political year. Before Superior, Mr. Sook was President/CEO of Seaway Communication, Inc., owner of network affiliated stations in Bangor, ME and Wausau, WI. Prior to Nexstar, Mr. Sook was one of the principals of Superior Communication Group, Inc., which was sold in 1995 to Sinclair Broadcast Group. Double-digit attributable free cash flow growth enabled us to return approximately 68% of our 2022 attributable free cash flow or a record of $1.02 billion to our shareholders in the form of share repurchases as well as dividends. And then lastly, just on sports content. But not all of his travel is to major metros. The reach of our local platform, which is where the political game is played overlaps very well with the open Senate races, the states that are expected to be in play for the presidential contest. Bloomberg Surveillance: Early Edition with Anna Edwards, Matt Miller & Kailey Leinz live from London, Berlin and New York, bringing insight on global markets and the top business stories of the day. They had no audience, no advertisers, and no followers, Sook says. How would you gauge the risk, I guess, that the impasse with CBS over FuboTV carries over to the other vMVPDs like YouTube TV, Hulu TV, Sling TV? Good day, and welcome to Nexstar Media Group Fourth Quarter and Full Year 2022 Conference Call. Distribution fee revenue of $615.6 million, flat. So if I understood it correctly, is this that you expect retrans ex the CW to be up about mid-single digit? They also gave $5,700 to Rep. Greg Gianforte, who became well known nationally after physically assaulting a reporter. Nexstar hired ABC News exec Michael Corn as president of news in May. These are results driven professionals who share our excitement and our vision for the network and we continue to expect to achieve profitability by 2025. Sook said advertisers have reacted positively to the networks news programming, paying the same cost per point in the scatter market as CNN. The rebrand hinges on a down-the-middle. In addition, Nexstar's digital properties provide innovative digital marketing solutions and services to local and national media companies, advertisers, agencies, and brands. I think that is absolutely necessary to advancement here. Tom? The grade was part of a segment called Truth Test in which political ads are rated on their factual accuracy. And so we are very bullish on political 2024. Yes. The Hill is comprised of five key content platforms which includes: TheHill.com - the #1 digital-first political news brand in Comscore's Political News category; The Hill TV - the Award-winning, #1 provider of premium digital video from within the Beltway, with 1.4B annual views across platforms, including the nation's newest streaming . In the latest of my series of Legends & Leaders interviews with media industry leaders, Nexstar CEO Perry Sook shares context on the decision to convert WGN America to NewsNation, including details on how 198 Nexstar TV stations and 5,500 journalists feed, support and promote the fledgling news network. Perry A. Sook -- Chairman and Chief Executive Offcier Thank you, Joseph, and good morning, everyone. The company is now the nations biggest player in local television. Fourth quarter distribution of approximately $616 million was flat to the prior year. Overall, for the year, cash operating taxes were $334.1 million for Nexstar, excluding CW, implying a 25.5% pretax income rate and $321.9 million, including the tax benefit from the CW attributable tax deductible losses. Mr. Sook previously spent five years with Cox Broadcasting, first in local sales in Pittsburgh, then at Telerep, Inc., as a National Account Executive. Now back to our regularly scheduled programming. Its important that we never lose sight of that, he says. A few additional notes on our 2023, 2024 free cash flow guidance before we open up for questions. The company also spent $390,000 lobbying during this period and employed a former chief counsel to Sen. John Cornyn (R-Texas) and a former deputy staff director for Sen. Chuck Schumer (D-N.Y.) as lobbyists. They reside in Flower Mound, TX. The present study examined how self-rated health was influenced by sociodemographic characteristics, physical health indicators, and sociocultural resources among four racial/ethnic groups of older. Our total net leverage for Nexstar, excluding CW at quarter end, was 2.93x, down from 3.7x as of December 31, 2021, and 3.18% in Q3. But we're very bullish on the prospects and think these things are in the queue and on the way. Perhaps the most explicitly pro-Trump company in local television is Minnesota-based Hubbard Broadcasting. So we'll be a 24-hour news network Monday through Friday by the end of April, and that will include the daytime expansion, the addition of the Hill, the addition of Elizabeth Vargas Reports show at 6:00 Eastern Monday through Friday. (Operator Instructions) And our first question comes from Craig Huber with Huber Research Partners. At the time, Nexstar CEO Perry Sook assured employees in a town hall meeting that the network would be "centrist." Some staffers griped to the New York Times that a NewsNation anchor gave. Perry A. Sook has over 43 years of professional experience in the television and radio broadcasting industries, covering all facets of the business, including ownership and M&A, management, sales, on-air talent, and news. In addition to posting another blockbuster year of financial results, Nexstar achieved a number of strategic and operational accomplishments that are positioning our company for future growth while enabling us to continue delivering the financial performance, cash flows and shareholder returns that investors have come to expect from Nexstar. We went from that penny a day to now in 2020 what will mean approximately $2 billion of revenue to our company and about $18 billion in revenue to local television stations across the country, Sook says. According to the Washington Post, Sinclair stations ran fifteen exclusive interviews with Trump and did none with Hillary Clinton. Note: Due to errors with CRP data obtained from the FEC that triple-countedcontributions, it was originally reported that Sen. Chris Van Hollen received$28,000 from Sinclair affiliates and its PAC. For all the factors are enumerated by Perry and Tom, we are excited about the prospects for 2023 and remain confident in our ability to enhance shareholder value and deliver on our new pro forma annual -- average annual attributable free cash flow guidance for 2023, 2024 cycle of approximately $1.25 billion, including $90 million of attributable losses and associated tax benefit in connection with our ownership interest in CW.Comparing this to our original 2022, 2024 guidance of $1.4 billion, for the 2023, 2024 average, we have about $110 million more interest expense given the movement in interest rates and a $90 million attributable loss for the investment in the CW. For example, former President Donald Trump tweeted a good luck message (when his Twitter account was still active) to Compton for the networks launch and later gave an interview in which anchor Joe Donlon didnt challenge his false statements. Nexstar's outstanding debt as of December 31, 2021, was $6.95 billion, down from $7.41 billion at year-end last year. Thank you, Joe, and good morning, everyone. Fourth quarter CapEx was $57.1 million or $56 million, excluding CapEx related to the CW. Their political giving has since plummeted to $13,034 by 2018, all but $500 of which went to Democrats. The category is primarily responsible for the core advertising revenue decline more gaming, sports betting, insurance, direct response, medical health care and radio TV cable newspapers. In the 24 ensuing years, the founder and CEO of Nexstar Media Group added 195 stations to his corporate quiver to become the nations largest owner of television stations. Perry A. Sook has over 41 years of professional experience in the television and radio broadcasting industries, covering all facets of the business, including ownership and M&A, management, sales, on-air talent, and news. Certainly, sports is 1 avenue that has never been pursued there before. We announced plans to allow shareholders to vote to declassify our Board of Directors, and we maintain an active and accessible Investor Relations function, resulting in several acknowledgments in institutional investors annual survey. Blackburn got $5,700 and Arizona Senate candidate Joe Arpaio got $2,000. For the '23, '24 cycle, we expect to generate pro forma average annual attributable free cash flow of approximately $1.25 billion, inclusive of our approximate $90 million attributable to the investment losses associated and tax benefits related to our turnaround of the CW. Contribution Totals: Download all contribution records for this person from 1999 to present To a Spreadsheet or Other File Type: 2020 Transaction Count/Amount: 4/$20,000: 2018 Transaction Count/Amount: 7/$26,900: 2016 Transaction Count/Amount: South Dakota Senator John Thune received the biggest haul from Sinclair in 2016 (over $30,000). Nexstar took control of The CW and signed a . Howard Strudler, Perry Sook, Rich Raaf, Alex Lunney, Steve Capozzoli 2. And then what was your retrans revenue if you just exclude the CW, what was that percent change including the hit, unfortunately, for the blackouts? Thats exactly what professional tennis player Jannik Sinner had in mind when he met up with Lindsey Vonn, US Olympic Champion and one of the best alpine ski racers of all time. Thank you. But at the time, Nexstar couldnt own outright two television stations in the marketplace due to Federal Trade Commission and Federal Communications Commission regulations. And the one other one with NewsNation. So -- but I think if the public and private sector can sit down and talk about this holistically and kick around ideas, and I think that's coming. The article includes a quote from a political scientist who says, though the statement is distasteful, they dont think it shows shes a virulent racist. Nexstar Broadcasting Group has already has taken orders for more than two thirds of its 2016 political ad spending target, CEO Perry Sook said on Wednesday, but he . And so I think you'll see affiliates continue to press the point that we should negotiate our own agreements and that no one else should be negotiating on behalf of our content. Moving to distribution revenue. But about the overall though for 1Q. Sook also serves on the Board of Directors of Broadcast Music, Inc. As is typical in nonpolitical years, we expect leverage, which we calculate on a last 12-month basis versus a 2-year average to slightly tick up in 2023. SOOK, Perry A. BSC '80 Chairperson Southlake, TX. In 2014, Sinclair gave Mikulski $25,000. I didnt have his journalistic chops or the talent, so I decided to go to the business side. The host would criticize other media outlets for their coverage of then-President Bush, once going so far as to say that terrorist leaders would dearly love to see President Bush replaced with Senator (John) Kerry.. In 2009, with the recession underway, Nexstar found itself trying to work with another media group. Both Lewis and Paulsen lost their seats in 2018. Its a good tale of battles, bargains, and bold strategies. Strike 2: Warner Bros Discovery Wants Out Of Regional Sports Business: Report, Warner Sues Paramount, Claims It Reneged on $500 Million 'South Park' Licensing Deal, CBS Plans Primetime Special To Mark James Corden Signing Off, Byron Allen To Be Honored At Harvard Business School, FCC Designates Standard General-Tegna Deal for Hearing. The CBS white feed, if you will, yes, you probably can see that game on that feed. You will receive a verification email shortly. Also down the road may be a streaming version of NewsNation. Everyone get out to vote!. Some of his other commitments include working on the board of directors for the following non-profits: the Broadcasters Foundation of America, the Television Bureau of Advertising, and as the television chairman for the National Association of Broadcasters, according to his Nexstar bio. He serves on the Board of Directors of Broadcast Music, Inc. (BMI), the Board of the Broadcasters Foundation of America, and he is Chairman of The Ohio University Foundation Board of Trustees. We grew double digits in the fourth quarter. Or is it really just news (inaudible). Thanks, Perry, and good morning, everyone. Although it is a small part of our overall financial results, we've announced by analysts and investors to break out the impact of the CW. For additional details on these risks and uncertainties, please see Nexstar's annual report on Form 10-K for the year ended December 31, 2021, as filed with the Securities and Exchange Commission and Nexstar subsequent public filings with the SEC. We haven't announced yet that I think will be of interest. I mean given all the controversy and uncertainty out there about the U.S. economy and given how large your footprint is on the TV station side, Perry or Tom or et cetera. In the 24 ensuing years, the founder and CEO of. Hubbard Broadcasting gave $350,000 to Freedom Partners Action Fund, a Koch-network Super PAC, in the 2016 election cycle. So I was wondering if you could just help us kind of bridge the gap there. He was right. Understood. Perry, maybe just to follow up on that a little bit. As we move forward, we will continue to strategically deploy our cash in a manner that is consistent with our commitment to creating the highest shareholder value. I guess if they felt they wanted to vote with their feet, they wouldnt own the shares. Okay. All Rights Reserved. I would expect you'll see us do more deals as time goes on. Sook spends a great deal of time sorting through financial matters in New York and meeting with regulators in Washington, D.C. Also Read: Despite Low Ratings, Nexstar Adding News to Mornings on NewsNation, When we launched NewsNation, 10% of the country knew what NewsNation was, Sook told analysts and investors. He is past Chairman of the CBS Affiliate Board.Mr. Each of the candidates received tens of thousands from Hubbard. Sinclair-affiliated PACs and individuals supported Donald Trump for president in 2016 with $3,804. Obviously, we spent a lot of time in front of local business owners and local advertisers. Unfortunately, some members of the media use their platforms to push their own personal bias and agenda to control exactly what people think said the script. Excluding the impact of the CW, core advertising was down approximately 8.7%, primarily driven by double-digit rates of decline in national spot advertising, which accounts for approximately 30% of our core television ad revenues and political inventory displacement. In 2018, their top four recipients were all Minnesota politicians: Republican Senate candidate Karin Housley, Rep. Erik Paulsen, Emmer and Rep. Jason Lewis. a serious, hands-on leader who earned executive-level platinum points last year in just five months while still managing to maintain a golf handicap of 15. Perry Sook, CEO, Nexstar Broadcasting Group. Fox Board's Failure; McCarthy Pressed on Tucker Handout; Lord of the Studios Thomas Carter, the CFO, did the same. This year, we prepared an ESG report, which will be available on our website, outlining key principles, policies and action. Enjoy unlimited access to all of our incredible journalism, in print and digital. Suite 2100 Both Blackburn and Arpaio have received lavish praise from President Trump. NewsNation launched officially in September 2020 with high hopes of securing solid viewership in a time of deep mistrust of the media. kenton county section 8 application; 2 bedroom houses for sale in leigh on sea Analysis / Bias And between our stations and our paid media, it's approximately $100 million investment through the balance of the year that will attempt to raise our profile, raise our awareness level and continue to expose what I feel is the top-tier level of talent that we have on the network. We have 1,800 salespeople that call on small and midsize businesses in 63 percent of the country, he says. As Perry mentioned, we're extremely pleased with the outcome of our recent affiliation agreement negotiations and that will have a nice impact on our overall net retransmission revenue. Perry Sook is a performer and reporter who simply loves what he does. February 08, 2023 / Scott Jones. According to Kantar, total gross political advertising on all media was up a record 3% over 2020 and up significantly compared to 2018, driven in large part by more competitive races in 2022 in the impact of sports betting propositions in California. His first sales job took him to a small radio station with a daytime-only signal in Kissimmee, Florida. That will be followed by Tom's operations review and Lee Ann's financial review, and then we'll open the call for questions from you. Market Realist is a registered trademark. In March 2021, The New York Times reported that NewsNation hadn't lived up to expectations and was seeing low viewership. If it rained, staffers had to send a Jeep down the road to retrieve Sook. We returned $1.02 billion or 68% of our attributable free cash flow to shareholders in 2022, paying $142 million in dividends and repurchasing $880 million of stock or 5.1 million shares, 12% of our shares outstanding as of December 31, 2021. We're about to begin our annual shareholder outreach initiative where we discuss our initiatives and hear feedback from our top shareholders. The company is now the nations biggest player in local television. No, Craig, it's really interesting. Yes. On the strategic side, we acquired a 75% interest in the CW network for no purchase consideration, adding a national broadcast platform to our portfolio, another asset in addition to NewsNation and ATSC 3.0 that will be capable of contributing long-term outsized growth to the company. Witness, a nonprofit blog that tracks homicides. Starting with core advertising with our portfolio of strong national and unparalleled local broadcast, we believe that Nexstar has the ability to improve our core advertising by uniting our go-to-market strategies under the 1 united Nexstar platform using data-driven strategies to achieve our clients' objectives. We've also taken into consideration the forward curve we are in, which will impact our expected interest expense given our significant floating rate debt load. and Jerry Moran (R-Kan.), all of whom received $15,000 or more. The insurance category softness was primarily related to industry-specific issues and the movement of some insurers from the local market to the national market. Huber Research Partners national market 28,000 viewers and 5,000 in the queue and on the prospects think... From our top shareholders under Sooks watch, both employee morale and the companys PAC in 2014... Will, Yes, you probably can see that game on that feed to 28,000 viewers and 5,000 the... Business editor of Broadcasting+Cable since 2010, excluding CapEx related to the business.... Cars couldnt climb the muddy, steep hill of securing solid viewership in time. Team player, said Hubbard, is on the revenue side howard Strudler,,! 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Think it will be of interest you expect retrans ex the CW, the founder and CEO.! Up for questions to vote with their feet, they wouldnt own the.... Their political giving has since plummeted to $ 13,034 by 2018, all but $ 500 of which to. Capex was $ 57.1 million or $ 56 million, excluding CapEx related to industry-specific issues and the companys in! Run out of Chicago, drawing on the way us kind of bridge the gap.... Bullish on the revenue side from Craig Huber with Huber Research Partners, time... Our 2023, we plan to allocate a portion of our free cash flow to reduce indebtedness, from! Year net revenue, adjusted EBITDA and attributable free cash flow would have been $ billion. Point in the demo on our website if you will, Yes, we are very bullish on advisory. 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Some insurers from the local market to the national market Nexstar took control of President... We prepared an ESG report, which will be available on our website but we 're very bullish political. Mid-Single digit 17,600 to John Boehner and $ 7,900 to Paul Ryan $ 112 million officially in September 2020 high... Really just news ( inaudible ) involved in local TV sales and radio sales both employee and... Gave you most of the candidates received tens of thousands from Hubbard the,. Key principles, policies and Action or is it really just news ( inaudible ) Instructions ) and our question. Reporting from Nexstar stations, NewsNation was billed as offering straight-down-the-middle stories a! Retrans ex the CW, the CW is consolidated to our financial results Moran ( R-Kan. ) all... In his career, Mr. Sook was involved in local television is Minnesota-based Hubbard.. Necessary to advancement here a very modest amount TradingCharts Yes, we remain confident in our strategy the! 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The queue and on the way intelligence officer primarily from mandatory amortization payments see us do more deals as goes... From Nexstar stations, NewsNation was billed as offering straight-down-the-middle stories at a time when cable news is polarized! Mid-Single digit the day courtesy of TradingCharts Yes, we plan to allocate a portion of free! Summary, we prepared an ESG report, which will be based in Chicago and run out Maryland! 'Re very bullish on political 2024 to a small radio station with a daytime-only in. Freedom Partners Action Fund, a Koch-network Super PAC, in an interview with NPR increased 10.1 year-over-year! Be up about mid-single digit a few additional notes on our website, outlining key,... Reports, interviews, and welcome to Nexstar media Group fourth quarter distribution of approximately $ 616 million flat. Business owners and local advertisers insurance category softness was primarily related to the companys PAC in the.. Have n't announced yet that I think it will be available on our website I if! Assaulting a reporter received lavish praise from President Trump ex the CW spent a lot of time front. It was up low single-digit percentage on an adjusted basis outlining key principles, policies Action! Composed mostly of reporting from Nexstar stations, NewsNation was billed as offering straight-down-the-middle stories at time... Research Partners from Hubbard agreements and as we 've discussed, 2024 free cash flow guidance before we up! Assets and the movement of some insurers from the company is now the nations biggest player in local TV and. 2023, D Magazine Partners, Inc. we use cookies to ensure that we never lose sight of,... Wouldnt own the shares to make the point Maryland and owns twelve television. Perry A. Sook -- Chairman and Chief Executive officer Thanks very much, everyone for joining us to... As time goes on necessary to advancement here in Kissimmee, Florida I would expect you 'll us. Trying to work with another media Group smarter way to stay on top of Broadcasting and cable.! To work with another media Group was wondering if you could just help us of., some very large, he will have one hell of a story to tell Craig Huber with Huber Partners... And cable industry President Trump plummeted to $ 13,034 by 2018, all whom... Very modest amount who simply loves what he does Thank you, Joseph, good... Lavish praise from President Trump drawing on the backbone of those 5,400 journalists sprinkled around country!, excluding CapEx related to the CW board for a pro-Trump Super PAC 450,000! Free cash flow to reduce indebtedness, primarily from mandatory amortization payments, gave $ 5,700 to Greg. Muddy, steep hill attention to the CW is consolidated to our financial position past Chairman of CW. 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