Nexstar Media Group, Inc. (Nasdaq: NXST) announced today changes
and appointments to its executive and senior management team to
support the Company’s expanded platform, increased scale and near-
and long-term growth objectives. The appointments follow
yesterday’s close of Nexstar’s acquisition of Media General,
Inc.
Commenting on the appointments, Perry A. Sook, Chairman,
President and CEO of Nexstar Media Group, stated, “Over the last
two decades, our strategy of appointing proven broadcast and
digital media leaders with long-term records of delivering
industry-leading innovation, distribution and core revenue growth,
meticulous M&A integration and enterprise-wide cost management
has been fundamental to our consistent long-term success. As a
result, Nexstar has a deep, capable team of operations, finance,
content, digital, and legal executives to manage the expanded
platform. In addition, our stations are led by experienced,
results-oriented broadcast executives with regional oversight. We
are confident in the ability of these teams to ensure our ongoing
success.
“With the executive and senior management appointments announced
today, the new Nexstar Media Group will be well positioned to
extend our legacy of delivering exceptional service to the local
communities where we operate and value to our shareholders. The
appointments reflect our proven integration strategy of marrying
best of breed practices from our existing operations with those
from Media General. We are energized and excited about the
opportunities before us and ready to move forward together as the
largest local media company in the United States and remain
committed to localism and exceptional service in our markets in
2017 and beyond.”
Nexstar Media Group, Inc. Executive Management Appointments
and Changes
Elizabeth Ryder has been promoted to Executive Vice President
and General Counsel of Nexstar Media Group, Inc. Ms. Ryder most
recently served as Senior Vice President and General Counsel of
Nexstar Broadcasting Group, a position she held since May 2009.
During her tenure, she has served as an integral member of the
senior management team and a valuable resource to Nexstar in the
negotiation of carriage agreements with its distribution partners
and managing legal and regulatory matters related to the Company’s
television and digital operations, including its significant
M&A activity. Ms. Ryder will continue to be responsible for
Nexstar’s legal strategy and all aspects of daily operations as
General Counsel, including correspondence related to FCC regulatory
compliance, programming and carriage negotiations, acquisitions and
divestitures and other legal matters to ensure regulatory
compliance and mitigate corporate risk.
Prior to joining Nexstar, Ms. Ryder served as Vice President,
Legal Affairs at First Broadcasting Operating, Inc. where she
specialized in corporate legal and transactional matters, due
diligence and FCC regulatory compliance. From 2002 to 2007, she
served as both Associate and Counsel at Drinker Biddle and Reath,
LLP, a Washington, D.C.-based law firm, where she provided advanced
legal counsel to clients across the media and cable industries,
including Nexstar. Ms. Ryder began her legal career in 1997 serving
for four years as an Associate at Arter & Hadden, where she
focused on legal matters on behalf of the firm’s broadcast and
telecommunications clients.
Brett E. Jenkins has been named Chief Technology Officer (“CTO”)
of Nexstar Media Group, Inc., a newly created position at the
Company. Mr. Jenkins most recently served as Vice President and CTO
of Media General, Inc. from 2014 to 2016, following Media General’s
merger with LIN Media. He previously served in the same capacity at
LIN Media from 2011 to 2014, prior to the merger. In his new role
at Nexstar, Mr. Jenkins will oversee the Company’s IT and
engineering functions and advise the executive team on new
technologies, trends and best practices for integration. He will
also be responsible for developing new business models and products
across all areas of technology, with the goal of maximizing the
growth and efficiency of Nexstar’s broadcast and digital
operations. The appointment is effective immediately, and Mr.
Jenkins will report to Perry Sook, Chairman, President and CEO of
Nexstar Media Group.
Mr. Jenkins earned his Bachelor of Science in Electrical
Engineering (BSEE), cum laude, from University of Massachusetts,
Amherst in 1992 and his Master of Business Administration (MBA)
from Boston University in 2005. He currently serves on the Board of
the Advanced Television Systems Committee (ATSC) and is a former
member of on the External Advisory Board for the University of
Massachusetts’ Department of Electrical and Computer
Engineering.
Nexstar Broadcasting, Inc. Executive Management Appointments
and Changes:
Timothy Busch has been promoted to President of Nexstar
Broadcasting Inc., and brings over 31 years of broadcasting
experience to his new role. Since 2008, Mr. Busch has served as
Executive Vice President and Co-Chief Operating Officer of Nexstar,
where he had oversight and responsibility for the Nexstar owned or
operated stations located east of the Mississippi River. During his
tenure, he has served as an integral member of the executive
management team and a valuable resource to Nexstar in deploying
initiatives focused on growing the Company’s advertising supported
revenue streams, including political and new to television
advertising, as well as the successful integration of over [125]
acquired television stations. In his new role, Mr. Busch will be
responsible for overseeing all facets of Nexstar’s local media
operations and will work with executive and senior management teams
to develop new opportunities for the Company to further leverage
its valuable local programming and content to drive advertising
revenue growth across its local, national, political and
cross-platform verticals. The appointment is effective immediately,
and Mr. Busch will continue to report to Perry Sook, Chairman,
President and CEO of Nexstar Media Group.
Earlier in his Nexstar career, from 2002 to 2008 Mr. Busch
served as Senior Vice President and Regional Manager of Nexstar’s
Eastern Region consisting of 15 television stations in 10
markets. Prior to that, he served as the Vice President and
General Manager of WROC-TV (CBS) in Rochester, New York. Before
joining Nexstar, Mr. Busch was General Sales Manager of the
Gannett-owned NBC affiliate in Buffalo, New York for seven years.
He also held advertising sales management positions in television
and radio since 1985. Mr. Busch has served on various Boards in the
Rochester and Buffalo areas as well as the New York State
Broadcasting Association, New York Federal Reserve Advisory Board
and as the former Chairman of the CBS Affiliate Board.
Brian Jones has been named to Executive Vice President and Chief
Operating Officer of Nexstar Broadcasting Inc., and brings over 36
years of television broadcasting experience to his role. Since
2008, Mr. Jones has served as Executive Vice President and Co-Chief
Operating Officer of Nexstar, where he had oversight and
responsibility for the Nexstar owned or operated stations located
west of the Mississippi River. Mr. Jones has served as an important
member of the executive management team and a valuable resource to
Nexstar in developing and implementing cross-platform growth
strategies, during the rapid expansion of the Company’s broadcast
operations. As Chief Operating Officer, Mr. Jones will continue to
work with the executive and regional management teams to drive
market and revenue share growth while building upon the Company’s
excellent record of local programming, community involvement,
client service and viewer engagement. Mr. Jones will report to
Timothy Busch, President of Nexstar Broadcasting Inc.
Earlier in his Nexstar career, from 2003 to 2008 Mr. Jones
served as Senior Vice President and Regional Manager of the
Company’s Southwest Region consisting of 20 television stations in
11 markets. Prior to joining Nexstar, he served as Vice President
and General Manager of CBS owned and operated KTVT and KTXA-TV in
Dallas/Fort Worth, TX for seven years. Prior to that, he held
various executive management and sales positions with KTVT, MMT
Sales Inc. and KXAS-TV (NBC) for seven years. Mr. Jones served as
the Chairman of the FOX Affiliates Association Board of Governors
and also served as Chairman of the Texas Association of
Broadcasters Board of Directors. He is a member of the FOX
Affiliates Association Board of Governors and the National
Association of Broadcasters Small Market Advisory Committee as well
as the Southern Methodist University School of Journalism Advisory
Committee. Jones also served as a board member of the CBS
Affiliates Association.
Nexstar Broadcasting, Inc. Senior Management
Appointments:
Nexstar has promoted Diane Kniowski, Doug Davis and Mike Vaughn
to serve in three newly-created regional management positions. The
appointments reflect Nexstar’s strategy to retain proven broadcast
and digital media leaders to oversee assets on a regional basis
while enhancing its commitment to serve viewers and advertisers
across its on-air and digital media platforms.
In their new respective roles, Ms. Kniowski, Mr. Davis and Mr.
Vaughn will work across the Nexstar organization and with other
corporate personnel to administer policies and procedures to
improve operating efficiencies and the effectiveness and service of
the Company’s operations. Additionally, they will be responsible
for executing and monitoring action plans aimed at achieving
corporate and regional business objectives and financial goals. The
appointments are effective immediately and Ms. Kniowski, Mr. Davis
and Mr. Vaughn will report to Timothy Busch, President of Nexstar
Broadcasting, Inc.
Diane Kniowski has been appointed Senior Vice President and
Regional Manager of Nexstar Broadcasting, Inc. and will have
oversight of station operations in Michigan, Illinois, Iowa,
Wisconsin, Montana, North Dakota and South Dakota. Ms.
Kniowski brings over 40 years of experience across all facets of
the broadcasting and advertising industry to her new role,
including serving as a Media Buyer, Media Planner, National Sales
Manager, General Sales Manager and General/Regional Manager. Prior
to Nexstar’s acquisition of Media General, Diane served as Vice
President and General Manager of WOOD-TV (NBC), WOTV (ABC) and WXSP
(MyNetwork) in Grand Rapids, Michigan (DMA #44) for seventeen
years. In addition to her station management role, she acted
as a Regional Manager overseeing station operations in Michigan and
Indiana. Her career highlights include putting a cable-based Sports
Channel on the air in West Michigan, bringing free Detroit sports
to the western side of the state. Ms. Kniowski currently serves on
the ABC Board of Directors and serves as the ABC Board liaison for
the ABC Marketing Association. She is the past chair of the
Michigan Association of Broadcasters and has served on the Michigan
Association of Broadcasters Foundation Board, American Women in
Radio and Television, Grand Rapids Economic Club, Grand Rapids Area
Chamber of Commerce and Children’s Miracle Network Board at Helen
Davos Children’s Hospital. She was recognized in 2009 as a top 50
Woman of Achievement in Western Michigan.
Doug Davis has been appointed Senior Vice President and Regional
Manager of Nexstar Broadcasting, Inc. and will have oversight of
station operations in Virginia, North Carolina, West Virginia,
Ohio, Massachusetts, Connecticut and Rhode Island. Mr. Davis brings
33 years of broadcasting and sales management experience to his new
role at Nexstar. Prior to the Company’s acquisition of Media
General, Mr. Davis served as President and General Manager of
WAVY/WVBT, the NBC/FOX duopoly in Norfolk, Virginia (DMA #42) for
eleven years. Prior to that, he served as Station Manager of WVBT
from 2000 to 2005 and as a Local Sales Manager of WAVY from 1995 to
2000. Earlier in his career, he held Account Executive positions
with Cox Cable and WVEC-TV (ABC) in Norfolk from 1989 to 1995. A
graduate of Duke University, Mr. Davis began his career in 1984 at
the National Video Center in New York. He is a past President of
The Virginia Association of Broadcasters and former board member of
the FOX Affiliate Board of Governors. He is a long-serving member
of the Development Advisory Board of Children’s Hospital of the
King’s Daughters and remains active in many community organizations
throughout southeastern Virginia.
Mike Vaughn has been appointed Senior Vice President and
Regional Manager of Nexstar Broadcasting, Inc. and will have
oversight of station operations in Arkansas, Louisiana, Missouri
and Tennessee. Mr. Vaughn brings over 23 years in broadcasting and
sales management experience to his new role, including a deep
understanding of Nexstar and its critical functions including
station management, news and local programming, digital and social
media integration and strategic planning. Prior to his appointment,
from 2011 to 2016 he served as Vice President and General Manager
of KARK-TV (NBC) in Little Rock, Arkansas (DMA #57). Mr. Vaughn was
also responsible for managing Nexstar’s relationship with
Mission Broadcasting’s KLRT-TV (FOX) and KASN-TV (CW) in Little
Rock under a joint operating agreement. Prior to that, he was Vice
President and General Manager of KNWA-TV and KFTA-TV, the NBC/FOX
duopoly serving Fayetteville and Fort Smith, Arkansas (DMA #99)
from 2008 to 2011. From 2005 to 2008, Mike served as Director of
Sales overseeing both sales departments in Fayetteville and Little
Rock, Arkansas. Mike started his career with Nexstar in sales and
spent seven years as an Account Executive and Local Sales Manager
for KOZL-TV (formerly KSFX-TV) in Springfield, Missouri (DMA
#75). Mr. Vaughn has been very active in local community
involvement, including business groups and volunteering with youth
sports organizations.
About Nexstar Media Group, Inc.
Nexstar Media Group is a leading diversified media company that
leverages localism to bring new services and value to consumers and
advertisers through its traditional media, digital and mobile media
platforms. Nexstar owns, operates, programs or provides sales and
other services to 171 television stations and related digital
multicast signals reaching 100 markets or approximately 39% of all
U.S. television households. Nexstar’s portfolio includes primary
affiliates of NBC, CBS, ABC, FOX, MyNetworkTV and The CW. Nexstar’s
community portal websites offer additional hyper-local content and
verticals for consumers and advertisers, allowing audiences to
choose where, when and how they access content while creating new
revenue opportunities. For more information please visit
www.nexstar.tv.
Forward-Looking Statements
This communication includes forward-looking statements. We have
based these forward-looking statements on our current expectations
and projections about future events. Forward-looking statements
include information preceded by, followed by, or that includes the
words "guidance," "believes," "expects," "anticipates," "could," or
similar expressions. For these statements, Nexstar and Media
General claim the protection of the safe harbor for forward-looking
statements contained in the Private Securities Litigation Reform
Act of 1995. The forward-looking statements contained in this
communication, concerning, among other things, the ultimate outcome
and benefits of a transaction between Nexstar and Media General and
timing thereof, and future financial performance, including changes
in net revenue, cash flow and operating expenses, involve risks and
uncertainties, and are subject to change based on various important
factors, including the timing to consummate the proposed
transaction; the risk that a condition to closing of the proposed
transaction may not be satisfied and the transaction may not close;
the risk that a regulatory approval that may be required for the
proposed transaction is delayed, is not obtained or is obtained
subject to conditions that are not anticipated, the impact of
changes in national and regional economies, the ability to service
and refinance our outstanding debt, successful integration of Media
General (including achievement of synergies and cost reductions),
pricing fluctuations in local and national advertising, future
regulatory actions and conditions in the television stations'
operating areas, competition from others in the broadcast
television markets, volatility in programming costs, the effects of
governmental regulation of broadcasting, industry consolidation,
technological developments and major world news events. Nexstar and
Media General undertake no obligation to update or revise any
forward-looking statements, whether as a result of new information,
future events or otherwise. In light of these risks, uncertainties
and assumptions, the forward-looking events discussed in this
communication might not occur. You should not place undue reliance
on these forward-looking statements, which speak only as of the
date of this release. For more details on factors that could affect
these expectations, please see the definitive joint proxy
statement/prospectus of Nexstar and Media General and Media
General’s and Nexstar’s other filings with the SEC.
View source
version on businesswire.com: http://www.businesswire.com/news/home/20170118005294/en/
Nexstar Media Group, Inc.Tom Carter, 972-373-8800EVP/Chief
Financial OfficerorJCIRJoseph Jaffoni, Jennifer Neuman212-835-8500
or nxst@jcir.com
Nexstar Media (NASDAQ:NXST)
Historical Stock Chart
From Mar 2024 to Apr 2024
Nexstar Media (NASDAQ:NXST)
Historical Stock Chart
From Apr 2023 to Apr 2024