Nexstar Media Group Names Keith P. Hopkins Senior Vice President of Distribution
July 31 2017 - 04:10PM
Business Wire
Former Tribune Media Executive Brings
Extensive Carriage and Distribution Experience and MVPD
Relationships to New Role
Nexstar Media Group, Inc. (NASDAQ: NXST) (“Nexstar” or “the
Company”) announced today that Keith P. Hopkins has been named
Senior Vice President of Distribution, a new position at the
Company. In his new role, Mr. Hopkins will work with Nexstar
Chairman, President and CEO, Perry A. Sook and Executive Vice
President and General Counsel, Elizabeth Ryder, overseeing
strategic local content distribution initiatives and affiliate
relations for the Company’s broadcast and digital operations in 100
markets across the United States. The appointment is effective
September 1, 2017 and Mr. Hopkins will report directly to Mr. Sook
and Ms. Ryder.
Prior to joining Nexstar, Mr. Hopkins served as Vice President,
Affiliate Sales and Marketing for Tribune Media where he negotiated
complex carriage agreements with multichannel video programming
distributors (“MVPDs”) and new emerging platforms for all of
Tribune’s owned or operated television stations, as well as WGN
America. Before that, he served as Senior Director, Affiliate Sales
and Marketing for the Pac-12 Networks, where he was on a team that
led the global distribution development efforts for the Pac-12
national, regional and digital networks and executed carriage
agreements with DISH, AT&T U-verse, NCTC and Google Fiber,
among other MVPDs. Earlier in his career, Mr. Hopkins was a
National Account Sales Manager at NBC Universal / Comcast
Corporation.
In his new role, Mr. Hopkins will work with Mr. Sook, Ms. Ryder
and other Nexstar corporate personnel to negotiate carriage
agreements with Nexstar’s distribution partners, to advise on
network affiliation contract negotiations including over-the-top
(“OTT”) services, to manage contract and regulatory compliance, to
execute action plans aimed at achieving operational goals, and to
build on the Company’s relationships with networks, distributors,
and syndicators. In addition, Mr. Hopkins will be responsible for
identifying new revenue opportunities to leverage and monetize
changing market dynamics related to distribution, rights, contract
compliance and new entrants.
Commenting on the appointment, Perry Sook, said, “With our
expanded scale, including 170 television stations in 100 markets
across the United States, the successful negotiation of valuable
distribution agreements remains a key strategic priority. With
continued long-term progress against our revenue diversification
initiatives, retransmission fee revenue and other non-core
television revenue now accounts for more than 50% of our total
revenue and our prospects for growth from this revenue stream
remain strong and visible. We believe Keith is the ideal candidate
to complement Elizabeth and I as we further build this revenue
stream.
“Keith’s expertise in local, regional and national programming
distribution makes him well-suited to manage our content delivery
and monetization initiatives. In addition, his leadership qualities
and industry knowledge will help the Company create new revenue
streams through emerging technologies and distribution platforms.
Elizabeth and I look forward to working with Keith as Nexstar
continues to execute our well-defined strategy for sustained growth
through the negotiation of distribution agreements that reflect the
full value of our strong local programming, content offerings and
audience reach, while serving the unique needs of our network and
distribution partners.”
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 170 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 claims 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, 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 impact of changes in
national and regional economies, the ability to service and
refinance our outstanding debt, successful integration of acquired
television stations and digital businesses (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 undertakes 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 Nexstar’s
other filings with the SEC.
View source
version on businesswire.com: http://www.businesswire.com/news/home/20170731005627/en/
Nexstar Media Group, Inc.Elizabeth RyderEVP and General
Counsel972-373-8800orJCIRJoseph Jaffoni, Jennifer
Neuman212-835-8500nxst@jcir.com
Nexstar Media (NASDAQ:NXST)
Historical Stock Chart
From Feb 2024 to Mar 2024
Nexstar Media (NASDAQ:NXST)
Historical Stock Chart
From Mar 2023 to Mar 2024