Nexstar Media Group extends employment agreement of CEO through March 2026

Nexstar Media Group, Inc., has announced that its board of directors has extended the employment agreement of Chief Executive Officer Perry A. Sook through March 31, 2026. In addition to his responsibilities as CEO, Sook also serves as the company’s chairman and he remains a top shareholder of the company.

Sook founded Nexstar Media Group in 1996 and has served as CEO since that time. During his tenure, Sook has spearheaded the company’s transformative growth. Today, Nexstar is a leading diversified media company and America’s largest local broadcasting group, with annual revenue rising from approximately $87 million at the time of the November 2003 initial public offering, to over $4.6 billion in 2021.

Nexstar’s consistent growth, financial outperformance, operating execution and record of value creation under Sook’s leadership have enabled Nexstar to become one of the best performing stocks of the past 10 years. With total shareholder returns of more than 1,800% through 2021 year-end, Nexstar has outperformed the S&P 500, Comcast, Paramount, Disney, Google, Apple and Amazon.

Dennis Miller, chairman of Nexstar’s board of directors Compensation Committee, commented, “Given his long-term record of accomplishments, we are delighted to extend Perry’s employment agreement. He is rightfully recognized as the industry’s most effective leader and innovator, and his vision, commitment and team-building have driven Nexstar’s exceptional record of operating execution, consistent financial growth and the enhancement of shareholder value, while positioning the company to aggressively compete in the ever-changing media environment. On behalf of the entire board of directors, we are grateful for Perry’s contributions and look forward to the continued benefit of his vision and dedication to the company’s viewers, advertising clients, team members, shareholders and other stakeholders.”

About Nexstar Media Group, Inc.:

Nexstar Media Group, Inc. (NASDAQ: NXST) is a leading diversified media company that produces and distributes engaging local and national news, sports and entertainment content, including 290,000 hours of original video content each year. Nexstar owns America’s largest local broadcasting group comprised of top network affiliates, with 200 owned or partner stations in 116 U.S. markets reaching 212 million people. Nexstar’s television assets also include NewsNation, America’s fastest-growing national news and entertainment cable network reaching 75 million television homes, popular entertainment multicast networks Antenna TV and Rewind TV, and a 31.3% ownership stake in TV Food Network. The company’s portfolio of digital assets, including The Hill and BestReviews, are collectively a Top 10 U.S. digital news and information property. In addition to delivering exceptional content and service to our communities, Nexstar provides premium multiplatform advertising opportunities at scale for businesses and brands seeking to leverage the strong consumer engagement of our compelling content offering. For more information, please visit www.nexstar.tv