How a Texas-based broadcaster became the largest owner of television stations in America
In short: Nexstar Media Group transformed from a single station in Scranton, Pennsylvania, into a multimedia powerhouse owning 265 television stations. By mastering complex shared-services agreements and aggressive acquisitions, the company now influences media across the United States, controlling everything from local news networks to the national CW television network.
Founded on June 17, 1996, Nexstar began its journey by purchasing WYOU in Scranton, Pennsylvania. Founder Perry Sook quickly established a pattern of operational efficiency, firing staff and moving production to a shared facility with WBRE-TV in Wilkes-Barre. This innovation, the first-ever shared-services agreement, allowed Nexstar to control news-gathering operations while maintaining separate management, a model that would define its rapid expansion strategy for decades.
The company’s growth accelerated through massive acquisitions, including the $4.6 billion purchase of Media General in 2016 and the $6.4 billion merger with Tribune Media in 2019. These deals pushed Nexstar to the edge of the Federal Communications Commission’s 39-percent national market coverage cap. To navigate these regulatory limits, Nexstar frequently utilized divestitures to partners like Mission Broadcasting, often retaining operational control through agreements that allowed them to maintain a dominant footprint in markets ranging from New York City to San Angelo, Texas.
In recent years, Nexstar has diversified its portfolio beyond traditional broadcasting. It launched the national news channel NewsNation in 2020 and acquired a majority stake in The CW network in 2022, later increasing its ownership to 77.1% by December 2024. Despite frequent carriage disputes with major providers like DirecTV and Dish Network, Nexstar continues to consolidate its influence, recently expanding into digital assets like BestReviews and the political news site The Hill, cementing its status as a central pillar of the American media landscape.
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- Summary by Intellect · source: Nexstar Media Group
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