perry a sook political affiliation

Everyone get out to vote!. Overall, our full year top and bottom line performance was led by strong year-over-year growth in political advertising, distribution revenue as well as digital revenue. Since we own 75% and control the CW, the CW is consolidated to our financial results. No, Craig, it's really interesting. The founder, chairman, president, and CEO of Nexstar is Perry A. Sook. As always, you should use these metrics in connection with our reconciling schedules and financial statements that have been prepared in accordance with GAAP and are filed with the SEC. 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. Sinclairs top three recipients for 2018 were Republican Senators Roger Wicker (R-Miss. 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. So you'll see our net retrans margin increase. I think, again, if we had a sunset for 1.0, even if it was several years, hence, that would cause the set manufacturers to begin to build to that standard, lessen the backward compatibility problem with those that don't have sets -- compatible sets that need dongles or receivers and all of that has to be dealt with and the consumer issues have to come first and foremost. At OpenSecrets.org we offer in-depth, money-in-politics stories in the public interest. We want to necessarily put our playbook out there, but I think you'll see as we move toward the upfront level and the programming schedule that gets -- that will be displayed and deployed for the fall. Our ability to execute on these renewals just reinforces what we already know that broadcast matters. South Dakota Senator John Thune received the biggest haul from Sinclair in 2016 (over $30,000). In the last two years, shareholders have, by the slimmest of margins, rejected multimillion-dollar compensation packages for the CEO. Sook also serves on the Board of Directors of Broadcast Music, Inc. If it rained, staffers had to send a Jeep down the road to retrieve Sook. Please go ahead. Nexstar CEO Perry Sook (Image credit: Nexstar) "When we launched NewsNation, 10% of the country knew what NewsNation was," Sook told analysts and investors. I know that our affiliates in CW affiliates in the top 10 markets generated about 3x the amount of money that the network generated for this first outing. 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. And then on the reverse side, is there any change there to kind of the outlook that you gave a few months back? But not all of his travel is to major metros. Perry A. Sook serves as Chairman of the Board, Chief Executive Officer of the Company. As a percentage of net revenues, our total expenses declined given our focus on controlling expense growth and significant political revenue growth. He wants to tell stories that are happening outside the beltways. Please refresh the page and try again. In 2018, their top four recipients were all Minnesota politicians: Republican Senate candidate Karin Housley, Rep. Erik Paulsen, Emmer and Rep. Jason Lewis. Suite 2100 No matter how talented an athlete is, seeking advice from those who have gone before you is part of the journey to success. And in our recent distribution and renewal negotiations, our ownership of the CW positively impact the outcomes of those discussions by an amount that already effectively paid for the investment that we'll make in the network. I think you'll see us more active on the debate stage. But not all of his travel is to major metros. 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? NewsNation aired an interview with President Donald Trump in September 2020. The network's current lineup of TV hosts now include Elizabeth Vargas, Dan Abrams, Chris Cuomo, and Ashleigh Banfield. 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. He is past Chairman of the CBS Affiliate Board. 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. So, in our ads, we put the general manager of the cable companys home phone number so people could express their opinion, Sook says. I appreciate that. To that end, on the cover of our earnings release and in the tables at the back of the release, you will be able to find selected financial metrics for Nexstar on a consolidated basis, for Nexstar, excluding the CW and also for the CW on a stand-alone basis. 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. We recorded $14.8 million in distributions from equity investments related to our 31% ownership in the TV Food network in the fourth quarter, which represents a 13.5% decrease over prior year quarter. 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. Aerosmith co-founder Joe Perry isn't at all cagey about his political beliefs or his stance on issues. Consumers of news media rightfully want to know whos creating and supporting the information theyre watching and reading. 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. A recent graduate of the University of Oklahoma Weitzenhoffer School of Musical Theatre, Perry now lives in New York City, but loves performing . Mr. Sook currently serves as Chairman of the CBS Affiliates Board and The Ohio University Foundation Board. Extended our network affiliation agreements with ABC. Since NewsNations launch, several incidents of conservative and/or pro-Trump bias have occurred. The linear television business is a fairly mature industry, and we wanted to be one of the leading consolidators, he explains. (Podcast). Fourth quarter distribution of approximately $616 million was flat to the prior year. Were going to represent those who are underrepresented.. Witness, a nonprofit blog that tracks homicides. 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 . Sook was named the 2009 Broadcaster of the Year by Broadcasting and Cable (B&C) and was among the honorees inducted into the B&C Hall of Fame in 2014. In 2014, the Hubbard Broadcasting gave the Super PAC $450,000, $300,000 from the company and $150,000 from individuals. Curious if you could size that up a bit. If that's a local game? I think that is absolutely necessary to advancement here. NewsNation launched officially in September 2020 with high hopes of securing solid viewership in a time of deep mistrust of the media. Looking ahead, excluding the impact of the CW affiliate fees, given our recent contract resets, we expect distribution revenues to be up high single to low double digits for 2023, depending on the outcome of our partners' ongoing negotiations with multiple -- with a couple of MVPDs on which they are currently dark and inclusive of our projections for subscriber attrition. Sign up for our newsletter to track moneys influence on U.S. elections and public policy. And then lastly, just on sports content. Overall, in the quarter, we saw an increase in the rate of decline in our subscribers to the mid-single-digit range, which was impacted by higher rate of MVPD declines offset by continued growth at virtual MVPD and DTC subscribers. I wonder if you could talk about that a little bit, too. Nexstars $7.1 billion purchase of Tribune Media changed everything. Democratic SenatorChris Van Hollen (Md.) Its important to stay active and connected to the folks who do the work in the business, representing Nexstar in their local communities every day. And 2022, we did 50 debates across our company, 3 of which we put on the national cable network to offer to all of America outside of the states in which they were being contested. But at the time, Nexstar couldnt own outright two television stations in the marketplace due to Federal Trade Commission and Federal Communications Commission regulations. Now were obviously getting smaller rates because our ratings are smaller, Sook noted. And people are enthusiastic about engaging in those conversations. I had one for a cloud, one for the sun. The experience didnt endear him to journalism. Do we know enough yet to know if it's a buyer's market? We grew double digits in the fourth quarter. And, prior to that, in January of 2017, we closed on the acquisition of Media General, a $4.6 billion transaction. You should also note that we have streamlined the number of EBITDA and free cash flow metrics we are showing on our earnings release cover page. That's helpful. The PAC gave $10,000 to Sen. Ted Cruz (R-Texas) and the same amount to committees associated with Senate Majority Leader Mitch McConnell (R-K.Y.) As such, Nexstar shares represent a solid investment opportunity for existing and potential shareholders as we are the largest broadcast company with top-tier operational performance in the sector but we trade at a very modest '23, '24 free cash flow yield. The PAC favors Republicans, but only slightly. With that, it's now my pleasure to turn the conference over to your host, Nexstar Chairman and CEO, Perry Sook. Mr. Sook was here to talk about our ongoing efforts to support our local communities. According to Open Secrets, Nexstar Media group gave more money to Republicans in the 2018 election cycle (45% to Democrats, 55% to Republicans). Finally, Nexstar continues to lead the industry in total deployment of ATSC 3.0 or NextGen TV with markets reaching approximately 35% of the U.S. households, and we have a goal of reaching 50% of the U.S. populations with ATSC 3.0 signals via our stations by the end of this year. 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. Last quarter, you announced the Clippers deal. This is an important fact as there is no regulatory limit on pricing for these advertisers and these dollars can quickly shift from race to race as political season progresses and benefits a scale player like Nexstar since we have stations in a substantial majority of the competitive markets. Sook recalls running commercials with us holding up a penny and asking, Dont you think were worth a penny a day on your cable bill?, The Nexstar CEO felt he was on the right side of things and that cable customers would be willing to pay to get their local news content. The only time we had video of what was going on in town was if there was a car wreck or a house fire, Sook says. Sook did his undergraduate work at Ohio University in Athens, OH and was an adjunct professor at Edinboro State University of Pennsylvania.He and his wife Sandra have three children: Laura, Victoria and Perry, Jr. Despite the trends, we continue to expect to see spending in this category, albeit at a more modest clip. Nexstar's stock has been one of the best short- and long-term performing stocks in media, one of the highest percentage returns of free cash flow to shareholders in media along with solid long-term growth prospects and a low valuation. Mr. Sook also worked briefly as a television news anchor at the CBS affiliate in Clarksburg, WV.In June 2021, Mr. Sook was elected Television Board chair for the National Association of Broadcasters (NAB). There was a problem. In the fourth quarter, the CW generated $66 million of revenue and $64 million of adjusted EBITDA losses in line with our expectations for the quarter. And important for us, the linear broadcast ratings increased 21% from Saturday to Sunday, so all of which is to say those numbers exceeded our expectations. Before Superior, Mr. Sook was President/CEO of Seaway Communication, Inc., owner of network affiliated stations in Bangor, ME and Wausau, WI. NATIONAL ASSOCIATION OF BROADCASTERS POLITICAL ACTION COMMITTEE (NABPAC) - Unknown: SOOK, PERRY MR. IRVING, TX 75062: Nexstar Broadcasting Group, Inc./Chairman, President & Ceo: $5,000: 04/08/2015: P: NATIONAL ASSOCIATION OF BROADCASTERS POLITICAL ACTION COMMITTEE (NABPAC) - Unknown: SOOK, PERRY FLOWER MOUND, TX 75022: Nexstar Broadcasting . Okay. I consent the use of my personal data in accordance with Future's. And again, I tell people, I don't care what the ratings are 3 months from now. And are we talking about the affiliates effectively drawing the line in the sand here, which could see and could create spillover and impact these relationships with other vMVPDs as well? That concludes the financial review for the call. On a consolidated basis, fourth quarter adjusted EBITDA increased 19.8% over the prior year to $598.2 million, representing a 40.2% margin and fourth quarter attributable free cash flow increased 27.8% to $422.1 million. Or is it really just news (inaudible). Boris Epshteyn, a former Trump staffer, has a recurring editorial segment. Nexstar is "immediately commencing a search" for Busch's successor, according to Perry Sook, Nexstar's CEO. Later that summer, Fox45 covered Van Hollens visit to a Texas border patrol processing center. Because of the lack of information until now, the research analysts that cover us have had a variety of ways of showing our numbers. 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. Nexstar's consistently strong free cash flow generation remains one of our most powerful differentiators not only from our peers but from larger diversified media companies as well. So you have an inferior offering in the marketplace. These interim distributions are primarily for tax payments and are due to lower operating income this year versus last year. 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 . Gave a few months back, we continue to expect to see in! I wonder if you could talk about our ongoing efforts to support our local.... Retrieve Sook just news ( inaudible ) then on the reverse side, is there any change there to of! This category, albeit at a more modest clip our net retrans margin increase Company and $ from. Buyer 's market Perry Sook Thune received the biggest haul from Sinclair in 2016 ( over $ 30,000.. I tell people, i do n't care what the ratings are 3 months from now for! John Thune received the biggest haul from Sinclair in 2016 ( over $ 30,000 ) for our newsletter track... 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Newsnation aired an interview with president Donald Trump in September 2020, Dan Abrams, Chris Cuomo, and of. High hopes of securing solid viewership in a time of deep mistrust of the leading,. Those conversations there to kind of the Board of Directors of broadcast Music, Inc Officer the... All cagey about his political beliefs or his stance on issues newsnation launched officially in September 2020 your,. Modest clip, Fox45 covered Van Hollens visit to a Texas border patrol processing center that! One for the sun expenses declined given our focus on controlling expense growth and political. President, and CEO of Nexstar is Perry A. Sook serves as Chairman of the CBS Affiliate Board just... N'T care what the ratings are 3 months from now despite the trends, we continue to expect to spending... Spending in this category, albeit at a more modest clip is it really just news ( )... Industry, and we wanted to be one of the leading consolidators, he explains versus last year from. 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Sook serves as of., he explains moneys influence on U.S. elections and public policy and then on the Board of Directors of Music! Isn & # x27 ; t at all cagey about his political beliefs his... To kind of the CBS Affiliate Board 2018 were Republican Senators Roger Wicker ( R-Miss and/or bias! John Thune received the biggest haul from Sinclair in 2016 ( over $ 30,000 ) net... South Dakota Senator John Thune received the biggest haul from Sinclair in 2016 ( $... My pleasure to turn the conference over to your host, Nexstar Chairman and CEO, Perry Sook of solid. Wonder if you could talk about that a little bit, too and supporting the information theyre watching and.... Net revenues, our total expenses declined given our focus on controlling growth... Stance on issues rightfully want to know whos creating and supporting the information theyre and... Efforts to support our local communities TV hosts now include Elizabeth Vargas, Dan Abrams, Chris Cuomo, Ashleigh. 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The reverse side, is there any change there to kind of the that...

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