Nexstar Media Group

Nexstar Media Group is a major American television broadcasting and media company headquartered in Irving, Texas, with additional operating offices in New York City and Chicago. It began in 1996 as Nexstar Broadcasting Group, founded by Perry A. Sook with financial backing from ABRY Partners. Its first station was WYOU in Scranton, Pennsylvania, and the company initially pursued a strategy of acquiring local television stations in mid-sized American markets, improving their news operations, and generating scale through shared services, advertising, and retransmission-consent revenue. The company grew through a long sequence of station acquisitions. Early transactions included WBRE-TV in Wilkes-Barre, WJET-TV in Erie, and stations purchased from U.S. Broadcast Group and Quorum Broadcasting. Nexstar also developed operating arrangements with separately owned stations, particularly Mission Broadcasting, allowing it to provide programming, news production, technical, and administrative services while complying with Federal Communications Commission ownership limits. These arrangements became a distinctive feature of the company's expansion model, although shared-services and joint-sales structures have periodically attracted regulatory and public scrutiny. Nexstar became a publicly traded company in 2003. Its acquisitions expanded its reach across affiliates of ABC, CBS, NBC, Fox, The CW, and MyNetworkTV. A 2011 dispute with Fox over retransmission-consent revenue and reverse compensation resulted in several affiliation changes, illustrating the increasing importance of network affiliation economics to local broadcasters. Nexstar subsequently continued to buy station groups and digital advertising businesses, including assets associated with Newport Television, Communications Corporation of America, Citadel Communications, Grant Broadcasting, West Virginia Media Holdings, and other owners. A decisive transformation came with the acquisition of Media General, announced in 2016 and completed in 2017. The transaction substantially increased Nexstar's station count and national household reach, while requiring divestitures in overlapping markets. Nexstar then acquired Tribune Media in 2019 in a transaction valued at approximately $6.4 billion including assumed debt. The Tribune deal added large-market stations such as WGN-TV in Chicago and WPIX in New York, as well as national and digital media assets. Further station transactions with Fox Television Stations and other parties reshaped the portfolio and helped reduce regulatory overlaps and debt. Nexstar's business is broader than local broadcast television. It owns and operates NewsNation, a national cable news network formerly known as WGN America; The CW television network, acquired jointly with a partner in 2022 and subsequently controlled by Nexstar; The CW Plus distribution service; Antenna TV and Rewind TV, which distribute classic television programming; SportsGrid, a sports-focused streaming and television service; and digital advertising, publishing, and audience-targeting businesses. It also owns radio stations including WGN in Chicago and WBNS and WBNS-FM in Columbus. The company's commercial model combines local advertising, national advertising, retransmission-consent payments from pay-TV distributors, network and digital advertising, content licensing, and distribution revenue. Nexstar describes its local stations as community-oriented outlets with news, weather, sports, and public-affairs programming, while its national networks provide additional scale. Critics and media analysts have characterized Nexstar as politically conservative in parts of its editorial and programming profile, though comparisons commonly distinguish it from the more overtly conservative Sinclair Broadcast Group. Today, Nexstar is one of the largest television station owners in the United States. Its portfolio and operating relationships have made it an important intermediary between nati…

Nexstar Media Group was established on June 17, 1996, as Nexstar Broadcasting Group. Backed initially by ABRY Partners and led by Perry A. Sook, the company entered the market by acquiring WYOU in Scranton, Pennsylvania. It soon acquired WBRE-TV in the neighboring Wilkes-Barre market. Because owning both stations directly would have raised regulatory issues, WYOU was transferred to Mission Broadcasting while Nexstar continued to provide operational services. This arrangement became an early example of the shared-services model that later supported Nexstar's growth. During the late 1990s and early 2000s, Nexstar assembled a portfolio of local stations in small and medium-sized markets. It acquired WJET-TV, stations from U.S. Broadcast Group, WROC-TV, and the ten-station Quorum Broadcasting group. The company went public in 2003 and continued purchasing stations from owners seeking to exit local television. Its operating model emphasized centralized purchasing, technology, sales support, and news production while retaining local station identities and network affiliations. The economics of broadcast affiliation became more contentious as networks sought a larger share of retransmission-consent revenue. In 2011, Fox and Nexstar disputed the terms of affiliation renewals. Fox moved affiliations in several markets, while Nexstar moved WFXW in Terre Haute to ABC and later regained the Fox affiliation at WFFT-TV in Fort Wayne after litigation and subsequent ownership changes. The episode showed how network relationships, distributor fees, and local station ownership had become closely connected. Nexstar accelerated its expansion from 2012 through 2018. It acquired or operated stations associated with Newport Television, Communications Corporation of America, Citadel Communications, Grant Broadcasting, West Virginia Media Holdings, and other groups. It also bought digital advertising and technology companies, including Internet Broadcasting and Yashi, and consolidated several digital businesses under the Lakana name. Regulatory limits required some stations to be sold, spun off, or placed under arrangements involving other licensees. The acquisition of Media General was the company's first transformative national-scale transaction. After an unsolicited proposal in 2015, the companies reached a definitive agreement in January 2016. The transaction closed in January 2017 after regulatory review and divestitures. It increased Nexstar's reach to a much larger proportion of United States television households and added stations in numerous major and regional markets. The combined company retained the Nexstar Media Group name. In 2019, Nexstar completed its acquisition of Tribune Media. The deal brought a major group of local stations, including WGN-TV in Chicago and WPIX in New York, as well as WGN America, WGN Radio, and other assets. To address ownership limits and market overlaps, Nexstar sold stations to other broadcasters, including Fox Television Stations. The transaction made Nexstar the largest local television station owner in the United States by station count and substantially increased its influence over national retransmission and advertising negotiations. Following the Tribune acquisition, Nexstar expanded its national strategy. WGN America was repositioned as NewsNation, a general-news cable network intended to complement local journalism. Nexstar also owned or distributed classic-programming networks Antenna TV and Rewind TV and operated digital and streaming properties. In 2022, the company acquired a controlling interest in The CW, shifting the network toward a lower-cost programming model that used acquired and syndicated content as well as original programming. The company also maintained radio assets and sports-oriented services such as SportsGrid. Nexstar's history reflects the consolidation of American local broadcasting. Its growth has relied on acquisitions, operating agreements, network affiliation management, retransmission economics, and the creation of centralized infrastructure for local news and advertising. At the same time, its size has brought recurring questions about market concentration, newsroom resources, shared-services arrangements, editorial uniformity, and the regulatory framework governing broadcast ownership. The company remains active, but its long-term development depends on balancing local station operations with national networks, digital distribution, streaming competition, and changing advertising behavior.

1. 2022Nexstar takes control of The CW

   Nexstar acquires a controlling interest in The CW and assumes operational responsibility for the network.

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2. 2021WGN America becomes NewsNation

   Nexstar relaunches the cable network under the NewsNation name and increases its national news programming.

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3. 2019Tribune Media acquisition closes

   The transaction adds Tribune's local stations and national media assets, including WGN-TV and WGN America.

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4. 2017Media General acquisition closes

   Nexstar completes its acquisition of Media General after divesting stations in overlapping markets.

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5. 2011Fox affiliation dispute

   A dispute over retransmission-consent revenue and reverse compensation leads to multiple affiliation changes involving Nexstar-operated stations.

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6. 2003Nexstar becomes publicly traded

   Nexstar completes its initial public offering and continues expanding its station portfolio.

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7. 1998Shared-services model begins with WYOU and WBRE-TV

   After acquiring WBRE-TV in the same market, Nexstar places WYOU under Mission Broadcasting while continuing to operate news and production functions.

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8. 1996Nexstar Broadcasting Group is founded

   The company is established with Perry A. Sook as its leading executive and purchases WYOU in Scranton, Pennsylvania, as its first station.

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A scale-focused owner and operator of local television stations with complementary national networks, digital media, radio, and advertising businesses.

• Local television stationsBroadcast television1996

  Nexstar's principal operating business is a large portfolio of local broadcast stations across the United States. Stations generally carry programming from ABC, CBS, NBC, Fox, The CW, or MyNetworkTV, supplemented by locally produced news, weather, sports, public-affairs, and community programming. Station brands remain market-specific, while centralized corporate systems support sales, technology, digital publishing, and some production functions.

• NewsNationCable news network2021

  NewsNation is Nexstar's national news network, developed from the former WGN America service. It carries national news, interview, opinion, and public-affairs programming and is positioned as a complement to Nexstar's local television news operations.

• The CWBroadcast and streaming television network2006

  The CW is a national television network distributed through broadcast affiliates and digital platforms. Nexstar acquired controlling ownership in 2022 and operates the network, which combines original series with acquired, syndicated, and sports-related programming.

• Antenna TVMulticast television network2011

  Antenna TV is a terrestrial digital network focused on classic television series, films, and archival entertainment programming. It is distributed through local digital subchannels and other television outlets.

• Rewind TVMulticast television network2021

  Rewind TV is a digital broadcast network offering older scripted television programming. It complements Nexstar's other multicast and classic-content services and is carried through local station subchannels.

• SportsGridSports television and streaming

  SportsGrid is a sports-focused television and streaming service centered on real-time sports information, analysis, fantasy sports, and betting-related programming.

• Digital advertising servicesDigital media and advertising technology

  Through acquired and internally developed digital businesses, Nexstar provides online publishing, local-station digital services, audience targeting, video advertising, and programmatic advertising capabilities for its own properties and commercial partners.

• 2019Border Report

  United States · Mexico border region

  Nexstar launched Border Report as a digital news initiative focused on stories and issues affecting the Mexico–United States border. The project used Nexstar's local-news infrastructure to develop a topic-focused national and regional reporting service.

  Outcome. Active digital news initiative at launch; later operating status is not specified in the supplied sources.

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• 2022Acquire controlling interest in The CWM&A

  Nexstar sought to add a national broadcast network and a platform for distributing entertainment, sports, and acquired programming.

  What changed. Nexstar acquired majority control of The CW and assumed responsibility for operating the network.

  Aftermath. The CW became a core national network asset within Nexstar's broader local-station and digital distribution strategy.

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• 2021Launch NewsNationProduct launch

  After acquiring Tribune Media and WGN America, Nexstar sought to create a national news service that could use the company's local journalism infrastructure.

  What changed. Nexstar rebranded WGN America as NewsNation and expanded its national news programming.

  Aftermath. NewsNation became a central national-media component of Nexstar's portfolio alongside its local stations and The CW.

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• 2019Acquire Tribune MediaM&A

  Nexstar pursued Tribune Media to add major-market television stations and national media assets to its rapidly expanding local broadcast group.

  What changed. Nexstar completed the acquisition after regulatory review and sold selected stations and assets to address ownership restrictions and market overlaps.

  Aftermath. Nexstar became the largest U.S. television station owner by station count and gained control of WGN America, later renamed NewsNation.

  Transaction value. Approximately $6.4 billion including assumed debt (Announced 2018; completed September 2019)

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• 2016Acquire Media GeneralM&A

  Nexstar sought to expand its local television footprint and create operating scale. Media General was itself involved in a proposed transaction with Meredith before accepting Nexstar's offer.

  What changed. Nexstar agreed to acquire Media General for approximately $4.6 billion plus assumed debt and completed the transaction in 2017 after required divestitures.

  Aftermath. The combined company became one of the largest U.S. television station groups, with increased national household reach and a larger network-affiliate portfolio.

  Transaction value. Approximately $4.6 billion plus approximately $2.3 billion of assumed debt (Announced January 2016; completed January 2017)

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• 2011Contest Fox's retransmission-compensation termsStrategy

  Fox sought a larger share of retransmission-consent revenue generated by its affiliated local stations. Nexstar and Fox disagreed over the economics and affiliation-renewal terms.

  What changed. Nexstar allowed several Fox affiliations to move, shifted WFXW in Terre Haute to ABC, and continued negotiations and litigation concerning other markets.

  Aftermath. The dispute produced affiliation changes in multiple markets and highlighted the importance of retransmission revenue to station groups.

  • Fox — Fox moved affiliations in several markets and pursued a greater share of retransmission economics.
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• 2022Nexstar acquires majority control of The CW

  Nexstar acquired a controlling interest in The CW television network from its previous owners and took responsibility for operating the network.

  M&A
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• 2021WGN America is relaunched as NewsNation

  Nexstar rebranded WGN America as NewsNation as part of an effort to build a national news service alongside its local broadcast operations.

  Product launch
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• 2019Nexstar completes acquisition of Tribune Media

  The acquisition added Tribune's broadcast stations, WGN America, WGN Radio, and other media assets after regulatory review and required divestitures.

  M&A
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• 2016Nexstar agrees to acquire Media General

  Nexstar agreed to acquire Media General in a transaction valued at approximately $4.6 billion before assumed debt, creating a substantially larger station group.

  M&A
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• 2011Nexstar and Fox engage in retransmission-consent and affiliation dispute

  Negotiations over reverse compensation and retransmission-consent economics caused Fox affiliations to move away from several Nexstar-operated stations, while at least one Nexstar station switched to ABC.

  LawsuitOther
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1. Nexstar Media Group
2. Nexstar Media Group leadership
3. Nexstar completes acquisition of Media General
4. Nexstar completes acquisition of Tribune Media Company
5. Nexstar completes acquisition of majority stake in The CW
6. NewsNation about page
7. Nexstar Media Group SEC filings
8. Nexstar同意收购Media General