Nexstar has signed a multi-year contract extension with CEO Perry Sook, keeping the executive in charge of the Texas-based local TV giant through March of 2026.
The company disclosed the new contract on Monday morning. Terms of the contract were not immediately disclosed.
Sook has been CEO of Nexstar, which owns or operates some 200 local TV stations across the country, since 1996. He is also chairman of the company, and owns a 4 percent stake.
His contract extension comes as Nexstar seeks to transform its business amid something of an M&A boom. The company acquired the former Tribune TV stations a few years ago, and has transformed the former WGN America into a cable news channel called NewsNation (it added former CNN anchor Chris Cuomo just last week). A year ago it also acquired the digital news outlet The Hill, and is in advanced talks to acquire The CW from Warner Bros. Discovery and Paramount Global. Nexstar also owns a minority stake in the Food Network, which WBD owns.
“Given his long-term record of accomplishments, we are delighted to extend Perry’s employment agreement,” said Nexstar board member Dennis Miller in a statement. “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.”