Excluding the CW, fourth quarter direct operating and SG&A expenses increased only $5.9 million as a result of higher variable costs related to higher revenues, increased programming and other costs related in part to the move of NewsNation from syndicated programming to news programming, which is offset in our adjusted EBITDA calculation from reduced programming payments related to syndicated content. Thats job one.. Are your MVPDs kind of happy to pay you a higher affiliate fee for the CW now that you're pairing it with broadcast stations or any other kind of context you could put around that statement and whether or not that's been an incremental surprise or that was always part of the thinking when you bought the CW? Lazarus is a former chief of staff to the chairman of the FCC. So maybe as expected, Tom, hoping we could just unpack some of the things you went through on retrans a little bit. A recent graduate of the University of Oklahoma Weitzenhoffer School of Musical Theatre, Perry now lives in New York City, but loves performing . Some of his other commitments include working on the board of directors for the following non-profits: the Broadcasters Foundation of America, the Television Bureau of Advertising, and as the television chairman for the National Association of Broadcasters, according to his Nexstar bio. If you don't have the local stations, I think that should tell you everything you need to know about the leverage in the discussions. But we have a receptive audience, certainly among NBA owners and NHL owners that see the value of broadcast TV and exposing and distributing their product to a much larger audience spend is available in the pay-TV universe. 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. 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. Moreover, it should be noted that the digital political spending is primarily used for fundraising versus messaging as local television is the preferred medium for the choice of branding. All right. Lewis infamously used the platform to vent his frustrations with modern gender politics. As you know, there are a lot of moving pieces in these discussions with the networks, especially at CBS, where there is a linear agreement, vMVPD agreement and a Paramount Plus agreement, all of which are up later this year. And so we are very pleased with our ability to continue to earn more for the CW. He focuses on revenue-generating activities, including advertising and distribution, as well as executive intrigue and merger and acquisition activity. So our job now is to continue to increase the profile, relevance and interest in the programming, offer more varied programming and sports is obviously a big piece of that, that can put us more on par with the other network choices that are out there. Perry A. Sook, the Founder, Chairman, President and CEO of Nexstar Broadcasting Group, Inc. (NXST) Interviews with the Wall Street Transcript HOME MAIL NEWS FINANCE SPORTS ENTERTAINMENT LIFE. Right now, I think you can say that the Fubo dispute is a dispute over money as well as governance issues. Yes, I'm talking about like if I was a Fubo subscriber in Portland where you have the coin station, can I see the Seahawks on Sunday on CBS or not? That led to a classic fight of the local station David versus a Fortune 500 cable Goliath. Last year, it. Well, I think we gave that. And at that point, obviously, we're getting higher cost per thousands in news programming than we did in off-network programming. The weakness we see is in national where national advertisers that obviously aren't as close to the end user and customer have paused or reduced spending due to a potential weakness in consumers going forward. Certainly, when you look at the power of The Hill, which is a national brand in concert with NewsNation, which is a national brand; and the strength of our local stations, which is the backbone of everything we do, I think you'll see all of that come together in a unified sales effort to highlight the opportunity available to us in 2024 and beyond. I think our company as well as others in the industry have made the value judgment to do that. And we've seen a lot of our competitors in the media industry with broadcast assets take notice suddenly remembering the lion's share of their revenue and profit come from that tried and true effective and profitable broadcast media. Perry Sook is a performer and reporter who simply loves what he does. I just -- yes, please. He says Texas is prospering because of this, and now says its time to complete the jobs underway.. Distribution fee revenue of $615.6 million, flat. Excluding onetime expenses included in this item, corporate expenses were effectively flat. Got you. 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. "We're now up to 16%, but that means 84% of the country has no earthly idea. (Compare that to Obamas 2012 re-election campaign when they gave him just $1,475.) So, there were challenges. The grade was part of a segment called Truth Test in which political ads are rated on their factual accuracy. LIV Golf was viewed by over 1.4 million total viewers across both the CW linear network as well as our digital platform, the CW app, compared to the average linear golf game on television year-to-date. 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. For the '23, '24 cycle, we expect to generate pro forma average annual attributable free cash flow of approximately $1.25 billion, inclusive of our approximate $90 million attributable to the investment losses associated and tax benefits related to our turnaround of the CW. As you'll be able to read in our report, throughout 2022, we executed on several ESG initiatives, including eliminating our Class B and Class C shares, which cleared the way for our inclusion in the S&P 400 Index. But in terms of the things I'm talking about, in 2024, there could be a very modest amount. In 2008, Tribune gave $11,450 to then-Senator Barack Obama. Originally launched as a three-hour news block on the cable channel WGN America, Nexstar has rebranded the channel as NewsNation and plans to replace more of its off-net reruns with news, including a morning show launching in September. Perry Sook, chairman, president and CEO of Nexstar Broadcasting Group, is not worried about political ad revenue given the ascendancy of Donald Trump in the GOP race, despite his reliance more on earned media than paid media. It starts back in 1996 when he bought WYOU, a little pissant TV station in Scranton, Pennsylvania. * To subscribe, you must consent to Futures privacy policy. One segment, run by Nexstar-owned WATE in Knoxville, Tennessee, focused on an anti-Phil Bredesen ad that was censored by Facebook. Looking ahead, 2023 will benefit from the renegotiation of our distribution contracts, representing more than half of our subscribers during 2022 and 2024 will benefit from the presidential election year, political advertising cycle as well as additional distribution contract renewals at the end of this year. and House Majority Leader Kevin McCarthy (R-Calif.) in 2018. South Dakota Senator John Thune received the biggest haul from Sinclair in 2016 (over $30,000). 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. And what kind of incremental opportunities or channels do you see heading into next year? Excluding the impact of the CW, core advertising was down approximately 8.7%, primarily driven by double-digit rates of decline in national spot advertising, which accounts for approximately 30% of our core television ad revenues and political inventory displacement. And I think that other team owners have taken notice of that. And they say, the locals. At the time, Nexstar CEO Perry Sook assured employees in a town hall meeting that the network would be "centrist." Some staffers griped to the New York Times that a NewsNation anchor gave. Want first access to OpenSecrets' investigations and data features? For additional details on these risks and uncertainties, please see Nexstar's annual report on Form 10-K for the year ended December 31, 2021, as filed with the Securities and Exchange Commission and Nexstar subsequent public filings with the SEC. Our programming continues to be recognized by watchdog group for its independence, and we believe this is the type of content that journalists want to report and audiences want to watch. No matter how talented an athlete is, seeking advice from those who have gone before you is part of the journey to success. And then a big picture question. Perry, maybe just to follow up on that a little bit. Executive Vice President Elizabeth Ryder gave $2,500 in 2014 and 2016, then beefed up her contribution to $5,000 in 2018. So, yeah, its a point of frustration for me, because the performance has been there.. 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. Because of the lack of information until now, the research analysts that cover us have had a variety of ways of showing our numbers. It all got Sook to thinking. kenton county section 8 application; 2 bedroom houses for sale in leigh on sea A member of TVB's board of directors since 2000, Sook assumes the chairman's position previously held by Michael J . Operator, please open the line for questions. (Podcast). Our promotional campaign will kick off in earnest in the month of April. There was a time when Nexstar CEO Perry Sook said that his company was all about being local and that was the most important thing. Hubbards CEO, Stanley Hubbard, is on the advisory board for a pro-Trump Super PAC. Just about any story is fair game, if a dollar sign can make its way into the article. Fourth quarter operating cash taxes were $53.1 million, which includes $65.3 million attributable to Nexstar, excluding CW and a $12.2 million benefit from the attributable tax deductible losses from our investment in the CW. Sook reaffirmed Nexstar's commitment to the transformation of the former WGN America into a news channel. Sook spends a great deal of time sorting through financial matters in New York and meeting with regulators in Washington, D.C. The resulting company will own over 200 television stations, giving it incredible access to American homes across the country through their local news programming. Please go ahead, sir. According to the Washington Post, Sinclair stations ran fifteen exclusive interviews with Trump and did none with Hillary Clinton. The current simulcast requirement does constrain our capacity as to what we can do. It was a kind of a sinking feeling in the pit of your stomach, but it also energized me to go out and find a real job. That meant television sales, which led to the purchase of WYOU in Scranton, taking us back to the beginning of Sooks story. It was to a mobile home dealer, says Sook, still a bit proud. 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