Nexstar has signed a multiyear 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.
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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.”