If the money was right, Nexstar's boss says he'd consider selling
While Nexstar Broadcasting isn't presently for sale, if someone crossed his desk with what he considers a fair price, the company's chairman, president and CEO, Perry Sook, says he'd consider it.
At the SNL TV and Radio Finance Summit in New York on Thursday, Sook told a panel that Nexstar isn't actively seeking a buyer, but if some third party offered enough of a premium above the company's share price (which, as of 10:25 a.m., was $29.09 a share), "that would be a very interesting conversation to have in the board room."
Should Nexstar's management, which has long advocated for enhancing the company's value to the shareholders, decide that their best method of doing that "is to hand the keys to somebody else," Sook added, then that is "what the management team should advocate the shareholders do."
It seems more likely, however, that Nexstar will continue to be a buyer, at least for the short term; the company is in the process of buying the Communications Corp. of America stations (including CBS44/FOX44 WEVV, which Nexstar will run for that station's eventual owner, Rocky Creek Communications), and there are other groups up for sale (particularly Allbritton and Local TV) for Nexstar to look at as well.
Nexstar currently owns and/or operates the following stations in our region:
- WEHT Local (ABC, Evansville)
- Local 7 WTVW (CW, Evansville), operated for Mission Broadcasting
- NBC2 WTWO (NBC, Terre Haute)
- WAWV-ABC (ABC, Terre Haute), operated for Mission Broadcasting