[January 18, 2017] |
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Nexstar Media Group Announces Executive and Senior Management Changes and Appointments to Support Expanded Platform and Growth
Nexstar Media Group, Inc. (Nasdaq: NXST) announced today changes and
appointments to its executive and senior management team to support the
Company's expanded platform, increased scale and near- and long-term
growth objectives. The appointments follow yesterday's close of
Nexstar's acquisition of Media General, Inc.
Commenting on the appointments, Perry A. Sook, Chairman, President and
CEO of Nexstar Media Group, stated, "Over the last two decades, our
strategy of appointing proven broadcast and digital media leaders with
long-term records of delivering industry-leading innovation,
distribution and core revenue growth, meticulous M&A integration and
enterprise-wide cost management has been fundamental to our consistent
long-term success. As a result, Nexstar has a deep, capable team of
operations, finance, content, digital, and legal executives to manage
the expanded platform. In addition, our stations are led by experienced,
results-oriented broadcast executives with regional oversight. We are
confident in the ability of these teams to ensure our ongoing success.
"With the executive and senior management appointments announced today,
the new Nexstar Media Group will be well positioned to extend our legacy
of delivering exceptional service to the local communities where we
operate and value to our shareholders. The appointments reflect our
proven integration strategy of marrying best of breed practices from our
existing operations with those from Media General. We are energized and
excited about the opportunities before us and ready to move forward
together as the largest local media company in the United States and
remain committed to localism and exceptional service in our markets in
2017 and beyond."
Nexstar Media Group, Inc. Executive Management Appointments and
Changes
Elizabeth Ryder has been promoted to Executive Vice President and
General Counsel of Nexstar Media Group, Inc. Ms. Ryder most recently
served as Senior Vice President and General Counsel of Nexstar
Broadcasting Group, a position she held since May 2009. During her
tenure, she has served as an integral member of the senior management
team and a valuable resource to Nexstar in the negotiation of carriage
agreements with its distribution partners and managing legal and
regulatory matters related to the Company's television and digital
operations, including its significant M&A activity. Ms. Ryder will
continue to be responsible for Nexstar's legal strategy and all aspects
of daily operations as General Counsel, including correspondence related
to FCC (News - Alert) regulatory compliance, programming and carriage negotiations,
acquisitions and divestitures and other legal matters to ensure
regulatory compliance and mitigate corporate risk.
Prior to joining Nexstar, Ms. Ryder served as Vice President, Legal
Affairs at First Broadcasting Operating, Inc. where she specialized in
corporate legal and transactional matters, due diligence and FCC
regulatory compliance. From 2002 to 2007, she served as both Associate
and Counsel at Drinker Biddle and Reath, LLP, a Washington, D.C.-based
law firm, where she provided advanced legal counsel to clients across
the media and cable industries, including Nexstar. Ms. Ryder began her
legal career in 1997 serving for four years as an Associate at Arter &
Hadden, where she focused on legal matters on behalf of the firm's
broadcast and telecommunications clients.
Brett E. Jenkins has been named Chief Technology Officer ("CTO") of
Nexstar Media Group, Inc., a newly created position at the Company. Mr.
Jenkins most recently served as Vice President and CTO of Media General,
Inc. from 2014 to 2016, following Media General's merger with LIN Media.
He previously served in the same capacity at LIN Media from 2011 to
2014, prior to the merger. In his new role at Nexstar, Mr. Jenkins will
oversee the Company's IT and engineering functions and advise the
executive team on new technologies, trends and best practices for
integration. He will also be responsible for developing new business
models and products across all areas of technology, with the goal of
maximizing the growth and efficiency of Nexstar's broadcast and digital
operations. The appointment is effective immediately, and Mr. Jenkins
will report to Perry Sook, Chairman, President and CEO of Nexstar Media
Group.
Mr. Jenkins earned his Bachelor of Science in Electrical Engineering
(BSEE), cum laude, from University of Massachusetts, Amherst in 1992 and
his Master of Business Administration (MBA) from Boston University in
2005. He currently serves on the Board of the Advanced Television
Systems Committee (ATSC) and is a former member of on the External
Advisory Board for the University of Massachusetts' Department of
Electrical and Computer Engineering.
Nexstar Broadcasting, Inc. Executive Management Appointments and
Changes:
Timothy Busch has been promoted to President of Nexstar Broadcasting
Inc., and brings over 31 years of broadcasting experience to his new
role. Since 2008, Mr. Busch has served as Executive Vice President and
Co-Chief Operating Officer of Nexstar, where he had oversight and
responsibility for the Nexstar owned or operated stations located east
of the Mississippi River. During his tenure, he has served as an
integral member of the executive management team and a valuable resource
to Nexstar in deploying initiatives focused on growing the Company's
advertising supported revenue streams, including political and new to
television advertising, as well as the successful integration of over
[125] acquired television stations. In his new role, Mr. Busch will be
responsible for overseeing all facets of Nexstar's local media
operations and will work with executive and senior management teams to
develop new opportunities for the Company to further leverage its
valuable local programming and content to drive advertising revenue
growth across its local, national, political and cross-platform
verticals. The appointment is effective immediately, and Mr. usch will
continue to report to Perry Sook, Chairman, President and CEO of Nexstar
Media Group.
Earlier in his Nexstar career, from 2002 to 2008 Mr. Busch served as
Senior Vice President and Regional Manager of Nexstar's Eastern Region
consisting of 15 television stations in 10 markets. Prior to that, he
served as the Vice President and General Manager of WROC-TV (CBS) in
Rochester, New York. Before joining Nexstar, Mr. Busch was General Sales
Manager of the Gannett-owned NBC affiliate in Buffalo, New York for
seven years. He also held advertising sales management positions in
television and radio since 1985. Mr. Busch has served on various Boards
in the Rochester and Buffalo areas as well as the New York State
Broadcasting Association, New York Federal Reserve Advisory Board and as
the former Chairman of the CBS Affiliate Board.
Brian Jones has been named to Executive Vice President and Chief
Operating Officer of Nexstar Broadcasting Inc., and brings over 36 years
of television broadcasting experience to his role. Since 2008, Mr. Jones
has served as Executive Vice President and Co-Chief Operating Officer of
Nexstar, where he had oversight and responsibility for the Nexstar owned
or operated stations located west of the Mississippi River. Mr. Jones
has served as an important member of the executive management team and a
valuable resource to Nexstar in developing and implementing
cross-platform growth strategies, during the rapid expansion of the
Company's broadcast operations. As Chief Operating Officer, Mr. Jones
will continue to work with the executive and regional management teams
to drive market and revenue share growth while building upon the
Company's excellent record of local programming, community involvement,
client service and viewer engagement. Mr. Jones will report to Timothy
Busch, President of Nexstar Broadcasting Inc.
Earlier in his Nexstar career, from 2003 to 2008 Mr. Jones served as
Senior Vice President and Regional Manager of the Company's Southwest
Region consisting of 20 television stations in 11 markets. Prior to
joining Nexstar, he served as Vice President and General Manager of CBS
owned and operated KTVT and KTXA-TV in Dallas/Fort Worth, TX for seven
years. Prior to that, he held various executive management and sales
positions with KTVT, MMT Sales Inc. and KXAS-TV (NBC) for seven years.
Mr. Jones served as the Chairman of the FOX Affiliates Association Board
of Governors and also served as Chairman of the Texas Association of
Broadcasters Board of Directors. He is a member of the FOX Affiliates
Association Board of Governors and the National Association of
Broadcasters Small Market Advisory Committee as well as the Southern
Methodist University School of Journalism Advisory Committee. Jones also
served as a board member of the CBS Affiliates Association.
Nexstar Broadcasting, Inc. Senior Management Appointments:
Nexstar has promoted Diane Kniowski, Doug Davis and Mike Vaughn to serve
in three newly-created regional management positions. The appointments
reflect Nexstar's strategy to retain proven broadcast and digital media
leaders to oversee assets on a regional basis while enhancing its
commitment to serve viewers and advertisers across its on-air and
digital media platforms.
In their new respective roles, Ms. Kniowski, Mr. Davis and Mr. Vaughn
will work across the Nexstar organization and with other corporate
personnel to administer policies and procedures to improve operating
efficiencies and the effectiveness and service of the Company's
operations. Additionally, they will be responsible for executing and
monitoring action plans aimed at achieving corporate and regional
business objectives and financial goals. The appointments are effective
immediately and Ms. Kniowski, Mr. Davis and Mr. Vaughn will report to
Timothy Busch, President of Nexstar Broadcasting, Inc.
Diane Kniowski has been appointed Senior Vice President and Regional
Manager of Nexstar Broadcasting, Inc. and will have oversight of station
operations in Michigan, Illinois, Iowa, Wisconsin, Montana, North Dakota
and South Dakota. Ms. Kniowski brings over 40 years of experience across
all facets of the broadcasting and advertising industry to her new role,
including serving as a Media Buyer, Media Planner, National Sales
Manager, General Sales Manager and General/Regional Manager. Prior to
Nexstar's acquisition of Media General, Diane served as Vice President
and General Manager of WOOD-TV (NBC), WOTV (ABC) and WXSP (MyNetwork) in
Grand Rapids, Michigan (DMA #44) for seventeen years. In addition to her
station management role, she acted as a Regional Manager overseeing
station operations in Michigan and Indiana. Her career highlights
include putting a cable-based Sports Channel on the air in West
Michigan, bringing free Detroit sports to the western side of the state.
Ms. Kniowski currently serves on the ABC Board of Directors and serves
as the ABC Board liaison for the ABC Marketing Association. She is the
past chair of the Michigan Association of Broadcasters and has served on
the Michigan Association of Broadcasters Foundation Board, American
Women in Radio and Television, Grand Rapids Economic Club, Grand Rapids
Area Chamber of Commerce and Children's Miracle Network Board at Helen
Davos Children's Hospital. She was recognized in 2009 as a top 50 Woman
of Achievement in Western Michigan.
Doug Davis has been appointed Senior Vice President and Regional Manager
of Nexstar Broadcasting, Inc. and will have oversight of station
operations in Virginia, North Carolina, West Virginia, Ohio,
Massachusetts, Connecticut and Rhode Island. Mr. Davis brings 33 years
of broadcasting and sales management experience to his new role at
Nexstar. Prior to the Company's acquisition of Media General, Mr. Davis
served as President and General Manager of WAVY/WVBT, the NBC/FOX
duopoly in Norfolk, Virginia (DMA #42) for eleven years. Prior to that,
he served as Station Manager of WVBT from 2000 to 2005 and as a Local
Sales Manager of WAVY from 1995 to 2000. Earlier in his career, he held
Account Executive positions with Cox (News - Alert) Cable and WVEC-TV (ABC) in Norfolk
from 1989 to 1995. A graduate of Duke University, Mr. Davis began his
career in 1984 at the National Video Center in New York. He is a past
President of The Virginia Association of Broadcasters and former board
member of the FOX Affiliate Board of Governors. He is a long-serving
member of the Development Advisory Board of Children's Hospital of the
King's Daughters and remains active in many community organizations
throughout southeastern Virginia.
Mike Vaughn has been appointed Senior Vice President and Regional
Manager of Nexstar Broadcasting, Inc. and will have oversight of station
operations in Arkansas, Louisiana, Missouri and Tennessee. Mr. Vaughn
brings over 23 years in broadcasting and sales management experience to
his new role, including a deep understanding of Nexstar and its critical
functions including station management, news and local programming,
digital and social media integration and strategic planning. Prior to
his appointment, from 2011 to 2016 he served as Vice President and
General Manager of KARK-TV (NBC) in Little Rock, Arkansas (DMA #57). Mr.
Vaughn was also responsible for managing Nexstar's relationship with
Mission Broadcasting's KLRT-TV (FOX) and KASN-TV (CW) in Little Rock
under a joint operating agreement. Prior to that, he was Vice President
and General Manager of KNWA-TV and KFTA-TV, the NBC/FOX duopoly serving
Fayetteville and Fort Smith, Arkansas (DMA #99) from 2008 to 2011. From
2005 to 2008, Mike served as Director of Sales overseeing both sales
departments in Fayetteville and Little Rock, Arkansas. Mike started his
career with Nexstar in sales and spent seven years as an Account
Executive and Local Sales Manager for KOZL-TV (formerly KSFX-TV) in
Springfield, Missouri (DMA #75). Mr. Vaughn has been very active in
local community involvement, including business groups and volunteering
with youth sports organizations.
About Nexstar Media Group, Inc.
Nexstar Media Group is a leading diversified media company that
leverages localism to bring new services and value to consumers and
advertisers through its traditional media, digital and mobile media
platforms. Nexstar owns, operates, programs or provides sales and other
services to 171 television stations and related digital multicast
signals reaching 100 markets or approximately 39% of all U.S. television
households. Nexstar's portfolio includes primary affiliates of NBC, CBS,
ABC, FOX, MyNetworkTV and The CW. Nexstar's community portal websites
offer additional hyper-local content and verticals for consumers and
advertisers, allowing audiences to choose where, when and how they
access content while creating new revenue opportunities. For more
information please visit www.nexstar.tv.
Forward-Looking Statements
This communication includes forward-looking statements. We have based
these forward-looking statements on our current expectations and
projections about future events. Forward-looking statements include
information preceded by, followed by, or that includes the words
"guidance," "believes," "expects," "anticipates," "could," or similar
expressions. For these statements, Nexstar and Media General claim the
protection of the safe harbor for forward-looking statements contained
in the Private Securities Litigation Reform Act of 1995. The
forward-looking statements contained in this communication, concerning,
among other things, the ultimate outcome and benefits of a transaction
between Nexstar and Media General and timing thereof, and future
financial performance, including changes in net revenue, cash flow and
operating expenses, involve risks and uncertainties, and are subject to
change based on various important factors, including the timing to
consummate the proposed transaction; the risk that a condition to
closing of the proposed transaction may not be satisfied and the
transaction may not close; the risk that a regulatory approval that may
be required for the proposed transaction is delayed, is not obtained or
is obtained subject to conditions that are not anticipated, the impact
of changes in national and regional economies, the ability to service
and refinance our outstanding debt, successful integration of Media
General (including achievement of synergies and cost reductions),
pricing fluctuations in local and national advertising, future
regulatory actions and conditions in the television stations' operating
areas, competition from others in the broadcast television markets,
volatility in programming costs, the effects of governmental regulation
of broadcasting, industry consolidation, technological developments and
major world news events. Nexstar and Media General undertake no
obligation to update or revise any forward-looking statements, whether
as a result of new information, future events or otherwise. In light of
these risks, uncertainties and assumptions, the forward-looking events
discussed in this communication might not occur. You should not place
undue reliance on these forward-looking statements, which speak only as
of the date of this release. For more details on factors that could
affect these expectations, please see the definitive joint proxy
statement/prospectus of Nexstar and Media General and Media General's
and Nexstar's other filings with the SEC (News - Alert).
View source version on businesswire.com: http://www.businesswire.com/news/home/20170118005294/en/
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