Why Are Nexstar Shares Stumbling?



Perry Sook is widely regarded as the leader of the broadcast TV industry. As executive chairman and President/CEO of Nexstar Media Group, Sook has built a company that started with a single Scranton, Pa., station and is today a giant that now includes the former Media General.

He’s also the recently appointed Chairman of the Television Advertising Bureau (TVB).

Through the end of April, Nexstar seemed poised to take the yoke of the jumbo jet that is the TV industry, ready and willing to start a 39-month repack process as it awaits the benefits of ATSC 3.0, the next-gen broadcast TV standard.

Then, the first post-Spectrum Auction mega-merger was announced. Tribune Media was selling to Sinclair Broadcast Group.

With the deal, did Sinclair President/CEO Chris Ripley take over as flight commander for the TV industry’s flight to future fortunes in mid-air? 

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