Good day, and welcome to Nexstar Media Group Fourth Quarter and Full Year 2022 Conference Call. . And as in the past, we will provide the results of that process in our annual proxy statement. Listen Bloomberg. And so it's selling very well and I think we'll continue to grow as we get more into the season and more involved. Another WATE story featured anti-Blackburn protestors demonstrating during a moment of silence for the Pittsburgh Synagogue shooting victims at a campaign event. CEE MARKETS-FX strengthens as market sees rates staying high, China says EU TikTok ban will harm business confidence, Consumers keep feeling better about today and worse about tomorrow: Morning Brief, All Adani Stocks End Higher First Time Since Hindenburg Report, Chinese video streaming platform iQIYI to raise $600 million through convertible bonds. And I think you'll see, again, in 2023, some test cases and use cases that will be developed that again is -- we'll be seeing this forward progress in the development of ancillary revenues from NextGen TV spectrum. Pelosi even gave the station an exclusive interview. Since Americans have a significantly greater level of trust in their local news stations than they do in national news outlets or in web-only publications, this level of political activity from media companies is especially significant. Our next question comes from Dan Kurnos with The Benchmark Company. Chairman and CEO Perry Sook revealed that previously discussed series based on the political news outlet, acquired by Nexstar in 2021 for $130 million., will premiere in April and run Monday-Friday. Approximately 40% of our subscribers are up for renewal by 2023 year-end, which will benefit 2024, including several virtual MVPDs. That's what's driving the buildout. Watch Vonn and Sinner as they explore the dedication and work required to become the best. People may receive compensation for some links to products and services on this website. 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. Well, no, I think I mentioned it in my comments that the growth in network affiliation is much more modest than our growth in retrans revenue. Nexstar is looking to raise the profile of NewsNation, its little-watched cable news channel. He collects firearms, and in response to questions that are not at all explicitly about. Mr. Sook was previously a member of the Board of Directors of the Television Bureau of Advertising (TVB), where he also served as Chairman. So I was wondering if you could just help us kind of bridge the gap there. KTSM, an El Paso, Texas station owned by Nexstar, re-ran an article from the Texas Tribune exploring the effect of Hispanic identity on the Senatorial race that pitted Beto ORourke against Cruz. I consent the use of my personal data in accordance with Future's. For cash taxes, we use a 26.5% tax rate when calculating our estimated tax benefit before onetime and other adjustments. 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Unfortunately, some members of the media use their platforms to push their own personal bias and agenda to control exactly what people think said the script. In January, the network averaged 65,000 viewers from 8 p.m. to 11 p.m. according to Nielsen and just 15,000 viewers in the 25-54 demographic used to sell ads in news programming. I had one for a cloud, one for the sun. The experience didnt endear him to journalism. NewsNation launched officially in September 2020 with high hopes of securing solid viewership in a time of deep mistrust of the media. Direct response continues to be impacted by weaker national advertising marketing trends and medical health care was impacted by reduced Affordable Care Act marketing funds versus the prior year. I guess if they felt they wanted to vote with their feet, they wouldnt own the shares. The Chief Technology Officer, Brett Jenkins, gave $5,000 to the PAC, but only in 2018. Tom Hanks Started a Veteran-Focused Coffee Brand Where to Buy It, Drug Prices Are Increasing in 2023, Won't Impact Most Consumers. Next steps for us, obviously, Elizabeth Vargas joins the network in April. But I think to a certain extent, people want to see how the RSN plays out and what that means to them and then, therefore, how that influences their behavior going forward. Analysis / Bias Nexstar Media Group subsidiary Nexstar Media Inc. has acquired political news outlet The Hill in a $130 million deal, the company announced Friday. Perry Sook says that in addition to a strong trending political segment, "approximately half of our television advertising categories are pacing up for the third quarter." . Six people at the time reportedly said that NewsNation was becoming increasingly right-wing and conservative in its presentation. The network's current lineup of TV hosts now include Elizabeth Vargas, Dan Abrams, Chris Cuomo, and Ashleigh Banfield. And then if you get some of the current blackout renewals done, then accelerates into that new guidance. And people are enthusiastic about engaging in those conversations. So you'll see our net retrans margin increase. Suite 2100 Perry Sook Political Campaign Contributions 2020 Election Cycle. In the latest of my series of Legends & Leaders interviews with media industry leaders, Nexstar CEO Perry Sook shares context on the decision to convert WGN America to NewsNation, including details on how 198 Nexstar TV stations and 5,500 journalists feed, support and promote the fledgling news network. Before Superior, Mr. Sook was President/CEO of Seaway Communication, Inc., owner of network affiliated stations in Bangor, ME and Wausau, WI. Commodity futures news: Nexstar Media Group Reports Record Fourth Quarter Net Revenue of $1.49 Billion and Fiscal Year 2022 Net Revenue of $5.21 Billion, updated 2023-02-28 07:00:00. Your comments about (inaudible) drawing attention to the CW. The company is now the nations biggest player in local television. It was to a mobile home dealer, says Sook, still a bit proud. Ray Cole, Charles Ryan, Ernest Liebre, Phillip Lombardo 4. Sources tell FTVLive that CBS will decline running the Saudi-backed LIV Golf Tour on the CW stations that CBS owns. Distribution fee revenue of $615.6 million, flat. NATIONAL ASSOCIATION OF BROADCASTERS POLITICAL ACTION COMMITTEE (NABPAC) - Unknown: SOOK, PERRY MR. IRVING, TX 75062: Nexstar Broadcasting Group, Inc./Chairman, President & Ceo: $5,000: 04/08/2015: P: NATIONAL ASSOCIATION OF BROADCASTERS POLITICAL ACTION COMMITTEE (NABPAC) - Unknown: SOOK, PERRY FLOWER MOUND, TX 75022: Nexstar Broadcasting . And they see the customer at the checkout counter or at the cash register, and they know that local consumers are spending and have factored in 7% mortgages and $3 and $4 gasoline into their daily lives. A member of TVB's board of directors since 2000, Sook assumes the chairman's position previously held by Michael J . The company was founded in 1996 when Perry A. Sook purchased WYOU, a station in Scranton, Pa. As such, we are opting to exclude transaction and onetime expenses from these figures. As one of the nation's leading providers of local news, entertainment, sports, lifestyle, and network programming, Nexstar produces and distributes over 275,000 hours of local content per year. 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. He founded Nexstar in 1996 with one local television station in Scranton, PA, and began building the foundation of what became one of the world's leading local marketing and content companies, leveraging localism to bring new services and value to consumers and advertisers across its traditional media, digital and mobile media platforms. No, Craig, it's really interesting. On the strategic side, we acquired a 75% interest in the CW network for no purchase consideration, adding a national broadcast platform to our portfolio, another asset in addition to NewsNation and ATSC 3.0 that will be capable of contributing long-term outsized growth to the company. The company says that you can watch for free on the NewsNation Now app. And I now would like to turn the conference over to Joe Jaffoni, Investor Relations. Thanks, Priscilla, and good morning, everyone. But it is certainly a tailwind in core advertising revenue that auto is up and up double digits, and we see that continuing throughout the year. Sook said the rebrand of WGN America as NewsNation will take effect on Monday and he said the cable network "far exceeded budgeted expectations" in 2020. But the leverage we expect to fall again in 2024, which will be a political year. The only time we had video of what was going on in town was if there was a car wreck or a house fire, Sook says. grand river waterfront homes for sale; valentine michael manson; 29. The San Francisco station, KRON4, has run stories on both Pelosi and Feinstein. Perry Sook, CEO, Nexstar Broadcasting Group. In addition to posting another blockbuster year of financial results, Nexstar achieved a number of strategic and operational accomplishments that are positioning our company for future growth while enabling us to continue delivering the financial performance, cash flows and shareholder returns that investors have come to expect from Nexstar. Regular cars couldnt climb the muddy, steep hill. 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. Or is it just like a national game on that national feed? Okay. 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. Perry A. Sook-- Chairman and Chief Executive Officer Thanks very much, everyone for joining us. But yes, that is what people want us for is the local content. And I think that other team owners have taken notice of that. Offers may be subject to change without notice. I would say, things that will exist by 2024 that don't exist today. Increased expenses were offset by a reversal of an accrual due to a settlement in connection with our distribution agreement renewals. Hear the latest economic, business and market news, as well as global, national, and local news. 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. The script was passed down from Sinclairs corporate office in Maryland. Obviously, we spent a lot of time in front of local business owners and local advertisers. Our next question comes from Jim Goss with Barrington Research. Enjoy unlimited access to all of our incredible journalism, in print and digital. Boris Epshteyn, a former Trump staffer, has a recurring editorial segment. Before Nexstar sealed the deal to acquire Tribune, Sinclair tried to make the same purchase. As always, you should use these metrics in connection with our reconciling schedules and financial statements that have been prepared in accordance with GAAP and are filed with the SEC. Sook reaffirmed Nexstar's commitment to the transformation of the former WGN America into a news channel. And then obviously, once April comes and we're 24/5, we now set our sights on 24/7 and how we feel the 18 hours on Saturday and Sunday that are currently entertainment programming, we have to fill that with news. His first sales job took him to a small radio station with a daytime-only signal in Kissimmee, Florida. Our country is very important. NewsNation is also available across a wide range of streaming services including Sling, Hulu, YouTube TV, Vidgo, fubu TV, and DirecTV Stream. Excluding the results of the CW, net revenue was up 14.3%. After its merger with Tribune, Nexstar will be the largest owner of local broadcast stations in the U.S. Nexstar and the Illinois-based media company already have political activism in common. Could you talk a little bit about how else you are going to try to navigate that process of changing the content and publicizing the changes in the content to attract the desired audience since that transition could pose its own challenges? And again, we want to make the CW a -- I mean, it has a distribution on par with the big 4. Q4 digital revenues increased 10.1% year-over-year to approximately $112 million. So your leverage is really just your local content, your local news. Political Advertising Revenue 265.9 18.9 . Good luck on Tuesday! the host said as he concluded the interview. Despite the trends, we continue to expect to see spending in this category, albeit at a more modest clip. Today, broadcast television remains the only place for content creators, sports organizations, team owners and most importantly, advertisers to access local audiences at scale. Before I dive into my usual financial discussion, I wanted to take a minute to step back and discuss a few changes in our financial presentation that we've been foreshadowing. The CW generates revenue primarily from national television and digital advertising, distribution fees from affiliates and virtual MVPDs as well as some short-term continuing revenue from licensing content to an SVOD player. Later that summer, Fox45 covered Van Hollens visit to a Texas border patrol processing center. Nexstar Media Group owns NewsNation. But in terms of the things I'm talking about, in 2024, there could be a very modest amount. Outside of the huge Chicago-based cable network WGN America, most of its 196 stations are ABC, CBS, Fox, CW, and NBC affiliates in small and midsize markets. We appreciate you joining us today to discuss Nexstar's outstanding fourth quarter and full year financial results. And that and money are the 2 issues here. In the 2000s, Sinclair had a similar a must-run segment called The Point, hosted by a Sinclair lobbyist and ex-Navy intelligence officer. With respect to our free cash flow guidance, we've opted to use an attributable free cash flow figure that includes the cash flow of Nexstar and its interest in the Food Network and our attributable 75% interest in the losses of the CW and the related tax benefits of those losses. Our weatherboard was a map of the United States that you literally put color forms onyou know, like the rubber things that stick. Okay. We exceeded the $5 billion annual revenue milestone for the first time in the company's history, and we delivered record adjusted EBITDA, attributable free cash flow of $2.2 billion and $1.5 billion, respectively. Some of my most fun days, my best days, are when I go visit one of our local TV stations. With that, it's now my pleasure to turn the conference over to your host, Nexstar Chairman and CEO, Perry Sook. So, Sook began by figuring out how to benefit financially by operating or managing stations. We recorded $14.8 million in distributions from equity investments related to our 31% ownership in the TV Food network in the fourth quarter, which represents a 13.5% decrease over prior year quarter. In 2014, the Hubbard Broadcasting gave the Super PAC $450,000, $300,000 from the company and $150,000 from individuals. Perry Sook - Chairman and Chief Executive Officer Tom Carter - President and Chief Operating Officer Lee Ann Gliha - Executive Vice President and Chief Financial Officer Conference Call. Moving back to Nexstar expenses. 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. That will be followed by Tom's operations review and Lee Ann's financial review, and then we'll open the call for questions from you. I think we have another couple of years of these kinds of increases before we begin to approach 2019 levels, both from a national SAAR as well as unit spending. In a 2015 article on the announcement that then-Senator Mikulski would receive the presidential medal of freedom, the Fox45 site included a transcript of Mikulskis full reaction from the floor of the Senate. Prior to Nexstar, Mr. Sook was one of the principals of Superior Communication Group, Inc., which was sold in 1995 to Sinclair Broadcast Group. . So we're very bullish on it. Thats exactly what professional tennis player Jannik Sinner had in mind when he met up with Lindsey Vonn, US Olympic Champion and one of the best alpine ski racers of all time. Their political giving has since plummeted to $13,034 by 2018, all but $500 of which went to Democrats. Yes. Ratings for NewsNations news programming have been dropping all year. . Moving to distribution revenue. Pack and political advertising accounted for 50% of our political revenue. Is there any leverage around the ability to see local games that somehow rights constructed by the agreement with you or not? Host, Nexstar Chairman and Chief Executive Officer thanks very much, for... You literally put color forms onyou know, like the rubber things that stick they explore dedication! 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