Benjamin Soff

Craig Huber

Daniel Kurnos

Steven Cahall

Jason Bazinet

Aaron Watts

Alan Gould

Barton Crockett

Patrick Sholl

James Goss

Khadir Richie

- Nexstar's strategy focuses on **local assets** and **television station acquisitions**, which form the foundation for The CW and NewsNation.  **[1142417_tx_379733_0]**  This approach is considered **durable** and provides a **competitive moat** due to existing infrastructure and relationships with **40,000 SMBs**.  **[1142417_tx_379733_0]** 
- The pending acquisition of Tegna is expected to result in Nexstar controlling **over 20% of local TV station inventory** in the U.S. and reaching **80% of the U.S. population**.  **[1142417_tx_379733_1]**  This transaction is anticipated to bring significant **scale synergies**, including rationalizing corporate costs, driving revenue, and improving negotiation leverage.  **[1142417_tx_379733_2]** 
- Nexstar expects to achieve **$300 million in synergies** from the Tegna deal within the first **12 months**.  **[1142417_tx_379733_6]**  The company has a **well-defined playbook** for acquisitions, having completed **40 acquisitions** in almost 30 years, and typically meets or exceeds stated synergy numbers.  **[1142417_tx_379733_4]** 
- NewsNation, which launched five years ago, has evolved into a **24/7 cable news source** and was the **fastest-growing cable network** over the previous 12 months.  **[1142417_tx_379733_7]**  It has been **profitable from day one** due to existing distribution revenue and an embedded ad sales team.  **[1142417_tx_379733_7]** 
- Nexstar gained majority control of The CW and pivoted its programming to **live sports**, spending **$1 billion on sports rights** in about six months.  **[1142417_tx_379733_8]**  This has led to significant viewership increases, with NASCAR averaging **over 1 million viewers per race**.  **[1142417_tx_379733_8]**

Nexstar discusses strategy, Tegna acquisition, and NewsNation growth

NEXSTAR MEDIA GROUP (NXST)