Howard Strudler, Perry Sook, Rich Raaf, Alex Lunney, Steve Capozzoli 2. And one of your peers has also recently launched a service that's going to pick up regional or local sports rights. In the fourth quarter, yes. Or any difference in rates that you're achieving or anything else we need to think about? CEO says Nexstar will spend more than $10 million on promo campaign for news network after Labor Day. I think, again, if we had a sunset for 1.0, even if it was several years, hence, that would cause the set manufacturers to begin to build to that standard, lessen the backward compatibility problem with those that don't have sets -- compatible sets that need dongles or receivers and all of that has to be dealt with and the consumer issues have to come first and foremost. We had two separate studios for local news, two different on-air staffs, and two separate sales forces. Starting with core advertising with our portfolio of strong national and unparalleled local broadcast, we believe that Nexstar has the ability to improve our core advertising by uniting our go-to-market strategies under the 1 united Nexstar platform using data-driven strategies to achieve our clients' objectives. Mr. Sook was a principal of Superior Communications Group. kenton county section 8 application; 2 bedroom houses for sale in leigh on sea It was financed by a big capital investment firm that bought some stations from CBS but, Sook says, was without a management team or any business thesis as to how to operate. With no money to make acquisitions on his own, Sook got creative. Sorry. A 501(c)(3) tax-exempt, charitable organization, 1100 13th Street, NW, Suite 800 In addition, we continue to provide fact-based unbiased news for which our sponsors have been awarded for the excellent -- for which our reporters have been awarded for their excellence and our NewsNation cable network has been recognized by independent watchdog groups as -- for its content being reliable, balanced and trustworthy. And with regard to overall growth, again, if you look at our expectations, assuming no further blackouts in a quick resolution at low double digits, the bridge between low double digits and mid-teens would be increased attrition. does my dad have a mental illness quiz; disadvantages of multimodal learning style. SOOK, Perry A. BSC '80 Chairperson Southlake, TX. But about the overall though for 1Q. And I think for the long-term health of the local ecosystem, we talk to people at Roku, at Fubo, at other virtual MVPDs, and we asked them, what are they watching? I mean given all the controversy and uncertainty out there about the U.S. economy and given how large your footprint is on the TV station side, Perry or Tom or et cetera. So is the change to the implied net just the difference in gross or anything else on the reverse comp side? I think you said SG&A was up $5.9 million, excluding the CW. So it's not an inconsequential number. They also gave $5,700 to Rep. Greg Gianforte, who became well known nationally after physically assaulting a reporter. Seasonally attributable metric is a good proxy for the cash flow available to be reinvested to be used to repay debt or return to shareholders. The one-hour program features market and geopolitical discussions with a rotating panel of influential voices including thought leaders, CEOs, policy makers and economists. Sook spends a great deal of time sorting through financial matters in New York and meeting with regulators in Washington, D.C. 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. 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. But yes, that is what people want us for is the local content. In 2014, Sinclair gave Mikulski $25,000. With that, it's my pleasure to turn the call over to Lee Ann for the remainder of the financial review and update process. Future US, Inc. Full 7th Floor, 130 West 42nd Street, No spam, ever. Extended our network affiliation agreements with ABC. It was to a mobile home dealer, says Sook, still a bit proud. The rebrand hinges on a down-the-middle. They reside in Flower Mound, TX. He was right. 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. And as in the past, we will provide the results of that process in our annual proxy statement. He wants to tell stories that are happening outside the beltways. Feel free to distribute or cite this material, but please credit OpenSecrets. Perry A. Sook -- Chairman and Chief Executive Offcier Thank you, Joseph, and good morning, everyone. Except for the Revolving Door section, content on this site is licensed under a Creative Commons Attribution-Noncommercial-Share Alike 3.0 United States License by OpenSecrets.org. It will be based in Chicago and run out of Chicago, drawing on the backbone of those 5,400 journalists sprinkled around the country.. Perry Sook, president and CEO of Texas-based Nexstar Media Group, is a seasoned broadcast TV executive who steered Nexstar 's $4.1 billion acquisition of Tribune Media. On a consolidated basis, fourth quarter adjusted EBITDA increased 19.8% over the prior year to $598.2 million, representing a 40.2% margin and fourth quarter attributable free cash flow increased 27.8% to $422.1 million. Who's Nexstar CEO Perry Sook? He focuses on revenue-generating activities, including advertising and distribution, as well as executive intrigue and merger and acquisition activity. And at that point, obviously, we're getting higher cost per thousands in news programming than we did in off-network programming. The Hill will join Irving-based Nexstar's . No, Craig, it's really interesting. Regular cars couldnt climb the muddy, steep hill. This continues to be in line with the historical trends with local advertisers maintain more consistent levels of ad spending throughout economic cycles. It's a single-digit amount. The company also spent $390,000 lobbying during this period and employed a former chief counsel to Sen. John Cornyn (R-Texas) and a former deputy staff director for Sen. Chuck Schumer (D-N.Y.) as lobbyists. This concludes our conference call for today. Blackburn got $5,700 and Arizona Senate candidate Joe Arpaio got $2,000. I realized that there were 10,000 guys like me for every Walter Cronkite, Sook says. Or is it just like a national game on that national feed? TV continues to be the gold standard for political advertisers with local TV and local cable TV together representing 70% of gross political ad spending. Perry Sook, chairman, president and CEO of Nexstar Broadcasting Group, is not worried about political ad revenue given the ascendancy of Donald Trump in the GOP race, despite his reliance more on earned media than paid media. Beginning with the LIV Golf season, which kicked off last Friday, the CW will air 14 global events and stream the events live on our CW app. I mean, we wouldn't rule any of it out. Yes. Our next question comes from Steven Cahall with Wells Fargo. Well, again, I've said for the full year, we expect high single to low double-digit growth. '23 and '24 will benefit from new distribution agreements and as we've discussed, 2024 as the presidential election and big political year. So maybe as expected, Tom, hoping we could just unpack some of the things you went through on retrans a little bit. It's clear from our results that 2022 was a monumental year for Nexstar and a referendum on the power of the broadcast model and its ability to deliver audiences at scale and strong levels of free cash flow. And so I think you'll see affiliates continue to press the point that we should negotiate our own agreements and that no one else should be negotiating on behalf of our content. All statements and comments made by management during today's conference call, other than statements of historical fact may be deemed forward-looking statements for purposes of the Private Securities Litigation Reform Act of 1995. To that end, on the cover of our earnings release and in the tables at the back of the release, you will be able to find selected financial metrics for Nexstar on a consolidated basis, for Nexstar, excluding the CW and also for the CW on a stand-alone basis. Global Edition. Are those negotiations coming up at all? So, there were challenges. Nexstar took control of The CW and signed a . But when it came time for the owner of the station to pay me my commission, he said, Well, we had a problem at the transmitter, and I had to buy a part. After a few weeks of excuses, I realized I was never going to get paid my commission. 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. For those with a cable subscription package, NewsNation might be included in the subscription offerings, and NewsNations channel finder can locate the correct channel. But more reliance on unscripted, but a higher quality of unscripted, a higher profile, something that's maybe a little bit more noisy that will get some attention and get some eyeballs. Nexstar undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. But to put it in perspective, excluding revenue we generated from the carriage of NewsNation, which Nexstar negotiate separately, less than 10% of our gross distribution revenue is derived from virtual MVPDs. For additional details on these risks and uncertainties, please see Nexstar's annual report on Form 10-K for the year ended December 31, 2021, as filed with the Securities and Exchange Commission and Nexstar subsequent public filings with the SEC. 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. As a reminder, we typically spend less in CapEx in odd number nonpolitical years than political years. I know you said core was -- for local was holding up pretty well, maybe down about 2% somewhat. Political Advertising Revenue 265.9 18.9 . Thomas Carter, the CFO, did the same. Segments like News Central and the Terrorism Alert Desk have been aired as must-runs at Sinclair-owned stations. 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." . 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