D.C. Memo: Nexstar CEO Sook – Washington Has Not Said Company Needs to Sell Stations to Close TEGNA Deal
'As we’ve reported historically, we expect that if there are any divestitures, they would be de minimis to the overall value of the deal,' Nexstar CEO Perry Sook says
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Nexstar: Daniel Kurnos, Equity Research Analyst at Benchmark Company, claimed there’s “investor anxiety” over the status of the Nexstar-TEGNA merger and elimination of the 39% ownership cap restriction. But Nexstar CEO Perry Sook wasn’t buying it. “I would hope to not characterize investor anxiety around the elimination of the cap and approval of our deal. I would hope that anxiety would turn into enthusiasm,” Sook said on an earnings call Thursday. From all indications, Sook has the wind at his back as political resistance to his $6.2 billion deal (which is $800 million less than Paramount Skydance’s $7 billion break-up fee offered to Warner Bros. Discovery) as both President Trump (strongly) and FCC Chairman Brendan Carr (unequivocally) now support the TV station merger. “We certainly appreciate the support of the President vis-à-vis this tweet and follow-on comments by the Chairman of the FCC and his support for the deal. As to timing, that’s really the purview of the regulatory agencies,” Sook said. (More after paywall)
