Deadline: Nexstar CEO Calls Local Media “The Least Sexy, Most Sticky Part Of The Media Ecosystem” As It Pursues Deal For Tegna

Story from Deadline:

Nexstar, the CW owner and giant broadcaster that’s angling to get even bigger, said it’s made a home in local media because that’s a lucrative place to be.

Hollywood Reporter: Fox, CBS May Want In on Local TV Station Buying Spree

Story from Hollywood Reporter:

Are the big broadcast networks planning a local TV takeover?

Deadline: Pac-12 Extends Media Rights Deal With The CW Through 2030-31 Season

Story from Deadline:

The Pac-12 has extended its broadcast partnership with The CW through the 2030-31 season, the conference announced today.

Variety: National Association of Broadcasters Calls for FCC to Abolish National TV Ownership Rule Amid Nexstar-Tegna Deal

Story from Variety:

The National Association of Broadcasters (NAB) and several broadcast companies called for a repel of the FCC‘s longstanding national TV ownership rule on Friday.

Deadline; Media Stocks, Markets Soar As Fed Chief Signals September Rate Cut: “The Balance Of Risks Appears To Be Shifting”

Story from Deadline:

It’s been a long wait but Federal Reserve chair Jerome Powell energized stocks today as he cracked open the door to a possible interest rate cut at the Central Bank’s September meeting.

Variety: Nexstar to Acquire Tegna in $6.2 Billion Deal, Marking Big Move to Consolidate Local TV Biz

Story from Variety:

In a deal to combine two major players in the local TV station biz, Nexstar Media Group said it reached an agreement to buy Tegna in a transaction valued at $6.2 billion.

Deadline: Tegna Stock Rockets On Nexstar Merger Talks; FCC Appears Set To Ease Local TV Rules In Order To Smooth Deal’s Path

Story from Deadline:

Shares in local TV giant Tegna surged nearly 30% in mid-day trading Monday on news that leading station owner Nexstar is in advanced talks to acquire the company.

Variety: Nexstar Ad Sales Down 9%, CW Owner Beats on Q2 Earnings

Story from Variety:

Nexstar reported its second-quarter 2025 earnings Thursday, revealing ad sales dropped 9% year over year for the April 1-June 30 period without a presidential election to fuel political ad spend.

Deadline: Nexstar & Optimum Reach Carriage Agreement After Standoff

Story from Deadline:

After multiple stations went dark last week, Nexstar has reached a carriage agreement with Altice USA.

Variety: Fox Sports Gets Back Into Golf With LIV Deal

Story from Variety:

Fox Sports is taking a new swing at TV golf by striking a deal with LIV Golf, the Saudi-backed league that has been luring top players away from PGA Tour and has been seeking a wider presence in U.S. media.

Deadline: Nexstar Local Stations Including New York’s WPIX, Cable’s NewsNation Go Dark On Optimum In Carriage Dispute

Story from Deadline:

Two million subscribers of Optimum pay-TV systems are going without 63 Nexstar Media Group local stations and cable network NewsNation due to a carriage dispute.

Hollywood Reporter: Former WWE CEO Vince McMahon Settles SEC Charges Over Undisclosed Payments

Story from Hollywood Reporter:

The Securities and Exchange Commission says that it has reached a settlement deal with former WWE CEO Vince McMahon relating to undisclosed payments to an employee and an independent contractor with whom he allegedly had relationships with.

Hollywood Reporter; Media Deals Outlook: “Pent-Up Demand” to Fuel Big Year in 2025

Story from Hollywood Reporter:

If the prevailing wisdom among media executives the last several years was “it’s not worth trying to buy our rival, or scale up with a bolt-on acquisition, because it’ll get tangled up in red tape government reviews” then, post-Election Day, the mood has swung the other way rapidly to “expect a deal bonanza next year.”

Deadline: Nexstar Laying Off 2% Of Workforce, Focusing Cuts On Local Stations; The Hill Editor-In-Chief Bob Cusack Also Sets Exit

Story from Deadline:

Nexstar Media Group, which has been trimming staff at The CW in recent months, plans to expand those belt-tightening efforts by cutting 2% of its total workforce.

Deadline: Nexstar CEO Says FCC Can’t “Unilaterally” Revoke Broadcast Licenses Despite Donald Trump Threats

Story from Deadline:

NewsNation and CW parent Nexstar itself hasn’t drawn the ire of the incoming president, but its CEO Perry Sook says Donald Trump’s threats against big broadcasters, that the FCC could pull their licenses, is not really in the cards.

Paramount Global/Skydance merger - Hollywood Reporter: Incoming FCC Chairman Says ’60 Minutes’ Complaint “Likely to Arise” in Review of Skydance Deal

Story from Hollywood Reporter:

The Federal Communications Commission is likely to take a close look at a distortion complaint filed against CBS over its editing of an interview with Vice President Kamala Harris.

Deadline; The CW Layoffs: Scripted Chief Liz Wise Lyall & Unscripted Deputy Betsy Slenzak Among Execs Impacted

Story from Deadline:

The fallout around The CW’s layoffs is starting to emerge.

Variety: CW Lays Off More Than Two Dozen Employees Across Publicity, Development Teams

Story from Variety:

The CW has laid off several employees across its publicity and program development teams, Variety has learned.

Deadline: Donald Trump’s Win Could Finally End TV Station Ownership Cap, Nexstar CEO Perry Sook Says; Washington Must “Preserve Local Journalism”

Story from Deadline:

Returning to an issue that local TV station owners have railed about for years, Nexstar CEO Perry Sook said Donald Trump‘s election could help finally eliminate the cap on station ownership.

Variety: CW Network President Dennis Miller to Exit, Brad Schwartz to Assume Top Role

Story from Variety:

Dennis Miller is stepping away from his role as CW network president after two years in the position.