CEO Perry Sook’s Rare Insider Purchase of Nexstar – Insider Weekends

Nexstar Media Group (NXST): $181.09

Market Cap: $5.53B

Enterprise Value: $17.41B

Introduction and Company Overview

Nexstar Media owns 265 TV stations that allow the company to reach 80% of U.S. TV households. This level of concentration is usual, especially for a company in a melting ice cube business like local TV. To understand how this happened, we need to go back a few years to when its competitor TEGNA (a company created when the old newspaper giant Gannett split into two divisions) was in the middle of a bidding war.

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