Nexstar Digital & Nexstar Broadcasting Merging
• Nexstar Media Group, Inc. announced that, effective November 1, 2020 it will combine its two primary operating subsidiaries, merging Nexstar Digital LLC, and Nexstar Broadcasting, Inc. to create a new single operating subsidiary. As part of the corporate streamlining, Nexstar Broadcasting, Inc. will be renamed Nexstar, Inc. Nexstar expects a mid-seven figure expense savings in 2021 as a result of the synergies, efficiencies, and streamlined reporting structure resulting from this realignment.
Nexstar Media Group’s three primary businesses — broadcasting, networks and digital – will now be operating divisions under the Nexstar, Inc. umbrella. The digital business unit will be led by Karen Brophy, who will assume the role of President, Digital with responsibility for Nexstar’s 121 local websites, programmatic, data science, social media, group sales and partnerships as well as the ongoing streamlining of the Company’s ad tech stack to better align Nexstar with today’s digital environment.
Ms. Brophy (left), brings to her new role more than 20 years of product and business operations experience, including more than 15 years working with leading media and entertainment corporations. Before joining Nexstar in 2018, she served as SVP of Strategy and Operations at Hearst Newspapers where she led key initiatives in video, audience development and business operations. Prior to that, she spent seven years as Vice President of Digital Product at Hearst where she led consumer product, engineering, content strategy and revenue partnerships.
Timothy C. Busch (center) will serve as President, Broadcasting overseeing the Company’s 197 television stations and related digital multicast signals which reach 115 markets, and Sean Compton (right) will serve as President, Networks overseeing WGN America, AntennaTV and WGN Radio.
Brophy, Busch and Compton and will report directly to Nexstar Media Group President, Chief Operating Officer and Chief Financial Officer, Thomas E. Carter. Following a transition period, Gregory R. Raifman, who currently serves as President of Nexstar Digital LLC, will leave the Company at the conclusion of his contract on March 31, 2021.
