Nexstar Ups CFO Tom Carter To Pres./COO

Carter

NEXSTAR MEDIA GROUP, INC. has promoted CFO THOMAS E. (TOM) CARTER to Pres./COO, effective THURSDAY (10/1). CARTER, who joined the company as CFO in 2009 and will continue as CFO "for the foreseeable future," has also signed a new contract keeping him with the company through DECEMBER 31, 2023.

Chairman/Pres./CEO PERRY A. SOOK said that CARTER "has been a trusted partner during his time at NEXSTAR and has been instrumental in driving the company’s operating and financial growth and the ongoing execution of our strategic initiatives to enhance shareholder value. During TOM’s 11-year tenure, NEXSTAR has grown its revenue base more than 12 times while the company’s equity valuation has risen by more than 90 times. Further, Tom has been tireless in his communications with the sell-side analysts who follow NEXSTAR and with our institutional investors, while leading our ongoing efforts to optimize our capital structure, reduce our cost of capital, and drive returns for shareholders.

“Along with our company’s Board of Directors, I am exceedingly confident that TOM will build on his 11 years of experience and success at NEXSTAR as he works with me to further grow our business and ensure that NEXSTAR creates new opportunities and value based on our ranking as the nation’s leading, diversified local media and content company. Our entire team congratulates TOM on this well-deserved promotion, and I look forward to continuing our close collaboration in the years to come.”

CARTER said, “I am extremely proud of the work and progress of the NEXSTAR Nation and grateful for the trust that PERRY and the Board have placed in me as I assume these new roles at NEXSTAR. Working alongside PERRY and the entire management team for the past 11 years has been a wonderful opportunity and we’ve collectively created a company of unmatched scale and unparalleled financial performance. In the last month alone, we’ve taken several actions from a capital structure and operating perspective to de-lever and create new growth opportunities. The future for NEXSTAR is very bright and I look forward to collaborating with the rest of the company’s executive team in our ongoing efforts to leverage NEXSTAR’s position as the nation’s leading local media company to create new value for shareholders.”

NEXSTAR's only radio property is News-Talk WGN-A/CHICAGO.

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