Entertainment

Nexstar CEO Perry Sook reveals 2022 payment plan – The Hollywood Reporter

In a wildly successful year for local broadcaster owners, Nexstar CEO Perry Sook’s 2022 salary package skyrocketed to $39.3 million, according to the company’s authorization filing, announced on Friday. This is up from $21.1 million in 2021.

Sook’s 2022 compensation package is primarily driven by a $33.3 million stock grant, with a $2 million salary, $1 million bonus and $3 million in incentive compensation. fair incentives.

In 2022, Nexstar not only hit record mid-term political ad revenue but also acquired The CW from Warner Bros. Discovery and Paramount, with the entertainment giants effectively paying the company $54 million to get it off their hands (and balance sheet).

The CW lost $94 million in the first quarter as a division of Nexstar.

Among other Nexstar executives, president and COO Tom Carter earned $2 million, and network chief Sean Compton (who oversaw the CW and NewsNation, among other channels) earned the package. for 2.5 million dollars.

Nextstar has been promoting expansion.

After reaching the maximum number of local TV stations allowed under current FCC rules (with some wiggle room), the company turned to cable and CW for expansion. In particular, the company invested in the cable news channel NewsNation, which features a group of TV news veterans and uses Nexstar’s local TV sources to compete with competitors. larger cable news player.

It also acquired The CW, with plans geared towards more reality, international and non-descriptive fares, as well as other value-driven programs like LIV Golf. Nextstar is already the largest owner of CW stations in the country.




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