Nexstar CEO Perry Sook Rips DirecTV For Its Opposition Of Tegna Deal

Key Points:

• Nexstar CEO Perry Sook criticized DirecTV, a plaintiff opposing Nexstar's $6.2 billion merger with Tegna, calling the label "broadcast behemoth" misleading given Nexstar's competition with much larger tech companies like Amazon, Google, and Meta.
• Sook accused DirecTV of frequently causing retransmission disputes, noting that 83% of blackouts occurred on its systems, and suggested that the involvement of six state attorneys general in the lawsuit is politically motivated due to upcoming elections.
• The Nexstar-Tegna merger, which would extend Nexstar’s reach to 80% of U.S. households, has been blocked by a federal judge, but Nexstar is appealing the decision and expects a resolution over several months.
• Sook defended the potential consolidation of local TV stations, asserting that maintaining the status quo would lead to newsroom closures, and argued that combining resources could improve efficiency without reducing the diversity of viewpoints.
• Having invested $15 billion in Nexstar and as its third-largest shareholder, Sook emphasized his commitment to the company's growth and confidence in ultimately prevailing in the legal battle over the merger.