Nexstar Would Need to Sell, Swap for Future Deals Without 'Triggering Event,' Sook Says
Nexstar’s completed deal with Tribune leaves the combined company (see 1909190080) “just a hair under” the broadcast ownership cap, limiting options for TV mergers and acquisitions, said CEO Perry Sook Friday on an investor call. Though Nexstar has a year…
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and a half option to buy back WPIX New York -- divested to Scripps as part of the transaction -- doing so would require some sort of “triggering event” such as a rule change, Sook said. Being so close to the cap likely means Nexstar would need to sell or swap stations to get deals done in the TV industry without deregulation, Sook said.