Nexstar Media Board Renews CEO Perry Soo'’s Term Until 2029

Nexstar Media Group has confirmed that its Board of Directors extended the employment agreement of its Chairman and Chief Executive Officer, Perry A. Sook, through March 31, 2029.

Sook is the Company's third largest shareholder.

Perry A. Sook founded Nexstar Media Group in 1996 and has served as Chief Executive Officer since that time. During his tenure, Sook has led the Company's transformative growth including the completion and integration of more than 40 acquisitions. Today, Nexstar is a leading diversified media company and America’s largest local broadcasting group.

Sook commented: "As we embark on this next phase of growth for Nexstar, I have never been more energised about the prospects for the industry, for Nexstar and for what Nexstar can become. I look forward to leading the Company to new levels of success and continuing to create value for our shareholders, our advertisers, our employees and the communities we serve."

Jay M. Grossman, Chairman of Nexstar's Board of Directors Compensation Committee, commented: "The Board is delighted to extend Perry's employment agreement at this pivotal moment for Nexstar and the local broadcast television industry. Perry's vision, commitment and deep understanding of the media landscape have been instrumental in driving Nexstar's strong and consistent record of operating execution, financial growth and shareholder returns.

"The proposed acquisition of TEGNA represents the next chapter in Nexstar’s growth story and with Perry’s unmatched experience and track record of success in broadcast M&A, he is uniquely qualified to deliver the full value we expect for shareholders, as well as the local communities we serve. On behalf of the entire Board of Directors, we are deeply grateful for Perry's exceptional leadership and continued commitment to our viewers, advertising clients, team members, shareholders and all stakeholders."

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