Nexstar Broadcasting CEO Perry Sook told investors this week that the company is nearing the sale of approximately $50 million worth of television stations. No particular stations were cited.
Sook also spoke positively of the new push Nexstar is making toward cashing in on the local search market through its stations' websites. According to Radio and Television Business Report:
"We have this local branded promotion megaphone that we can use to take our local search product to the local marketplace," Sook said of the ability of Nexstar's TV stations to drive local traffic to their websites for the fast-developing local search business. Sook said local TV has some unique advantages that have not been utilized, "but I can tell you our company is focused on maximizing and leveraging across multiple platforms."
Whatever Sook said seems to have hit the right chord with investors. Over the past two days, Nexstar stock has picked up 48 cents per share, up to $4.80. It was only a few short weeks ago that Nexstar dipped below $4 per share for the first time.
Sook told the investors big things are on the horizon, according to the article:
"I think that Google would kill to have what we have."
Nexstar Broadcasting owns KSNF in Joplin and KSFX in Springfield, and operates KODE in Joplin and KOLR in Springfield.
3 comments:
Allow me to speculate about what Google would "kill" to have:
1. $600 Million in debt with creditors prowling--forcing the sale of low profit stations?
2. Stock price that has INCREASED in value to roughly the price of a Happy Meal?
3. Undeniably useless websites that Sook champions as sources of future profit. Most family blog sites are updated with more frequency than the KSN and KODE websites.
4. A broadcast corporation built around shared service agreements in multiple markets--an exercise the FCC is likely to reconsider with a Democrat congress in place and proof that SSA's are hurting, not helping local coverage.
5. Or maybe those Google guys would "kill" for Perry's wind tunnel tested hair-do?
The Google guys wipe their ass with paper that is worth more than Nexstar stock.
God love you Perry...keep those lines comin'--they're gold!
Hmmm...Google stock is worth almost five times it's IPO...Nexstar is about 1/3rd. I don't think they would "kill".
Selling stations isn't exactly what he last espoused in personal meetings with stations...his line then was to continue acquisitions.
Maybe reality is hitting.
Nexstar is the death of a station and employees careers.
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