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.