Nexstar Media Group, a major media company and the largest U.S. local broadcasting group, has announced the extension of chairman, CEO, and founder Perry Sook’s employment contract until March 31, 2029. Sook, who founded Nexstar in 1996 and has been CEO since then, is also the company’s third-largest shareholder.

Under Sook’s leadership, Nexstar has pursued a growth strategy that includes over 40 acquisitions, positioning the company for further expansion. Notable recent developments include advocating for relaxed ownership regulations and a $6.2 billion deal to acquire Tegna in August.

In response to the contract extension, Sook expressed enthusiasm for Nexstar’s future growth prospects and his commitment to creating value for stakeholders. The Nexstar board’s compensation committee chairman, Jay M. Grossman, praised Sook’s vision and expertise, highlighting his role in driving the company’s operational success and financial growth.

Sook’s compensation for 2024 amounted to approximately $35.9 million, marking a 23% increase from the previous year.

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