Nexstar Corporation, a leading local TV giant and owner of CW, is undergoing significant changes in its executive leadership. The company has appointed Michael Biard as its new President and Chief Operating Officer (COO), effective August 21. Biard will succeed Tom Carter, who will transition to a senior advisor role within the company.
Nexstar CEO Perry Sook expressed his confidence in Biard’s leadership abilities, stating, “Michael is a talented, innovative, and deeply experienced media executive who will be a great leader for Nexstar. We believe his vision and judgment will be invaluable as we continue to maximize Nexstar’s shareholder return and strategically pursue mergers and acquisitions.”
Biard, who previously served as the President of Distribution at Fox Corp., will join Nexstar with a deal that extends through 2027. In a statement, Biard expressed his enthusiasm for the opportunity to contribute to Nexstar’s growth and expansion. He also acknowledged his appreciation for his colleagues and friends at Fox, particularly Lachlan Murdoch and John Nallen, for allowing him to pursue this new role.
Nexstar has been on an aggressive growth trajectory in the past few years, making strategic acquisitions such as The Hill and The CW. Additionally, the company launched its cable channel NewsNation to establish a stronger national presence. These moves reflect Nexstar’s commitment to expanding its national brands and audiences.
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Following Biard’s departure, Fox Corp. announced the promotion of David Espinosa as its new Head of Distribution. This role is crucial for the company, as a significant portion of its cable distribution deals are set to come up for renewal in the next year. Fox COO John Nallen expressed gratitude for Biard’s contributions to the company and confidence in Espinosa’s leadership and strategic insight during the transition.
Nexstar’s appointment of Biard as President and COO comes at a time when the company is focused on maximizing shareholder return and exploring strategic opportunities. They aim to enhance the value of their spectrum through the additional deployment of ATSC 3.0 technology and strategically target accretive mergers and acquisitions. This demonstrates Nexstar’s commitment to staying at the forefront of industry advancements and driving growth.
The television industry has experienced significant changes in recent years, with the rise of digital platforms and streaming services. As a result, traditional TV broadcasters like Nexstar are adapting their strategies to remain competitive and retain their audiences. By appointing experienced executives like Biard, Nexstar aims to leverage their expertise to drive innovation and growth.
With Biard’s leadership, Nexstar looks forward to further expanding its reach and solidifying its position as a leading media company. The company’s strategic approach and disciplined execution will likely lead to continued growth and expansion in the coming years. Nexstar’s commitment to delivering high-quality content to viewers across the nation is evident in their recent acquisitions and the launch of NewsNation.
As Nexstar continues to make strides in the television industry, the company remains focused on maximizing shareholder return and pursuing strategic opportunities. With Biard at the helm as President and COO, the company is well-positioned to navigate the changing media landscape and deliver exceptional value to its shareholders and audiences alike.
