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MarketScreener Homepage  >  Equities  >  Nasdaq  >  Nexstar Media Group, Inc.    NXST

NEXSTAR MEDIA GROUP, INC.

(NXST)
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Nexstar Media : Broadcasting Appoints Tina Marie Castano as Vice President and General Manager of its Broadcast and Digital Operations in New York's Southern Tier, Overseeing Binghamton and Elmira/Corning, NY

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09/14/2020 | 12:40pm EDT

General Management, Sales, Programming, and Marketing Executive with 25 Years of Local Broadcasting Experience to Lead WIVT-TV, WBGH-TV, WETM-TV, WETM.2, binghamtonhomepage.com, and mytwintiers.com

BINGHAMTON/ELMIRA/CORNING, NY and IRVING, TX (September 14, 2020) - Nexstar Broadcasting, Inc., a wholly owned subsidiary of Nexstar Media Group, Inc. (Nasdaq: NXST), announced today that it has appointed Tina Marie Castano to Vice President and General Manager of its broadcast and digital operations in Binghamton, NY (DMA #161) and nearby Elmira/Corning, NY (DMA #178), overseeing WIVT-TV (ABC), WBGH-TV (NBC), WETM-TV (NBC) and WETM.2 (ATV), and their related social media channels. Ms. Castano is a native New Yorker and is deeply familiar with the Southern tier of the state, having graduated from Binghamton University. She will assume her new responsibilities immediately and report to Theresa Underwood, Senior Vice President and Regional Manager for Nexstar Broadcasting.

Ms. Castano brings 25 years of broadcast management leadership, programming, sales, and marketing experience to her role at Nexstar and has consistently demonstrated the ability to grow ratings, revenue and profitability throughout her career. Since 2018, Ms. Castano has served as the Vice President and General Manager of WLNE-TV (ABC), in Providence, RI (DMA #56), overseeing the long-term strategy and day-to-day operations of the station's broadcasting, digital and mobile platforms.

During her tenure at WLNE-TV, Ms. Castano and her team increased local content by launching a new 4 p.m. weekday newscast and a newly designed website and mobile application, generating increases in viewership, unique visitors, and page views. Understanding the importance of creating unique and innovative strategies for advertising and marketing clients, Ms. Castano and the WLNE-TV staff partnered with local community leaders to raise awareness regarding substance abuse through locally televised town hall meetings on the subject of opioid addiction. She also worked with the Providence Teacher's Association to develop 'Lessons on ABC6,' specialized local digital content designed to keep school-aged children engaged in learning during quarantine and prepare them for the upcoming school year.

Prior to WLNE-TV, Ms. Castano served in a variety of sales, programming and management leadership positions, including ten years as the Vice President and General Manager of WLWC-TV (CW) in Providence, from 2007 to 2017. She led the station through multiple ownership changes, including the years when WLWC-TV was managed by Nexstar Broadcasting. During her tenure at WLWC-TV, Ms. Castano increased exclusive local content, launched a comprehensive rebranding effort, and developed the station's highly-successful 'Community Works' program, which provided a platform for local non-profit organizations to raise concerns about important community issues, generating substantial non-traditional revenue.

'Tina Marie's proven leadership experience as a broadcast executive, coupled with her lengthy track-record of success working for Nexstar and other broadcasters as well as her familiarity with the Southern tier region of New York, all make her the ideal candidate to lead our growing broadcasting and digital entities at WIVT-TV, WBGH-TV, WETM-TV and WETM.2,' said Ms. Underwood. 'Her results-oriented approach to the business of broadcasting has enabled Tina Marie to grow broadcast and digital revenues, expand local programming, and identify non-traditional revenue streams and new business opportunities throughout her career. She has consistently built highly successful sales teams who deliver innovative marketing solutions that generate positive results for local and national advertisers. We welcome Tina Marie back to Nexstar, and we look forward to celebrating the continued successes we have achieved to date through our dedicated teams serving the Southern tier of the state of New York.'

Commenting on her new role, Ms. Castano said, 'I am grateful to Nexstar for giving me the opportunity to return to the company and oversee its broadcast and digital operations serving the Southern tier. I've been familiar with this area since attending college at Binghamton University and I am excited to be coming back to the Binghamton and Elmira markets. These four stations have a legacy of success and service to their communities, and I look forward to working alongside the staffs of both to continue generating unparalleled results for our clients and enhancing the overall experience for our dedicated viewers and digital users. Nexstar's strong commitment to superior local content production and service, combined with its scalable diversified marketing solutions, will deliver distinct competitive advantages for our clients.'

Ms. Castano earned her BA in political science, literature, and rhetoric from Binghamton University and her master's degree in telecommunications from Penn State University. She is an active participant in industry-related organizations, serving most recently on the boards of the Rhode Island Broadcasters Association and the Harrington School of Communication and Media at the University of Rhode Island. Throughout her career, Ms. Castano has been very involved in the communities in which she has lived and worked, previously serving on the boards of the Martin Luther King Center in Newport, RI, the Rhode Island Hispanic Chamber of Commerce and Women's Leadership Council of United Way.

Ms. Castano and her husband, John, have been married 33 years and they have three adult children, Sabastian, Christian, and Victoria. She will be immediately relocating to the Southern tier.

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About Nexstar Media Group, Inc.
Nexstar Media Group is a leading diversified media company that leverages localism to bring new services and value to consumers and advertisers through its traditional media, digital and mobile media platforms. Nexstar owns, operates, programs or provides sales and other services to 196 television stations and related digital multicast signals reaching 114 markets or nearly 38% of all U.S. television households. Nexstar's portfolio includes primary affiliates of NBC, CBS, ABC, FOX, MyNetworkTV and The CW. Nexstar's community portal websites offer additional hyper-local content and verticals for consumers and advertisers, allowing audiences to choose where, when and how they access content while creating new revenue opportunities. For more information please visit www.nexstar.tv.

Media Contacts:
Theresa Underwood
SVP/Regional Manager
Nexstar Broadcasting Group, Inc.
315/446-9999 or tunderwood@nexstar.tv

Gary Weitman
EVP & Chief Communications Officer
312/222-3394 or gweitman@nexstar.tv

Investor Contacts:
Joe Jaffoni or Jennifer Neuman
JCIR
212/835-8500 or nxst@jcir.com

Disclaimer

Nexstar Media Group Inc. published this content on 14 September 2020 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 14 September 2020 16:39:03 UTC


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Financials (USD)
Sales 2020 4 389 M - -
Net income 2020 655 M - -
Net Debt 2020 7 010 M - -
P/E ratio 2020 6,14x
Yield 2020 2,49%
Capitalization 3 930 M 3 930 M -
EV / Sales 2020 2,49x
EV / Sales 2021 2,41x
Nbr of Employees 14 891
Free-Float 92,2%
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Mean consensus BUY
Number of Analysts 10
Average target price 122,50 $
Last Close Price 86,78 $
Spread / Highest target 49,8%
Spread / Average Target 41,2%
Spread / Lowest Target 29,1%
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Perry A. Sook Chairman & Chief Executive Officer
Thomas E. Carter President, Chief Operating & Financial Officer
Brett E. Jenkins Chief Technology Officer & Executive VP
Irving Martin Pompadur Independent Director
Jay M. Grossman Independent Director
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