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Nexstar Media Inc. : Promotes Marc Hefner to Vice President and General Manager of Its Broadcast and Digital Operations in Dallas, Texas

10/21/2021 | 10:31am EST

Media Executive with 25+ Years of Broadcast Management and Sales Experience Will Oversee KDAF-TV, cw33.com, and Their Related Mobile and Social Media Channels

Nexstar Media Inc., a wholly owned subsidiary of Nexstar Media Group, Inc. (Nasdaq: NXST), today announced that it has promoted Marc Hefner to Vice President and General Manager of its broadcast and digital operations in Dallas, Texas (DMA #5), overseeing KDAF-TV, cw33.com, and their related digital subchannels, mobile apps and social media platforms. Mr. Hefner will assume his new responsibilities immediately and report to Traci Wilkinson, Senior Vice President and Regional Manager for Nexstar Media Inc.’s broadcasting division.

Mr. Hefner is a highly regarded leader within Nexstar and brings more than 25 years of broadcast management and sales experience to his new role at the Company. He first joined Nexstar in 2007 as the Vice President and General Manager of WCWJ-TV (CW) in Jacksonville, Florida (DMA #43), and YourJax.com. During his 10-year tenure, Mr. Hefner was recognized for expanding local programming, developing highly effective sales teams and significantly increasing linear and digital revenue, market share and profitability. He was also responsible for creating and developing more than 20 partnerships with local sports and entertainment brands in the Jacksonville area.

Since 2017, Mr. Hefner has served as Vice President and General Manager of WSAV-TV (NBC/CW) and wsav.com, Nexstar’s broadcast and digital operations in Savannah, Georgia (DMA #91). While at WSAV-TV, Mr. Hefner expanded local programming, launching a new 30-minute newscast at 11 a.m. ET, airing the “Blitz Boarder Bowl,” a high-school all-star football game, and creating and developing “Education Station,” aimed at area students forced into virtual-learning situations during the Covid pandemic. He was also instrumental in reformatting “The Bridge,” a local 30-minute lifestyle program featuring a variety of Savannah’s most unique people, businesses, entertainers, and restaurants. Mr. Hefner and his team also drove significant digital growth at wsav.com—generating a threefold increase in unique visitors and nearly doubling page views since 2017. Under his leadership, WSAV-TV developed several important community partnerships, launching “3 Gives Back” with Mercedes-Benz of Hilton Head, aimed at highlighting the efforts of local first responders, and airing a series of vignettes during local newscasts for “Volunteers in Medicine,” focused on the volunteer efforts of medical professionals working at a local clinic serving Hilton Head Island residents.

Before joining Nexstar, Mr. Hefner held a number of sales and management positions of increasing responsibility at media outlets in the Jacksonville market. Earlier in his career, Mr. Hefner worked in sales positions at television stations in Kansas City, Missouri, and Nashville, Tennessee.

“Marc’s familiarity with Nexstar and our broadcasting group will be a real advantage for him as he assumes his new role as Vice President and General Manager overseeing our media operations in Dallas, the country’s fifth largest market,” said Ms. Wilkinson. “Over the course of his career, he has consistently demonstrated the ability to significantly grow revenue and profitability by increasing existing advertising market share, identifying non-traditional accretive revenue streams, and developing a variety of innovative cross-platform marketing strategies and sponsorship opportunities. At both WCWJ-TV and again at WSAV-TV, Marc grew ratings, revenue, and market share, and deepened the station’s relationship with the greater community. We’re confident that Marc will meet with similar success managing the talented teams at KDAF-TV in Dallas, and we’re looking forward to working with him in his new position at Nexstar.”

Commenting on his promotion, Mr. Hefner said, “I am genuinely pleased to begin this new role and grateful to Nexstar for giving me the opportunity to manage its broadcasting and digital operations in Dallas. KDAF-TV and its related digital and social media channels are an integral part of the Dallas community and I am looking forward to expanding our audience on-air and on-line and to providing our advertisers with solutions specifically tailored to fit their unique needs. I can’t wait to get started.”

Mr. Hefner has been deeply involved in community groups throughout his career. In Savannah, he serves as Treasurer for United Way of the Coast Empire and is a member of the organization’s executive committee. While in Jacksonville, he was a member of the board of Goodwill Industries of North Florida, and was active in coaching youth sports.

Mr. Hefner earned his bachelor’s degree in political science from The University of Missouri. He and his wife, Jennifer, have been married 28 years and have three college-age children. Mr. Hefner and his wife will be immediately relocating to the Dallas area.

About Nexstar Media Group, Inc.

Nexstar Media Group, Inc. (NASDAQ: NXST) 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. Its wholly owned operating subsidiary, Nexstar Media Inc., consists of three divisions: Broadcasting, Digital, and Networks. The Broadcasting Division operates, programs, or provides sales and other services to 199 television stations and related digital multicast signals reaching 116 markets or approximately 39% of all U.S. television households (reflecting the FCC’s UHF discount). The division’s portfolio includes primary affiliates of NBC, CBS, ABC, FOX, MyNetworkTV and The CW. The Digital Division operates 120 local websites and 284 mobile apps offering hyper-local content and verticals for consumers and advertisers, allowing audiences to choose where, when, and how they access content and creating new revenue opportunities for the company. The Networks Division operates NewsNation, formerly WGN America, a national news and entertainment cable network reaching 75 million television homes, multicast networks Antenna TV and Rewind TV, and WGN Radio in Chicago. Nexstar also owns a 31.3% ownership stake in TV Food Network, a top tier cable asset. For more information, please visit www.nexstar.tv.

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Financials (USD)
Sales 2021 4 635 M - -
Net income 2021 776 M - -
Net Debt 2021 7 137 M - -
P/E ratio 2021 8,30x
Yield 2021 1,92%
Capitalization 5 971 M 5 971 M -
EV / Sales 2021 2,83x
EV / Sales 2022 2,32x
Nbr of Employees 11 749
Free-Float 82,9%
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Technical analysis trends NEXSTAR MEDIA GROUP, INC.
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Income Statement Evolution
Mean consensus BUY
Number of Analysts 10
Last Close Price 146,01 $
Average target price 185,40 $
Spread / Average Target 27,0%
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Managers and Directors
Perry A. Sook Chairman & Chief Executive Officer
Thomas E. Carter President & Chief Operating Officer
Lee Ann Gliha Chief Financial Officer & Executive Vice President
Dione J. Rigsby Vice President-Technology
Brett E. Jenkins Chief Technology Officer & Executive VP
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