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The buying and selling of media properties was in the air during several of the recent quarterly earnings calls of companies with broadcast TV properties. Not that it was necessarily explicit. However, there were some specifics related to big political windfalls. And company officials also discussed the impact of sports programming, streaming maneuvers and which core advertising categories are showing strength.
A potential asset sale was certainly in the glaring subtext during Paramount’s abbreviated and heavily scripted call, which was presided over by a freshly installed triumvirate of executives who were elevated to fill the gap after CEO Bob Bakish was pushed out of his position — reportedly due to disagreements related to the acquisition contenders.
If Paramount’s CBS stations come up for grabs, don’t count on Nexstar to go after them. “Obviously, given our station footprint, you know, the digestion of CBS station assets would be a tough path, particularly under this regulatory environment and regime. If that were to change, maybe, you know, our opinion would change,” said Perry Sook, Nexstar founder, chairman and CEO.
However, Sook said that if he were a gambling man, he’d bet that that three years from now his company will be even larger than it already is.
Fox also appears to be open to new acquisitions, eventually. “We obviously don’t want our balance sheet to go to waste, but we haven’t found anything yet that we’re immediately going to do or follow,” said Lachlan Murdoch, the company’s executive chair and CEO.
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