Nexstar eyeing more small media acquisitions for digital content

  • In Business
  • 2021-09-14 14:24:56Z
  • By Axios

Nexstar, the local broadcasting giant that recently bought The Hill for $130 million, is mounting an aggressive acquisition campaign, sources tell Axios.

Details: The company is going after smaller media companies that cover the three pillars of its content strategy: sports, news, and weather.

Get market news worthy of your time with Axios Markets. Subscribe for free.

  • According to two sources familiar with the deal conversations, Nexstar is trying to invest in smaller companies across digital and audio that can help bolster the digital presences of its local TV stations.

  • One source called Nexstar "thirsty," given how aggressive it is being in pursuing full acquisitions over shared content and distribution partnerships.

The big picture: Many media companies are looking to grow in scale by acquiring smaller players, as doing so allows them to stay independent, instead of needing to be acquired or merge with another company.

  • Crain Communications, one of the largest privately held business media publishers, is eyeing several small-scale acquisitions, two sources tell Axios. The company is eyeing smaller, distressed assets that can help it scale across new verticals.

  • Ozy Media, executives told Axios last week, has named billionaire businessman Marc Lasry as its chairman. Lasry said he intends to use his existing relationships with firms like Goldman Sachs and Morgan Stanley to help the company do more deals.

Go deeper: GovExec completes 9th acquisition as revenues double


More Related News

Conservationists push centrists to back Biden
Conservationists push centrists to back Biden's climate agenda with $4 million ad buy

The League of Conservation Voters and Climate Power are aiming another $4 million worth of ads at centrist House Democrats, urging them to support the...

Youngkin tightening the race in Virginia gubernatorial run
Youngkin tightening the race in Virginia gubernatorial run

Standing on a flatbed hitched to a John Deere tractor in red Rockingham County, Virginia, Glenn Youngkin decried California liberalism and bashed his rival, ...

Scoop: Centrists back $3.5T package
Scoop: Centrists back $3.5T package

Two of the nine House centrists who demanded Speaker Nancy Pelosi (D-Calif.) bring the $1.2 trillion bipartisan infrastructure bill to the floor by Monday...

Chinese tech execs support
Chinese tech execs support 'common prosperity', helping SMEs at internet summit

Chinese technology executives, facing a crackdown (https://www.reuters.com/world/china/china-crackdown-wipes-hundreds-billions-off-top-companies-values-2021-...

Leave a Comment

Your email address will not be published. Required fields are marked with *

Cancel reply


Top News: Business