Nexstar Media Group announced Thursday that effective Nov. 1 it will combine its two primary operating subsidiaries, merging Nexstar Digital LLC, and Nexstar Broadcasting Inc. creating a new single operating subsidiary.
As part of the corporate streamlining, Nexstar Broadcasting Inc. will be renamed Nexstar Inc. The new operational structure, it said, “will align the company’s national leadership in local content production with management teams that are broadcasting and digital subject matter experts to maximize the value of Nexstar’s content, national reach and significant consumer digital usage across multiple platforms.”
Nexstar expects a mid-seven figure expense savings in 2021 as a result of the synergies, efficiencies and streamlined reporting structure resulting from this realignment.
