The M&A frenzy in local TV has sparked the interest of some national business publications. BusinessWeek sits down with Sinclair CFO Dave Amy to talk about that group’s explosive growth, while Reuters catches up with Perry Sook to gauge his growth plans for Nexstar.
Reuters calls Nexstar a “serial acquirer” that is “in talks with several companies to buy TV stations and could spend up to $650 million on acquisitions over the next two years.”
Sinclair, meanwhile, is on the “prowl” for more stations on the heels of its $2 billion in deals the past year and a half, notes BusinessWeek.
Sinclair is looking for more takeovers after raising almost $500 million in a stock sale last month, Chief Financial Officer David Amy said in a telephone interview. Low borrowing costs and potential profit gains at stations, which are collecting more fees from cable systems, are an opportunity to bulk up, Amy said.
“We have significant potential in terms of additional acquisitions,” Amy said. “We don’t make any bones about what we’re after.”