Nexstar Broadcasting has reupped Thomas Carter, the group's executive VP and CFO, through December 2021.
Carter's new deal supersedes his previous agreement, which was set to expire in August 2018. Carter joined Nexstar as CFO in August 2009.
“In his seven years at Nexstar, Tom has been instrumental in structuring accretive growth transactions, extracting synergies through precise integration planning, bringing new efficiencies to our operating practices and significantly enhancing the Company’s access to and cost of growth capital. As a result, and upon completion of the Media General transaction, Nexstar will be one of the nation’s leading, diversified local marketing and content companies with annual revenue in excess of $2.3 billion," said president and CEO Perry Sook.
“We are grateful to Tom’s value-building contributions and look forward to the continued benefit of his vision and commitment to the Company’s viewers, advertising clients and shareholders. Tom has been invaluable in our capital market interactions while positioning Nexstar for continued growth with a portfolio of premiere stations and digital assets, a strong balance sheet and an attractive weighted average cost of capital which collectively affords us the financial flexibility to simultaneously allocate free cash flow to reduce leverage, evaluate additional accretive strategic growth investments and expand our return of capital to shareholders.”