Nexstar Broadcasting Gone as of November 1st

Just before the election and Nexstar Broadcasting is going away.

The company announced that starting on November 1st, Nexstar Broadcasting and Nexstar Digital will be combined to create Nexstar Inc.

The company says that the new operational structure 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. 

So, why are they doing this?

Money, of course.

Nexstar says that by combing broadcasting and digital, they expect a mid-seven figure expense savings in 2021 as a result of the synergies, efficiencies, and streamlined reporting structure resulting from this realignment.

As you know, when you hear the word “synergies” it is best to update your resume.

The first domino to fall? The company says that Gregory Raifman, who currently serves as President of Nexstar Digital, will leave the Company at the conclusion of his contract on March 31, 2021.

H/T Yahoo

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