Local TV Management Anticipates More Consolidation, Seeks Greater Revenue Sources

Local TV broadcasting business management anticipates more consolidation moves -- which began about a year ago -- as well as greater emphasis on new digital platforms. Speaking at the Bernstein Future of Media Summit, Nexstar Broadcasting executives believe local broadcast could be whittled down to five or eight big TV station groups over the next three to five years. In 2014, there were 16 big local TV station groups, down from 33 in 2011.

Perry Sook, chairman/chief executive officer of Nexstar Broadcasting, said local TV will continue to be a different business than TV networks -- focused on helping local businesses, producing local content that is “platform agnostic,” as well as serving customers who can't served by “algorithms.” While many local TV executives are expecting low-single-digit-percentage growth for advertising sales, higher double-digit results will come in the way of retransmission revenues and digital revenues in the next several years.