Nexstar Media: Broadcasting's Biggest Bet - [Business Breakdowns, EP.221]

In this episode of Business Breakdowns, Zack Fuss interviews Simeon McMillan about Nexstar Media Group and the broadcast television industry. Simeon explains the structure of the broadcast TV industry, its evolution from the pre-internet era, and the revenue streams that sustain it, including retransmission fees from MVPDs. The discussion covers the impact of cord-cutting, industry consolidation, and Nexstar's financial profile, strategic investments, and content development, including the acquisition of the CW Broadcast Network and the development of NewsNation. Simeon also touches on the challenges and opportunities facing Nexstar, including the potential of ATSC 3.0 and the importance of capital allocation in a declining industry.