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Nexstar Media Names Michael Strober as Chief Revenue Officer
Rhea-AI Impact
(Low)
Rhea-AI Sentiment
(Very Positive)
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Rhea-AI Summary
Nexstar Media Group has appointed Michael Strober as Executive Vice President and Chief Revenue Officer, effective January 2, 2023. Strober will lead the transformation of Nexstar's advertising sales strategy across its diverse media platforms, aiming for enhanced revenue growth. With over 25 years of experience in advertising and business transformation, he is expected to innovate Nexstar's approach to advertising solutions. The company’s extensive portfolio includes nearly 300,000 hours of original content broadcasted through its numerous television and digital assets.
Positive
Appointment of an experienced executive, Michael Strober, to drive sales strategy.
Focus on leveraging Nexstar's diverse media platforms for revenue growth.
Strober has a strong background in advertising innovation and digital transformation.
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None.
Proven Media Advertising Executive Will Lead Transformation of Sales Strategy, Leveraging Nexstar’s Linear, Digital, Mobile and Streaming Platforms to Deliver New Revenue Growth
IRVING, Texas--(BUSINESS WIRE)--
Nexstar Media Group, Inc. (NASDAQ: NXST) today announced the appointment of innovative and experienced sales and advertising executive Michael Strober as Executive Vice President and Chief Revenue Officer, responsible for leading the reimagination and execution of a new advertising sales and go-to-market strategy for the Company. As Nexstar’s diversified media portfolio has evolved into a powerful combination of national brands and reach, with the largest local broadcast station group capable of engaging local and national audiences at scale, this newly created position will enable the Company to effectively leverage its sales efforts across its linear, digital, mobile and streaming platforms to deliver new levels of revenue growth. Mr. Strober will report to Nexstar’s Chairman and Chief Executive Officer, Perry Sook, and begin his new duties January 2, 2023.
A recognized business leader with more than 25 years of experience in advertising sales, client strategy, business transformation and thought leadership, Mr. Strober has been a force in driving advertising innovation and building next-generation portfolio capabilities throughout his career. Since 2019, he has served as founder and president of Topwater Advisory Group, a strategic consultancy focused on digital transformation for several of the industry’s top media and advertising technology companies. Mr. Strober specializes in helping companies navigate the changing advertising marketplace through a focus on ad tech, data strategy, operational alignment, organizational design, product marketing and revenue management.
“With the successful acquisitions of Tribune Media, Media General, The Hill, Best Reviews, and The CW Network, and the launch of our cable news network, NewsNation, Nexstar has become an inimitable diversified media company, offering both nationwide reach and unparalleled local activation to advertisers,” said Mr. Sook. “Reimagining our sales strategy, our team of 1,500 sales personnel, and the management of our 40,000 advertiser relationships, will better align our sales efforts with the company we are today, delivering next-generation, data-driven advertising solutions and greater value for our clients, with best-in-class sales technology making it easier for them to do business with us across all of our platforms. Michael has led this type of sweeping change before, consulting with media clients on a variety of reinvention projects. His unique experience as an industry practitioner, paired with his role as a strategic advisor, makes Michael the perfect choice to lead the transformation of Nexstar’s sales efforts.”
Prior to forming Topwater, Mr. Strober was an integral member of the leadership team that reinvented Turner Broadcasting’s advertising sales division by shifting its focus to a data-driven, insight led team targeting C-suite executives and decision-makers to drive revenue. From 2016 to 2019, Mr. Strober served as Executive Vice President, Client Strategy & Ad Innovation for Turner and was co-head of Turner Ignite, the company’s portfolio solutions division. During his tenure at Turner, Mr. Strober formed Turner’s Client Council and was a co-chair of Turner AdLab, an industry-wide initiative dedicated to improving the consumer advertising experience. Mr. Strober also served as a founding Board member of OpenAP and currently serves as a director for the advanced media analytics firm, datafuelX.
Commenting on his appointment, Mr. Strober said, “I am delighted to be joining the Nexstar team during this period of transformative growth. Nexstar’s synergistic portfolio of linear and digital media properties is unique and presents a compelling opportunity to deliver both national scale and local impact to today’s advertisers. I believe Nexstar holds the potential to be one of the industry’s most consequential media companies over the next five years and I am honored to be part of its evolution.”
About Nexstar Media Group, Inc. Nexstar Media Group, Inc. (NASDAQ: NXST) is a leading diversified media company that produces and distributes engaging local and national news, sports and entertainment content across television, streaming and digital platforms, including nearly 300,000 hours of original video content each year. Nexstar owns America’s largest local broadcasting group comprised of top network affiliates, with 200 owned or partner stations in 116 U.S. markets reaching 212 million people. Nexstar’s national television properties include The CW, America’s fifth major broadcast network, NewsNation, America’s fastest-growing national news and entertainment cable network reaching 70 million television homes, popular entertainment multicast networks Antenna TV and Rewind TV, and a 31.3% ownership stake in TV Food Network. The Company’s portfolio of digital assets, including The Hill and BestReviews, are collectively a Top 10 U.S. digital news and information property. In addition to delivering exceptional content and service to our communities, Nexstar provides premium multiplatform and video-on-demand advertising opportunities at scale for businesses and brands seeking to leverage the strong consumer engagement of our compelling content offering. For more information, please visit Nexstar.tv.
