Nexstar CEO Warns Big Tech Dominance Threatens Future of Local Television News
Nexstar CEO Perry A. Sook warned that Big Tech’s growing control of news consumption and advertising could undermine local television, arguing that consolidation through Nexstar’s proposed TEGNA acquisition is needed to preserve local journalism. (Shutterstock)
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Nexstar Media Group CEO Perry A. Sook warned that Big Tech platforms are reshaping news and could endanger local television, following the collapse of local newspapers.
He said companies including Google, YouTube, Meta, Amazon and TikTok now dominate media consumption, with YouTube accounting for one-eighth of U.S. television viewing and TikTok used for news by one in four young adults.
He cited estimates that five major digital firms could control 65% of a $260 billion advertising market.
Sook referenced 270,000 newspaper job losses and said Nexstar’s proposed TEGNA acquisition would help preserve local journalism across 130 communities and 18,000 employees.
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