Letter from Management
Nexstar was founded in 1996 with a set of core beliefs that include the strength and power of local journalism, diversity across the workforce, respect for our audiences, customers, employees, and shareholders, and the importance of taking a leadership role in the communities in which we operate. Over the years, we have adopted and evolved a variety of internal policies and procedures designed to safeguard the environment and promote ethical behavior, fairness, diversity and transparency in the conduct of our business.
At Nexstar, we understand that operating a media business is a form of public trust, and that we must be responsible and accountable stewards of it. Every day, Nexstar’s more than 5,500 journalists are out in their local communities, reporting on stories that matter to our viewers. They seek the truth and strive to act independently, transparently, and to be free from bias.
Nexstar’s core beliefs and the internal policies and procedures we have put in place over many years provide the framework for our continuing efforts to align the company with sound Environmental, Social, and Governance (ESG) practices. We are mindful of our ESG obligations and recognize that ESG is an ongoing process.
Our ESG efforts include, among other initiatives:
- The critical work of Nexstar’s Chief Diversity Officer and our Diversity, Equity, and Inclusion Council to expand diversity in our hiring, promotion, and retention processes.
- Launching a hub dedicated to Diversity, Equity and Inclusion on Nexstar’s employee intranet.
- Graduating participants in the Nexstar Employee Mentorship Program, which is designed to identify and support underrepresented employees.
- Codifying a policy prohibiting journalists and news personnel from making political contributions or participating in local, state, and national politics.
- Establishing NewsNation, our cable news network, as a place for audiences to go for unbiased and balanced reporting; a network recognized for its fairness by a number of media watchdog groups, including Ad Fontes, NewsGuard, and AllSides.
- Eliminating Nexstar’s Class B and Class C common shares of stock.
- Beginning the process of tracking our energy consumption and establishing goals for continuing to reduce our relatively small carbon footprint.
- Establishing a multi-year $2 million charitable partnership with Feeding America, the nation’s largest domestic hunger relief organization.
- Awarding more than $360,000 in grants from the Nexstar Media Charitable Foundation to support the local communities in which we do business. More details about our community involvement can be found here.
In addition, all of our employees are required annually to review and certify their compliance with the company’s Code of Business Conduct. They also receive ethics training, designed to help them identify and prevent unethical behavior, as well as anti-harassment, bias, and diversity training for employees beyond what is legally required. You can find a more detailed explanation of our ethics policies here, and more information on Diversity, Equity and Inclusion here.
We firmly believe ESG is good for business, good for our customers and communities, and good for Nexstar.
Perry A. Sook
Chairman and Chief Executive Officer
Thomas E. Carter
President and Chief Operating Officer