Latest news with #Sook
New York Post
2 days ago
- Business
- New York Post
Nexstar to buy rival Tegna for $6.2B — creating nationwide local TV giant
Nexstar Media Group is buying rival Tegna for $6.2 billion in cash, creating a local TV broadcasting giant as the industry bets on regulatory changes to unleash consolidation. The acquisition prices Tegna shares at $22 each — representing a 31% premium over the company's average trading price before news of negotiations surfaced. Nexstar, whose subsidiaries include NewsNation, TV Food Network and a constellation of local affiliates in several large markets, beat out rival Sinclair, which was offering between $25 and $30 per share, significantly above Nexstar's winning bid. Advertisement 3 Nexstar Media Group is snapping up rival Tegna in a $6.2 billion cash takeover. Timon – But Sinclair is worth just $1 billion compared to Nexstar's $6.3 billion market cap, making it the industry David trying to beat Goliath. Making matters worse, Sinclair is drowning in over $4 billion of debt that would complicate any major acquisition. Sinclair pitched splitting off its side businesses — including Tennis Channel and other investments — and combining its core broadcast operation with Tegna's 64 stations, according to the Wall Street Journal. Advertisement Nexstar CEO Perry Sook hailed the deal with Tegna, adding that the Trump administration's deregulatory policies give local broadcasters chances to 'expand reach' and 'level the playing field' against Big Tech and major media corporations. The merger will bring Nexstar into key metropolitan areas like Atlanta, Phoenix, Seattle and Minneapolis, strengthening its nationwide coverage. Howard Elias, chair of Tesla's board, pointed to the industry's transformation, noting that lawmakers across the spectrum are pushing for updated broadcasting rules. Advertisement 3 The deal values Tegna at $22 a share — a 31% premium over its pre-deal average. JHVEPhoto – The combination pairs Tegna's television properties with Nexstar's extensive station network, reinforcing its status as a dominant force in local broadcasting. Sook highlighted his company's history of successful acquisitions, such as its purchase of Tribune Media six years ago. He outlined a familiar strategy: enhance local programming, realize cost efficiencies and use strong cash generation to reduce borrowing. Advertisement 'We believe Tegna represents the best option for Nexstar to act on this opportunity,' Sook stated, citing Tegna's quality stations in major demographic markets. 3 The deal with Tegna extends Nexstar's reach into cities nationwide. The image above shows the Tegna-owned NBC affiliate near Minneapolis. MelissaMN – Tegna's chief executive Mike Steib expressed enthusiasm about partnering with a like-minded broadcaster committed to local news. 'Together, we will expand news coverage to serve more communities, across more screens,' Steib said in the announcement. The deal was announced amid a difficult period for linear television as conventional broadcasters battle streaming platforms and tech companies for viewers and advertising revenue. Elias noted the merger would enable stations to 'be better able to compete in today's highly fragmented media environment.' The deal is contingent on regulatory approval, though both firms expressed optimism about the review process.
Borneo Post
15-07-2025
- Sport
- Borneo Post
SAGA XI to proceed as planned despite election uncertainty
Fairuz (centre) at the SAGA XI Team Sports Group Stage Draw at SICC on Tuesday. KOTA KINABALU (July 15): The 11th Sabah Games (SAGA), scheduled to take place in Tawau from October 11 to 17, will proceed as planned despite uncertainty over the timing of the 17th State Election. Assistant Youth and Sports Minister Datuk Fairuz Renddan gave the assurance, saying discussions would be held with Chief Minister Datuk Seri Panglima Hajiji Noor to ensure the Games run smoothly. 'We're not sure … that's up to the Chief Minister to decide when the election will be. But if it's held earlier, it won't interfere with the Games. 'God willing, there will be discussions with the Chief Minister so we can avoid any clashes,' he told reporters after officiating the SAGA XI Team Sports Group Stage Draw at the Sabah International Convention Centre (SICC) on Tuesday. Hajiji had earlier confirmed that the State Legislative Assembly sitting on July 7–8 was the final one for the current term, although he did not disclose when it would be dissolved. The assembly is set to dissolve automatically on November 11 if not done earlier. Fairuz said Tawau is ready to host over 8,000 athletes and officials for the state's premier multi-sport event. 'I believe all the teams are ready and, from the main organising committee's side, everything is already in place. We are just waiting for the date,' he said. The assistant minister also witnessed the draw for team sports including football, futsal, netball, basketball, sepak takraw, hockey, volleyball and rugby. A total of 23 sports will be contested in SAGA, involving 30 district contingents — including new additions Sook and Paitan. A total of 232 gold, 232 silver, and 339 bronze medals will be up for grabs in the biennial event. 'I would like to advise the athletes and teams to give their utmost best in SAGA, and hopefully more records will be set. 'More importantly, this is not just about the Sabah Games — we are also preparing for the next Malaysia Games (Sukma),' he added. Also present at the ceremony were Ministry Permanent Secretary Datuk Mansur Asun and Sabah Sports Council (MSN Sabah) Director Mohd Asneh Mohd Noor.
Borneo Post
06-06-2025
- Politics
- Borneo Post
Students may be invited to 50th Double Six memorial, says minister
Ellron paying his last respects at the Double Six monument. KOTA KINABALU (June 6): Students from schools and universities may be invited to participate in the 50th Double Six memorial ceremony next year, said State Youth and Sports Minister Datuk Ellron Angin. He said the proposal came after discussions with state leaders and the families of the victims of the 1976 tragedy. 'We are also suggesting that a representative from the federal government be invited to the occasion so that we can collectively commemorate the tragedy and reflect on the historical context of Sabah's political past,' he said. Ellron, who is also the Sook assemblyman, made the announcement during a press conference held at the 49th Double Six remembrance ceremony at the memorial site in Sembulan today. He also highlighted the positive response to a poetry competition held in conjunction with the event, which drew 132 participants, reflecting strong public interest and artistic engagement. The Double Six tragedy, which occurred on June 6, 1976, involved the crash of a Sabah Air GAF N-22B Nomad aircraft just three kilometres from the then Kota Kinabalu Airport. The crash claimed the lives of 11 people, including Sabah's fifth Chief Minister Tun Fuad Stephens and six other state ministers. Those who perished were: Tun Fuad Stephens (Chief Minister), Datuk Salleh Sulong (State Finance Minister), Datuk Peter Mojuntin (Local Government and Housing Minister), Datuk Chong Tien Vun (State Works and Communication Minister), Datuk Darius Binion (Assistant Minister to Deputy Chief Minister), Datuk Wahid Peter Andu (Permanent Secretary to the State Finance Ministry), Dr Syed Hussein Wafa (Director of State Economic Planning Unit), Ishak Atan (Private Secretary to the then Federal Finance Minister Tengku Razaleigh Hamzah), Corporal Said Mohammad (bodyguard to Tun Fuad) and Captain Gandhi J. Nathan (pilot).
Daily Express
21-05-2025
- Sport
- Daily Express
Sook team is gong-beating champion
Published on: Wednesday, May 21, 2025 Published on: Wed, May 21, 2025 By: Marutin Ansiung Text Size: The Murut Sook A group. SOOK: The Murut Sook A group, which scored 89 per cent, emerged as the champion of the gong-beating competition held in conjunction with the district-level Kaamatan Festival at the town field, here, recently. The runner-up was Murut Bookan Tulid, who scored 83 per cent, followed by third and fourth places which went to Binuwou Laut and Malima Dusun Liwan, with 82 per cent and 77.5 per cent, respectively. Sook District Officer Caroline Benjamin Jiungan, who officiated the Sook Kaamatan traditional sports event, said the winning group is expected to represent the district at the State-level Kaamatan Festival to be held at Hongkod Koisaan, Penampang. She expressed hope that the winning team would enhance their training and preparation to deliver a strong performance at the State-level. * Follow us on our official WhatsApp channel and Telegram for breaking news alerts and key updates! * Do you have access to the Daily Express e-paper and online exclusive news? Check out subscription plans available. Stay up-to-date by following Daily Express's Telegram channel. Daily Express Malaysia
Malay Mail
07-05-2025
- Climate
- Malay Mail
Sabah floods: 647 remain sheltered in Sook, Beaufort
KOTA KINABALU, May 7 — A total of 647 flood evacuees from 204 families in Sabah are still being sheltered at four relief centres as of this morning. The Sabah Disaster Management Committee Secretariat, in a statement, said 325 people from 103 families are housed at two temporary relief centres in the Sook district — 208 at Dewan Sekolah Kebangsaan Pekan Keningau 2, and 117 at the Dewan Kampung Ansip Tengah. In Beaufort, 287 people from 88 families are being accommodated at the permanent relief centre (PPK) in Selagon, while 35 evacuees from 13 families are being housed at the Dewan Residensi PR1MA Woorford Estate. 'A total of 19 villages are still affected by the floods — nine in Sook and 10 in Beaufort,' read the statement. — Bernama
