Nexstar Media is making changes to its ad packaging strategy by eliminating the chief revenue officer position. The company announced in a filing with the U.S. Securities and Exchange Commission that it is opting for a more streamlined organizational structure, with the current chief revenue officer, Michael Strober, expected to leave Nexstar on October 30.
In a statement, Nexstar confirmed Strober’s departure and thanked him for his leadership and service. During his time as chief revenue officer, Strober focused on showcasing Nexstar’s reach in both national and local media, highlighting the company’s broad entertainment and sports programming on its CW network, news coverage on NewsNation, and diverse audiences across different regions tuning in to its local stations.
Despite the changes in leadership, Nexstar’s ad revenue saw a modest increase of 2.2% during the second quarter, totaling $522 million. Strober, who took on the chief revenue officer role in late 2022, brought with him years of experience as a senior ad-sales executive at major media companies. Prior to joining Nexstar, he served as an executive vice president at Turner, the TV unit of WarnerMedia, and later founded Topwater Advisory Group to assist companies in navigating the evolving advertising landscape.
Strober’s departure is part of a trend in the industry, with other media companies also making changes to their sales leadership. Warner Bros. Discovery recently announced the departure of its U.S. ad sales chief, Jon Steinlauf, while Netflix parted ways with senior ad sales executive Peter Naylor earlier this year during upfront sales negotiations.
As Nexstar continues to evolve its ad packaging strategy, more updates and developments are expected in the future. Stay tuned for further announcements from the company.
