Mike Stave, the former CEO of local television station Group Tegna, resigned in March when Nexstar announced it had struck a deal with a smaller rival.
However, the Nexstar and Tegna merger is currently embroiled in antitrust complaints from state attorneys general and DirecTV, and Tegna has appointed a new CEO to run the company for the time being. Patrick Paolini will become Tegna’s chief executive officer on June 1. He will be responsible for Tegna’s day-to-day operations, revenue-generating business strategy, local journalism and production, and growth initiatives.
Tegna describes itself as a “wholly-owned subsidiary of Nexstar Media Group, and currently operates independently from Nexstar due to an April 17 “Suspension of Separation Order” issued by the U.S. District Court for the Eastern District of California. The FCC and the Department of Justice’s antitrust division have both approved Nexstar’s $6.2 billion acquisition of Tegna. A federal district court is currently considering state AG’s and DirecTV’s arguments regarding the Nexstar and Tegna merger. violates antitrust laws by merging two of America’s largest local TV station owners, allowing them to reach 80% of American TV households.
Tegna operates 64 local television stations in 51 markets in the United States, and Nexstar owns or operates 265 television stations in 132 markets.
Paolini most recently worked at Fox Television Networks, where he will serve as vice president of advertising sales starting in 2023. Previously, since 2013, he served as SVP and General Manager of WTTG FOX 5 and WDCA FOX 5 Plus, a duopoly owned and operated by Fox in Washington, DC. Earlier in his career, he served as Vice President and General Manager at WTXF FOX 29 in Philadelphia, where he also served as Vice President and Director of Sales. WNYW FOX 5 and WWOR My9, New York’s Fox stations.
“Patrick is the ideal person to lead Tegna,” the company’s board said in a statement. “He brings deep expertise in the broadcast television industry, managing major market stations and quality local news, as well as a track record of driving revenue growth across linear and digital platforms. He is an innovative thinker and a proven leader with an established history of success. We look forward to Patrick’s leadership at this great company.”
“I have tremendous respect for the Tenia brand, the great local news delivered across 64 local television stations and hundreds of digital platforms, and the company’s dedicated employees and local journalists,” said Paolini. “Tenia remains committed to delivering the excellent service that our viewers, advertisers and communities expect, while continuing to innovate and expand across the platforms that define the modern media landscape. I’m excited about the opportunities ahead.”
