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Stock impact report

Job losses, falling ratings, consolidation: What's behind the decline in local TV news [Los Angeles Times (CA)]

Nexstar Media Group, Inc. (NXST) 
Last nexstar media group, inc. earnings: 2/26 07:04 am Check Earnings Report
Streaming now accounts for half of all viewing, pulling ad dollars and audiences away from traditional TV and forcing stations to cut costs. TV station owners are pushing to consolidate and investing in cheaper streaming news formats to adapt to changing viewer habits. Ellina Abovian, a veteran correspondent for KTLA-TV, was recently on assignment covering a story about Los Angeles International Airport when she received a message that every media business professional dreads. She was asked to see her boss at the station when she was done. At the meeting, she was told she would be losing her job after 11 years. “I was totally blindsided,” said Abovian, 40. “There was no indication.” The Glendale native was among several longtime KTLA personalities who were laid off amid a wave of cuts at outlets owned by Nexstar Media Group in Los Angeles and other cities. They included midday anchors Glen Walker and Lu Parker along with veteran meteorologist Mark Kriski, who first joined t Show less Read more
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