Nexstar Media Group has named Fox distribution head Mike Biard as president and chief operating officer, effective August 21, 2023.
As Biard’s successor, Fox promoted David Espinosa to president of distribution.
At Nexstar, Biard succeeds Thomas Carter, who was named senior adviser and will stay with the company through the end of the year when his employment contract expires.
Hiring Biard spotlights the importance of growing retransmission revenue for Nexstar at a time when the television industry is in flux. He reports directly to Nexstar founder and CEO Perry Sook.
Biard spent 23 years with Fox, most recently as president, operations and distribution, overseeing multiplatform content distribution, distribution strategy, affiliate marketing and affiliate-related business affairs.
“Michael is a talented, innovative, and deeply experienced media executive who will be a great leader for Nexstar and the senior management team as we chart the future of the company,” Sook said. “The board of directors and I are confident that his vision and judgment will be invaluable as we continue maximizing Nexstar’s shareholder return by furthering the growth of our national brands and audiences, enhancing the value of our spectrum through the additional deployment of ATSC 3.0, and strategically targeting accretive mergers and acquisitions.”
Before joining Fox, Biard was an attorney.
“Perry, Tom, and the Nexstar Nation have created a company with extraordinary scale and unparalleled financial performance,” Biard said. “Nexstar has built a true media powerhouse, with respected national brands like The CW Network, NewsNation, The Hill and local television stations reaching 68% of the country with high-quality local news and programming. This impressive foundation consistently returns value to Nexstar shareholders, delivering more free cash flow than many older, larger competitors.
“Nexstar’s strategic approach and disciplined execution will enable further growth and expansion, and I am eager to help lead the way forward,“ Biard continued. ”I am grateful to Perry, Tom, and the Board for this opportunity, and I want to express my profound appreciation to my colleagues and close friends at Fox, especially Lachlan Murdoch and John Nallen, for allowing me to pursue it.“
Carter joined Nexstar as chief financial officer in 2009 and was promoted to president and COO in 2020.
“Tom Carter has been a tremendous partner since joining Nexstar, overseeing a period of unprecedented growth and expansion for the company,“ Sook said. “We are fortunate that Nexstar will continue to benefit from Tom’s knowledge and expertise as he helps Michael transition into his new role.”
Espinosa had been executive VP, distribution strategy and business affairs at Fox. He will report to Fox chief operating officer John Nallen and be responsible for multiplatform distribution of all of Fox’s brands, including Tubi, and will work with the Fox affiliated stations.
“We want to thank Mike for his meaningful contributions to Fox throughout his time with us and wish him continued success in his next chapter,” John Nallen said. “David has been a valued member of the Fox team for seventeen years, and we are confident that his leadership and strategic insight will provide a seamless transition for the distribution team and our partners.”
Espinosa joined Fox in 2006. He was named executive VP in 2018.
“It’s an honor to have the opportunity to lead such an impactful aspect of the Fox business,” Espinosa said. “The team and I look forward to continuing to work with our partners throughout the industry as we provide premium value through our defining news, sports and entertainment content as only Fox can.”
