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Photo: Pavlo Gonchar/SOPA Images/LightRocket via Getty Images

Nexstar, the local broadcasting giant that recently bought The Hill for $130 million, is mounting an aggressive acquisition campaign, sources tell Axios.

Details: The company is going after smaller media companies that cover the three pillars of its content strategy: sports, news, and weather.

  • According to two sources familiar with the deal conversations, Nexstar is trying to invest in smaller companies across digital and audio that can help bolster the digital presences of its local TV stations.
  • One source called Nexstar "thirsty," given how aggressive it is being in pursuing full acquisitions over shared content and distribution partnerships.

The big picture: Many media companies are looking to grow in scale by acquiring smaller players, as doing so allows them to stay independent, instead of needing to be acquired or merge with another company.

  • Crain Communications, one of the largest privately held business media publishers, is eyeing several small-scale acquisitions, two sources tell Axios. The company is eyeing smaller, distressed assets that can help it scale across new verticals.
  • Ozy Media, executives told Axios last week, has named billionaire businessman Marc Lasry as its chairman. Lasry said he intends to use his existing relationships with firms like Goldman Sachs and Morgan Stanley to help the company do more deals.

Go deeper: GovExec completes 9th acquisition as revenues double

Go deeper

Sep 14, 2021 - Economy & Business

Exclusive: GovExec completes 9th acquisition as revenues double

Expand chart
Data: GovExec; Chart: Will Chase/Axios

GovExec, the media and insights company targeted to government leaders and contractors, is acquiring Market Connections, a government research and insights company, executives tell Axios.

Why it matters: It's the company's ninth acquisition since spinning off from Atlantic Media in March 2020.

Sep 14, 2021 - Economy & Business

Winklevoss twins back Payload, a new outlet covering business of space

Photo courtesy of Payload

Payload, a new digital media company focused on the business and policy of space, is hoping to bring more professional coverage to an industry that's growing very big, very fast.

Why it matters: For years, space coverage has focused on the consumer-facing spectacle of space travel instead of the business and societal implications of the industry.

11 mins ago - World

Trudeau's government projected to win Canada election

Canadian Prime Minister Justin Trudeau. Photo: Jeff Vinnick/Getty Images

Canadian Prime Minister Justin Trudeau's Liberal government has been reelected in the national election, the CBC and CTV News projected on Monday night.

Yes, but: "It's still too early to say whether it will be a minority or majority government," the Canadian Broadcasting Corporation reports.