politics
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Yup, extortion from a private citizen and 1st amendment violations from the FCC.
Not to mention both Sinclair and Nexstar are publicly traded companies. Surely getting involved in politics to the point where you are denying your viewership popular programing would eventually negatively affect shareholder value?
I think if I had shares in either of these companies I'd be questioning the leadership of the organization.
These are MAGA companies that have been slowly pushing more and more propaganda on to the public airwaves. They firmly believe that their viewer base won't be losing that many viewers and are counting on MAGA's, rightly so probably, to cover for the loss.
Nexstar already has an almost 40% reach across the US. They've been sucking up to Trump this year because they want to merge with TEGNA, which would give them access to 80% of the country. To do this though, regulations need to be dropped to allow them to exceed limits that have been in place for decades to prevent this level of media control. This is the quid-pro-quo for them, as Colbert was for the Paramount merger.
(Source)
Also could just be a general concept of investments... IE we lose 10 million here for canceling this show, we make 100 million in the merger we want to do next year.
It's a $6.2 billion merger between Nexstar and TEGNA that is at stake.