Pros
They do like to move people around within the company so you can advance up the ladder through their stations. If you're young they turned a significant chunk of the 401k to stocks so I cashed it out and had a nice chunk of change. Might stink if you're older nearing retirement though and those stocks go south.
Cons
Where to begin? Pay is awful. Technology is awful. Every one of their websites is the same bland and generic look. Their stations all have the same taglines. People are depressed and they routinely have pay freezes and hiring freezes. And if they buy your station get the resume ready because layoffs are coming. They'll run the station on damn near nothing though they have plenty of money and whine when they have to pay for things like new or broken equipment. Their no-compete clauses are over the top and total wage suppression. Horrible culture all around but can't say it's any different at Nexstar or Sinclair (probably worse there). This is what happens when only a few companies own ALL the stations.