Welcome to our dedicated page for Nexstar Media Group news (Ticker: NXST), a resource for investors and traders seeking the latest updates and insights on Nexstar Media Group stock.
Nexstar Media Group, Inc. (NASDAQ: NXST) is the largest television station owner-operator in the United States, reaching approximately 68% of U.S. TV households. With over 200 television stations in 116 markets, Nexstar has grown significantly from a single station to a national powerhouse in just 20 years. The company owns and operates media assets such as NewsNation, America's fastest-growing national cable news network, and a 75% stake in The CW, one of the nation's leading broadcast networks.
Nexstar's portfolio also includes affiliations with major broadcast networks like CBS, Fox, NBC, and ABC, making it a top affiliate for these networks. The company also holds a 31% stake in the Food Network and the Cooking Channel, further diversifying its media reach. Nexstar's digital operations are expanding as well, offering comprehensive local news and information through platforms like The Hill and NewsNationNow.com.
Recent achievements include a multi-year extension of an agreement with Nielsen to provide Local and National TV measurement services across Nexstar's media businesses. This agreement will help Nexstar leverage Nielsen's comprehensive suite of digital and TV measurement solutions, providing accurate audience insights and data-driven measurement.
Nexstar is committed to delivering exceptional service and unique local content to the communities it serves. The company’s ability to engage local audiences and offer targeted advertising solutions makes it a valuable partner for businesses and advertisers. With a strong financial position and a diversified portfolio, Nexstar continues to be a leading force in the media industry, driving innovation and growth across its platforms.
Nexstar Media Group (NASDAQ: NXST) and Altice USA (NYSE: ATUS) have announced a comprehensive partnership agreement, resulting in the immediate restoration of all Nexstar programming to Optimum TV customers. The service restoration affects approximately two million viewers, who will now have access to NFL playoff games and local news content. While the companies expressed gratitude to their customers for their patience during the negotiation process, the specific terms of the agreement were not disclosed.
Nexstar Media Group (NASDAQ: NXST) has announced it will release its 2024 fourth quarter financial results on Thursday, February 27, 2025. The company will host a conference call and webcast at 10:00 a.m. ET to discuss the results.
Interested participants can join via phone using the numbers +1 877-407-9208 (domestic) or +1 201-493-6784 (international) with conference ID 13751217. A live webcast will be available through Nexstar's website, with a replay accessible for 90 days following the event.
NewsNation has announced changes to its primetime programming lineup, effective February 10. 'On Balance' with Leland Vittert will move to 9 pm ET, while 'Elizabeth Vargas Reports' will shift to 7 pm ET. The network has also secured a multi-year contract renewal with Elizabeth Vargas.
Since its debut, 'On Balance' has shown significant growth, with a 270% increase in total viewers and over 500% growth among adults 25-54. Similarly, 'Elizabeth Vargas Reports', launched in Spring 2023, has experienced a 20% increase in total viewership since its premiere.
Both hosts have played important roles in NewsNation's coverage of major events, including the Ukraine war, Middle East conflicts, Israel-Hamas war, and the 2024 Presidential campaign. Together with Chris Cuomo, they co-anchored the network's 2024 election night coverage, where NewsNation became the first television network to project the presidential race winner.
Nexstar Media Group (NASDAQ: NXST) reported that Altice USA has removed 63 Nexstar television stations from its Optimum cable systems across 42 markets, affecting over two million viewers. The removal, effective at 5 p.m. ET, includes Nexstar's national cable news network, NewsNation.
The disruption impacts viewers' access to critical local news, NFL Playoffs, live sports, entertainment programming, and essential weather alerts. Despite Nexstar's attempts to negotiate since October, Altice has reportedly demanded special terms that Nexstar considers unreasonable and out of alignment with market standards.
According to Michael Biard, Nexstar's President and COO, this follows Altice's recent pattern, noting their previous removal of MSG Network. Biard acknowledged Altice's financial challenges with debt but criticized their approach of charging Optimum subscribers more while reducing services.
Nexstar Media Group (NASDAQ: NXST) and NBCUniversal have announced a multi-year renewal agreement to continue NBC Television Network affiliations in 33 markets across the U.S.
This renewal covers 29 stations owned by Nexstar, three owned by Mission Broadcasting, and one owned by White Knight Broadcasting. Collectively, these 33 stations reach over 14 million U.S. television households. Financial terms of the agreement were not disclosed.
EdgeBeam Wireless, a new joint venture formed by four major broadcasting groups (E.W. Scripps, Gray Media, Nexstar Media Group, and Sinclair), aims to provide nationwide wireless data services using ATSC 3.0 technology. The venture will leverage existing broadcast infrastructure to deliver data services across multiple industries.
The company targets three main markets with significant revenue potential: automotive connectivity ($3.7B/year), content delivery networks ($3.65B/year), and enhanced GPS ($220M/year). EdgeBeam will deliver data to any civilian or military device with an ATSC 3.0 receiver, including vehicles, drones, marine vessels, and mobile devices.
The partnership creates a nationwide spectrum footprint that individual broadcasters couldn't achieve alone, with plans to partner with additional broadcasters for expanded coverage. The service could also provide a backup to existing GPS capabilities, helping secure the U.S. economy.
NewsNation has announced a multi-year contract renewal with Chris Cuomo to continue hosting his primetime program 'CUOMO' weeknights at 8 p.m. ET. The show, which features news analysis, high-profile interviews, and viewer interaction through the 'Have Your Say with Chris' segment, has seen significant growth since its 2022 launch, with a 54% increase in total viewers and 28% growth among adults 25-54.
Throughout his career, Cuomo has conducted interviews with notable figures including Ukrainian President Volodymyr Zelensky, former President Barack Obama, and entrepreneur Mark Cuban. He has covered major events, hosting town halls on various topics and reporting from the frontlines in Israel and Ukraine.
Nexstar Media Group (NASDAQ: NXST) has announced its executive management's participation in two key investor conferences this December. The management will discuss their record financial performance in 2024, broadcast television's role in political advertising for the 2024 election, and potential ownership de-regulation opportunities.
The conferences include the BofA 2024 Leveraged Finance Conference in Boca Raton, FL on December 3, featuring EVP and CFO Lee Ann Gliha, and the UBS Global Communications Conference in New York on December 9, featuring Chairman and CEO Perry A. Sook alongside Gliha. A live webcast and replay of the UBS fireside chat will be available on Nexstar's website.
Nexstar Media Group (NASDAQ: NXST) has appointed Bill Sammon as Senior Vice President of Washington, D.C., Editorial Content for The Hill and NewsNation. Sammon, who brings nearly 40 years of journalism experience, will direct Nexstar's national news content in Washington, D.C., starting November 18. His extensive background includes roles as a war correspondent, White House correspondent, and most recently as Managing Editor and Senior Vice President of News at Fox News Channel. During the 2020 presidential election, he was first to declare Biden's victory in Arizona. He will report to Cherie Grzech, President and Managing Editor for News and Politics at NewsNation.
Nexstar Media Group (NASDAQ: NXST) reported record third quarter financial results with net revenue of $1.37 billion, up 20.7% year-over-year. The company achieved net income of $180 million and Adjusted EBITDA of $510 million. Distribution revenue reached $719 million, while advertising revenue hit $622 million, including $154 million in political advertising. The CW Network reduced operating losses by $36 million year-over-year. The company returned $233 million to shareholders through dividends and share repurchases, reducing shares outstanding by 3.1%. Nexstar maintained strong financial health with a first lien net leverage ratio of 1.91x and total net leverage ratio of 3.26x.
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