Nexstar Media Group Reports Record Fourth Quarter Net Revenue of $1,377 Million
Nexstar Media Group, Inc. (NASDAQ: NXST) (“Nexstar”) today reported financial results for the fourth quarter ended December 31, 2020 as summarized below. The actual results presented herein for the three months ended December 31, 2020 and 2019 reflect the full operations of both the Nexstar’s legacy broadcasting and digital operations and quarterly results from the Tribune Media stations which were acquired on September 19, 2019. Fourth quarter 2020 revenue from WGN America, also acquired in the Tribune transaction, is included in core advertising revenue and distribution fee revenue. The contribution from Nexstar’s
Summary 2020 Fourth Quarter Results and Full Year Highlights |
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Three Months Ended December 31, |
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Years Ended December 31, |
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($ in thousands) |
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2020 |
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2019 |
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Change |
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2020 |
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2019 |
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Change |
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Core Advertising Revenue |
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$ |
473,524 |
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$ |
525,458 |
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(9.9 |
)% |
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$ |
1,571,072 |
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$ |
1,335,126 |
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+17.7 |
% |
Political Advertising Revenue |
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$ |
298,270 |
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$ |
36,526 |
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+716.6 |
% |
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$ |
507,564 |
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$ |
51,889 |
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+878.2 |
% |
Total Television Advertising Revenue |
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$ |
771,794 |
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$ |
561,984 |
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+37.3 |
% |
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$ |
2,078,636 |
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$ |
1,387,015 |
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+49.9 |
% |
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Distribution Fee Revenue |
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$ |
527,986 |
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$ |
445,831 |
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+18.4 |
% |
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$ |
2,152,622 |
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$ |
1,368,881 |
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+57.3 |
% |
Digital Revenue |
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$ |
65,036 |
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$ |
74,310 |
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(12.5 |
)% |
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$ |
223,368 |
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$ |
241,519 |
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(7.5 |
)% |
Other Revenue |
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$ |
11,795 |
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$ |
17,965 |
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(34.3 |
)% |
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$ |
46,643 |
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$ |
41,909 |
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+11.3 |
% |
Net Revenue |
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$ |
1,376,611 |
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$ |
1,100,090 |
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+25.1 |
% |
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$ |
4,501,269 |
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$ |
3,039,324 |
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+48.1 |
% |
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Income from Operations |
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$ |
Nexstar Media Group Inc
NASDAQ:NXSTNXST RankingsNXST Latest NewsNXST Stock Data
4.96B
28.45M
6.64%
99.6%
6.71%
Broadcasting
Television Broadcasting Stations
United States
IRVING
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