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.
WHAM-TV, WROC-TV, WUHF, and WXXI-TV launched NextGen TV broadcasting in Rochester, featuring ATSC 3.0 technology. This upgrade promises enhanced viewing with improved video quality, advanced emergency alerts, and options for live content integration. The stations assure that existing digital broadcast services remain unaffected, with no action needed for cable or satellite subscribers. BitPath coordinated the initiative, and NextGen TV is set to enhance local broadcasting by adding new services and improving viewer experience throughout the Rochester area.
The CW Network has signed a multi-year agreement with YouTube TV to continue broadcasting its CW-affiliated television stations nationwide. While financial terms remain undisclosed, this partnership is set to enhance The CW's content offerings, which will include new sports programming and prime-time shows starting this Fall. President Dennis Miller expressed optimism about expanding their audience through this collaboration. With 29 CW-affiliated stations, Nexstar Media Group, which owns 75% of The CW, plays a significant role in this arrangement, allowing millions of YouTube TV subscribers to enjoy popular shows and local news content.
Nexstar Media Group has secured a multi-year distribution agreement with YouTube TV to launch 59 stations, including 29 CW-affiliated and 26 MyNetworkTV affiliates. This deal extends YouTube TV's offerings to feature Nexstar's CBS-affiliated stations and the rapidly growing news network, NewsNation, known for programs like 'Cuomo' and 'Dan Abrams Live.' This partnership aims to enhance the availability of local news and entertainment content for subscribers and is aligned with NewsNation's expansion into 24-hour news programming. Financial terms were not disclosed.
Nexstar Media Group (NXST) reported record financial results for Q4 and full year 2022. Q4 consolidated net revenue reached $1.49 billion, up 19.3% year-over-year, driven by political advertising revenue of $265.9 million, increasing by 1,306.9%. Full year revenue exceeded $5.2 billion, reflecting a 12.1% growth. Adjusted EBITDA for Q4 was $598.2 million, with an impressive margin of 40.2%. The company also returned $293.3 million to shareholders in Q4, marking a total of $1.02 billion for the year. Looking ahead, Nexstar expects average annual attributable free cash flow of $1.25 billion for the 2023/2024 period, despite anticipated losses from The CW Network.
Nexstar Media Group (NASDAQ: NXST) will participate in the Morgan Stanley Technology, Media & Telecom Conference on March 7, 2023, at 12:55 p.m. PT (3:55 p.m. ET). President Tom Carter and CFO Lee Ann Gliha will be featured in a fireside chat, which will include a question-and-answer session.
A live webcast and replay of the event will be available on Nexstar's Investor Relations section of their website. This engagement underscores Nexstar's commitment to transparency and investor relations.
Nexstar Media Inc. has appointed Joe Ruffolo as Senior Vice President and General Manager for The Hill and NewsNation Digital, effective March 6. This newly created role aims to oversee long-term strategy and daily operations as Nexstar realigns its digital news platforms, integrating The Hill into the Networks Division. The Hill will also launch a weekly news analysis program on NewsNation later this spring. Ruffolo's extensive media background includes roles in major organizations such as Disney and CNN.
NewsNation is recognized as the fastest-growing national cable news network in the U.S., reaching 70 million households.
Nexstar Media Group (NASDAQ: NXST) has announced a 50% increase in its quarterly cash dividend to $1.35 per share, starting with the first quarter of 2023. The dividend will be payable on February 24, 2023, to shareholders of record on February 10, 2023. This increase marks the tenth consecutive annual cash dividend increase and reflects the company's confidence in its ability to generate significant free cash flow. The company continues to prioritize returning capital to shareholders while also focusing on share repurchases and debt reduction.
Nexstar Media Group, Inc. (NASDAQ: NXST) announced it will release its 2022 fourth quarter and full year financial results on February 28, 2023. A conference call to discuss these results will be held at 10:00 a.m. ET on the same day. Interested parties can join by dialing +1 877-407-9208 for domestic calls or +1 201-493-6784 for international calls, using conference ID 13735877. A live webcast will also be available on the Nexstar website, with a replay accessible for 90 days post-event. Nexstar operates nearly 300,000 hours of original content annually and owns 200 broadcasting stations, reaching over 212 million viewers across the U.S.
Nexstar Media Group, Inc. (NASDAQ: NXST) will unveil a new investor presentation on January 31, 2023, at 10:00 a.m. ET. A conference call and webcast will accompany the presentation, accessible via the company's Investor Relations page. Participants can join by calling 1-877-407-9208 or 1-201-493-6784, using the conference ID 13735999. Nexstar operates a vast broadcasting network and digital assets, reaching 212 million people across 116 U.S. markets. The company offers premium advertising opportunities leveraging its engaging content.
The CW Network has secured a multi-year agreement as the exclusive U.S. broadcast partner for LIV Golf, beginning with the 2023 season. This partnership allows The CW to air 14 live events and stream them via The CW App, enhancing access for fans. The inaugural event is set for February 24-26 in Mexico. LIV Golf aims to modernize professional golf with innovative formats and a star-studded lineup, including players like Dustin Johnson and Phil Mickelson. The league is promoting a $405 million prize purse across its events, indicating substantial financial stakes and audience engagement.