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) will have its President, Tom Carter, and CFO, Lee Ann Gliha, participate in the BofA Securities Media, Communications and Entertainment Conference on September 7, 2022, at 1:10 p.m. PT (4:10 p.m. ET). The event will feature a fireside chat and a Q&A session. Interested parties can access a live webcast and replay through the Investor Relations section of Nexstar's website. This participation highlights Nexstar's significant media presence, including 200 stations nationwide and its rapidly growing cable network, NewsNation.
The Hill, a prominent source of political and policy news, has launched its first OTT streaming channel, The Hill TV, part of Nexstar Digital. This channel features signature shows, exclusive interviews, and thematic series aimed at providing unbiased political information. The Hill TV debuted on the Plex platform, which boasts over 50,000 titles and significant international reach. This launch aims to enhance The Hill's visibility and engagement among digital consumers, especially in an era of media polarization.
Nexstar Media Group (NASDAQ: NXST) reported record Q2 2022 results, achieving net revenue of $1.25 billion, up 10% year-over-year. Key highlights include net income of $226.5 million and adjusted EBITDA of $486.3 million. The company significantly increased political advertising revenue by 920% to $86.7 million. Free cash flow was reported at $219 million, with a remarkable return of capital to shareholders reaching $284.3 million. Nexstar anticipates continued growth amid strong political advertising and renewed distribution agreements, reaffirming an annual free cash flow target of $1.4 billion.
Nexstar Media Group has announced the extension of CEO Perry A. Sook's employment agreement through March 31, 2026. Under Mr. Sook's leadership since 1996, the company has grown from approximately
Nexstar Media Group (NASDAQ: NXST) declared a quarterly cash dividend of $0.90 per share, payable on August 25, 2022. The company also approved a new share repurchase program, allowing for $1.5 billion in stock buybacks, supplementing the remaining $415.1 million from a previous program. Furthermore, Nexstar's Board recommended declassifying the Board of Directors, pending shareholder approval at the 2023 Annual Meeting. CEO Perry A. Sook emphasized these actions are aimed at enhancing shareholder value.
NewsNation announced that Chris Cuomo, an award-winning journalist, will host a new prime-time show this fall. Mr. Cuomo, known for his work at CNN, will enhance NewsNation's commitment to unbiased news reporting. With over two decades of experience, he aims to foster conversations around common concerns rather than political divisions. Sean Compton, President of Networks for Nexstar Media, emphasized Cuomo's addition as a step towards furthering fairness and transparency in news. NewsNation, owned by Nexstar Media Group (NXST), reaches 75 million U.S. households.
Nexstar Digital has partnered with Teads to enhance digital advertising capabilities across its 125 websites and 239 mobile apps. This partnership focuses on delivering Teads' inRead advertising technology, allowing Nexstar to improve video and display ad monetization and increase its online inventory. The agreement aims to create a diversified revenue stream through enhanced user engagement and high-quality ads without compromising user experience. Both companies express optimism about the partnership's potential benefits for advertisers and audiences.
Nexstar Media Inc. promotes Cory Gylock to Vice President and General Manager of
He will report to
Nexstar Media Inc. has appointed Brandin Stewart as Senior Vice President and Regional Manager, effective July 20. Stewart, who has nearly 20 years of experience in large market broadcasting, will oversee the company's television stations and digital operations across various markets from Irving, TX. Previously, he served as President and General Manager of CBS 3 in Philadelphia, where he enhanced ratings and revenue. Stewart aims to uphold Nexstar's commitment to local news and innovative advertising solutions.
FAQ
What is the current stock price of Nexstar Media Group (NXST)?
What is the market cap of Nexstar Media Group (NXST)?
What is Nexstar Media Group, Inc.?
What networks are affiliated with Nexstar Media Group?
What digital platforms does Nexstar operate?
What recent achievements has Nexstar accomplished?
How does Nexstar support local communities?
What is the significance of Nexstar's agreement with Nielsen?
How has Nexstar grown over the years?
What is NewsNation?
What stake does Nexstar have in the Food Network?
How many U.S. TV households does Nexstar reach?
