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.
Sinclair Broadcast Group announced the launch of NextGen TV, a new digital broadcast technology, across five Albany stations including WTEN (ABC), WRGB (CBS), WXXA-TV (FOX), WCWN (CW), and WMHT (PBS). This upgrade, based on ATSC 3.0, promises improved video quality with vibrant colors and enhanced audio, designed to enhance viewer experience. The transition marks a decade of development and aims to reach audiences across more than 40 cities. Viewers can rescan their TVs for uninterrupted service as the rollout continues.
Nexstar Media Group, Inc. (NASDAQ: NXST) will report its 2022 first quarter financial results on May 10, 2022. A conference call and webcast will be held at 10:00 a.m. ET to discuss these results. Callers can join by dialing 929-477-0402 with conference ID 5317616. The event will also be accessible via a live webcast on Nexstar's website, with a replay available for 90 days post-event.
Nexstar is a leading media company, owning 200 stations across 116 U.S. markets and reaching 212 million people.
Nexstar Digital has achieved a top 25 ranking in Comscore, reaching 48% of the U.S. digital audience. In January 2022, unique users to its sites jumped over 45% year-over-year to 133 million, generating 820 million page views. The growth has been consistent with seven straight months of at least two million additional unique users. Nexstar Digital ranks #7 in the News and Information category, leading local news with 80% more users than competitors. The acquisition of The Hill has contributed to this rise, showcasing the firm's commitment to delivering reliable news content.
Nexstar Media Group (NASDAQ: NXST) announced the appointment of Klarn DePalma as Senior Vice President of Group Sales and Sponsorships, effective April 1. DePalma brings over 25 years of experience in broadcasting, previously serving at Meredith Corporation, where he achieved significant revenue growth and profitability gains. His past roles include overseeing targeted media services and leading national sales efforts, generating over $200 million in national sales. DePalma's expertise is expected to enhance Nexstar's sales strategy across its extensive broadcast and digital portfolio.
NewsNation, owned by Nexstar Media, is set to expand its programming with an additional 12 hours of live news weekly by June. This expansion will increase original programming from 21 hours to 61 hours each week. Changes include a new 11 PM weeknight newscast, extending weekend evening broadcasts to three hours, and an enhanced morning news block that will now feature four hours daily. These efforts are aimed at providing continuous, unbiased news coverage, especially regarding significant global events like the ongoing war in Ukraine.
Charleston's major TV stations have launched broadcasting with NextGen TV, a new digital technology, enhancing viewer experience with improved video quality and sound. The participating stations include WCIV, WCSC-TV, WTAT-TV, WCBD-TV, and WGWG. This upgrade utilizes ATSC 3.0 technology, allowing for advanced features such as enhanced emergency alerts and internet content integration. The initiative, a decade in the making, follows successful launches in over 40 cities nationwide. Viewers can rescan their TVs for uninterrupted service.
Nexstar Media Group (NASDAQ: NXST) will participate in the Deutsche Bank 30th Annual Media, Internet and Telecom Conference on March 14, 2022, in Palm Beach, FL. Key executives, including CEO Perry A. Sook, COO Thomas E. Carter, and CFO Lee Ann Gliha, will present at 9:35 a.m. ET. A live webcast and replay of the presentation will be accessible via the Investor Relations section on Nexstar's website. Nexstar is a leading diversified media company operating 200 owned or partner stations and delivering over 283,000 hours of original video content annually.
Nexstar Media Group reported Q4 2021 results, with net revenue of $1.25 billion, down 9.5% from Q4 2020. Core advertising revenue grew by 4.3%, while political advertising revenue plummeted 93.7% year-over-year. Adjusted EBITDA was $496 million, a 39.8% margin, and free cash flow reached $327 million. For the 2022/2023 cycle, Nexstar projects annual free cash flow of approximately $1.40 billion. The company returned $162 million to shareholders through dividends and stock buybacks, and increased its dividend by 29% to $0.90 per share.
Nexstar Media Group has appointed Jay Howell as Vice President and General Manager of KLAS-TV and 8Newsnow.com in Las Vegas. Howell brings over 20 years of media leadership experience, having previously managed CBS-affiliated stations in major markets. His role includes overseeing local broadcasting and digital operations, with an emphasis on enhancing content and community engagement. Howell aims to leverage Nexstar’s local strategies and innovative advertising solutions to drive growth for KLAS-TV in the competitive Las Vegas market.
Nexstar Media Group (NASDAQ: NXST) announced a proposal to eliminate its Class B and Class C Common Stock, pending shareholder approval at the June 2022 Annual Meeting. Currently, only Class A shares exist, with about 41 million shares outstanding as of November 2021. This move aims to enhance corporate governance and align the interests of all shareholders. The Board also recently announced a 29% increase in the quarterly cash dividend to $0.90 per share of Class A. The preliminary proxy statement for the meeting is expected in April 2022.
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