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) has commenced broadcasting with NEXTGEN TV in Harrisburg, PA, marking its 17th market in 2021. The company plans to convert an additional 20 markets, aiming to reach 50% coverage of U.S. TV households by the end of 2022. NEXTGEN TV, utilizing ATSC 3.0 technology, offers superior audio and video quality. A BIA study suggests that datacasting services derived from this technology could generate up to $15 billion in broadcast revenue by 2030. Nexstar operates 199 TV stations, reaching approximately 39% of U.S. households.
Nexstar Media Group's stations in Springfield, Missouri, including KOLR, KSPR, KRBK, and KOZL-TV, have launched broadcasting using NEXTGEN TV, a cutting-edge digital technology based on ATSC 3.0. This upgrade enhances viewer experience with stunning video quality and improved audio features. The transition follows extensive planning and allows for advanced features like real-time Internet content integration. Currently operational in over 35 cities, this significant technology upgrade enables broadcasters to deliver superior quality content and emergency alerts.
Nexstar Media Group (NASDAQ: NXST) and FOX Television Stations (NASDAQ: FOXA) have launched NEXTGEN TV broadcasting on KTTV-TV, KCOP-TV, and KTLA-TV in Los Angeles, marking a significant upgrade in broadcast technology. This transition promises enhanced video and audio quality, with features such as 4K resolution and improved clarity. NEXTGEN TV aims to reach up to 45% of U.S. TV households by year-end and could potentially generate up to $15 billion in new revenue by 2030 through various applications.
NBC 5 Dallas-Fort Worth, a Nexstar Media Inc. subsidiary, is set to air "Lone Star NYE: Countdown to 2022" on December 31, 2021, from 11:30 p.m. to 12:30 a.m. CST. The event will feature a live countdown with performances by country music star Scotty McCreery. This year will include a unique 225-drone light show alongside traditional fireworks at the Dallas Reunion Tower. The broadcast will be available in 27 additional markets, showcasing quality family entertainment and benefiting Children's Health.
WXLV-TV, WGHP, WXII-TV, and WMYV have launched NEXTGEN TV in Greensboro, NC, utilizing ATSC 3.0 technology. This upgrade promises enhanced viewing experiences with vibrant visuals, improved sound quality, and advanced emergency alerts. The transition to NEXTGEN TV follows extensive development and aims to integrate more interactive content.
This service is already available in over 30 cities nationwide. Viewers without NEXTGEN compatible devices can simply rescan their TVs for uninterrupted service.
Charleston, WV's leading television stations, including WCHS-TV, WOWK-TV, WSAZ-TV, WQCW, and WVAH-TV, launched NEXTGEN TV, a cutting-edge digital broadcast technology. Following extensive planning, this upgrade utilizes ATSC 3.0 to enhance viewer experience with improved video quality and advanced emergency alerts. As of now, NEXTGEN TV is operational in over 35 cities nationwide, promising a more interactive viewing experience by integrating Internet content. Viewers can learn more about the service and compatible devices at WatchNextGenTV.com.
Nexstar Media Group has appointed David Hart as the new Vice President and General Manager of WSAV-TV in Savannah, Georgia. With over 30 years of experience, Hart has successfully increased audience size, revenue, and digital engagement at WRBL-TV. His leadership saw significant digital growth, with WRBL.com averaging over 750,000 unique visitors monthly. Hart's community involvement includes partnerships with local universities and leading charitable initiatives. He will report to Ron Romines, Senior Vice President of Nexstar's broadcasting division.
Nexstar Media Inc. has appointed Chris Cook as Vice President and General Manager of KLFY-TV and its digital operations in Lafayette, LA. Cook boasts over 20 years in broadcasting, previously serving in multiple roles at KLFY-TV and as Director of Sales at WISH-TV. His extensive experience includes driving advertising growth and digital content strategy. Cook returns to Lafayette, expressing confidence in leveraging Nexstar's resources to enhance local content and advertising solutions.
Nexstar Media Group, Inc. (NASDAQ: NXST) has appointed Larry Forsgren as Vice President and General Manager for WCIA-TV and WCIX-TV in Champaign-Springfield, Illinois. Forsgren brings over 25 years of broadcasting experience, having previously led KMTV-TV in Omaha, where he expanded local content and increased revenue significantly. His leadership is expected to enhance ratings and community connections at Nexstar's Illinois stations.
Nexstar Media Group reported strong third-quarter 2021 financial results, achieving net revenue of $1.16 billion, a 3.5% increase year-over-year. The company achieved operating income of $277.4 million and net income of $169.2 million. Adjusted EBITDA reached $410.4 million, with a 35.5% margin. Despite a 90.6% decline in political advertising revenue, core advertising grew by 13.3%. Nexstar returned $173.6 million to shareholders through buybacks and dividends. The company is optimistic about future revenue growth, especially in political advertising and digital platforms.
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