Nexstar Media Group, Inc. - NXST STOCK NEWS

Nexstar Media Group (NASDAQ: NXST) announced that its broadcasting division received 47 regional Edward R. Murrow Awards, recognizing local news excellence. The awards highlight achievements in categories like Overall Excellence, Best Newscast, and Breaking News Coverage. Key stations such as KOIN-TV and KXAN-TV led with multiple awards. Tim Busch, Nexstar’s President, emphasized the company's commitment to local journalism, producing over 270,000 hours of content annually, while also noting awards for diversity and inclusion coverage.

Nexstar Media Inc. has announced that veteran journalist Leland Vittert will join its cable network NewsNation as an anchor/correspondent starting May 17, 2021. Vittert, who previously worked at Fox News Channel, will initially cover national affairs and deliver special reports across NewsNation's prime-time newscasts, eventually anchoring a new national broadcast. His extensive experience includes reporting significant events such as the Arab Spring and domestic protests. Nexstar emphasizes Vittert's commitment to providing unbiased news.

Nexstar Media Group reported its Q1 2021 financial results, showing a net revenue of $1.1 billion, a 2% year-over-year increase. Core advertising revenue slightly fell by 1.4%, while political advertising plummeted by 90.2%. Distribution fee revenue rose by 13% to $621.2 million, and digital revenue grew by 18% to $66.4 million. The net income increased by 26.3% to $199.2 million. Free cash flow before one-time expenses reached $484.6 million, a 12.6% rise. Nexstar aims for continued growth in non-political revenue sources and plans to prioritize shareholder returns through dividends and share repurchases.

Nexstar Media Inc. has announced the promotion of Andrew Alford to President of Broadcasting, effective June 1. He will oversee operations for 198 television stations and their digital properties, succeeding Tim Busch, who retires May 31. Alford, who joined Nexstar in 2017, has a proven track record in revenue growth and operational efficiency. The company emphasizes a strategy of appointing leaders with strong performance records to ensure continued success in local broadcasting, digital media, and operational management.

Nexstar Media Group has declared a quarterly cash dividend of $0.70 per share for its Class A common stock, payable on May 28, 2021, to shareholders of record as of May 14, 2021. The company aims to continue paying regular dividends, but future amounts will be subject to quarterly review by the Board of Directors. Nexstar operates 198 television stations across the U.S., reaching approximately 39% of television households, and also runs a digital division with 120 local websites and 284 mobile apps.

Nexstar Media Inc. announced the launch of Rewind TV, a digital subchannel featuring classic sitcoms from the 1980s and 1990s, set to debut on September 1, 2021. At launch, Rewind TV will reach approximately 50 million U.S. households, including major cities like New York, Los Angeles, and Chicago. Initial programming will include titles such as The Drew Carey Show and Murphy Brown. The new channel aims to attract Gen X viewers, complementing the existing Antenna TV, which caters to Baby Boomers.

Nexstar Media Group announces that veteran journalist Adrienne Bankert joins NewsNation as an anchor and correspondent. Bankert, known for her unbiased reporting, will cover national affairs and deliver special reports on prime-time broadcasts. She will later anchor a new national newscast as part of NewsNation's expansion to enhance programming. Bankert's notable past includes her work at ABC News, covering significant national stories and celebrities. Her addition aims to strengthen the network's commitment to unbiased journalism, meeting the demand for trustworthy news.

Nexstar Media Group (NASDAQ: NXST) will announce its 2021 Q1 financial results on May 4, 2021, before market opening. A conference call is scheduled for 9:00 a.m. ET the same day to discuss the results. Interested participants can join the call at 334-777-6978, with conference ID 8536212. A live webcast will also be available through the company's website, with a replay accessible for 90 days. Nexstar operates 198 TV stations reaching 39% of U.S. households and runs digital platforms including 122 local websites and 316 mobile apps.

Nexstar Inc. announces the launch of its ‘Remarkable Women’ initiative, celebrating Women’s History Month and International Women’s Day. Beginning March 9, the program will showcase local women honored for their influence in community and policy. Nearly 10,000 nominations were received across 113 markets, with profiles airing on local Nexstar stations until March 30. A virtual telecast on April 10 will name the ‘Nexstar Woman of the Year,’ with a $5,000 donation to her charity. The initiative underscores Nexstar's commitment to community recognition and engagement.