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 renewed CW network affiliations in 37 markets, including five top-10 markets, covering over 31% of the U.S. audience. This renewal strengthens Nexstar's significant presence in local broadcasting, reaching more than 38 million households. Tom Carter, Nexstar's COO, highlighted the value this partnership brings to both viewers and advertisers. With successful scripted series and a diverse programming lineup, Nexstar aims to enhance viewer engagement and provide an effective advertising platform.
Nexstar Media Inc. appointed Michael Corn as President of News for NewsNation, tasked with overseeing news programming and strategy. Corn, former Senior Executive Producer of ABC News' 'Good Morning America', brings over 25 years of experience in news. Under his leadership, 'GMA' earned multiple Emmy Awards, while Corn has previously produced award-winning evening news broadcasts. He emphasized NewsNation's potential, citing access to extensive journalistic resources. The move aims to enhance NewsNation's mission of providing unbiased news to a national audience, reaching 75 million households.
Nexstar Media Inc. has appointed Jim Rose as Vice President and General Manager of its San Francisco operations, effective May 17. Rose, with over 30 years of experience in broadcast management, previously led KING 5 Media Group in Seattle. His leadership is expected to enhance revenue growth through innovative marketing strategies and strengthen local content creation. Nexstar’s San Francisco platforms produce over 122 hours of local content weekly. The company operates numerous digital platforms, providing a strong backbone for advertising solutions to local businesses.
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.
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?
