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 a diversified media company active in television broadcasting and digital news, and it generates a steady flow of corporate, programming, and regulatory news. As America’s largest local television broadcasting group, Nexstar frequently reports on developments affecting its more than 200 owned or partner stations in 116 U.S. markets, as well as its national properties such as The CW, NewsNation, Antenna TV and Rewind TV.
News about Nexstar often includes quarterly and annual financial results, with the company issuing earnings press releases and hosting conference calls and webcasts to discuss performance, cash flows, and non-GAAP metrics like Adjusted EBITDA and Adjusted Free Cash Flow. Investors also see regular announcements about dividends, capital allocation decisions, and financing activities, such as refinancings of credit facilities and term loans disclosed in Form 8-K filings.
Nexstar’s news flow also covers strategic transactions and regulatory milestones. A key recent theme is the company’s Agreement and Plan of Merger with TEGNA Inc., including updates on antitrust and Federal Communications Commission reviews and expectations around the transaction’s timing, all detailed in SEC filings and press releases.
From a content perspective, Nexstar issues updates on programming and partnerships, including expansions of sports coverage on The CW, content collaborations like the gaming-focused vodcast series with Xsolla on NewsNation, and programming decisions involving its network-affiliated stations. The company also highlights recognition for its journalism, such as awards for NewsNation and local stations.
This news page aggregates these types of updates so readers can follow Nexstar’s financial reporting, corporate actions, programming initiatives, and regulatory disclosures in one place. For investors, media observers, and viewers interested in the evolution of local and national television and digital news, the NXST news feed provides an organized view of the company’s ongoing developments.
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.
Nexstar Media Group, Inc. (NASDAQ: NXST) has promoted Dana Zimmer to President of Distribution, effective immediately. Since joining in 2019, Zimmer has expanded the distribution of Nexstar's extensive broadcast portfolio, which includes 199 local television stations covering 39% of U.S. households. She has successfully negotiated retransmission consent agreements and partnerships with major networks. CEO Perry Sook commended her contributions, noting the growth in retransmission and carriage revenues under her leadership. Zimmer expressed gratitude and optimism for further expansion opportunities.
Nexstar Media Group declared a quarterly cash dividend of $0.70 per share, payable on November 29, 2021, to shareholders recorded by November 12, 2021. The board will continue to review dividends quarterly, maintaining discretion in declarations.
Nexstar operates 199 television stations across 116 markets, reaching 39% of U.S. TV households. Its divisions include Broadcasting, Digital, and Networks, providing extensive media services and local content.