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’s cable network, NewsNation, launches its new branding with an expanded programming lineup aimed at delivering unbiased news. The schedule includes four distinct shows, such as NEWSNATION EARLY EDITION and THE DONLON REPORT, broadcasting from 6 to 11 p.m. ET. President Sean Compton emphasizes the network’s commitment to factual reporting and leveraging Nexstar's extensive network of journalists to enhance coverage. NewsNation, formerly WGN America, reaches 75 million households, aiming to be a key player in the national news landscape.
Nexstar Media Group (NASDAQ: NXST) announced the retirement of Timothy C. Busch, President of Broadcasting, effective June 1, 2021, after 36 years in the broadcast industry. Busch has held numerous roles at Nexstar since joining in 2000, contributing to the expansion of the company’s television station group and digital offerings. The company's leadership expressed gratitude for his contributions, stating that Nexstar is well-positioned for future growth with a strong executive team in place. The search for Busch's successor will begin immediately.
Nexstar Media Group's cable network, NewsNation, is set to launch its flagship news and talk show, BANFIELD, on March 1st at 10 p.m. ET. Hosted by Ashleigh Banfield, the show will feature in-depth interviews with high-profile guests, including filmmaker Aaron Sorkin and actors Bryan Cranston and Robin Wright. This launch is part of a broader programming expansion that includes two other shows. NewsNation reaches 75 million households and aims to provide unbiased news, drawing on the expertise of 5,400 local journalists across the U.S.
Nexstar Media Group (NASDAQ: NXST) announced its fourth-quarter financial results for 2020, showcasing a 25.1% increase in net revenue, reaching $1.38 billion. Core advertising revenue saw a 9.9% decline, totaling $473.5 million, while political advertising surged by 716.6% to $298.3 million. Total television advertising revenue rose 37.3%, driven by strong political ad sales. Distribution fee revenue grew 18.4% to $528 million, but digital revenue fell 12.5%.
The results reflect Nexstar's continued integration of Tribune Media stations.
Nexstar Inc. announced the promotion of Chris McDonnell to Vice President and General Manager of its New York City operations, including WPIX-TV and PIX11.com, effective immediately. Previously, McDonnell led KRON-TV in San Francisco, increasing morning news ratings by 50% and doubling the 10 p.m. newscast viewership. His notable achievements also include launching KRONOn.TV and enhancing local sports programming. McDonnell aims to build on WPIX-TV's legacy as the home of the Yankees and Mets, focusing on community engagement and growth.
Nexstar Media Group (NASDAQ: NXST) reported record growth in its digital network for 2020, achieving #1 local news rankings every month. The network averaged 91 million unique monthly users, a 70% year-over-year increase. Key performance metrics included 7.8 billion pageviews and 10.4 billion multiplatform minutes, both up over 130% from 2019. The digital network also generated 1.6 billion video views. President Karen Brophy highlighted a successful audience and content strategy post-Tribune Media acquisition, emphasizing the importance of local news amid increased engagement.
Nexstar Media Group has announced a 25% increase in its quarterly cash dividend to $0.70 per share, effective from Q1 2021. The dividend is payable on February 26, 2021, to shareholders of record as of February 12, 2021. Additionally, the Board approved a new $1.0 billion share repurchase program to enhance shareholder value, reflecting the company's strong free cash flow. This program supplements the remaining $259.2 million from the previous buyback authorization. CEO Perry Sook emphasized the company's commitment to reducing leverage and returning capital to shareholders.
Nexstar Media Group (NASDAQ: NXST) announced the appointment of Bernadette S. Aulestia to its Board of Directors, effective January 27. Aulestia, with over 20 years of experience, previously served as President of Global Distribution at HBO. She will contribute her expertise in marketing strategy and audience development, aiming to enhance Nexstar's growth and shareholder value. Aulestia will also be part of the Board's compensation committee and is expected to stand for election at the 2022 annual meeting.
Nexstar Media Group announced that its cable network WGN America will rebrand as NewsNation on March 1, expanding news programming to five hours on weeknights. New shows include NewsNation Early Edition and The Donlon Report, aimed at delivering fact-based news. NewsNationPrime will cover prime-time news from 8-10 p.m. ET. The rebranding reflects a commitment to unbiased journalism, enhancing the network's reach to over 75 million U.S. households and extending its news coverage. This change follows a recent expansion to an additional 8.5 million households.
Nexstar Media Group (Nasdaq: NXST) has launched a multi-year partnership with Feeding America, committing $2 million in air-time and financial support over three years to combat hunger across the U.S. This initiative is vital as food insecurity rates soar, with Feeding America serving 40 million individuals, including 12 million children. Nexstar's 198 television stations will air public service announcements during September, designated as Hunger Awareness Month. The partnership highlights Nexstar's commitment to community engagement and aims to raise awareness and volunteer efforts against food insecurity.
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