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. produces and distributes local and national news, sports and entertainment content across television and digital platforms. News about NXST commonly covers advertising and distribution revenue, political advertising cycles, local broadcast operations, The CW Network programming and sports distribution, and the company’s digital partnerships.
Recurring developments also include quarterly earnings, cash dividend declarations, investor-conference participation, debt and tender-offer activity, and corporate updates following Nexstar’s completed acquisition of TEGNA Inc. Company communications frequently connect these topics to broadcast station operations, local journalism, network affiliations, and national content distribution.
Charleston's major TV stations have launched broadcasting with NextGen TV, a new digital technology, enhancing viewer experience with improved video quality and sound. The participating stations include WCIV, WCSC-TV, WTAT-TV, WCBD-TV, and WGWG. This upgrade utilizes ATSC 3.0 technology, allowing for advanced features such as enhanced emergency alerts and internet content integration. The initiative, a decade in the making, follows successful launches in over 40 cities nationwide. Viewers can rescan their TVs for uninterrupted service.
Nexstar Media Group (NASDAQ: NXST) will participate in the Deutsche Bank 30th Annual Media, Internet and Telecom Conference on March 14, 2022, in Palm Beach, FL. Key executives, including CEO Perry A. Sook, COO Thomas E. Carter, and CFO Lee Ann Gliha, will present at 9:35 a.m. ET. A live webcast and replay of the presentation will be accessible via the Investor Relations section on Nexstar's website. Nexstar is a leading diversified media company operating 200 owned or partner stations and delivering over 283,000 hours of original video content annually.
Nexstar Media Group reported Q4 2021 results, with net revenue of $1.25 billion, down 9.5% from Q4 2020. Core advertising revenue grew by 4.3%, while political advertising revenue plummeted 93.7% year-over-year. Adjusted EBITDA was $496 million, a 39.8% margin, and free cash flow reached $327 million. For the 2022/2023 cycle, Nexstar projects annual free cash flow of approximately $1.40 billion. The company returned $162 million to shareholders through dividends and stock buybacks, and increased its dividend by 29% to $0.90 per share.
Nexstar Media Group has appointed Jay Howell as Vice President and General Manager of KLAS-TV and 8Newsnow.com in Las Vegas. Howell brings over 20 years of media leadership experience, having previously managed CBS-affiliated stations in major markets. His role includes overseeing local broadcasting and digital operations, with an emphasis on enhancing content and community engagement. Howell aims to leverage Nexstar’s local strategies and innovative advertising solutions to drive growth for KLAS-TV in the competitive Las Vegas market.
Nexstar Media Group (NASDAQ: NXST) announced a proposal to eliminate its Class B and Class C Common Stock, pending shareholder approval at the June 2022 Annual Meeting. Currently, only Class A shares exist, with about 41 million shares outstanding as of November 2021. This move aims to enhance corporate governance and align the interests of all shareholders. The Board also recently announced a 29% increase in the quarterly cash dividend to $0.90 per share of Class A. The preliminary proxy statement for the meeting is expected in April 2022.
Nexstar Media Group, Inc. (NASDAQ: NXST) announced a significant 29% increase in its quarterly cash dividend, raising it to $0.90 per share, effective from the first quarter of 2022. This marks the company's ninth consecutive annual dividend increase, achieving a compound annual growth rate of 25% since initiation in 2013. The dividend will be payable on February 28, 2022, to shareholders on record by February 11, 2022. Nexstar emphasizes its commitment to generating shareholder value through strategic capital allocation.
Green Bay's television stations, including WBAY-TV, WFRV-TV, WLUK-TV, WGBA-TV, and WCWF, have launched NextGen TV, leveraging ATSC 3.0 technology. This upgrade enhances broadcast quality with stunning visuals and improved audio features, such as Voice+ dialogue enhancement. The service, already live in over 40 cities, provides better emergency alerts and integrates internet content for real-time updates during live events. Viewers can continue using existing DTV formats or rescan their devices for uninterrupted service.
Nexstar Media Inc., a subsidiary of Nexstar Media Group, Inc. (NASDAQ: NXST), has announced the promotion of Shaun Newell and Joe McGuire to Vice President and General Manager roles, overseeing broadcast operations in Peoria, IL and Columbus, GA, effective immediately. Both possess over 30 years of broadcast leadership experience, with a proven track record of enhancing local content and viewer engagement. These promotions reinforce Nexstar's commitment to internal talent development and operational excellence in the competitive media landscape.
Nexstar Media Group and ViacomCBS announced a multi-year renewal of CBS affiliations covering 39 markets, reaching 14% of U.S. audiences and 17.4 million households. The agreement completes all CBS and Nexstar affiliation renewals following three completed last year. Subscribers will continue accessing CBS content on Paramount+ and vMVPD platforms. Financial terms remain undisclosed. The partnership is expected to enhance local news and programming offerings, benefiting viewers and advertisers alike.
ViacomCBS (NASDAQ: VIAC, VIACA) and Nexstar Media Group (NASDAQ: NXST) have renewed CBS Television Network affiliations in 39 markets, reaching 14% of the U.S. audience with 17.4 million households. This agreement completes all previous affiliation renewals. Nexstar's CBS affiliates will continue to be available on Paramount+ and vMVPD platforms. Leaders from both companies emphasized the value of their partnership and the strength of CBS’s programming, including news and sports.