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) will announce its third quarter financial results for 2021 before market opening on November 2, 2021. A conference call to discuss the results is scheduled for 9:00 a.m. ET on the same day. Interested participants can join via phone or access a live webcast on Nexstar's website. With 199 television stations reaching 39% of U.S. households, Nexstar continues to leverage its diversified media portfolio, which includes broadcasting, digital platforms, and a stake in the TV Food Network.
Nexstar Media Group has partnered with SportsGrid Inc. to launch the SportsGrid Network, the first 24-hour sports wagering and fantasy sports channel, starting September 1. This service will be available in nine major U.S. markets, including San Francisco and Washington, D.C., enhancing Nexstar's digital subchannel offerings. The network promises 18 hours of exclusive live programming, featuring sports news, data, and analytics. The collaboration aims to tap into the growing interest in sports betting and engage audiences across multiple platforms.
Kansas City’s leading television stations, including KMBC-TV, KCTV, and KSHB-TV, have launched NEXTGEN TV, a groundbreaking digital broadcast technology based on ATSC 3.0. This upgrade offers enhanced features like improved emergency alerts, superior video quality, and better audio clarity. The launch follows extensive planning and development and marks a significant step for local broadcasters. The technology will enable viewers to enjoy live events and real-time content more effectively. The service is already operational in over 30 cities nationwide.
Nexstar Media Inc. has appointed Stephen Eaton as Vice President and General Manager for its Billings, Montana operations, which includes KSVI-TV (ABC) and related digital platforms. Eaton brings over 25 years of broadcast management experience, having previously served as General Sales Manager at KTVQ-TV (CBS), where he achieved over 20% growth in new business revenue. His leadership is expected to enhance revenue opportunities and strengthen community engagement. Eaton will report to Traci Wilkinson, Senior Vice President and Regional Manager, and will manage operations immediately.
Nexstar Media has acquired The Hill, a leading political digital media platform, enhancing its digital offerings. Founded in 1994, The Hill boasts 48 million average monthly users and 914 million video views on Twitter. This acquisition complements Nexstar's record growth, with 91 million monthly users and 7.8 billion pageviews in 2020. Combining forces will allow Nexstar to expand The Hill's reach and revenue, leveraging its existing national cable news network, NewsNation, and local news platforms.
Nexstar Media Inc. has acquired The Hill for $130 million, aiming to enhance its digital media presence. The Hill is a leading independent political digital platform with 48 million monthly users and 2.2 billion pageviews in 2020. This acquisition adheres to Nexstar's content-first strategy and is expected to be accretive to its operating results. The deal complements Nexstar's current digital platform, further expanding its reach and monetization opportunities in the political news sector.
Nexstar Media Inc. received two national Edward R. Murrow Awards for excellence in journalism. KDVR-TV in Denver was honored for 'Excellence in Continuing Coverage' for its investigation into ketamine use by paramedics, prompting legislative changes in Colorado. KSNW-TV in Kansas earned the 'Excellence in Hard News' award for its story on Julie Dombo, a shooting survivor who became an amputee advocate. Nexstar’s local news operations also secured 47 regional awards this year, reflecting their commitment to quality community journalism.
Nexstar Media Inc. has appointed Michael Silecchia as Vice President and General Manager of its operations in Rockford, Illinois, overseeing WQRF-TV and related platforms. Silecchia brings nearly 20 years of experience, having previously driven revenue growth at KOKH-TV and served as Director of Sales at Nexstar in Fresno. He is expected to enhance advertising and community engagement. His immediate responsibilities include managing operational agreements with Mission Broadcasting for WTVO-TV. Silecchia's history of success in broadcast leadership positions him well to lead Nexstar’s local operations.
Nexstar Media Group reported strong second-quarter 2021 financial results, with net revenue rising 23.7% year-over-year to $1.13 billion and net income increasing 103.5% to $199.8 million. Core advertising revenue surged 42% to $423.5 million, while digital revenue jumped 57.3% to $73.4 million. However, political advertising revenue declined by 60.5%. The company raised its average annual free cash flow guidance for 2021/2022 by $60 million, now expecting approximately $1.33 billion. Nexstar also repurchased $138 million in shares and paid out $30 million in dividends to enhance shareholder value.
Nexstar Media Group, Inc. (NASDAQ: NXST) has declared a quarterly cash dividend of $0.70 per share of Class A common stock, payable on August 27, 2021, to shareholders on record as of August 13, 2021. The company plans to review future dividends quarterly, maintaining discretion in declaration. Nexstar is a diversified media company with a robust portfolio, operating 199 television stations and reaching approximately 39% of U.S. television households, alongside digital platforms and a stake in TV Food Network.