Nexstar Media Group Inc Stock Price, News & Analysis

Nexstar Media Inc. announced veteran news executive Cherie Grzech as the new Vice President of News and Managing Editor for NewsNation, effective July 19, 2021. Grzech will oversee daily news operations and manage a team of over 100 staff members. Previously, she held roles at Fox News, leading the Washington, D.C. news bureau. With nearly 30 years in broadcast journalism, her expertise includes developing strategic news coverage. Grzech aims to enhance NewsNation's mission of delivering trustworthy news to its 75 million U.S. households.

Nexstar Media Inc. has appointed James Baronet as Vice President and General Manager of its Topeka operations, overseeing KSNT-TV (NBC) and KTMJ-TV (FOX). With nearly 20 years of experience, Baronet aims to enhance revenue growth and community engagement. His prior roles include a successful tenure in Baton Rouge, where he expanded local newscasts and developed innovative programming. Baronet emphasizes Nexstar's commitment to local content and scalable marketing solutions. He holds a BFA in journalism and is actively involved in community initiatives.

Nexstar Media Group has announced the closing of a new $300 million Term Loan B Facility by its variable interest entity, Mission Broadcasting. The loan has a seven-year maturity with an interest rate of LIBOR plus 2.50%. Proceeds will be used to reduce borrowings from its existing Revolving Credit Facility and for general corporate purposes. Following this, the consolidated secured first lien net leverage ratio and total net leverage ratio for Nexstar remained unchanged at 2.1x and 3.4x respectively.

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.