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 Inc., a subsidiary of Nexstar Media Group (Nasdaq: NXST), announced the acquisition of BestReviews from Tribune Publishing for $160 million. This deal is poised to enhance Nexstar's digital content portfolio and revenue streams. BestReviews, known for its independent product recommendations, attracts 9 million monthly visitors and has impacted over 300 million consumer purchases. The transaction, expected by year-end 2020, aligns with Nexstar's strategy of leveraging its media properties to increase reach and advertising revenues.
Nexstar Media Group (NASDAQ: NXST) announced a multi-year agreement for its cable network, WGN America, to be available on fuboTV starting mid-January. This marks Nexstar’s second partnership with a streaming service this month. The financial terms remain undisclosed. The agreement allows WGN America to extend its reach, especially for its flagship program, NewsNation, a nationwide newscast airing nightly. Sean Compton, President of the Networks Division, emphasized the importance of this expansion for reaching more viewers seeking unbiased news.
Nexstar Media Group (NASDAQ: NXST) has faced a programming blackout as DISH Network removed 164 local television stations and WGN America from its system. This action followed failed negotiations for a new distribution agreement, resulting in millions losing access to vital local news and programming. Nexstar claims DISH's proposed rates are below fair market value. Despite ongoing negotiations since July, Nexstar reports its efforts to reach an agreement have been unsuccessful, and it urges DISH subscribers to seek refunds for lost programming.
Nexstar Media Group (Nasdaq: NXST) has announced a multi-year agreement for its cable network, WGN America, to be available on YouTube TV starting January 19, 2021. This partnership expands WGN America's reach by adding over 3 million new subscribers to its current 75 million households. Sean Compton, President of the Networks Division, expressed optimism about further expanding WGN America's audience, including coverage of major events like the Presidential inauguration.
Nexstar Media Group (Nasdaq: NXST) risks losing network programming for DISH Network subscribers in 115 markets after DISH failed to finalize a new distribution agreement. Millions may lose access to local news and entertainment starting December 2, 2020. Despite Nexstar's $11 billion revenue in 2020, DISH proposed lower rates undermining fair market value. Nexstar has successfully negotiated with nearly 200 partners recently, contrasting DISH’s pattern of local blackouts. If unresolved, subscribers will miss significant programming, including local news and major sports events.
On November 20, 2020, four local television stations in Norfolk, VA, including WAVY-TV, WVBT, WNLO-CD, and WTVZ-TV, began broadcasting with NEXTGEN TV, a breakthrough digital broadcast technology enabling features like immersive 4K video, mobile broadcasting, and enhanced emergency alerts. Powered by ATSC 3.0, this launch marks a significant upgrade in broadcast technology, with stations cooperating to ensure program availability for all viewers. BitPath facilitated the initiative, planning a dedicated broadcast data network expected to launch in 2021.
On November 17, 2020, five major TV stations in Raleigh, NC, including WTVD, WNCN, WUVC, WLFL, and WRDC, launched NEXTGEN TV, utilizing advanced ATSC 3.0 technology. This upgrade promises enhanced features like 4K video, immersive audio, and emergency alerts. The initiative is backed by BitPath and aims to improve broadcast quality and viewer experience across various platforms. Local residents can easily access this service by rescanning their TVs. Sinclair Broadcast Group and Nexstar Media Group executives stressed the importance of this deployment for advanced broadcasting.
Nexstar Media Group (NASDAQ: NXST) announced the merger of its subsidiaries, Nexstar Digital LLC and Nexstar Broadcasting, Inc., effective November 1, 2020. The new structure will streamline operations under Nexstar Inc., expected to generate mid-seven figure expense savings in 2021. Karen Brophy will lead the digital division, while Timothy Busch and Sean Compton will oversee broadcasting and networks, respectively. This alignment aims to maximize content value and enhance shareholder returns, building on synergies realized from the previous Tribune Media acquisition, which generated over $185 million in first-year savings.
Nexstar Media Group (NASDAQ: NXST) has declared a quarterly cash dividend of $0.56 per share for its Class A common stock. This dividend will be payable on November 20, 2020, to shareholders of record as of November 6, 2020. The company plans to continue regular quarterly dividends, though future payments will be reviewed and declared at the discretion of the Board of Directors. Nexstar is a leading media company, operating 197 television stations across 115 markets, reaching 39% of U.S. TV households.
VENN, a live 24/7 streaming network for gaming and entertainment, has successfully closed a $26 million Series A financing round, co-led by BITKRAFT and Nexstar Media Group (NASDAQ: NXST). This funding is aimed at expanding VENN's content capabilities and distribution. Nexstar gains exclusive local TV broadcasting rights and a board member appointment. VENN's distribution has recently expanded to platforms like Roku, Plex, and LG Smart TVs, enhancing its reach to younger audiences. Additionally, VENN appointed Jeff Jacobs as EVP & General Manager to spearhead growth and operations.
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