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.
Major broadcasters in the Myrtle Beach-Florence market, including WPDE-TV, WBTW, WHMC, and WWMB, launched NextGen TV, a new digital broadcast technology powered by ATSC 3.0. This upgrade delivers improved video quality, enhanced sound, and advanced emergency alerts. The launch follows a decade of research and significant planning, with BitPath coordinating efforts across the stations. Viewers can access the new service by rescanning their TV sets, while cable and satellite subscribers require no adjustments. NextGen TV is already available in over 70 cities nationwide, covering 75% of viewers.
Nexstar Media Group (NASDAQ: NXST) has appointed Lisa Taylor as Senior Vice President of Digital Advertising Sales, effective June 17. Taylor, with over 20 years of experience in advertising sales, joins Nexstar from Amazon. At Amazon, she achieved a 300% increase in new business revenue as Senior Business Development Manager for Amazon Ads. Taylor will report to Andrew Alford, President of Nexstar's broadcasting division, and will be responsible for digital revenue growth across Nexstar's broadcast group. She will lead sales strategy, sales enablement, and talent development for 117 local markets. Taylor has also held leadership positions at Meredith Mr. Alford praised her experience in the rapidly evolving digital landscape, and Taylor expressed her excitement about joining Nexstar.
Nexstar Media Group will air a documentary titled “D-Day: The Greatest Victory” to commemorate the 80th anniversary of D-Day. The program will be broadcast across 117 U.S. markets during the week of June 2, and on NewsNation on June 9 at 10 p.m. ET. Produced by Nexstar Broadcasting in collaboration with WAVY-TV, the one-hour special features firsthand accounts from D-Day veterans, stories of sacrifice, and the impact on families. Highlights include stories from the Bedford Boys, insights into the Niland family, and tales of civilian women who contributed to the war effort. Nexstar aims to provide an educational and inspiring experience for viewers.
Nexstar Media Group announced that 25 of its television stations have won 35 regional Edward R. Murrow Awards from the RTDNA.
These awards recognize excellence in journalism and locally produced news programming.
Notable winners include KGET-TV in Bakersfield and WSYR-TV in Syracuse, which received awards for Overall Excellence.
Eight Nexstar stations received multiple awards, and categories include Excellence in Writing, Investigative Reporting, Newscast, Diversity, Equity and Inclusion, and Breaking News Coverage.
Nexstar's President of Broadcasting, Andy Alford, and SVP of Local Content Development, Susan Tully, praised the journalists and stations for their hard work and dedication.
NewsNation will become a 24/7 cable news network starting June 1. New programming includes an early-evening edition of 'NewsNation Now' with Adrienne Bankert on weekends. This expansion follows recent launches of other weekend news shows. President Sean Compton emphasized the network's commitment to unbiased news. Since its rebranding in 2021, NewsNation has seen a 210% rise in primetime viewers and a 120% increase among adults 25-54. The network reaches nearly 67 million U.S. households. Three veteran journalists, Anna Kooiman, Laura Ingle, and Alicia Nieves, have joined the team.
The CW Network has unveiled its seven-night primetime schedule for 2024-2025, featuring a mix of game shows, dramas, sports, and movies. Highlights include 'Trivial Pursuit' and 'Scrabble' on Mondays, WWE NXT on Tuesdays, and returning series like 'Sullivan’s Crossing' on Wednesdays. Thursdays will feature the final season of 'Superman & Lois' and the new drama 'The Librarians: The Next Chapter.' Fridays bring back 'Whose Line Is It Anyway?' and 'Inside the NFL.' Saturdays will focus on CW Sports with NASCAR Xfinity Series and college football, while Sundays are reserved for movie nights. Midseason additions include 'Good Cop/Bad Cop' and 'Sherlock & Daughter.' CW Sports will include more live events than before, including WWE NXT, Pac-12 football, and NASCAR Xfinity Series. The network aims to deliver 500 hours of sports content in 2025.
The CW Network will nationally broadcast 11 Pac-12 football games featuring Oregon State and Washington State during the 2024 season. This includes a doubleheader on August 31, 2024. The broadcasts, produced by Pac-12 Enterprises, promise coast-to-coast coverage of these home games. The CW's sports lineup also includes ACC football, LIV Golf, and NASCAR Xfinity Series. Last season, The CW's college football broadcasts reached over 1 million viewers. The network aims to deliver over 500 hours of premium sports content in 2025. Key stakeholders emphasize the partnership's benefits, including national exposure and improved scheduling for student-athletes and fans.
Nexstar Media Group, Inc. reported record first-quarter net revenue of $1.28 billion, driving net income to $167 million, adjusted EBITDA to $542 million, and adjusted free cash flow to $403 million. Additionally, the company reduced quarterly losses at The CW by $50 million and returned $168 million to shareholders, reducing shares outstanding by 1.7%. The company remains confident in delivering strong financial results, especially with anticipated record political spending in the upcoming presidential election cycle.
Nexstar Media Group, Inc. (NASDAQ: NXST) announced that its TV stations in Chicago, Norfolk, and Lafayette will become affiliates of The CW Network on September 1, 2024. The move expands Nexstar's reach to 42 CW stations, covering over 36% of US TV Households. The stations will air primetime entertainment, live sports, and special events, providing new advertising opportunities.
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