Nexstar Media Group Reports Record Fourth Quarter Net Revenue of $1,377 Million
Nexstar Media Group (NASDAQ: NXST) announced its fourth-quarter financial results for 2020, showcasing a 25.1% increase in net revenue, reaching $1.38 billion.
Sentiment and the balance of points
Rhea-AI Sentiment reads the wording of the document, how positive or negative its language is on a 1 to 5 scale. The balance of points shown with the takes weighs what the document actually discloses, so the two can disagree, for example when a trial that missed its main goal is described in upbeat language.
Nexstar Media Group, Inc. (NASDAQ: NXST) (“Nexstar”) today reported financial results for the fourth quarter ended December 31, 2020 as summarized below. The actual results presented herein for the three months ended December 31, 2020 and 2019 reflect the full operations of both the Nexstar’s legacy broadcasting and digital operations and quarterly results from the Tribune Media stations which were acquired on September 19, 2019. Fourth quarter 2020 revenue from WGN America, also acquired in the Tribune transaction, is included in core advertising revenue and distribution fee revenue. The contribution from Nexstar’s
Summary 2020 Fourth Quarter Results and Full Year Highlights |
||||||||||||||||||||||||
|
|
Three Months Ended December 31, |
|
|
|
|
|
|
Years Ended December 31, |
|
|
|
|
|
||||||||||
($ in thousands) |
|
2020 |
|
|
2019 |
|
|
Change |
|
|
2020 |
|
|
2019 |
|
|
Change |
|
||||||
Core Advertising Revenue |
|
$ |
473,524 |
|
|
$ |
525,458 |
|
|
|
(9.9 |
)% |
|
$ |
1,571,072 |
|
|
$ |
1,335,126 |
|
|
|
+17.7 |
% |
Political Advertising Revenue |
|
$ |
298,270 |
|
|
$ |
36,526 |
|
|
|
+716.6 |
% |
|
$ |
507,564 |
|
|
$ |
51,889 |
|
|
|
+878.2 |
% |
Total Television Advertising Revenue |
|
$ |
771,794 |
|
|
$ |
561,984 |
|
|
|
+37.3 |
% |
|
$ |
2,078,636 |
|
|
$ |
1,387,015 |
|
|
|
+49.9 |
% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Distribution Fee Revenue |
|
$ |
527,986 |
|
|
$ |
445,831 |
|
|
|
+18.4 |
% |
|
$ |
2,152,622 |
|
|
$ |
1,368,881 |
|
|
|
+57.3 |
% |
Digital Revenue |
|
$ |
65,036 |
|
|
$ |
74,310 |
|
|
|
(12.5 |
)% |
|
$ |
223,368 |
|
|
$ |
241,519 |
|
|
|
(7.5 |
)% |
Other Revenue |
|
$ |
11,795 |
|
|
$ |
17,965 |
|
|
|
(34.3 |
)% |
|
$ |
46,643 |
|
|
$ |
41,909 |
|
|
|
+11.3 |
% |
Net Revenue |
|
$ |
1,376,611 |
|
|
$ |
1,100,090 |
|
|
|
+25.1 |
% |
|
$ |
4,501,269 |
|
|
$ |
3,039,324 |
|
|
|
+48.1 |
% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Income from Operations |
|
$ |
||||||||||||||||||||||