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.
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Nexstar Media Group, Inc. (NASDAQ: NXST) is set to report its 2023 first quarter financial results on May 9, 2023, at 10:00 a.m. ET. The company will host a conference call and webcast to discuss these results. Interested participants can join the call by dialing +1 877-407-9208 or +1 201-493-6784, using conference ID 13737773. A live webcast will be available in the “Events and Presentations” section under “Investor Relations” on Nexstar's website. A replay will also be accessible for 90 days following the event. Nexstar is recognized as a leading diversified media company with a significant presence in local and national broadcasting, streaming, and digital platforms, reaching approximately 212 million people across the U.S.
Nexstar Media Group, Inc. (NASDAQ: NXST) has appointed Jamie Calandruccio as Executive Vice President of Platform Monetization & Strategy. She will oversee the company’s revenue management strategy for advertising sales, optimizing inventory, and enhancing the programmatic business. This newly formed role aims to increase revenue through analytical decision-making. Calandruccio, who brings 25 years of experience from Operative and other media firms, will work closely with the sales team and report to Chief Revenue Officer Michael Strober. The company believes her extensive experience and relationships will facilitate immediate improvements in revenue generation.
KRON-TV, KGO-TV, KPIX-TV, KNTV, KTVU, and KDTV-DT have officially launched NextGen TV in the San Francisco Bay Area, utilizing ATSC 3.0 technology. This upgrade enhances picture quality, audio clarity, and provides advanced emergency alerts. The Bay Area joins over 60 markets already using this technology, including major cities like Atlanta and Miami. The transition ensures no disruptions for cable or satellite viewers while offering free services like NavPath to local first responders. This tech evolution represents a significant milestone in broadcasting.
The television stations KCCI, WHO-DT, KDSM-TV, and KDIN-TV in the Des Moines-Ames market have begun broadcasting using NextGen TV, a cutting-edge digital broadcast technology. This upgrade, powered by ATSC 3.0, promises enhanced features like improved emergency alerts, vibrant video quality, and theater-like sound. The transition to NextGen TV is part of a broader rollout across more than 50 cities in the U.S. BitPath has coordinated the efforts and will provide navigation services to first responders in Iowa at no charge. Current broadcasts remain accessible in both NextGen and traditional DTV formats.
WHAM-TV, WROC-TV, WUHF, and WXXI-TV launched NextGen TV broadcasting in Rochester, featuring ATSC 3.0 technology. This upgrade promises enhanced viewing with improved video quality, advanced emergency alerts, and options for live content integration. The stations assure that existing digital broadcast services remain unaffected, with no action needed for cable or satellite subscribers. BitPath coordinated the initiative, and NextGen TV is set to enhance local broadcasting by adding new services and improving viewer experience throughout the Rochester area.
The CW Network has signed a multi-year agreement with YouTube TV to continue broadcasting its CW-affiliated television stations nationwide. While financial terms remain undisclosed, this partnership is set to enhance The CW's content offerings, which will include new sports programming and prime-time shows starting this Fall. President Dennis Miller expressed optimism about expanding their audience through this collaboration. With 29 CW-affiliated stations, Nexstar Media Group, which owns 75% of The CW, plays a significant role in this arrangement, allowing millions of YouTube TV subscribers to enjoy popular shows and local news content.
Nexstar Media Group has secured a multi-year distribution agreement with YouTube TV to launch 59 stations, including 29 CW-affiliated and 26 MyNetworkTV affiliates. This deal extends YouTube TV's offerings to feature Nexstar's CBS-affiliated stations and the rapidly growing news network, NewsNation, known for programs like 'Cuomo' and 'Dan Abrams Live.' This partnership aims to enhance the availability of local news and entertainment content for subscribers and is aligned with NewsNation's expansion into 24-hour news programming. Financial terms were not disclosed.
Nexstar Media Group (NXST) reported record financial results for Q4 and full year 2022. Q4 consolidated net revenue reached $1.49 billion, up 19.3% year-over-year, driven by political advertising revenue of $265.9 million, increasing by 1,306.9%. Full year revenue exceeded $5.2 billion, reflecting a 12.1% growth. Adjusted EBITDA for Q4 was $598.2 million, with an impressive margin of 40.2%. The company also returned $293.3 million to shareholders in Q4, marking a total of $1.02 billion for the year. Looking ahead, Nexstar expects average annual attributable free cash flow of $1.25 billion for the 2023/2024 period, despite anticipated losses from The CW Network.
Nexstar Media Group (NASDAQ: NXST) will participate in the Morgan Stanley Technology, Media & Telecom Conference on March 7, 2023, at 12:55 p.m. PT (3:55 p.m. ET). President Tom Carter and CFO Lee Ann Gliha will be featured in a fireside chat, which will include a question-and-answer session.
A live webcast and replay of the event will be available on Nexstar's Investor Relations section of their website. This engagement underscores Nexstar's commitment to transparency and investor relations.