Nexstar Media Group Inc Stock Price, News & Analysis

The television stations WLOS, WSPA-TV, WHNS, WYFF, and WMYA-TV have launched NextGen TV broadcasting technology in the Greenville-Spartanburg-Asheville market, enhancing viewer experience with improved video quality and sound. Powered by ATSC 3.0, NextGen TV offers features like advanced emergency alerts and the potential for real-time Internet content integration. This upgrade follows a decade of development and is part of a nationwide rollout with service already available in over 45 cities. Viewers in Greenville can learn more at www.WatchNextGenTV.com.

Nexstar Media Group (NASDAQ: NXST) announced participation in the Credit Suisse 24th Annual Communications Conference on June 15, 2022, at 1:45 p.m. ET. President Tom Carter and CFO Lee Ann Gliha will engage in a fireside chat during the event. Interested parties can access a live webcast and replay via the 'Events and Presentations' section on Nexstar's Investor Relations page. Nexstar Media Group is a leading diversified media company, owning 200 local television stations and offering a variety of news and entertainment content.

Nexstar Media Inc. has appointed three seasoned broadcast leaders to manage its operations in Salt Lake City, Buffalo, Green Bay, and Marquette. Mark Danielson, Joe Abouzeid, and Judson Beck bring over 90 years of combined experience to their roles. Danielson will lead media operations in Salt Lake City starting June 27, Abouzeid in Buffalo from June 13, and Beck in Green Bay and Marquette from May 31. Their track record includes significant revenue growth and innovation in local news programming, showcasing their commitment to enhancing community ties and advertising solutions.

Nexstar Media Inc. is enhancing its local news coverage in Washington, D.C., by merging WDVM-TV and WDCW-TV into a new operation called DC News Now. This initiative aims to provide over 67 hours of local news weekly, employing new satellite news bureaus in Hagerstown, Frederick, and Chantilly. The expansion will introduce new newscasts and increase coverage for the region's 6 million residents, demonstrating a commitment to local journalism and community engagement.

Nexstar Media Group reported strong Q1 2022 results, achieving a record net revenue of $1.21 billion, up 8.6% year-over-year. Key highlights include:

• Core Advertising Revenue: $428.1 million (+4.0%)
• Political Advertising Revenue: $23.7 million (+338.9%)
• Adjusted EBITDA: $642.7 million (+12.5%)
• Free Cash Flow: $560.4 million (+15.9%)

Additionally, the company returned $195.2 million to shareholders through dividends and share buybacks.

Nexstar Media Group, Inc. (NASDAQ: NXST) announced a quarterly cash dividend of $0.90 per share of Class A common stock. This dividend is payable on May 27, 2022, to shareholders on record as of May 13, 2022. The company plans to continue regular quarterly dividends, with future payments reviewed quarterly at the Board of Directors' discretion. Nexstar is a leading diversified media company, owning the largest local broadcasting group in the U.S. and providing extensive local and national news, sports, and entertainment content.

Nexstar Media Group (NASDAQ: NXST) announces the appointment of Rachel Morgan as Executive Vice President and General Counsel, effective June 20. She succeeds Elizabeth Ryder, who has served since 2009 and will remain as Board Secretary. Morgan brings extensive legal experience from AT&T, where she managed litigation and corporate legal matters. She is expected to oversee Nexstar's legal strategy in business transactions and regulatory filings. Management expresses confidence in Morgan's capabilities to enhance Nexstar's operations and support future growth.

Nexstar Digital has appointed Dennis Cook as Senior Vice President of Sales Marketing to enhance its digital advertising sales strategy. Cook will oversee revenue-driving marketing initiatives and report to Chief Revenue Officer Lori Tavoularis. With over 20 years in the industry, Cook has a proven track record, having led significant growth in revenue and brand awareness at prior positions. Nexstar Digital ranks as the seventh-largest digital property in the U.S. with 133 million monthly unique visitors, emphasizing its strong engagement with advertisers.

All seven local television stations in Richmond-Petersburg, including WRIC-TV, WTVR-TV, and WWBT, have launched NextGen TV, a new digital broadcast technology. This upgrade, based on ATSC 3.0, offers enhanced video quality, improved emergency alerts, and a better auditory experience through Voice+ dialogue enhancement. Broadcasters can incorporate Internet content for live events. The rollout follows years of planning and is already operational in over 40 cities nationwide. For viewers, rescanning their TVs is required for uninterrupted service. More details are available at www.WatchNextGenTV.com.