Nexstar Media Group Inc Stock Price, News & Analysis

Nexstar Media Inc. has appointed Stephen Eaton as Vice President and General Manager for its Billings, Montana operations, which includes KSVI-TV (ABC) and related digital platforms. Eaton brings over 25 years of broadcast management experience, having previously served as General Sales Manager at KTVQ-TV (CBS), where he achieved over 20% growth in new business revenue. His leadership is expected to enhance revenue opportunities and strengthen community engagement. Eaton will report to Traci Wilkinson, Senior Vice President and Regional Manager, and will manage operations immediately.

Nexstar Media has acquired The Hill, a leading political digital media platform, enhancing its digital offerings. Founded in 1994, The Hill boasts 48 million average monthly users and 914 million video views on Twitter. This acquisition complements Nexstar's record growth, with 91 million monthly users and 7.8 billion pageviews in 2020. Combining forces will allow Nexstar to expand The Hill's reach and revenue, leveraging its existing national cable news network, NewsNation, and local news platforms.

Nexstar Media Inc. has acquired The Hill for $130 million, aiming to enhance its digital media presence. The Hill is a leading independent political digital platform with 48 million monthly users and 2.2 billion pageviews in 2020. This acquisition adheres to Nexstar's content-first strategy and is expected to be accretive to its operating results. The deal complements Nexstar's current digital platform, further expanding its reach and monetization opportunities in the political news sector.

Nexstar Media Inc. received two national Edward R. Murrow Awards for excellence in journalism. KDVR-TV in Denver was honored for 'Excellence in Continuing Coverage' for its investigation into ketamine use by paramedics, prompting legislative changes in Colorado. KSNW-TV in Kansas earned the 'Excellence in Hard News' award for its story on Julie Dombo, a shooting survivor who became an amputee advocate. Nexstar’s local news operations also secured 47 regional awards this year, reflecting their commitment to quality community journalism.

Nexstar Media Inc. has appointed Michael Silecchia as Vice President and General Manager of its operations in Rockford, Illinois, overseeing WQRF-TV and related platforms. Silecchia brings nearly 20 years of experience, having previously driven revenue growth at KOKH-TV and served as Director of Sales at Nexstar in Fresno. He is expected to enhance advertising and community engagement. His immediate responsibilities include managing operational agreements with Mission Broadcasting for WTVO-TV. Silecchia's history of success in broadcast leadership positions him well to lead Nexstar’s local operations.

Nexstar Media Group reported strong second-quarter 2021 financial results, with net revenue rising 23.7% year-over-year to $1.13 billion and net income increasing 103.5% to $199.8 million. Core advertising revenue surged 42% to $423.5 million, while digital revenue jumped 57.3% to $73.4 million. However, political advertising revenue declined by 60.5%. The company raised its average annual free cash flow guidance for 2021/2022 by $60 million, now expecting approximately $1.33 billion. Nexstar also repurchased $138 million in shares and paid out $30 million in dividends to enhance shareholder value.

Nexstar Media Group, Inc. (NASDAQ: NXST) has declared a quarterly cash dividend of $0.70 per share of Class A common stock, payable on August 27, 2021, to shareholders on record as of August 13, 2021. The company plans to review future dividends quarterly, maintaining discretion in declaration. Nexstar is a diversified media company with a robust portfolio, operating 199 television stations and reaching approximately 39% of U.S. television households, alongside digital platforms and a stake in TV Food Network.

Nexstar Media Group (Nasdaq: NXST) appointed Lee Ann Gliha as Executive Vice President and Chief Financial Officer effective August 9, 2021. Gliha, with over 20 years of experience in media investment banking, previously served at Jefferies LLC, managing transactions worth over $90 billion. She will oversee financial reporting, internal audit, compliance, and strategic planning. Gliha's expertise is expected to enhance shareholder value as the company continues to advance its business objectives. The announcement underscores Nexstar's commitment to maintaining its leadership in local broadcasting.

Nexstar Media Inc. has promoted Ron Romines to Senior Vice President and Regional Manager, effective July 26. Previously the Vice President and General Manager in Charlotte, he enhanced local news and digital operations, increasing programming and digital revenue. With 30 years in broadcasting, Romines aims to drive success in his new role, reporting to Andrew Alford. Nexstar operates 199 TV stations nationwide, serving 39% of U.S. households, and emphasizes hyper-local content to provide unique advertising solutions.