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.
Nexstar Media Group’s cable network, NewsNation, launches its new branding with an expanded programming lineup aimed at delivering unbiased news. The schedule includes four distinct shows, such as NEWSNATION EARLY EDITION and THE DONLON REPORT, broadcasting from 6 to 11 p.m. ET. President Sean Compton emphasizes the network’s commitment to factual reporting and leveraging Nexstar's extensive network of journalists to enhance coverage. NewsNation, formerly WGN America, reaches 75 million households, aiming to be a key player in the national news landscape.
Nexstar Media Group (NASDAQ: NXST) announced the retirement of Timothy C. Busch, President of Broadcasting, effective June 1, 2021, after 36 years in the broadcast industry. Busch has held numerous roles at Nexstar since joining in 2000, contributing to the expansion of the company’s television station group and digital offerings. The company's leadership expressed gratitude for his contributions, stating that Nexstar is well-positioned for future growth with a strong executive team in place. The search for Busch's successor will begin immediately.
Nexstar Media Group's cable network, NewsNation, is set to launch its flagship news and talk show, BANFIELD, on March 1st at 10 p.m. ET. Hosted by Ashleigh Banfield, the show will feature in-depth interviews with high-profile guests, including filmmaker Aaron Sorkin and actors Bryan Cranston and Robin Wright. This launch is part of a broader programming expansion that includes two other shows. NewsNation reaches 75 million households and aims to provide unbiased news, drawing on the expertise of 5,400 local journalists across the U.S.
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. Core advertising revenue saw a 9.9% decline, totaling $473.5 million, while political advertising surged by 716.6% to $298.3 million. Total television advertising revenue rose 37.3%, driven by strong political ad sales. Distribution fee revenue grew 18.4% to $528 million, but digital revenue fell 12.5%.
The results reflect Nexstar's continued integration of Tribune Media stations.
Nexstar Inc. announced the promotion of Chris McDonnell to Vice President and General Manager of its New York City operations, including WPIX-TV and PIX11.com, effective immediately. Previously, McDonnell led KRON-TV in San Francisco, increasing morning news ratings by 50% and doubling the 10 p.m. newscast viewership. His notable achievements also include launching KRONOn.TV and enhancing local sports programming. McDonnell aims to build on WPIX-TV's legacy as the home of the Yankees and Mets, focusing on community engagement and growth.
Nexstar Media Group (NASDAQ: NXST) reported record growth in its digital network for 2020, achieving #1 local news rankings every month. The network averaged 91 million unique monthly users, a 70% year-over-year increase. Key performance metrics included 7.8 billion pageviews and 10.4 billion multiplatform minutes, both up over 130% from 2019. The digital network also generated 1.6 billion video views. President Karen Brophy highlighted a successful audience and content strategy post-Tribune Media acquisition, emphasizing the importance of local news amid increased engagement.
Nexstar Media Group has announced a 25% increase in its quarterly cash dividend to $0.70 per share, effective from Q1 2021. The dividend is payable on February 26, 2021, to shareholders of record as of February 12, 2021. Additionally, the Board approved a new $1.0 billion share repurchase program to enhance shareholder value, reflecting the company's strong free cash flow. This program supplements the remaining $259.2 million from the previous buyback authorization. CEO Perry Sook emphasized the company's commitment to reducing leverage and returning capital to shareholders.
Nexstar Media Group (NASDAQ: NXST) announced the appointment of Bernadette S. Aulestia to its Board of Directors, effective January 27. Aulestia, with over 20 years of experience, previously served as President of Global Distribution at HBO. She will contribute her expertise in marketing strategy and audience development, aiming to enhance Nexstar's growth and shareholder value. Aulestia will also be part of the Board's compensation committee and is expected to stand for election at the 2022 annual meeting.
Nexstar Media Group announced that its cable network WGN America will rebrand as NewsNation on March 1, expanding news programming to five hours on weeknights. New shows include NewsNation Early Edition and The Donlon Report, aimed at delivering fact-based news. NewsNationPrime will cover prime-time news from 8-10 p.m. ET. The rebranding reflects a commitment to unbiased journalism, enhancing the network's reach to over 75 million U.S. households and extending its news coverage. This change follows a recent expansion to an additional 8.5 million households.
Nexstar Media Group (Nasdaq: NXST) has launched a multi-year partnership with Feeding America, committing $2 million in air-time and financial support over three years to combat hunger across the U.S. This initiative is vital as food insecurity rates soar, with Feeding America serving 40 million individuals, including 12 million children. Nexstar's 198 television stations will air public service announcements during September, designated as Hunger Awareness Month. The partnership highlights Nexstar's commitment to community engagement and aims to raise awareness and volunteer efforts against food insecurity.