Nexstar Media Group Inc Stock Price, News & Analysis

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.

Nexstar Media Group, Inc. has appointed Jonathan Killian as Vice President of Creative Marketing and Brand Communications for WGN America, effective January 25. Previously at CNN International, Killian is set to spearhead a comprehensive brand marketing strategy for WGN America and oversee its promotions and marketing departments. His extensive experience includes leading major projects at CNNI and a strong background in media strategy. Nexstar aims to enhance its brand presence and journalism with Killian's expertise.

Nexstar Media Group (NXST) announced a multi-year agreement for WGN America to be available on Vidgo starting January 15, 2021. This partnership expands WGN America's reach by 8.5 million subscribers through five recent agreements with streaming services. Vidgo, launched in December 2019, has seen significant subscriber growth, allowing WGN America to enhance its audience for shows like NewsNation. President Sean Compton emphasized the strategic expansion of the network's reach.

COLUMBUS, Ohio, Jan. 7, 2021 /PRNewswire/ -- Four leading local TV stations in Columbus, WSYX, WCMH-TV, WWHO, and WTTE, launched NEXTGEN TV, an advanced digital broadcast technology. This upgrade facilitates features like 4K video, immersive audio, personalized tools, and advanced emergency alerts. Powered by ATSC 3.0, it aims to integrate with 5G and broadband services. The launch, coordinated by BitPath, ensures ongoing accessibility for all viewers. Rescan instructions for antenna users can be found at fcc.gov/rescan.

Nexstar Media Group (NASDAQ: NXST) will report its 2020 fourth quarter financial results on February 23, 2021, before the market opens. A conference call will be held at 9:00 a.m. ET the same day to discuss these results. Participants can join the call by dialing 323-794-2597 with conference ID 3115135 or access a live webcast on Nexstar's investor relations website. The company operates 198 television stations, providing services to 39% of U.S. television households, and has a significant digital presence with 122 local websites.

Nexstar Media Group announced that veteran journalist Ashleigh Banfield will host a new hour-long news and talk show titled “Banfield” on WGN America, debuting March 1 at 10 p.m. ET. The show aims to provide balanced reporting and feature interviews with newsmakers and celebrities. Additionally, WGN America will expand its programming and reach 8.5 million more households through new distribution agreements. This expansion aligns with Nexstar's strategy to enhance its news offerings and reach a broader audience.