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.
On November 20, 2020, four local television stations in Norfolk, VA, including WAVY-TV, WVBT, WNLO-CD, and WTVZ-TV, began broadcasting with NEXTGEN TV, a breakthrough digital broadcast technology enabling features like immersive 4K video, mobile broadcasting, and enhanced emergency alerts. Powered by ATSC 3.0, this launch marks a significant upgrade in broadcast technology, with stations cooperating to ensure program availability for all viewers. BitPath facilitated the initiative, planning a dedicated broadcast data network expected to launch in 2021.
On November 17, 2020, five major TV stations in Raleigh, NC, including WTVD, WNCN, WUVC, WLFL, and WRDC, launched NEXTGEN TV, utilizing advanced ATSC 3.0 technology. This upgrade promises enhanced features like 4K video, immersive audio, and emergency alerts. The initiative is backed by BitPath and aims to improve broadcast quality and viewer experience across various platforms. Local residents can easily access this service by rescanning their TVs. Sinclair Broadcast Group and Nexstar Media Group executives stressed the importance of this deployment for advanced broadcasting.
Nexstar Media Group (NASDAQ: NXST) announced the merger of its subsidiaries, Nexstar Digital LLC and Nexstar Broadcasting, Inc., effective November 1, 2020. The new structure will streamline operations under Nexstar Inc., expected to generate mid-seven figure expense savings in 2021. Karen Brophy will lead the digital division, while Timothy Busch and Sean Compton will oversee broadcasting and networks, respectively. This alignment aims to maximize content value and enhance shareholder returns, building on synergies realized from the previous Tribune Media acquisition, which generated over $185 million in first-year savings.
Nexstar Media Group (NASDAQ: NXST) has declared a quarterly cash dividend of $0.56 per share for its Class A common stock. This dividend will be payable on November 20, 2020, to shareholders of record as of November 6, 2020. The company plans to continue regular quarterly dividends, though future payments will be reviewed and declared at the discretion of the Board of Directors. Nexstar is a leading media company, operating 197 television stations across 115 markets, reaching 39% of U.S. TV households.
VENN, a live 24/7 streaming network for gaming and entertainment, has successfully closed a $26 million Series A financing round, co-led by BITKRAFT and Nexstar Media Group (NASDAQ: NXST). This funding is aimed at expanding VENN's content capabilities and distribution. Nexstar gains exclusive local TV broadcasting rights and a board member appointment. VENN's distribution has recently expanded to platforms like Roku, Plex, and LG Smart TVs, enhancing its reach to younger audiences. Additionally, VENN appointed Jeff Jacobs as EVP & General Manager to spearhead growth and operations.
On Oct. 8, 2020, five major television stations in Oklahoma City launched NEXTGEN TV, based on ATSC 3.0 technology, marking a significant broadcast upgrade. Stations include KOCO-TV (ABC), KFOR-TV (NBC), KOKH-TV (Fox), KOCB (CW), and KAUT (IND). The technology features immersive 4K video, mobile broadcasting, and enhanced emergency alerts. Nexstar Media and Sinclair Broadcast Group emphasize the rollout’s efficiency, aimed at providing better viewing experiences and new services for advertisers. This launch is part of a broader trend towards innovative broadcasting in the digital age.
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Nexstar Media Group has appointed Thomas E. Carter as President and Chief Operating Officer, effective October 1, 2020. He will continue to serve as Chief Financial Officer under a new employment agreement extending through December 31, 2023. Carter has significantly contributed to Nexstar's growth, particularly through key acquisitions that expanded free cash flow and operational capacity. Under his tenure, Nexstar's revenue has grown over 12 times and its equity valuation has surged 90 times. The company's leadership expresses confidence in Carter's ability to drive future growth.
On June 30, 2020, four leading television stations in Salt Lake City—KUTV, KTVX, KUCW, and KJZZ-TV—launched NEXTGEN TV, a transformative digital broadcast technology powered by ATSC 3.0. This upgrade allows for enhanced features like 4K video, immersive audio, and advanced emergency alerts. The collaborative effort among the stations aims to maintain programming access for all viewers, regardless of their service method. Sinclair Broadcast Group and Nexstar aim to accelerate the rollout of NEXTGEN TV, enhancing viewer experience and advertising capabilities.