Nexstar Media Group Inc is a leading telecommunications and media company that specializes in broadcasting television and providing digital content across various platforms
The company owns and operates a significant number of local TV stations and engages in the production and distribution of news, entertainment, and sports programming. Additionally, Nexstar leverages its extensive reach to offer advertising solutions to local and national advertisers, enhancing their visibility through various media channels. With a commitment to delivering quality content to diverse audiences, Nexstar plays a crucial role in the modernization of television broadcasting and the expansion of digital media services.
Shares of local broadcasting and digital media company Nexstar (NASDAQNXST)
jumped 12.5% in the morning session after the company reported impressive fourth-quarter 2024 results that beat analysts' revenue estimates, driven by a sharp increase in political ad spending. EBITDA also beat Wall Street's expectations, fueled by revenue growth and disciplined cost management. On the other hand, its EPS missed. Overall, this was a mixed yet decent quarter.
Local broadcasting and digital media company Nexstar (NASDAQNXST) reported Q4 CY2024 results exceeding the market’s revenue expectations, with sales up 14.1% year on year to $1.49 billion. Its GAAP profit of $7.56 per share was 6.2% below analysts’ consensus estimates.
Nexstar Media Group, Inc. (NASDAQNXST) (“Nexstar” or the “Company”) today reported financial results for the fourth quarter and full year ended December 31, 2024 as summarized below. Please visit Nexstar’s website to view the full press release.
Nexstar Media Group, Inc. (NASDAQNXST) today announced the appointment of Samantha Osborne Reynolds as Vice President of Political Sales, effective February 18. Ms. Osborne Reynolds will be responsible for building and managing the company’s newly created national political sales division, creating and developing go-to-market political advertising strategies across all of Nexstar’s platforms, and generating significant growth in linear, digital, and connected TV political revenues. She will be based in Washington, D.C., and report to Jon Camera, Nexstar’s Senior Vice President for Advertising Sales.
NASCAR and The CW Network today announced that Saturday’s 2025 NASCAR Xfinity Series season opener at Daytona on The CW delivered the largest audience for any Xfinity Series race in almost three years, with 1.8 million total viewers, according to Nielsen fast national ratings.
Most consumer discretionary businesses succeed or fail based on the broader economy. Lately, it seems like demand trends have worked in their favor as the industry has returned 15.5% over the past six months,
outpacing S&P 500 by 6.6 percentage points.
The CW Network today announced that it has named Michael Perman as Senior Vice President of Sports. Mr. Perman will begin his new duties immediately and report to Brad Schwartz, President of The CW Network. In this newly created position, Mr. Perman will oversee all strategy, programming, and media rights on behalf of CW Sports.
Nexstar Media Group, Inc. (NASDAQNXST), today announced the appointment of Ric Harris as Vice President and General Manager of its broadcast and digital operations in Chicago, Illinois (DMA #3), overseeing the long-range planning and day-to-day management of WGN-TV (CW), WGN-TV+, wgntv.com, and their related mobile and social media channels. Mr. Harris succeeds Paul Rennie, who retired last year. He will assume his new duties immediately and report to Brandin Stewart, Senior Vice President and Regional Manager for Nexstar’s broadcasting division.
Nexstar Media Group, Inc. (Nasdaq: NXST) announced today that its Board of Directors approved a 10% increase to its quarterly cash dividend to $1.86 per share beginning with the dividend declared for the first quarter of 2025. The dividend is payable on Wednesday, February 26, 2025, to shareholders of record on Wednesday, February 12, 2025.
Over the past six months, Nexstar Media’s shares (currently trading at $152.86) have posted a disappointing 13.9% loss, well below the S&P 500’s 7.7% gain. This was partly due to its softer quarterly results and might have investors contemplating their next move.
Nexstar Media Group, Inc. (NASDAQNXST) announced today that it will report its 2024 fourth quarter financial results on Thursday, February 27, 2025. The Company will host a conference call and webcast at 10:00 a.m. ET that morning to review the results.
NewsNation today announced new additions to its primetime programming line-up, with On Balance hosted by anchor/reporter Leland Vittert taking over the 9 pm ET hour, and Elizabeth Vargas Reports, hosted by veteran journalist Elizabeth Vargas, moving to 7 pm ET. The new line-up is effective Monday, February 10. The network also announced that it has reached a new multi-year agreement with Ms. Vargas to continue hosting her weeknight program.
Today at 5 p.m. ET, Altice USA removed from its Optimum cable systems the network and local programming provided by Nexstar Media Group, Inc. (NASDAQNXST) on 63 local television stations in 42 markets across the country. Altice also removed Nexstar’s national cable news network, NewsNation, from its cable system, with a new Congress taking office and the Presidential inauguration less than two weeks away. Altice has decided to deprive more than two million Americans of critical local news, the NFL Playoffs, live sports and other entertainment programming, as well as essential alerts regarding winter weather and natural disasters.
Nexstar Media Group, Inc. (NASDAQNXST) and NBCUniversal have reached a comprehensive multi-year agreement to renew NBC Television Network affiliations in 33 markets across the country, including 29 stations owned by Nexstar, three owned by Mission Broadcasting, Inc., and one owned by White Knight Broadcasting, Inc. Together, the 33 stations reach more than 14 million U.S. television households.
NewsNation today announced that anchor and reporter Chris Cuomo has reached a multi-year agreement with the network to continue hosting his top-rated primetime program, CUOMO, weeknights at 8 p.m. ET.
The end of an earnings season can be a great time to discover new stocks and assess how companies are handling the current business environment. Let’s take a look at how iHeartMedia (NASDAQIHRT) and the rest of the broadcasting stocks fared in Q3.
Nexstar Media Group, Inc. (NASDAQNXST) today announced that executive management will participate in two institutional investor conferences in December. Among other topics, management will address its record financial results in 2024 to date, the impact of broadcast television political advertising on the outcome of the 2024 election, and the potential for ownership de-regulation under the new administration and how and why Nexstar could participate.
As the craze of earnings season draws to a close, here’s a look back at some of the most exciting (and some less so) results from Q3. Today, we are looking at broadcasting stocks, starting with FOX (NASDAQFOXA).
