The increase to $1.2 billion was driven by strong political advertising revenue and healthy year-over-year increases in distribution, digital and other revenue, offset by a decline in core advertising.
The Sook-led Nexstar has delivered total shareholder returns of over 1,800% over the last 10 years.
Nexstar Media Group announced today that its board of directors declared a quarterly cash dividend of $0.90 per share of its common stock. The dividend is payable on Thursday, Aug. 25, to shareholders of record on Thursday, Aug. 11. In addition, the board approved a new share repurchase program authorizing the company to repurchase up […]
The media executive with nearly 20 years of large market leadership experience will oversee broadcast and digital operations in multiple markets.
Nexstar Media Group, the nation’s biggest owner of television stations, is close to a deal to acquire majority control of The CW network from co-owners Warner Bros. Discovery and Paramount Global, according to people familiar with the matter. Under the terms being discussed, Nexstar would acquire 75% of The CW, a broadcast network aimed primarily at teens and young adults, with Paramount and Warner Bros. Discovery each retaining 12.5% stakes, the people said.
“I wouldn’t be surprised if we owned a broadcast network and maybe other cable networks that we layer on top of our local content foundation,” Nexstar Media Group CEO Perry Sook said when asked on a podcast to envision what Nexstar would look like in 2032. Nexstar has reportedly been discussing acquiring a majority stake in The CW. The CW is now a joint venture of Paramount and Warner Bros. Discovery and Nexstar is one of its largest affiliate groups.
The increase to $1.2 billion was driven by gains across all revenue categories including core, political distribution, digital and other.
Nexstar Media Group’s board of directors declared a quarterly cash dividend of $0.90 per share on its Class A common stock. The dividend is payable on Friday, May 27, to shareholders of record on Friday, May 13. Also, Tegna‘s board declared a regular quarterly dividend of 9.5 cents per share, payable on July 1 to stockholders of record as of the close of business on June 3.
The decrease to $1.25 billion from 4Q 2020 came despite Strong year-over-year growth across all of Nexstar’s non-political revenue sources. Excluding political, net revenue increased 13.8% year-over-year. For the full year, net revenue hit $4.65 billion, a 3.3% increase over the prior year.
Nexstar Media Group said its board of directors voted to recommend that shareholders approve an amendment to its corporate charter to eliminate the company’s Class B and C common stock classes. As of Nov. 2, 2021, Nexstar had approximately 41 million shares of Class A common stock outstanding and no shares of Class B Common […]
AT&T Inc.’s WarnerMedia and ViacomCBS are exploring a possible sale of a significant stake or all of the CW Network, which they jointly own, according to people familiar with the matter. Among the suitors is Nexstar Media Group, the nation’s biggest TV station group and a large owner of affiliates of the network, the people close to the talks said. The CW caters primarily to teens and young adults.
Nexstar Media Group promotes the experienced company veteran to lead its NBC-CW affiliate in Georgia.
The change comes as Nielsen adds BBO homes to its local TV measurement.
“In Q3 and in Q4, 14 of the top 25 categories are up,” said Nexstar President-COO Tom Carter. “Core television advertising, reflecting accelerated rebound demand for our premium local and national marketing solutions, led to a 13.3% year-over-year increase in revenue for this segment.”
The increase to $1.15 billion from 3Q 2020 was boosted by core ad revenue growth of 13%, higher distribution fee revenue (up 15%) and digital revenue growth of 47%.
Bitcentral, a provider of media workflows, has debuted a new version of Create, a browser-based timeline editor that enables collaboration in editing and publishing video to OTT, social media, and MOS-integrated newsroom production systems. The solution is being used by Nexstar Media Group, which also played a key role in its development. Mark Turner, VP […]
A year after WHO-TV Des Moines, Iowa, abruptly let her go, Sonya Heitshusen filed an age and gender discrimination lawsuit Tuesday against WHO’s parent company, Nexstar Media Group. The lawsuit alleges Heitshusen, 54, was “thrown out to pasture” because she was no longer seen as camera-worthy, after years in which she saw her male colleagues receive better treatment from management.
The purchase of the national political platform “complements Nexstar’s leading digital platform,” the company said.
“Looking ahead, we’re encouraged by the overall acceleration in economic activity and the improved trajectory of ad spending across our footprint as market conditions continue to improve,” Chairman-CEO Perry Sook told analysts this morning.
The broadcasting executive with 30 years of management, sales and marketing experience will oversee broadcasting and digital operations in various markets across the U.S.
The Hill, a D.C.-based digital and print publication, is being more aggressively shopped by its owner Jimmy Finkelstein, sources tell Axios, including holding recent talks with broadcasting giant Nexstar Media Group.
Streaming News 2021 will wrap up Wednesday with a roundtable on technology and the free ad-supported TV approach to building a business on OTT. Register here.
Human resources executive Courtney Williams is promoted to the newly created postion of leading companywide efforts to expand diversity in hiring, promotion and retention.
Nexstar Media Group announced today that its board of directors declared a quarterly cash dividend of $0.70 per share of its Class A common stock. The dividend is payable on Friday, May 28, to shareholders of record on Friday, May 14.
Chairman-CEO Perry Sook and Broadcasting President Tim Busch are bullish on a number of ad revenue fronts, including an auto rebound, sports betting and strong political opportunities heading toward 2022.
The increase to $1.4 billion from 4Q 2019 was boosted by a 717% increase in political advertising as well as higher distribution fee revenue. Core ad revenue was down 9.9%.
She will lead an expanded revenue team that includes Jennifer Scialbro, SVP of local digital sales and Wil Danielson, SVP of national digital sales.
It OKs a 25% increase in quarterly cash dividend to $0.70 per share and authorizes repurchase up to $1 billion of its Class A common stock.
Nexstar Media Group, Inc. and Antietam Broadband announced Tuesday that they reached a multi-year agreement to return independent WDVM Hagerstown , Md. (Washington DMA) to the broadband system in Hagerstown and Washington County, Md. The station has been absent from the cable service’s channel lineup since the end of 2018.
It’s paying Tribune Publishing $160 million for BestReviews, saying the deal “diversifies our digital content portfolio while presenting the company with new and significant revenue channels.”
Nexstar Media Group TV stations in 120 markets and 42 states as well as WGN America nationwide have gone dark on Dish Network platforms after days of negotiations between the companies failed to yield a deal. In all, 164 stations are offline.
The ongoing retransmission consent battle between Dish Network and Nexstar Media Group continued Friday, with the station group claiming that Dish has declined reasonable offers to settle the dispute.
Dish Network and Nexstar Media Group are warning subscribers and viewers of a potential blackout. As with past contract disputes, the companies are blaming the other. In a Thanksgiving news release, Dish said Nexstar is threatening the “largest local station blackout in TV history” that could “black out” customers’ access to “164 local channels in 120 markets across 42 states and the District of Columbia.” The contract between Dish and Nexstar expires Dec. 2, according to Gary Weitman, Nexstar EVP and chief communications officer, who said: “We felt it was important to start advising our viewers who are Dish subscribers of the potential for an interruption in service, since Dish has a history of repeatedly forcing stations off of their system.”
That increase from 3Q 2019 was boosted by a 583% increase in political advertising and its purchase last year of Tribune Media. Core ad revenue grew 31.6%.
Nexstar Media Group is combining its broadcasting and digital subsidiaries as Nexstar Inc. to “drive synergies, create operational efficiencies, reduce expenses and enhance financial results.” Timothy C. Busch becomes president, broadcasting; the digital business unit will be led by Karen Brophy; and Sean Compton will be president, networks, overseeing WGN America, AntennaTV and WGN Radio.
The veteran Nexstar exec will retain his current responsibilities as chief financial officer for the foreseeable future, the company said.
Executives from Nexstar, Newsy, CBS Local Digital and Local Now will assess ad technology’s performance amid the pandemic’s growing streaming audience at TVNewsCheck’s virtual OTT News Summit on Sept. 24. Register here.
Perry Sook, Nexstar Media Group’s chairman and president, says the company is dedicating the equivalent of $120 million this year to promote its national newscast, News Nation. How will that money be spent? What media is being used? And what will the creative be?
The company saw sequential month-over-month core advertising improvement from April to May, May to June — “and this trend is continuing in July,” according to CEO Perry Sook.