Nexstar Announces $1 Billion Offering

Nexstar Media Group announced today that its wholly-owned subsidiary, Nexstar Broadcasting, intends to offer, subject to market and other customary conditions, up to $1 billion in aggregate principal amount of new senior notes due 2028 in a private offering. The notes will be Nexstar’s senior unsecured obligations and will be guaranteed by the company, Mission Broadcasting Inc. and “certain of Nexstar’s and Mission’s existing and future restricted subsidiaries on a senior unsecured basis.” Nexstar said it intends to use the proceeds to redeem all of its 5.625% senior unsecured notes due 2024, with the remainder to be used for “general corporate purposes.”

Nexstar Names Castano GM In Binghamton, Elmira

The station group chooses the management, sales, programming and marketing executive with 25 years of local broadcasting experience to lead WIVT, WBGH Binghamton and WETM Elmira-Corning.

‘NewsNation’ Edict Costs Nexstar Stations Access To CNN Video

Nexstar stations are said to be apoplectic over the decision by CNN to terminate its video sharing agreement with the company’s 197 affiliates. The move came in retaliation for a Nexstar corporate edict that its stations withhold breaking news video from competing networks so NewsNation can have it first.

Nexstar OKs $300M Share Repurchase Expansion

Perry A. Sook, Nexstar chairman, president and CEO, said: “The expanded repurchase authorization reflects our confidence in the company’s growing free cash flow from operations and our long-term commitment to deploying capital in a manner that can enhance shareholder value.”

‘NewsNation’ Debuts Tonight On WGN America

The new live daily three-hour newscast features 150 dedicated reporters and staff; will leverage the knowledge of 5,400 local journalists from Nexstar’s 110 newsrooms. It will be available to 75 million U.S. television households.

JESSELL AT LARGE

Jessell | TV News’ Real Bias Problem: Expediency

Nexstar has promised its forthcoming national newscast, News Nation, will be completely absent of bias and that it will bring on rhetoricians to ensure it. The reality of bias in TV news is much murkier to root out, stemming from the industry’s favoring of stories that are quick, easy and inexpensive to produce.

EXECUTIVE SESSION WITH SUSAN TULLY

TVN Executive Session | Nexstar Hews To Decentralized News Approach

Nexstar will launch a new national newscast this fall, drawing in part from its 110 news-producing stations, but individual stations will have the autonomy to chart their own news course, says Susan Tully, SVP of local content development.

DMA 82 & 145

Nexstar Appoints Two GMs In Texas

It promotes Mike Lee to VP-GM of its KWKT-KYLE Waco-Temple-Bryan, and chooses Mark Garcia to succeed Lee as leader of KMID Midland.

MARKET SHARE | DMA 40: AUSTIN, TX

Austin’s KXAN Investigations Are As Big As Texas

Everything’s bigger in Texas. Even investigative journalism. Find out why KXAN Austin’s latest investigation involved almost two dozen people in news, digital, production and marketing, and how the station balances that content on TV and digital platforms across all the Nexstar stations in the Lone Star State.

MARKET SHARE

Nexstar Donates $20K To Help Families Of Virginia Beach Mass Shooting

Nexstar Announces Virtual 2020 Annual Stockholders Meeting

Nexstar Media Group said it will hold its 2020 annual meeting of stockholders in a virtual-only format due to public health concerns relating to COVID-19 and to protect the health and well-being of its stockholders, directors, employees and the public. As previously announced, the 2020 annual meeting will be held on Wednesday, June 3, at […]

Nexstar Lands Las Vegas Raiders Rights

The group’s stations in Los Angeles, San Francisco-Oakland, Salt Lake City, Honolulu, and Bakersfield, Calif., become the “Official Home of Raiders’ Football” in their markets.

Nexstar’s News Nation Begins Hiring Correspondents For September Launch

MARKET SHARE

Nexstar Televises Meeting With N.Y. Reps On Fed Response

ChyronHego, TV Groups Offer Detailed Virus Data

The data being sourced locally by Nexstar, Sinclair and Quincy Media journalists supports more accurate and timely community-focused reporting.

MARKET SHARE

WTTV-WXIN Indianapolis Help Raise $219,000 For Food Pantries

DMA 27: RALEIGH, NC

John Lewis Upped To VP-GM At WNCN

The veteran broadcasting executive with 30 years of experience is promoted by Nexstar to Lead its Raleigh, N.C., CBS affiliate.

MARKET SHARE

Nexstar Hosting Live Coronavirus Special Across 9 Stations

DMA 73: SPRINGFIELD, MO

Mike Spruill Named GM Of KRBK-KOZL

Nexstar chooses the veteran broadcasting executive with more than 30 years of sales experience to lead its Fox-MNT duopoly in Springfield, Mo., following the retirement of Leo Henning.

DMA 20: SACRAMENTO, CA

Scot Chastain Appointed VP-GM Of KTXL

Nexstar moves the veteran television and marketing executive from Lansing, Mich., to lead its Fox affiliate in Sacramento, Calif.

DMA 17: DENVER

Nexstar Names Grandy GM Of Denver Duopoly

Veteran media industry executive Byron Grandy moves from WNCN Raleigh, N.C.,  to lead KDVR, KWGN and their related websites and mobile applications.

QUARTERLY REPORT

Nexstar 4Q Revenue Climbs 38%

Aided by the acquisition of Tribune Media properties, it reported net revenue of $1.1 billion, with core advertising growing by 76%.

Nexstar Helping Victims Of Tornadoes And Mass Shootings

KLAS New Year’s Eve Special Airing Across 14 Cities

Nexstar To Air New Year’s Eve Special From Dallas

EARNINGS CALL

Nexstar’s Legal Ads Grow As Auto Softens

“The category that is phenomenal in its growth — and it continues to be unabated — is the legal category,” the group’s CEO, Perry Sook, told analysts today. He noted that legal is already the top category reported by another group owner in at least two markets, surpassing auto. “We’re not there yet, and there’s a long way to go for us to get there, but legal is now our No. 2 category, supplanting fast food, furniture and some of the other perennially strong categories. They’re strong, it’s just that the growth curve on legal advertising continues unabated,” Sook said.

QUARTERLY REPORT

Nexstar 3Q Revenue Drops 4.2% To $664M

The quarterly numbers reflect the 12-day contribution and expenses from the acquired Tribune stations. Total spot revenue grew 11% to $290,213,000.

Nexstar Moves To Impressions-Based Ad Sales

Following other TV groups, Nexstar Media Group’s broadcasting unit, one of the largest owners of U.S. TV stations, will move to a cost-per-impression (CPM) model from household ratings for selling advertising. As with other TV companies, Nexstar says impressions provide more granular data of viewers watching a program or commercial. More importantly, this positions TV stations against increasingly competitive digital media platforms.

DMA 12: TAMPA, FL

Nexstar Ups Mark Higgins To Tampa GM

The 35-year local broadcast veteran to lead the group’s WFLA-WTTA duopoly and WFLA.com.

MARKET SHARE

Nexstar’s ‘Newsfeed Now’: Hand-Delivered News

“What we do is we peruse through every Nexstar station whether it is Twitter, Facebook, Instagram and we are looking for things that are more appealing than just the average, everyday news story that only affects a Little Rock market, a Fayetteville market, or a Birmingham, Alabama market,” says Aaron Nolan, the host of Newsfeed Now. 

Nexstar Pays $100K To Resolve FCC Investigation

The FCC has resolved its investigation into a couple of Nexstar stations that failed to comply with children’s TV reporting requirements, which follows its dismissal of a retrans complaint against the broadcaster that comes in the context of FCC Chairman Ajit Pai’s circulation of an item approving Nexstar’s merger with Tribune. The commission likes to resolve pending issues with a merger party that could impact its standing as a licensee before deciding whether to let it own more stations.

THE PRICE POINT

Clock Ticks Down On Nexstar/AT&T Impasse

Hank Price: That crucial point in the long-running retrans standoff will come Sept. 5, the day the regular NFL season kicks off on NBC. If there is one thing that will cause consumers to change providers, it is the loss of NFL football. Should that happen, it will be a boon to the cable light OTT services. And the stakes are just as high for Nexstar since the NFL is a very specific advertising buy.

QUARTERLY REPORT

Nexstar 2Q Revenue Drops 10.3%

However, factoring out political results in a 2.7% increase. Retrans grows 13.8% to $314 million.

CBS And Nexstar Renew Affiliation Agreements

The new agreement with largest independent operator of CBS affiliates covers nearly six million television households across 15 markets.

Nexstar Declares 45 Cents Per Share Dividend

The dividend is payable on Friday, Aug. 23 to shareholders of record on Friday, Aug. 9.

RETRANS

Nexstar Stations Overstate Hill Blackout Letters

Retrans battles are known for their gamesmanship, but Nexstar’s characterization of some of the Hill pushback on the ongoing retrans impasse with AT&T’s DirecTV drew the ire of one local paper, some MVPD fans, and, ultimately, some corrections.

RETRANS

More Legislators Call For Nexstar, AT&T Resolution

Legislators continued to turn up the heat in the ongoing retransmission consent battle between DirecTV and Nexstar Media Group, with representatives from seven states joining Sen. Richard Blumenthal on Tuesday in sending letters to DirecTV parent AT&T urging for an end to the blackout as it entered its fifth day.

DOJ Still Mum On Tegna-Nexstar Spinoffs

Those looking for Justice’s decision on whether it has any antitrust issues with Tegna’s purchase of Nexstar spin-off stations will have to wait a little longer. That is because for the sixth business day in a row the Federal Trade Commission has issued no early termination notices on any deal, an unusual hiatus for such announcements.

DMA 49: GRAND RAPIDS, MI

WOOD Grand Rapids Unveils New Set

Nexstar’s Sook To FCC: Set Cap At 78% ASAP

The Nexstar CEO says while the FCC’s ownership coverage cap is effectively at 78% now, broadcasters would like the Pai FCC to lock it in at that level so that some future FCC with a Democratic majority cannot easily reset it at 39% by once again repealing the UHF discount.