Nexstar Media Group, Inc. (NXST)

Nexstar closed its acquisition of TEGNA Inc. on March 19, 2026, which significantly expanded Nexstar's scale. The company reported strong first-quarter 2026 results on May 7, 2026, with EPS of $5.09 beating estimates by 14.38% and revenue of $1.4 billion exceeding forecasts by 11.11%. Nexstar declared a quarterly cash dividend of $1.86 per share and NXST stock was up 7.05% over the past 30 days and 28.17% over the past 12 months as of May 6, 2026. The CW Network announced partnerships with ESPN and The Roku Channel in late April 2026 to stream live events and next-day entertainment programming, respectively.

Nexstar Media Group's products and services exhibit demand seasonality, particularly influenced by political advertising. In 2024, approximately 9% of its advertising revenue came from political sources, indicating that election cycles lead to increased advertising revenue. The Q2 2026 outlook from Nexstar anticipates a mid-single-digit decline in non-political ad revenue, suggesting that outside of political advertising spikes, the advertising environment can be weaker.

Nexstar Media Group, Inc. is a diversified media company operating in the Broadcasting industry. It is the largest television broadcasting company in the United States, producing local and national news, sports, and entertainment content. The company owns and operates 265 television stations, national networks like NewsNation and The CW, and has a significant digital media presence including local station websites and The Hill.

Nexstar Media Group operates 265 owned or operated television stations in 132 markets across 44 states and the District of Columbia, reaching approximately 70% of U.S. television households. Its corporate headquarters are in Irving, Texas, with operational headquarters in New York City and an additional office in Chicago.

Nexstar Media Group has emphasized its commitment to localism and fact-based journalism. NewsNation has shown audience growth and has been validated for unbiased news reporting, emerging as the #1 fastest-growing network in primetime in March 2026. The company also announced a "30 Days of Giving" initiative through the Nexstar Media Charitable Foundation. The company has highlighted its commitment to upholding high standards of local journalism and diversity of viewpoints through transactions.

Nexstar Media Group's ownership is predominantly held by institutional investors including BlackRock, Inc., Vanguard Group Inc., and Dimensional Fund Advisors Lp. Institutional investors collectively hold a significant portion of the company's shares, ranging from approximately 70.77% to 100.23% of total shares outstanding. Insiders hold approximately 6.92% of the stock.