Nexstar Media Group

Nexstar reported record revenue of $1.99 billion in the second quarter, driven by the TEGNA acquisition and strong political advertising and distribution revenue, beating revenue forecasts. Adjusted earnings per share, however, were $3.61 and materially missed analysts’ estimates, weighed down by acquisition-related costs and higher interest expenses. Adjusted EBITDA and free cash flow rose significantly; management prioritizes debt reduction over buybacks and expects continued strong political ad revenue into 2026. » More on de.investing.com

Nexstar has completed the nationwide rollout of ATSC 3.0 (NextGen TV), with Cleveland now going live as the last of the 25 largest US markets. The 2024 acquisition of WBNX-TV provided the necessary spectrum capacity for the transition in Cleveland. NextGen TV offers 4K UHD/HDR, immersive audio, interactive content, enhanced data services and improved emergency alerts as well as terrestrial GPS backup capabilities. Nexstar sees new business opportunities through its joint venture EdgeBeam Wireless for data services such as high‑precision positioning, digital signage and public‑safety solutions. » More on de.investing.com

Nexstar shares gained about 5% after reports said the FCC is likely to lift the nationwide audience reach cap for broadcasters. The potential deregulation would ease Nexstar’s takeover of Tegna, which together would reach roughly 80% of U.S. households—well above the previous 39% limit. The merger still faces legal challenges: state attorneys general and DirecTV have secured a court injunction, and a trial is scheduled for next summer. » More on de.investing.com