Nexstar Media Group

Nexstar reports EBITDA and free cash flow above plan, driven by stronger-than-expected political advertising revenue and low-double-digit digital revenue growth. The FCC’s removal of the 39% reach cap, management says, opens greater M&A opportunities; detailed integration plans for TEGNA are ready once regulatory clarity exists. NewsNation and monetization of spectrum via EdgeBeam Wireless are viewed as key long-term growth sources. Capital returns remain secondary to value-enhancing acquisitions if suitable deals do not materialize. » Plus sur de.investing.com

After acquiring TEGNA, Nexstar has reached roughly 80% of the US market and has already paid down more than 500 million USD in debt; acquisition-related liabilities are expected to fall by over 1 billion USD by year-end. Management forecasts mid-term EBITDA of around 3 billion USD, will prioritize free cash flow for debt reduction, and targets a dividend yield above 4%; share buybacks are possible once leverage goals are met. Non-political advertising remained weak (mid-single-digit decline), but political advertising and digital/CTV growth should make up the shortfall. The CW is becoming profitable through expanded sports programming and cost cuts, NewsNation is gaining audience, and regulatory and legal questions about ownership remain unresolved and could be litigated through 2027. » Plus sur de.investing.com

At the Citi Global TMT Conference 2026, Nexstar Media described a mix of short-term challenges and long-term opportunities: declines in non-political advertising are offset by record political revenue, expansion of The CW and potential revenue from ATSC 3.0. Management said The CW is moving toward profitability thanks to sports, new affiliate deals and partnerships with ESPN and Roku, while the core local TV business and efficiency measures such as zero-based budgeting remain stable. The takeover of Tegna remains the subject of a protracted legal dispute with oral arguments in November and a merits trial in 2027; Nexstar seeks to limit the injunction and remove the state attorneys general. Looking ahead, Nexstar is banking on scale effects from M&A, distribution discipline and long-term spectrum monetization via the EdgeBeam joint venture. » Plus sur de.investing.com