What is the revenue and EPS growth rate for Nexstar Media Group year over year?

What is Nexstar Media Group's gross profit margin?

What is the market's earnings forecast for Nexstar Media Group next quarter?

What does Nexstar Media Group do and what are its main business segments?

What is Nexstar Media Group's latest dividend and current dividend yield?

What factors drove the changes in Nexstar Media Group's revenue and profit?

What were the key takeaways from Nexstar Media Group's earnings call?

Did Nexstar Media Group beat or miss consensus estimates last quarter?

- **$6.2B TEGNA Acquisition**: 40% accretive to free cash flow; ~3.0x net leverage post-close.
- **Sports Viewer Growth**: NFL up 18M viewers (vs. 2015 record); NBA on NBC up 36% vs. TNT 2024.
- **Political Ad Boom**: 2026 revenue ~$300M+ (vs. $10M in Q3 2025).
- **OATV Leadership**: 80% US coverage vs. CTV competition.

**【CEO Opening Remarks】**
- Announced definitive agreement to acquire TEGNA for $6.2 billion, expected to close in H2 2026.
- Pro forma combined revenue: $8.0 billion; Adjusted EBITDA: $2.56 billion.
- Synergies: $300 million (40% accretive to free cash flow); Net leverage: ~3.0x post-close.
- FCC applications submitted; awaiting federal government reopening post-shutdown.
- 2025 Q3 revenue: $1.2 billion; Adjusted EBITDA: $358 million.

**【COO Operational Update】**
- Distribution revenue flat YoY ($709M vs. $710M); Non-political ad revenue stable despite 23.5% decline in total ad ($476M vs. $622M).
- CW Sports viewership up 11% YoY; NewsNation #1 in cable news growth (57x MSNBC/CNN head-to-head wins vs. 4x in 2024).
- NFL viewership up 18M vs. 2015 record; NBA on NBC up 36% vs. TNT 2024.

**【CFO Financial Review】**
- Q3 2025 Adjusted Free Cash Flow: $166M (vs. $327M YoY); CapEx: $34M; Interest expense: $94M (down 19% YoY).
- 2026 political ad outlook: ~$300M+ revenue (vs. $10M in Q3 2025).
- CW losses reduced $5M YoY; Breakeven target maintained for 2026.

**【Q&A Highlights】**
- **Deal Execution**: FCC approvals expected H1 2026; 37 license transfers pending.
- **Sports Ad Growth**: NFL/NBA viewership gains (18M/36% YoY) driving core ad stability.
- **CTV Strategy**: OATV leadership (80% US coverage) vs. CTV competition.
- **2026 Outlook**: Political ad revenue +40% YoY; ATSC 3.0 spectrum monetization acceleration.


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