Business
Nexstar Media Group Reports First Quarter Net Revenue of $1.23 Billion
Q1 Net Revenue Drives Net Income of $97 Million, Adjusted EBITDA of $381 Million, Net Cash Provided by Operating Activities of $337 Million and Adjusted Free
About this update from Nexstar Media Group, Inc.
[{"type":"text","content":"\nQ1 Net Revenue Drives Net Income of $97 Million, Adjusted EBITDA of $381 Million, Net Cash Provided by Operating Activities of $337 Million and Adjusted Free Cash Flow of $348 Million\n\nRecord First Quarter Distribution Revenue\n\nQuarterly Return of Capital to Shareholders of $132 Million\n\n IRVING, Texas--(BUSINESS WIRE)--\nNexstar Media Group, Inc. (NASDAQ: NXST) (“Nexstar” or the “Company”) today reported financial results for the first quarter ended March 31, 2025 as summarized below. Please visit Nexstar’s website to view the full press release.\n\nSTATEMENT FROM PERRY A. SOOK, FOUNDER, CHAIRMAN AND CEO\n\n“Nexstar delivered solid first quarter Net Revenue, Adjusted EBITDA, and Adjusted Free Cash Flow, driven by record first quarter distribution revenue and disciplined expense management. As the nation’s largest local broadcaster, we strategically use our scale to drive strong operating results and cash flow and facilitate organic growth initiatives as we further elevate The CW and NewsNation to top-tier networks. During the quarter we deployed our Adjusted Free Cash Flow to repay debt, pay dividends, repurchase stock and – what we hope to be an increasing use of our strong balance sheet – make an acquisition. For the balance of 2025, we remain focused on renewing distribution contracts representing approximately 60% of our subscriber base in total for the year, continuing our path towards profitability at The CW, preparing for the 2026 political cycle, and pursuing deregulation.”\n\n2025 First Quarter Financial Summary\n\n\n\n($ in millions)\n\n\n\n \n\n\n\n \n\n\n\nThree Months Ended March 31,\n\n\n\n\n\n\n \n\n\n\n \n\n\n\n \n\n\n\n2025\n\n\n\n \n\n\n\n2024\n\n\n\n \n\n\n\n% Change\n\n\n\n\n\n\nDistribution\n\n\n\n \n\n\n\n \n\n\n\n$762\n\n\n\n \n\n\n\n$761\n\n\n\n \n\n\n\n0.1\n\n\n\n\n\n\nAdvertising\n\n\n\n \n\n\n\n \n\n\n\n460\n\n\n\n \n\n\n\n512\n\n\n\n \n\n\n\n(10.2)\n\n\n\n\n\n\nOther\n\n\n\n \n\n\n\n \n\n\n\n12\n\n\n\n \n\n\n\n11\n\n\n\n \n\n\n\n9.1\n\n\n\n\n\n\nNet Revenue\n\n\n\n \n\n\n\n \n\n\n\n$1,234\n\n\n\n \n\n\n\n$1,284\n\n\n\n \n\n\n\n(3.9)\n\n\n\n\n\n\nNet Income\n\n\n\n \n\n\n\n \n\n\n\n$97\n\n\n\n \n\n\n\n$167\n\n\n\n \n\n\n\n(41.9)\n\n\n\n\n\n\n% Margin(1)\n\n\n\n \n\n\n\n \n\n\n\n7.9%\n\n\n\n \n\n\n\n13.0%\n\n\n\n \n\n\n\n(5.1)\n\n\n\n\n\n\nAdjusted EBITDA(2)\n\n\n\n \n\n\n\n \n\n\n\n$381\n\n\n\...