Business
Nexstar Media Group Reports Fourth Quarter Net Revenue of $1.29 Billion
Reduced 2025 Year-over-Year Losses at The CW by 32% Exceeding Financial Expectations Provides 2026 Standalone Adjusted EBITDA Guidance in a Range of $1.95
About this update from Nexstar Media Group, Inc.
[{"type":"text","content":"\nReduced 2025 Year-over-Year Losses at The CW by 32% Exceeding Financial Expectations\n\n\nProvides 2026 Standalone Adjusted EBITDA Guidance in a Range of $1.95 Billion to $2.05 Billion\n\n\n IRVING, Texas--(BUSINESS WIRE)--\nNexstar Media Group, Inc. (NASDAQ: NXST) (\"Nexstar\" or the \"Company\") today reported financial results for the fourth quarter ended December 31, 2025 as summarized below. Please visit Nexstar’s website to view the full press release.\n\n\nSTATEMENT FROM PERRY A. SOOK, FOUNDER, CHAIRMAN AND CEO\n\n\n“Nexstar delivered another quarter and year of solid financial results, while taking bold steps to better compete with big tech and big media by reinforcing our position as the nation’s leading local broadcasting company through our proposed acquisition of TEGNA Inc. In Q4 2025, we completed all outstanding 2025 renewals with our distribution partners and achieved better-than-expected growth in non-political advertising revenues. In 2025, NewsNation achieved its strongest year ever for news programming viewership bolstered by our commitment to fact-based, unbiased reporting. Benefiting from our sports programming strategy, The CW exceeded financial expectations for the year and ended 2025 as the 10th most-watched and second fastest growing ad-supported network overall. Our 2026 plan includes closing our acquisition of TEGNA, capitalizing on the political advertising opportunities presented by the mid-term elections, and continuing to optimize our business operations across the company, all of which we anticipate will contribute to shareholder value creation.”\n\n\n\n\n2025 Fourth Quarter Financial Summary\n\n\n\n\n\n\n\n\n($ in millions)\n\n\n\n\n\n\nThree Months Ended December 31,\n\n\n\n\n\n\n\nYear Ended December 31,\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\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\n\n\nDistribution\n\n\n\n\n\n\n$720\n\n\n\n\n\n\n \n\n\n\n\n\n\n\n$714\n\n\n\n\n\n\n \n\n\n\n\n\n\n\n0.8\n\n\n\n\n\n\n \n\n\n\n\n\n\n\n$2,924\n\n\n\n\n\n\n \n\n\n\n\n\n\n\n$2,928\n\n\n\n\n\n\n \n\n\n\n\n\n\n\n(0.1\n\n\n\n\n\n\n)\n\n\n\n\n\n\n\n\nAdvertising\n\n\n\n\n\n\n549\n\n\n\n\n\n\n \n\n\n\n\n\n\n\n758\n\n\n\n\n\n\n \n\n\n\n\n\n\n\n(27.6\n\n\n\n\n\n\n)\n\n\n\n\n\n\n\n1,959\n\n\n\n\n\n\n \n\n\n\n\n\n\n\n2,415\n\n\n\n\n\n\n \n\n\n\n\n\...