Business
Nexstar Media Group Reports Record First Quarter Net Revenue of $1.26 Billion
Q1 Consolidated Net Revenue Drives Operating Income of $204 Million, Net Income of $88 Million, Consolidated Adjusted EBITDA of $491 Million and Attributable
About this update from Nexstar Media Group, Inc.
[{"type":"text","content":"\nQ1 Consolidated Net Revenue Drives Operating Income of $204 Million, Net Income of $88 Million, Consolidated Adjusted EBITDA of $491 Million and Attributable Free Cash Flow of $383 Million\n\n\nReturned $225 Million to Shareholders in Q1\n\n\n IRVING, Texas--(BUSINESS WIRE)--\nNexstar Media Group, Inc. (NASDAQ: NXST) (“Nexstar” or “the Company”) today reported financial results for the first quarter ended March 31, 2023 as summarized below:\n\n\nSummary 2023 First Quarter Highlights\n\n\n\n\nNEXSTAR - CONSOLIDATED(1)\n\n\n\n\n\n\n\n\n \n\n\n\n\n\n\n \n\n\n\n\n\n\nThree Months Ended March 31,\n\n\n\n\n\n\n \n\n\n\n\n\n\n \n\n\n\n\n\n\n%\n\n\n\n\n\n\n \n\n\n\n\n\n\n\n\n($ in millions)\n\n\n\n\n\n\n \n\n\n\n\n\n\n2023\n\n\n\n\n\n\n \n\n\n\n\n\n\n \n\n\n\n\n\n\n2022\n\n\n\n\n\n\n \n\n\n\n\n\n\n \n\n\n\n\n\n\nChange\n\n\n\n\n\n\n \n\n\n\n\n\n\n\n\nCore Advertising Revenue\n\n\n\n\n\n\n \n\n\n\n\n\n\n$417\n\n\n\n\n\n\n \n\n\n\n\n\n\n \n\n\n\n\n\n\n$428\n\n\n\n\n\n\n \n\n\n\n\n\n\n \n\n\n\n\n\n\n \n\n\n\n\n\n\n(2.6\n\n\n\n\n\n\n)\n\n\n\n\n\n\n\n\nPolitical Advertising Revenue\n\n\n\n\n\n\n \n\n\n\n\n\n\n \n\n\n\n\n\n\n8\n\n\n\n\n\n\n \n\n\n\n\n\n\n \n\n\n\n\n\n\n \n\n\n\n\n\n\n24\n\n\n\n\n\n\n \n\n\n\n\n\n\n \n\n\n\n\n\n\n \n\n\n\n\n\n\n(66.7\n\n\n\n\n\n\n)\n\n\n\n\n\n\n\n\nTotal Television Advertising Revenue\n\n\n\n\n\n\n \n\n\n\n\n\n\n$425\n\n\n\n\n\n\n \n\n\n\n\n\n\n \n\n\n\n\n\n\n$452\n\n\n\n\n\n\n \n\n\n\n\n\n\n \n\n\n\n\n\n\n \n\n\n\n\n\n\n(6.0\n\n\n\n\n\n\n)\n\n\n\n\n\n\n\n\n \n\n\n\n\n\n\n \n\n\n\n\n\n\n \n\n\n\n\n\n\n \n\n\n\n\n\n\n \n\n\n\n\n\n\n \n\n\n\n\n\n\n \n\n\n\n\n\n\n \n\n\n\n\n\n\n \n\n\n\n\n\n\n \n\n\n\n\n\n\n\n\nDistribution Revenue\n\n\n\n\n\n\n \n\n\n\n\n\n\n \n\n\n\n\n\n\n728\n\n\n\n\n\n\n \n\n\n\n\n\n\n \n\n\n\n\n\n\n \n\n\n\n\n\n\n668\n\n\n\n\n\n\n \n\n\n\n\n\n\n \n\n\n\n\n\n\n+9.0\n\n\n\n\n\n\n \n\n\n\n\n\n\n\n\nDigital Revenue\n\n\n\n\n\n\n \n\n\n\n\n\n\n \n\n\n\n\n\n\n92\n\n\n\n\n\n\n \n\n\n\n\n\n\n \n\n\n\n\n\n\n \n\n\n\n\n\n\n79\n\n\n\n\n\n\n \n\n\n\n\n\n\n \n\n\n\n\n\n\n+16.5\n\n\n\n\n\n\n \n\n\n\n\n\n\n\n\nOther Revenue\n\n\n\n\n\n\n \n\n\n\n\n\n\n \n\n\n\n\n\n\n12\n\n\n\n\n\n\n \n\n\n\n\n\n\n \n\n\n\n\n\n\n \n\n\n\n\n\n\n11\n\n\n\n\n\n\n \n\n\n\n\n\n\n \n\n\n\n\n\n\n+9.1\n\n\n\n\n\n\n \n\n\n\n\n\n\n\n\nNet Revenue\n\n\n\n\n\n\n \n\n\n\n\n\n\n$1,257\n\n\n\n\n\n\n \n\n\n\n\n\n\n \n\n\n\n\n\n\n$1,210\n...