Business
Nexstar Media Group Reports Record Third Quarter Net Revenue of $1,157.0 Million
Net Revenue Drives Q3 Operating Income of $277.4 Million, Net Income of $169.2 Million, Adjusted EBITDA of $410.4 Million and Free Cash Flow of $251.7
About this update from Nexstar Media Group, Inc.
[{"type":"text","content":"\nNet Revenue Drives Q3 Operating Income of $277.4 Million, Net Income of $169.2 Million, Adjusted EBITDA of $410.4 Million and Free Cash Flow of $251.7 Million\n\nAcquired Digital Media Political News Platform, The Hill; Launched New Multicast Network, Rewind TV, to 50 Million Homes; and, Expanded Original Programming on National Cable News Network, NewsNation\n\nReturned $173.6 Million to Shareholders in the Third Quarter in the Form of Share Repurchases and Dividends\n\n IRVING, Texas--(BUSINESS WIRE)--\nNexstar Media Group, Inc. (NASDAQ: NXST) (“Nexstar” or “the Company”) today reported financial results for the third quarter ended September 30, 2021 as summarized below:\n\nSummary 2021 Third Quarter Highlights\n\n\n\n \n\n\n\n \n\n\n\nThree Months Ended\nSeptember 30,\n\n\n\n \n\n\n\n \n\n\n\n \n\n\n\n \n\n\n\n \n\n\n\n \n\n\n\nNine Months Ended\nSeptember 30,\n\n\n\n \n\n\n\n \n\n\n\n \n\n\n\n \n\n\n\n \n\n\n\n\n\n($ in thousands)\n\n\n\n \n\n\n\n2021\n\n\n\n \n\n\n\n \n\n\n\n2020\n\n\n\n \n\n\n\n \n\n\n\nChange\n\n\n\n \n\n\n\n \n\n\n\n2021\n\n\n\n \n\n\n\n \n\n\n\n2020\n\n\n\n \n\n\n\n \n\n\n\nChange\n\n\n\n \n\n\n\n\n\nCore Advertising Revenue\n\n\n\n \n\n\n\n$\n\n\n\n432,696\n\n\n\n \n\n\n\n \n\n\n\n$\n\n\n\n381,929\n\n\n\n \n\n\n\n \n\n\n\n \n\n\n\n+13.3\n\n\n\n%\n\n\n\n \n\n\n\n$\n\n\n\n1,267,868\n\n\n\n \n\n\n\n \n\n\n\n$\n\n\n\n1,097,548\n\n\n\n \n\n\n\n \n\n\n\n \n\n\n\n+15.5\n\n\n\n%\n\n\n\n\n\nPolitical Advertising Revenue\n\n\n\n \n\n\n\n \n\n\n\n12,387\n\n\n\n \n\n\n\n \n\n\n\n \n\n\n\n132,387\n\n\n\n \n\n\n\n \n\n\n\n \n\n\n\n(90.6\n\n\n\n)%\n\n\n\n \n\n\n\n \n\n\n\n26,306\n\n\n\n \n\n\n\n \n\n\n\n \n\n\n\n209,294\n\n\n\n \n\n\n\n \n\n\n\n \n\n\n\n(87.4\n\n\n\n)%\n\n\n\n\n\nTotal Television Advertising Revenue\n\n\n\n \n\n\n\n$\n\n\n\n445,083\n\n\n\n \n\n\n\n \n\n\n\n$\n\n\n\n514,316\n\n\n\n \n\n\n\n \n\n\n\n \n\n\n\n(13.5\n\n\n\n)%\n\n\n\n \n\n\n\n$\n\n\n\n1,294,174\n\n\n\n \n\n\n\n \n\n\n\n$\n\n\n\n1,306,842\n\n\n\n \n\n\n\n \n\n\n\n \n\n\n\n(1.0\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\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 Fee Revenue\n\n\n\n \n\n\n\n \n\n\n\n618,855\n\n\n\n \n\n\n\n \n\n\n\n \n\n\n\n538,376\n\n\n\n \n\n\n\n ...