Business
Nexstar Media Group Reports Second Quarter Net Revenue of $1.24 Billion
Q2 Consolidated Net Revenue Drives Operating Income of $179 Million, Net Income of $75 Million, Consolidated Adjusted EBITDA of $331 Million and Attributable
About this update from Nexstar Media Group, Inc.
[{"type":"text","content":"\nQ2 Consolidated Net Revenue Drives Operating Income of $179 Million, Net Income of $75 Million, Consolidated Adjusted EBITDA of $331 Million and Attributable Free Cash Flow of $100 Million\n\n\nQuarterly and Six Month Return of Capital to Shareholders of $189 Million and $414 Million, Respectively\n\n\n IRVING, Texas--(BUSINESS WIRE)--\nNexstar Media Group, Inc. (NASDAQ: NXST) (“Nexstar” or the “Company”) today reported financial results for the second quarter and six months ended June 30, 2023 as summarized below:\n\n\nSummary 2023 Second Quarter Highlights\n\n\n\n\nNEXSTAR - CONSOLIDATED(1)\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n \n\n\n\n\n\n\n \n\n\n\n\n\n\nThree Months Ended June 30,\n\n\n\n\n\n\n \n\n\n\n\n\n\n \n\n\n\n\n\n\n%\n\n\n\n\n\n\n \n\n\n\n\n\n\n \n\n\n\n\n\n\nSix Months Ended June 30,\n\n\n\n\n\n\n \n\n\n\n\n\n\n \n\n\n\n\n\n\n%\n\n\n\n\n\n\n \n\n\n\n\n\n\n\n\n($ 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\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$404\n\n\n\n\n\n\n \n\n\n\n\n\n\n \n\n\n\n\n\n\n$413\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(2.2\n\n\n\n\n\n\n)\n\n\n\n\n\n\n \n\n\n\n\n\n\n$821\n\n\n\n\n\n\n \n\n\n\n\n\n\n \n\n\n\n\n\n\n$841\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(2.4\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\n9\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\n87\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(89.7\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\n17\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\n110\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(84.5\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$413\n\n\n\n\n\n\n \n\n\n\n\n\n\n \n\n\n\n\n\n\n$500\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(17.4\n\n\n\n\n\n\n)\n\n\n\n\n\n\n \n\n\n\n\n\n\n$838\n\n\n\n\n\n\n \n\n\n\n\n\n\n \n\n\n\n\n\n\n$951\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(11.9\n\n\n\n\n\n\n)\n\n\n\n\n\n\n\n\n...