Publicly traded American telecommunications conglomerate which is controlled by the family of company founder Julian Sinclair Smith. [7][8][9], On March 20, 2009, Nexstar operated television stations that were owned by Four Points Media Group, through an outsourcing agreement. Dividends. The transaction involving WPIX included a $75 million option condition allowing Nexstar to buy WPIX back between March 31, 2020 and the end of 2021. (previous page) () This list may not reflect recent changes (). WYOU's staff who were not laid off were fired by Nexstar, hired by Mission and eventually rehired by Nexstar. Pages in category "Nexstar Media Group" The following 200 pages are in this category, out of approximately 309 total. [37], On March 13, 2014, Nexstar announced that it would purchase Internet Broadcasting, for $20 million. [57][58], On April 3, 2019, Marshall Broadcasting Group sued Nexstar for breach of contract, alleging that the company was trying to "undermine" its operations so it could buy back the stations at a later date and lower cost in the present regulatory environment. Reviews from Nexstar Media Group employees about Nexstar Media Group culture, salaries, benefits, work-life balance, management, job security, and more. Our industry-wide leadership in delivering exceptional service to the local communities in our markets continues to be a key component of our success and long-term growth.”, © 1998-2021, Nexstar Media Group, Inc. | All rights reserved, Learn More About The Nexstar Media Charitable Foundation, Nexstar Media Inc. Appoints Jim Rose as Vice President and General Manager of its Broadcast and Digital Operations in San Francisco, California, Major Broadcasters Launch NEXTGEN TV on Six Local Television Stations in Grand Rapids, MI, 31 Nexstar Media Inc. Television Stations Win 47 Regional Edward R. Murrow Awards For Outstanding Journalism And Exceptional Locally Produced News Programming, Veteran Journalist Leland Vittert Joins NewsNation as Anchor / Correspondent, Nexstar Media Group Reports Record First Quarter Net Revenue of $1,113.9 Million. The combined company became known as Nexstar Media Group, and owns 171 stations, serving an estimated 39% of U.S. households. [42] On November 17, 2015, Nexstar announced its intent to purchase West Virginia Media Holdings' stations (WOWK-TV in Charleston, WBOY-TV in Clarksburg, WVNS-TV in Ghent, and WTRF-TV in Wheeling) for $130 million. Mission Broadcasting then paid Nexstar to operate and control the production and newsgathering operations while Mission kept the sales and management team. Nexstar's offer was seen by analysts as a maneuver to torpedo the merger of Media General with Meredith Corporation (announced on September 8). Wikipedia. ET Contents: Prepared Remarks; Questions and Answers; Call … [38][39][40][41], On February 2, 2015, Nexstar finalized its acquisition of Yashi, a location focused video advertising and programmatic technology company, for $33 million. The Broadcasting Division operates, … Publicly traded American telecommunications company with headquarter offices in Irving, New York City, and Chicago. [61][62], On August 1, 2019, the United States Department of Justice approved the deal between Nexstar Media Group and Tribune Media. [13] The network also moved its affiliation in Springfield, Missouri from KSFX-TV (operated in a duopoly with area CBS affiliate KOLR) to upstart MyNetworkTV affiliate KRBK on September 1, 2011, with both stations becoming independents. [Operator Instructions] I would now like to turn the call over to … Nexstar's digital media products and services focus on providing innovative solutions to audiences, clients and any business looking to gain an edge in the shifting digital landscape. Nexstar Media Group, Inc. is America’s largest local television and media company with 198 full power stations (including partner stations) in 116 markets addressing nearly 62% of U.S. television households and a growing digital media operation. On January 15, 2020, Nexstar announced a national newscast called NewsNation on WGN America. The company is the largest television station owner in the United States, owning 197 television stations across the U.S., most of which are affiliates with the four "major" U.S. television networks. Nexstar Media Group, Inc. (NASDAQ:NXST) - Equities research analysts at Barrington Research boosted their Q2 2021 earnings per share (EPS) estimates for Nexstar Media Group in a report released on Wednesday, May 5th. The company paid Meredith Corporation (whom Media General had previously proposed a merger with) a termination fee of $60 million and gave Meredith right of first refusal to acquire any broadcast or digital properties that may be divested during the purchase. Comparatively, Nexstar Media Group has a beta of 1.92, indicating that its stock price is 92% more volatile than the S&P 500. Nexstar Media Group (Issuer) Form 4 Statement of changes in beneficial ownership of securities This page was last updated on 4/7/2021 by MarketBeat.com Staff. [68] On March 1, 2021, the WGN America channel was renamed NewsNation. [53] The merger would give the company 216 stations in 118 markets, placing it just below the FCC's market cap of 39% of TV households and making it the largest owner of television stations in the United States. [54][55][56], On March 20, 2019, Nexstar announced that it would divest 19 stations to the E. W. Scripps Company and Tegna Inc. for a total sum of $1.32 billion, with Scripps receiving eight stations (WPIX, WSFL-TV, WTKR and WGNT, WTVR-TV, WXMI, KSTU, and KASW), and Tegna eleven (WATN-TV and WLMT, WTIC-TV and WCCT-TV, WOI-DT and KCWI, WNEP, WPMT, WQAD-TV, WZDX, and KFSM-TV). [10], In 2011, Nexstar and Fox entered into a dispute over terms of reverse compensation; this occurred as Fox began to aggressively seek shares of earnings from retransmission consent agreements with cable and satellite operators as part of affiliation agreement renewals between station groups with affiliates whose affiliation contracts already expired (and carrying the network's programming without a contractual agreement) or were near expiration. As of December 31, 2020, it provided sales, programming, and other services … [25][26][27][28][29] On November 16, Media General rejected the offer but agreed to negotiate after concluding its merge with Meredith. The Broadcasting Division operates, … The sale closed on March 2, 2020.[66]. Nexstar Media Group is America's largest local television and media company with 197 full power stations (including partner stations) in 115 markets addressing nearly 63% of US television households and a growing digital media operation. [30], On January 27, 2016, Media General announced that it had entered into a definitive agreement to be acquired by Nexstar in a deal valued at $17.14 per share, valuing the company at $4.6 billion plus the assumption of $2.3 billion debt. Fox dropped its affiliation from Nexstar-owned/managed stations in four markets, with three of the replacement stations adding Fox in addition to existing affiliations with the MyNetworkTV program service (owned by Fox parent company News Corporation). [17][18] Nexstar would purchase KRBK in late 2018, restoring its ownership of the Fox affiliation in the Springfield, Missouri market. [45][46][47][48] However, on May 8, 2017, it was announced that Tribune reached a deal to be acquired by Sinclair Broadcast Group. 1 Nexstar Broadcasting Group 1.1 1996–2006 1.2 2006–2017 2 Nexstar Media Group 2.1 2017–present The company took over the stations' non-license assets under a time brokerage agreement in December 2015 pending the formal completion of the deal, expected in late 2016. The company had also recently acquired competitor Inergize Digital through its purchase of assets from Newport Television, followed by Enterprise Technology Group, a spun-off joint venture between LIN Media and Fox Television Stations. [70][71], On December 16, 2020, Nexstar announced it was purchasing BestReviews from Tribune Publishing for $160 million. They have 198 total stations that reach 62% of the US households. Nexstar plans to divest some stations and "non-core" assets as part of the merger. If Media General agreed to the counteroffer within a 20-day period, Nexstar would expand its portfolio to 114 television stations, pending spinoffs in markets where both own stations and federal approval. [24], On September 28, 2015, Nexstar announced that it presented an unsolicited offer to buy Media General for $4.1 billion (including debt). Good day and welcome to the Nexstar Media Group First Quarter 2021 Results Call. On October 22, 2020, Nexstar underwent a corporate reorganization, under which its primary subsidiaries of Nexstar Broadcasting and Nexstar Digital were merged into the operating subsidiary Nexstar, Inc.[69], A carriage dispute with Dish Network began on December 2, 2020 and ended by Christmas Eve, which resulted in the removal of at least 164 Nexstar stations in 115 markets, covering about 63% of TV homes, from its services. [43] The sale was completed on January 31, 2017. Nexstar Media Group, Inc. (NASDAQ:NXST) Q4 2020 Earnings Call Feb 23, 2021, 9:00 a.m. [6] Nexstar founder Perry Sook said that WYOU would be Nexstar's flagship station, keeping an office off the newsroom for years. Of those stations, only WPIX was not associated with a duopoly, but rather its [49] On May 26, 2017, it was reported by DealReporter that Nexstar may be considering a bid to acquire Tegna Inc., although such a deal would likely require significant divestments due to ownership conflicts and exceeding the ownership cap. Nexstar Media Group is the largest owner of television stations in the United States, … Sign up for MarketBeat All Access to gain access to MarketBeat's full suite of research tools: Best-in-Class Portfolio Monitoring. Nexstar Media Group (NASDAQ: NXST) is a leading diversified media company that leverages localism to bring new services and value to consumers and advertisers through its traditional media, digital and mobile media platforms. 58 reviews from Nexstar Media Group employees about Nexstar Media Group culture, salaries, benefits, work-life balance, management, job security, and more. [13] Nexstar chose to drop Fox from WFXW in Terre Haute, Indiana and re-affiliate with ABC on September 1, 2011 (becoming the only Nexstar station thus far to affiliate with another network following the removal of the Fox affiliation) as part of a long-term renewal agreement between Nexstar and ABC for the group's nine existing ABC stations, reversing a 1995 switch that saw Terre Haute losing over-the-air carriage of ABC programs (since then, ABC has been seen in the market via Indianapolis affiliate WRTV on area cable and satellite providers);[14][15] the Fox affiliation then moved to a digital subchannel of CBS affiliate WTHI-TV which also added MyNetworkTV as a secondary affiliation. Nexstar Media Group pays an annual dividend of $2.80 per share and has a dividend yield of 1.8%. This began the first ever 'shared-services' agreement between stations. 9 no longer Chicago's very own", "Nexstar to Launch National Primetime Newscast on WGN America", "WGN America Launches Primetime Newscast With A Promise: Just The Facts", "Dish Network customers lose Nexstar's local TV stations in 115 markets over failed negotiations", "DISH And Nexstar Announce Multi-year Carriage Deal, Restores Local Nexstar Stations On DISH", "Irving-based Nexstar to buy product review site BestReviews from Tribune Publishing for $160 million", sorted by primary channel network affiliations, https://en.wikipedia.org/w/index.php?title=Nexstar_Media_Group&oldid=1019979112, Television broadcasting companies of the United States, Short description is different from Wikidata, Articles with unsourced statements from June 2017, Creative Commons Attribution-ShareAlike License, Nexstar Broadcasting Group, Inc. (1996–2017), This page was last edited on 26 April 2021, at 14:02. Barrington Research analyst J. The sale was completed on September 28 of that year. Nexstar’s television and digital media operations have over 12,400 employees across 116 markets who are committed to delivering superior, trust worthy local news, sports, entertainment programming and content to local viewers while offering businesses and advertisers unparalleled marketing opportunities across screens and devices. [19], On April 24, 2013, Nexstar announced that it would acquire the entire group of Communications Corporation of America, KMSS-TV, KPEJ-TV, and most of the ComCorp-managed stations that are owned by White Knight Broadcasting would be sold to Mission Broadcasting while WEVV-TV and White Knight Broadcasting's KSHV-TV would be sold to a female-controlled company called Rocky Creek Communications, with Nexstar assuming operational control of those stations. Today, Nexstar produces over 270,000 hours of local programming weekly and plans to expand its local programming over the coming year. Its wholly owned operating subsidiary, Nexstar Media Inc., consists of three divisions: Broadcasting, Digital, and Networks. It also operates all of the stations owned by affiliated companies, such as Mission Broadcasting and Vaughan Media, under local marketing agreements, and operates a ca… In Indiana, two markets saw Fox go from a primary affiliation of one station to joining an existing MyNetworkTV-affiliated digital subchannel of a competing Big Three station, with MyNetworkTV going to a secondary affiliation: in Evansville, Fox moved from WTVW (which then became an independent station and later joined The CW) to a MyNetworkTV-affiliated subchannel of CBS affiliate WEVV-TV on July 1, while in Fort Wayne, the Fox affiliation moved from WFFT-TV to a MyNetworkTV-affiliated subchannel of NBC affiliate WISE-TV on August 1. [50], On November 14, 2018, after Tribune cancelled its proposed sale to Sinclair, it was reported that Nexstar was a leading bidder to acquire Tribune. [4] The first television station bought by Nexstar was WYOU in Scranton, Pennsylvania. Looking at the universe of stocks we cover at Dividend Channel, on 5/13/21, Church & Dwight Co Inc (Symbol: CHD), Wingstop Inc (Symbol: WING), and Nexstar Media Group … The divestitures will allow Nexstar to comply with FCC ownership rules (specifically pertaining to national market coverage for station owners) in advance of the approval proceedings of the merger of both groups (Nexstar already owns NBC affiliate WTWO and operates ABC affiliate WAWV-TV in Terre Haute, and plans to acquire Media General-owned CBS affiliate WANE-TV in Fort Wayne). Today, Nexstar delivers unique locally-produced programming and content to approximately 62% percent of U.S. television households, while offering local businesses, advertisers and brands the ability to connect with local consumers through its premium local multi-platform marketing opportunities. WYOU's sales staff was kept in Scranton while the production and news operations were moved to WBRE's offices in Wilkes-Barre. It also operates all of the stations owned by affiliated companies, such as Mission Broadcasting and Vaughan Media, under local marketing agreements,[2][3] and operates a cable news and entertainment channel, NewsNation. [44], On April 30, 2017, the Wall Street Journal reported that there were competing bids for Tribune Media from Nexstar and a partnership between 21st Century Fox and private equity firm Blackstone Group. They also host 120 … In July 2012, Nexstar agreed to purchase 11 stations and Inergize Digital Media from Newport Television with two stations going to affiliate Mission Broadcasting. Nexstar Media Group (NASDAQ: NXST) is a leading diversified media company that leverages localism to bring new services and value to consumers and advertisers through its traditional media, digital and mobile media platforms. Nexstar immediately took over the stations' operations through a time brokerage agreement. Nexstar bought WYOU from Diversified Communications. Nexstar Media Group, Inc. is America’s largest local television and media company with 198 full power stations (including partner stations) in 116 markets addressing nearly 62% of U.S. television households and a growing digital media operation. Taken together, Nexstar’s digital properties would be among the top ten in the U.S. as ranked by Comscore, Inc. based on online user activity. 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