The CW

Nexstar Media Group Reports Second Quarter Net Revenue of $1.24 Billion

Retrieved on: 
Tuesday, August 8, 2023
Media, Entertainment, Consumer, Technology, General Entertainment, TV and Radio, Other Consumer, Public Relations, Investor Relations, Marketing, Audio, Video, Advertising, Communications, Household, ACC, Mission Broadcasting, CW, FCC, WTTA, Food Network, The CW, WPHL-TV, LIBOR, KUSI-TV, SOFR, Journalism, NASCAR Xfinity Series, MVPD, DMA, Nexstar, EBITDA, Acquisition, NewsNation, Nexstar Media Group, Television, Transaction, Sport, Growth, Digital, Consolidated, Ecosystem, Adjustment, Environment, News, Food, Football, KRON-TV, Bookkeeping, Holding company, Video game, Pharmaceutical industry, Food industry, Arms industry, Music, Security (finance), Beauty salon

Perry A. Sook, Chairman and Chief Executive Officer of Nexstar Media Group, Inc. commented, “Nexstar again outperformed consensus expectations in the second quarter across all key financial metrics including net revenue, Adjusted EBITDA and Attributable Free Cash Flow.

Key Points: 
  • Perry A. Sook, Chairman and Chief Executive Officer of Nexstar Media Group, Inc. commented, “Nexstar again outperformed consensus expectations in the second quarter across all key financial metrics including net revenue, Adjusted EBITDA and Attributable Free Cash Flow.
  • − 67% of Nexstar’s second quarter net revenue was generated by distribution, digital and other revenue sources.
  • Second quarter political advertising revenue of approximately $9 million compared to $87 million in the prior year.
  • On a consolidated basis, second quarter Adjusted EBITDA was $331 million, representing a 26.7% margin, and second quarter attributable free cash flow was $100 million.

The CW Network Extends Contract of Dennis Miller as President

Retrieved on: 
Monday, August 7, 2023
Entertainment, Sports, Other Entertainment, TV and Radio, General Entertainment, Other Sports, General Sports, Sport, ACC, Nexstar, The, Golf, CW, LIV Golf, The CW, NASCAR Xfinity Series, Acquisition, NXST, Nexstar Media Group, Video game

The CW Network today announced that it has extended the contract of Dennis Miller as President, which will now run through 2027.

Key Points: 
  • The CW Network today announced that it has extended the contract of Dennis Miller as President, which will now run through 2027.
  • Mr. Miller joined the network as President in October 2022, following its acquisition by Nexstar Media Group, Inc. (NASDAQ: NXST).
  • By 2025, the network will be carrying more than 400 hours of sports programming over 48 weekends.
  • “Dennis has done an outstanding job since taking leadership of The CW,” said Perry Sook, Nexstar’s Chairman and Chief Executive Officer.

The CW Network and Hearst Television Expand and Extend Affiliation Partnership

Retrieved on: 
Tuesday, August 1, 2023
General Sports, TV and Radio, Entertainment, Sports, WKCF-TV, ACC, Basketball, NFL, Partnership, CW, WPXT-TV, KCWE-TV, The CW, WNNE-TV, Golf, Hearst, NASCAR Xfinity Series, KQCA-TV, LIV Golf, Hearst Television, INSIDE, Television

The CW Network (The CW) today announced that it has expanded and extended its network affiliation agreement with Hearst Television (Hearst).

Key Points: 
  • The CW Network (The CW) today announced that it has expanded and extended its network affiliation agreement with Hearst Television (Hearst).
  • With the comprehensive multi-year agreement, Hearst will continue carrying The CW’s entertainment and sports programming in six markets across the country, and commencing on September 1, will launch The CW on Hearst’s KQCA-TV, a new CW affiliate in Sacramento, California.
  • “Hearst has been an important partner for The CW throughout the years and we are extremely pleased to be launching a new CW affiliate in Sacramento,” said Dennis Miller, President of The CW Network.
  • “We look forward to working with Dennis and his team in this expanded partnership, continuing our relationship with the network.”

The NASCAR Xfinity Series Will Have an Exclusive New Home on The CW Network

Retrieved on: 
Friday, July 28, 2023
Motor Sports, TV and Radio, Entertainment, Sports, ACC, Basketball, NFL, FOX, Daytona International Speedway, CW, Phoenix Raceway, Senior, The CW, Emmy Awards, Chengdu JinXi Cultural Media and Production Company, Golf, NASCAR Xfinity Series, NBC, NASCAR Productions, Nexstar, DAYS, Name, LIV Golf, NASCAR, 2020 NASCAR Cup Series, Sport, Talladega Superspeedway, 27th Sports Emmy Awards, NXS, Nexstar Media Group, Television, Video game

The CW Network will become the exclusive home to the NASCAR Xfinity Series beginning in 2025 and extending through the 2031 racing season.

Key Points: 
  • The CW Network will become the exclusive home to the NASCAR Xfinity Series beginning in 2025 and extending through the 2031 racing season.
  • The CW will broadcast 33 live NASCAR Xfinity Series races annually, along with practice and qualifying events each weekend.
  • All NASCAR Xfinity Series races and ancillary content will be fully produced by the Emmy Award-winning NASCAR Productions group, in close collaboration with The CW Network.
  • Ultimately, bringing NASCAR Xfinity Series racing to The CW is a win-win for everyone - fans, drivers, teams, sponsors and affiliates.

Nexstar Media Group Appoints Tony Wells to Board of Directors

Retrieved on: 
Wednesday, July 26, 2023
TV and Radio, Technology, Marketing, Advertising, Entertainment, Communications, Telecommunications, Apps, Applications, Software, Audio, Video, Media, USAA, Marine Corps Expeditionary Medal, Music, Software as a service, Media Group, CW, Wells, Business, Compensated emancipation, ADT, Yelp, The CW, Mother, Acquisition, NewsNation, NXST, National Board of Trial Advocacy, Schneider Electric, Sport, Mothers Against Drunk Driving, United States Naval Academy, Professional Football Compensation Committee, Our Lady of Good Counsel High School, NYSE, Nexstar Media Group, Association of National Advertisers, Security (finance), Nexstar, Verizon Communications

Nexstar Media Group, Inc. (NASDAQ: NXST) announced the appointment of Tony Wells, 59, to its Board of Directors effective today, July 26, 2023.

Key Points: 
  • Nexstar Media Group, Inc. (NASDAQ: NXST) announced the appointment of Tony Wells, 59, to its Board of Directors effective today, July 26, 2023.
  • As a result of the recent declassification of the Board, Mr. Wells, and all directors, will stand for election at the 2024 annual meeting of stockholders.
  • “We are delighted to welcome Tony to the Board,” said Perry Sook, Nexstar Media Group’s Founder, Chairman and Chief Executive Officer.
  • Additionally, Wells served on the Board of Directors of his alma mater, Our Lady of Good Counsel High School, and was a member of the National Board of Directors for Mothers Against Drunk Driving.

Nexstar Names Media Industry Executive Michael Biard as President and Chief Operating Officer

Retrieved on: 
Tuesday, July 25, 2023
Other Technology, Technology, Entertainment, Telecommunications, TV and Radio, Columbia University, News, Fox Entertainment Group, FOX, Fox Sports, Tribune Media, Sport, Employment, Media Group, FAST, Friends, Marketing, SVOD, Fox, The CW, Senior advisor, Fox News, Media, Media General, ATSC 3.0, Nexstar, Acquisition, NewsNation, NXST, Loyola Law School, Knowledge, Growth, ATSC, Nexstar Media Group, Television, Fox Corporation, Management, Film industry

Nexstar Media Group, Inc. (NASDAQ: NXST) (“Nexstar” or the “Company”), today announced the appointment of media executive Michael Biard as President and Chief Operating Officer.

Key Points: 
  • Nexstar Media Group, Inc. (NASDAQ: NXST) (“Nexstar” or the “Company”), today announced the appointment of media executive Michael Biard as President and Chief Operating Officer.
  • Mr. Biard will report to Nexstar’s Chairman and Chief Executive Officer, Perry Sook, and assume his new duties on August 21, 2023.
  • Mr. Biard joins Nexstar following over 23 years at Fox Corporation (FOX) and its predecessor companies, including executive leadership positions covering multiple functional areas.
  • Mr. Carter joined Nexstar as Chief Financial Officer in August 2009, and was promoted to President and Chief Operating Officer in 2020.

Nexstar Media Group Enters Into Multi-Year Employment Agreement Extensions With Sean Compton, President, Networks, and Dana Zimmer, President, Distribution and Strategy

Retrieved on: 
Monday, July 17, 2023
TV and Radio, Media, Advertising, Communications, Online, General Entertainment, Mobile Entertainment, Entertainment, Network, Premiere Networks, Comcast, Executive, Tribune Media, Employment, IHeartMedia, Media Group, Ron Wilson (Clear Channel radio host), Tribune, Fox, The CW, Clear, CBS, Marketing, NBC, Discovery, Inc., Rewind TV, Nexstar, Acquisition, SNY, NewsNation, WGN (AM), ABC, WGN America, NBCUniversal, Growth, YES Network, Hill, Radio, Nexstar Media Group, Antenna TV, Television, Content, Distribution

Nexstar Media Group, Inc. (the “Company”) (Nasdaq: NXST), announced today that it extended the employment agreements of Sean Compton, President, Networks, and Dana Zimmer, President, Distribution and Strategy.

Key Points: 
  • Nexstar Media Group, Inc. (the “Company”) (Nasdaq: NXST), announced today that it extended the employment agreements of Sean Compton, President, Networks, and Dana Zimmer, President, Distribution and Strategy.
  • Perry Sook commented, “We are thrilled to extend the employment agreements of Sean and Dana whose leadership has helped drive our growth and shareholder returns.
  • Our strong industry position and positive growth prospects reflect Sean and Dana’s leadership and key contributions alongside the Nexstar Nation team.
  • Prior to joining Nexstar, Ms. Zimmer was President of Distribution and Marketing for Tribune Media Company from 2013 to 2019.

Atlantic Coast Conference Football and Basketball Coming to the CW Network This Fall

Retrieved on: 
Thursday, July 13, 2023
Licensing (Sports), Baseball, Other Sports, Sports, Entertainment, Mobile Entertainment, Football, Other Entertainment, General Entertainment, TV and Radio, ESPN, ACC, NCAA, Partnership, CW, Cincinnati Bearcats, CFP, The CW, NCAA tournament, NCAA Division I Football Championship Subdivision, Season, BCS National Championship Game, 2019 NCAA National Collegiate women's ice hockey tournament, History, Raycom Media, College Football Playoff, Raycom Sports, Elite Eight, Pittsburgh Panthers, Conference, Television, Final four, Sports equipment, Sport, Atlantic Coast Conference

The CW Network announced it has secured exclusive broadcast rights to 50 Atlantic Coast Conference (ACC) college football and basketball games each season through 2026-27.

Key Points: 
  • The CW Network announced it has secured exclusive broadcast rights to 50 Atlantic Coast Conference (ACC) college football and basketball games each season through 2026-27.
  • In addition to 13 football games, The CW will broadcast 28 men’s basketball games and nine women’s basketball games.
  • “We are committed to making The CW a destination for live, appointment-viewing sporting events,” said Dennis Miller, President, The CW Network.
  • The CW acquired the rights to these live ACC football and basketball games from Raycom Sports who sublicenses the rights from ESPN.

Nexstar Television Stations in Philadelphia, San Francisco, and Tampa to Become Affiliated With The CW Network on September 1

Retrieved on: 
Wednesday, June 14, 2023
Mobile, Wireless, Entertainment, Social Media, Apps, Applications, Technology, General Entertainment, Other Entertainment, TV and Radio, Marketing, Audio, Video, Advertising, Communications, NFL, Media Group, CW, WTTA, The CW, WPHL-TV, Golf, DMA, Nexstar, LIV Golf, NXST, Sport, Nexstar Media Group, KRON-TV, Television

Nexstar Media Group, Inc. (NASDAQ: NXST), today announced that its owned and operated television stations in three of the nation’s top-15 television markets, including WPHL-TV in Philadelphia (DMA #4), KRON-TV in San Francisco (DMA #10), and WTTA-TV in Tampa (DMA #13), will become affiliates of The CW Network on September 1, 2023.

Key Points: 
  • Nexstar Media Group, Inc. (NASDAQ: NXST), today announced that its owned and operated television stations in three of the nation’s top-15 television markets, including WPHL-TV in Philadelphia (DMA #4), KRON-TV in San Francisco (DMA #10), and WTTA-TV in Tampa (DMA #13), will become affiliates of The CW Network on September 1, 2023.
  • All three stations will begin carrying the network’s primetime entertainment, live sports, and special event programming at that time.
  • The fully ad-supported CW App, with more than 95 million downloads to date, is available for free to consumers on all major digital platforms.
  • Dennis Miller, President of The CW Network, commented, “These stations in Philadelphia, San Francisco, and Tampa have deep relationships with their viewers, advertisers, and the communities they serve; they are a great addition to the CW family and will help us better shape the future of the network.”

Nexstar Media Group Reports Record First Quarter Net Revenue of $1.26 Billion

Retrieved on: 
Tuesday, May 9, 2023
TV and Radio, Technology, Other Consumer, Public Relations, Investor Relations, Marketing, General Entertainment, Advertising, Entertainment, Communications, Audio, Video, Consumer, Mission Broadcasting, Partnership, Nextgen, CW, International, Digital, Olympic Games, Food Network, The CW, MyNetworkTV, ATSC 3.0, Golf, Woman, OTT, CBS, MVPD, Nexstar, LIV Golf, EBITDA, Acquisition, NewsNation, Nexstar Media Group, Transaction, Growth, Consolidated, YouTube TV, ATSC, Adjustment, News, Food, Television, Bookkeeping, Renewable energy, Holding company, Video game, Security (finance), Beauty salon

Beginning in the fourth quarter of 2022, Nexstar defined Adjusted EBITDA and Free Cash Flow as metrics excluding transaction and one-time expenses.

Key Points: 
  • Beginning in the fourth quarter of 2022, Nexstar defined Adjusted EBITDA and Free Cash Flow as metrics excluding transaction and one-time expenses.
  • Perry A. Sook, Chairman and Chief Executive Officer of Nexstar Media Group, Inc. commented, “Nexstar’s first quarter financial results once again outperformed consensus expectations across all key financial metrics including net revenue, Adjusted EBITDA and attributable free cash flow.
  • Record first quarter net revenue of $1.26 billion increased 3.9% from the prior year quarter.
  • ‒ 66% of Nexstar’s first quarter net revenue was generated by distribution, digital and other revenue sources.