NXST

EX-99.1

2 nxst-ex99_1.htm

EX-99.1

EX-99.1

EXHIBIT 99.1

SECOND QUARTER 2026

EARNINGS RELEASE

August 6, 2026

NEXSTAR MEDIA GROUP REPORTS RECORD QUARTERLY NET REVENUE OF $2.0 BILLION

Q2 Net Revenue Drives Net Income of $113 Million, Adjusted EBITDA of $633 Million, Net Cash Provided by Operating Activities of $298 Million and Adjusted Free Cash Flow of $238 Million

Returned $57 million to shareholders in dividends and repaid $409 million of debt in Q2 2026

STATEMENT FROM PERRY A. SOOK, FOUNDER, CHAIRMAN AND CEO

“In a record second quarter, Nexstar generated all-time high quarterly revenue driven by our acquisition of TEGNA Inc., strong political advertising revenue, incremental advertising revenue from highly rated FIFA World Cup events on our FOX-affiliated stations and continued streaming advertising revenue growth in Nexstar’s legacy local markets. During the quarter, NewsNation maintained its position as the fastest-growing ad-supported cable news network in prime time and total day viewership. At the same time, The CW accelerated its transformative evolution through distribution partnerships with ESPN and Roku, which will expand The CW’s reach to new streaming audiences. Looking forward, we are well positioned for strong free cash flow generation in the second half of 2026 and we remain confident that the case challenging our acquisition of TEGNA is without merit and we will continue to vigorously defend it.”

2026 Second Quarter Financial Summary

($ in millions)

Three Months Ended June 30,

Six Months Ended June 30,

2026

2025

% Change

2026

2025

% Change

Distribution

$1,116

$733

52.3

$1,954

$1,495

30.7

Advertising

862

475

81.5

1,409

934

50.9

Other

15

21

(28.6)

26

33

(21.2)

Net Revenue

$1,993

$1,229

62.2

$3,389

$2,462

37.7

Net Income

$113

$91

24.2

$273

$188

45.2

% Margin(1)

5.7%

7.4%

(1.7)

8.1%

7.6%

0.5

Adjusted EBITDA(2)

$633

$389

62.7

$1,103

$770

43.2

% Margin(1)

31.8%

31.7%

0.1

32.5%

31.3%

1.2

Net Cash Provided by

Operating Activities

$298

$247

20.6

$587

$584

0.5

Adjusted Free Cash Flow(2)

$238

$101

135.6

$658

$449

46.5

(1) Net Income margin is Net Income as a percentage of Net Revenue. Adjusted EBITDA margin is Adjusted EBITDA as a percentage of Net Revenue.

(2) Please refer to the “Definitions and Disclosures Regarding Non-GAAP Financial Information” section herein, the reconciliations at the end of this press release.

1

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SECOND QUARTER 2026

EARNINGS RELEASE

Company and Business Highlights

• Returned $57 million to shareholders in dividend payments and repaid $409 million in debt in the second quarter. (May 2026)

• TEGNA appointed experienced broadcast executive Patrick Paolini to Chief Executive Officer to lead the company and oversee all aspects of its business including operations, local journalism, revenue growth, and strategic initiatives; affirming TEGNA's independent operations under Nexstar ownership. (May 2026)

• Completed a multi-year agreement with CBS to extend affiliations in 36 markets. Replacing the CBS affiliation with a CW affiliation in four markets (Jackson, MS, Birmingham, AL, Bismarck, ND, and Rapid City, SD) and promoting FOX to replace CBS as our primary network in Albuquerque, NM. Expanding local news in Greenville-Spartanburg, SC, among other markets. (July 2026)

• Announced we will be launching new daily primetime local newscasts on stations in Dallas and Phoenix. (July 2026)

• Continued to advance CW's growth strategy by expanding its audience, securing new programming, and launching new streaming distribution partnerships.

– Grew total day audience 10% year-over-year and remained the #9 rated ad-supported network in June. (June 2026)

– Extended access and reach of CW Sports programming to new audiences and advertisers by partnering with ESPN, the leading digital destination for sports, to make the ESPN App the exclusive streaming home for all CW Sports live events beginning in Summer 2026. (April 2026)

– Extended access and reach of CW entertainment programming to new audiences and advertisers by partnering with Roku, the #1 streaming platform in the US by hours streamed, to bring next-day streaming of CW entertainment programming and WWE NXT to The Roku Channel beginning in Fall 2026. (April 2026)

– Expanded The CW’s partnership with WWE to include 20 NXT Premium Live Events in a multi-year deal. (April 2026)

• NewsNation remained the #1 fastest-growing cable news network in prime time and total day in June 2026, growing 44% in total viewers compared to June 2025. (June 2026)

• Launched ATSC 3.0 in Cleveland, Ohio, completing the deployment of the next-generation broadcast standard across all of the top 25 designated market areas (DMAs) across the industry. (July 2026)

• Earned 34 Regional Edward R. Murrow Awards for outstanding journalism and exceptional locally produc

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8-K

0001142417false00011424172026-02-262026-02-26

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): February 26, 2026

NEXSTAR MEDIA GROUP, INC.

(Exact name of Registrant as Specified in Its Charter)

Delaware

000-50478

23-3083125

(State or Other Jurisdiction of Incorporation)

(Commission File Number)

(IRS Employer Identification No.)

545 E. John Carpenter Freeway Suite 700

Irving, Texas

75062

(Address of Principal Executive Offices)

(Zip Code)

Registrant’s Telephone Number, Including Area Code: 972 373-8800

Not Applicable

(Former Name or Former Address, if Changed Since Last Report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

☐

Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐

Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐

Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐

Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

Title of each class

Trading Symbol(s)

Name of each exchange on which registered

Common Stock

NXST

NASDAQ Global Select Market

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§ 230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§ 240.12b-2 of this chapter). Emerging growth company ☐ If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Item 2.02. Results of Operations and Financial Condition.

On February 26, 2026, Nexstar Media Group, Inc. issued a press release announcing its financial results for the quarter ended December 31, 2025. A copy of the press release is attached to this Current Report on Form 8-K as Exhibit 99.1 and is incorporated herein by reference. Item 9.01 Financial Statements and Exhibits.

Exhibit No.

Description

99.1

Press Release of Nexstar Media Group, Inc. dated February 26, 2026.

104

Cover Page Interactive Data File (embedded within the Inline XBRL document).

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.

NEXSTAR MEDIA GROUP, INC.

Date:

February 26, 2026

By:

/s/ Lee Ann Gliha

Name:

Lee Ann Gliha

Title:

Chief Financial Officer

(Principal Financial Officer)