secwatch.observer — SEC 8-K summary
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Issuer:     NEXSTAR MEDIA GROUP, INC. (NXST)
CIK:        0001142417
Form:       8-K
Filed at:   2024-11-07T23:59:59+00:00
Accession:  0000950170-24-122781
Event type: earnings
Sentiment:  positive
Materiality: 0.80
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Nexstar Q3 record net revenue $1.37B, net income $180M, adjusted EBITDA $510M
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- Record Q3 net revenue $1.37B (+20.7% YoY); distribution rev $719M (+20.2%), advertising rev $622M (+22.2%) with $154M political.
- Net income $180M vs $8M prior year; adjusted EBITDA $510M (+82.8%); adjusted free cash flow $327M (+303.7%).
- The CW operating losses reduced $36M YoY; NASCAR Xfinity and WWE NXT debuts drove double-digit audience gains.
- Returned $233M to shareholders via dividends and buybacks, reducing shares outstanding by 3.1% (1,061,852 shares repurchased at ~$167.16).
- Debt repayment $85M; total debt $6.7B; first lien net leverage 1.91x; new $1.5B share repurchase authorization announced July 2024.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1142417/000095017024122781/0000950170-24-122781-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1142417/000095017024122781/nxst-20241107.htm
  HTML page:      https://secwatch.observer/filing/0000950170-24-122781

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer