---
schema_version: "secwatch.filing_event.v1"
accession: "0000950170-25-028342"
form_type: "8-K"
ticker: "NXST"
cik: "0001142417"
company_name: "NEXSTAR MEDIA GROUP, INC."
filed_at: "2025-02-27T23:59:59+00:00"
generated_at: "2026-05-26T01:02:51.417287+00:00"
event_type: "earnings"
sentiment: "positive"
materiality_score: 0.8
calibrated_materiality_score: 0.8
confidence: "high"
source: SEC EDGAR
---

# Nexstar posts record Q4 net revenue of $1.49B, net income $229M; guides 2025 EBITDA $1.5B-$1.595B

## Summary
- Q4 net revenue $1.488B (+14.1% YoY) driven by $254M political ad revenue (+$223M YoY).
- Q4 net income $229M (margin 15.4%), adjusted EBITDA $628M (margin 42.2%), adjusted free cash flow $411M.
- Distribution revenue $714M (+1.4%); returned $230M to shareholders in Q4, $820M in 2024 (68% of adj. FCF).
- Reduced shares outstanding by 8.9% in 2024; net leverage 2.91x; repaid $327M debt during the year.
- Full-year 2025 adjusted EBITDA guidance range $1.5B-$1.595B; dividend increased for 12th consecutive year.

## SEC filing metadata
- accession: 0000950170-25-028342
- form_type: 8-K
- ticker: NXST
- cik: 0001142417
- company_name: NEXSTAR MEDIA GROUP, INC.
- filed_at: 2025-02-27T23:59:59+00:00
- event_type: earnings
- sentiment: positive
- materiality_score: 0.8
- calibrated_materiality_score: 0.8
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1142417/000095017025028342/0000950170-25-028342-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1142417/000095017025028342/nxst-20250227.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0000950170-25-028342
- JSON: https://secwatch.observer/filing/0000950170-25-028342.json
- Plain text: https://secwatch.observer/filing/0000950170-25-028342.txt

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.