Nexstar Q2 net revenue $1.23B (-3.2% YoY), net income $91M (-14.2%), Adjusted EBITDA $389M (-6%)

NEXSTAR MEDIA GROUP, INC.

2025-Q2 EPS reported $6.43 revenue$2,462,000,000

Distribution revenue $733M (flat YoY); advertising revenue $475M (-9%) due to $36M drop in political to $9M.
Completed refinancing of credit facilities, reducing interest rate margin, expanding revolver capacity and extending maturities.
Returned $106M to shareholders: $56M dividends, $50M share buybacks (311,998 shares at ~$159.71); repaid $101M debt.
Adjusted Free Cash Flow $101M (+31.2%) driven by lower interest, capex, and operating expenses.
The CW ranked #8 network in total audience; NewsNation fastest growing basic cable network (+50% viewership YoY).

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