secwatch.observer — SEC 8-K summary
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Issuer:     NEXSTAR MEDIA GROUP, INC. (NXST)
CIK:        0001142417
Form:       8-K
Filed at:   2025-11-06T23:59:59+00:00
Accession:  0001193125-25-268039
Event type: m_and_a
Sentiment:  positive
Materiality: 0.90
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Nexstar to acquire TEGNA for $6.2B; Q3 revenue $1.20B, adjusted EBITDA $358M
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- Definitive agreement to acquire TEGNA Inc. for $6.2B; expected close second half 2026, subject to regulatory approvals.
- Q3 2025 net revenue $1.20B, down 12.3% YoY due to lower political advertising.
- Net income $65M, down 63.9% YoY; adjusted EBITDA $358M, down 29.8%.
- Distribution revenue $709M (-1.4%); advertising revenue $476M (-23.5%) due to $145M drop in political.
- Adjusted free cash flow $166M, down 49.2%; debt repaid $25M, dividends $56M.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1142417/000119312525268039/0001193125-25-268039-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1142417/000119312525268039/nxst-20251106.htm
  HTML page:      https://secwatch.observer/filing/0001193125-25-268039

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