Nexstar Media Group
Nexstar Media Group is the largest local broadcasting group in the U.S., owning over 200 stations and producing more than 310,000 hours of programming annually, while also operating a significant digital division and several network affiliates.
Company Overview
Nexstar Media Group is a leading American media company that owns the largest local broadcasting group in the U.S. With over 200 owned or partner stations in 117 markets, the company reaches approximately 220 million people. The company produces and distributes over 310,000 hours of news, sports, and entertainment programming each year, with a portfolio that includes major network affiliates like ABC, CBS, NBC, Fox, and The CW.
Digital Presence
Nexstar Media Group's digital division includes 140 local websites and 278 local mobile apps, positioning it among the top ten digital news and information properties in the U.S. ranked by Comscore. The division also features BestReviews, a comprehensive product review platform, enhancing its digital footprint. The company operates significant digital properties such as NewsNation, which is the fastest-growing national cable news network in primetime, and various other platforms accessible via major cable, satellite providers, and streaming services.
Broadcast Networks
Nexstar Media Group owns a 75% stake in The CW Network, delivering 15 hours of primetime entertainment programming per week and over 300 hours of sports annually. Other networks operated by Nexstar include NewsNation, Antenna TV, Rewind TV, and WGN Radio in Chicago. Antenna TV reaches 91% of TV households in the U.S., and Rewind TV, launched in September 2021, offers classic television sitcoms from the 1980s and 1990s.
Financial Performance
In 2023, Nexstar Media Group reported a net revenue of $4.93 billion. This revenue underscores its position as a major player in both the broadcasting and digital media sectors. The company's diverse portfolio, extensive distribution network, and ownership stakes in various networks contribute significantly to its financial success.
Corporate Social Responsibility
Nexstar Media Group's 2023 ESG Report highlights its commitment to environmental, social, and governance practices. The company's charitable foundation donates approximately $350,000 annually to public charities and non-profit organizations. Through its Remarkable Women initiative, the company honors women's contributions to public policy, social progress, and quality of life. These efforts reflect Nexstar's commitment to social responsibility and community engagement.