Monitor the TEGNA acquisition progress and political advertising revenue recovery in 2026, as these could impact Nexstar's financial performance despite current headwinds.
Price Chart
Executive Summary
Nexstar Media Group reported a 13.4% year-over-year decline in Q4 2025 revenue to $1.29 billion, primarily due to lower political advertising. Net loss was $170 million compared to a $229 million profit in the prior year. The company provided 2026 standalone Adjusted EBITDA guidance of $1.95-$2.05 billion and highlighted progress on its $6.2 billion acquisition of TEGNA Inc.
Key Financial Metrics
Key Facts
- Q4 2025 net revenue was $1.29 billion, down 13.4% YoY
- Net loss of $170 million vs. $229 million profit in Q4 2024
- Adjusted EBITDA was $433 million, down 31.1% YoY
- 2026 standalone Adjusted EBITDA guidance of $1.95-$2.05 billion
- Proposed $6.2 billion acquisition of TEGNA Inc. is progressing
Financial Impact
Revenue decreased by $199 million year-over-year
Segment Breakdown
| Segment | Revenue | Growth |
|---|---|---|
| Distribution | $720.0M | +0.8% |
| Advertising | $549.0M | -27.6% |
| Other | $20.0M | +25.0% |
Risk Factors
- Continued decline in advertising revenue
- Delays or failure of the TEGNA acquisition
- Integration challenges with TEGNA if acquisition completes
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 5 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 8-K Filing (Primary) | 0001193125-26-073384 |
| Document: nxst-20260226.htm | 0001193125-26-073384 |
| Document: 0001193125-26-073384-index-headers.html | 0001193125-26-073384 |
| Document: 0001193125-26-073384-index.html | 0001193125-26-073384 |
| Document: 0001193125-26-073384.txt | 0001193125-26-073384 |
Track record builds as more directional reports settle.
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Oct 22, 2026 5d ago | Press Release | $167.34 | awaiting T+20 | — | $166.26 (−0.65%) |
Oct 13, 2026 14d ago | Press Release | $160.56 | awaiting T+20 | — | $166.26 (+3.55%) |
Aug 24, 2026 9w ago | Insider Cluster | $189.39 $165.57 | ▼ −12.58% | ▼ −12.83% | $166.26 (−12.21%) |
Aug 17, 2026 10w ago | Court Ruling | $182.57 $163.67 | ▼ −10.35% | ▼ −8.61% | $166.26 (−8.93%) |
Aug 6, 2026 11w ago | 8-K | $187.97 $177.67 | ▼ −5.48% | ▼ −6.08% | $166.26 (−11.55%) |
Aug 3, 2026 12w ago | 8-K | $192.49 $181.14 | ▼ −5.90% | ▼ −7.14% | $166.26 (−13.63%) |
Jun 30, 2026 17w ago | Court Ruling | $178.59 $185.80 | ▲ +4.04% | ▲ +5.07% | $166.26 (−6.90%) |
Jun 29, 2026 17w ago | Insider Buy | $170.73 $183.31 | ▲ +7.37% | ▲ +7.65% | $166.26 (−2.62%) |
Jun 16, 2026 19w ago | 8-K | $172.11 $175.56 | ▲ +2.00% | ▲ +1.80% | $166.26 (−3.40%) |
Jun 15, 2026 19w ago | Insider Cluster | $172.29 $175.46 | ▲ +1.84% | ▲ +2.59% | $166.26 (−3.50%) |
US Market Status
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