Nexstar Media Group, Inc. (NXST) is a leading diversified media company that leverages localism to connect people to the content that matters most to them. The company offers superior local news, entertainment, and sports programming across all digital platforms. Established in 1996, Nexstar is headquartered in Irving, Texas, and has grown to become the largest television operator in the U.S. in terms of a number of television stations.
Currently, Nexstar owns, operates, or provides services to 198 television stations reaching 68% of U.S. households. These stations, affiliates of NBC, CBS, ABC, FOX, MyNetworkTV, and The CW, are held in big, medium, and small markets, offering broad audience reach. Besides this, Nexstar has a wide array of digital and mobile media properties.
Nexstar is recognized for its industry-defining initiatives in delivering top-notch local content through different broadcast and digital platforms. Its guiding philosophy is 'Local First', emphasizing the importance of local content and community service.
Nexstar's pioneering content development and technological innovation have led to digital properties like community portal websites and mobile applications, making it easier for consumers to access local news and other programming at their convenience. It also provides digital publishing and content management platforms, digital video advertising platforms, and other digital media solutions for businesses.
Nexstar also pays utmost importance to corporate social responsibility, supporting various initiatives to improve the health, education, and well-being of the communities it serves. It facilitates massive raising and donating of funds for community health, disaster relief, education scholarships, and more.
Financially, Nexstar has been performing well consistently, generating robust revenue growth and maintaining healthy margins. Its diversified revenue streams, including from local and national advertising, political advertising, retransmission fees, and digital media, have helped sustain its financial health.
In conclusion, Nexstar Media Group, Inc. (NXST) portrays a perfect blend of traditional broadcasting and digital innovation, continually evolving to keep pace with the changing media landscape and fulfilling its commitment to serve the local communities. It stands as a unique, dynamic, and multifaceted media powerhouse, contributing significantly to the progression of the media industry.