Nexstar (NXST) Q4 2025 Earnings Call Transcript

Motley Fool Transcribing, The Motley Fool

Thu, February 26, 2026 astatine 10:38 AM CST 37 min read

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Thursday, February 26, 2026 astatine 10 a.m. ET

• Chairman and Chief Executive Officer — Perry A. Sook

• President and Chief Operating Officer — Michael Biard

• Executive Vice President and Chief Financial Officer — Lee Ann Gliha

Perry A. Sook: Thank you, Joseph, and bully morning, everyone. Thank you for joining america today. Michael Biard, our Chief Operating Officer, and Lee Ann Gliha, our Chief Financial Officer, are with maine connected the telephone arsenic always. Nexstar Media Group, Inc.'s 4th fourth fiscal results capped a twelvemonth marked by beardown execution and bold strategical enactment to signifier the aboriginal of the business. We delivered connected each cardinal operational priorities successful 2025, including successfully reviewing and renewing organisation agreements representing implicit 60% of our subscriber base, further elevating The CW and NewsNation to top-tier networks, extending our affiliation agreements with some ABC and MyNetworkTV, and pursuing regulatory betterment done our landmark statement to get TEGNA.

These achievements, unneurotic with the instrumentality of midterm predetermination governmental advertizing successful 2026, acceptable the signifier for a precise breathtaking twelvemonth of maturation up for Nexstar Media Group, Inc., arsenic reflected successful our stand-alone Nexstar Media Group, Inc. pre-TEGNA full-year adjusted EBITDA guidance of $1,950,000,000 to $2,050,000,000. The rationale for the Nexstar Media Group, Inc.–TEGNA operation is becoming progressively clear. Consolidation is accelerating crossed the broader media industry, from the Hulu-Fubo transaction to the projected Charter merger to the upcoming merchantability of Warner Bros. Discovery.

Against this backdrop, our transaction represents a pivotal and captious accidental to found a model for section tv broadcasters to much efficaciously vie with large tech and with large media portion strengthening our quality to present high-quality section journalism to our communities. I americium pleased to study that we stay connected way and are making large advancement connected our way to closing. Our HSR filings and our FCC licence transportation applications person each been submitted. We person responded to each inquiries from the DOJ, the FCC, and the authorities attorneys general, and we proceed to enactment with each regulatory and ineligible bodies to fulfill immoderate remaining requests.

Our anticipation for adjacent is by the extremity of 2026 and that remains unchanged. If we look astatine caller manufacture strategical activity, broadcast has been a consistently coveted plus due to the fact that of the scale, reach, and results it delivers to premium programming, particularly sports. The numbers talk for themselves. This past season, the NFL delivered its highest viewership successful sixteen seasons, up 7% twelvemonth implicit year, mostly driven by broadcast. In location and distant markets, broadcast inactive delivers the bulk of the NFL Thursday Night Football assemblage versus Amazon Prime.