Nexstar MediaNASDAQ: NXST

IRVING, Texas--(BUSINESS WIRE)--The Nexstar Media Group Board of Directors declared a quarterly cash dividend of $1.69 per share of its common stock.

Nexstar Media is fundamentally undervalued with a fair value of $245, presenting over 40% upside from current prices. Seasonal patterns, particularly during election years, show significant stock performance, possibly driven by political advertising revenue. Political advertising cashflows can fuel substantial buybacks, enhancing shareholder value and supporting the stock price.

Investors need to pay close attention to Nexstar Media (NXST) stock based on the movements in the options market lately.

Nexstar Media Group, which hired Turner veteran Michael Strober as EVP and Chief Revenue Officer in 2022, has eliminated his position. In an SEC filing Friday, the company said Strober had been notified that his role had been discontinued “in favor of a more streamlined organizational structure.

Broadcast TV giant Nexstar Media Group undershot Wall Street analysts' estimates for the second quarter, but said losses are continuing to narrow at The CW. The company reported a 2% uptick in revenue in the second quarter to $1.27 billion, which was short of forecasts for $1.3 billion. Diluted earnings per share of $3.

Multi-Year Renewal Covers CBS Affiliated Television Stations in 42 Markets Owned by Nexstar and Mission Broadcasting, Inc. Paramount-owned Stations in Miami and Detroit To Become CW Network Affiliates on September 1 IRVING, Texas and NEW YORK , July 30, 2024 /PRNewswire/ -- Nexstar Media Group, Inc. (NASDAQ: NXST) (Nexstar) and Paramount Global (NASDAQ: PARA, PARAA) (Paramount) today announced that Nexstar and its operating partner, Mission Broadcasting, Inc. (Mission), have reached comprehensive multi-year agreements to renew CBS Television Network affiliations in 42 markets across the country, including 40 stations owned by Nexstar and two stations owned by Mission. Together, the 42 stations reach 15% of the U.S. audience, serving nearly 19 million television households.

IRVING, Texas--(BUSINESS WIRE)--Nexstar Media Group appointed Lisa Taylor SVP of Digital Advertising Sales, responsible for accelerating digital revenue across the broadcast group.

CHICAGO--(BUSINESS WIRE)--NewsNation, America's source for engaging and unbiased news, will expand its news programming to 24-hours-per-day Monday to Sunday, beginning June 1.

The CW Network is set to debut its seven-night primetime schedule for the 2024-25 season in the Fall of 2024, featuring a mix of fresh programming and sports content.