Nexstar Media Group Reports Record Q3 2026 Revenue Driven by TEGNA Acquisition and Political Advertising
Nexstar Media Group (NXST) reported record third-quarter net revenue of $2.13 billion for 2026, marking a 78% increase compared to the previous year. This surge was primarily fueled by the acquisition of TEGNA and significant growth in both advertising and distribution revenues. The company also benefited from a record political advertising cycle, which contributed $317 million to the quarterly results. Despite the strong top-line performance, Nexstar faces headwinds including a preliminary injunction that currently prevents full integration with TEGNA, potentially delaying anticipated synergies. Additionally, management warned of a decline in nonpolitical advertising revenue for the fourth quarter due to political spending 'crowd-out.' On the balance sheet, the company has aggressively reduced debt by $1.3 billion year-to-date.
Topics: acquisition impact debt reduction EBITDA political advertising revenue growth