Nexstar Media Q3: Political Ads, Distribution Gains Drive 21% Revenue Growth

Nexstar Media Group Inc (NASDAQ:NXST) shares are trading higher. The company reported a third-quarter fiscal year 2024 net revenue increase of 20.7% year over year to $1.366 billion. That’s in line with the consensus.

• Revenues from Advertising rose 22.2% to $622 million. The growth was led by a $135 million year-over-year rise in election-year political advertising.
• Distribution revenue gained 20.2% to $719 million. This growth was driven by the resolution of a 2023 MVPD dispute, favorable contract renewals, annual rate increases, higher vMVPD subscribers, new CW affiliations, and the return of partner ...

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