Latest news with #PerrySook
Business Wire
30-07-2025
- Business
- Business Wire
Nexstar Television Stations Help Raise Nearly $1.4 Million to Assist Victims of Flooding in Central Texas
IRVING, Texas--(BUSINESS WIRE)--Nexstar Media Group, Inc. (NASDAQ: NXST) today announced that its television stations have helped to raise nearly $1.4 million to assist the victims of flooding in Central Texas earlier this month. In addition, the Nexstar Media Charitable Foundation has donated $25,000 to each of two organizations assisting with relief efforts in Tom Green County, Kerr County, and the surrounding areas: The San Angelo Area Foundation and The Community Foundation of the Texas Hill Country. 'This is what being a local broadcasting company is all about—continuous live news coverage... assisting in the recovery efforts, bringing people together, and giving back to the communities we serve,' said Perry Sook, Nexstar's Chairman and CEO. In addition to live around-the-clock news coverage of the catastrophic flooding provided by Nexstar's Texas television stations and the company's national cable news network, NewsNation, several of the company's television stations across the country initiated fundraising drives to assist with relief efforts. Led by Nexstar television stations in San Angelo, Abilene, and Austin, Texas, those fundraising efforts included a one-hour flood relief telethon that aired simultaneously on KLST-TV in San Angelo and KTAB-TV in Abilene on July 10, and raised nearly $1,400,000. In Austin, KXAN-TV aired continuous coverage of the flooding and its aftermath and launched a custom-made microsite, where viewers could find more information about a variety of resources and relief organizations aimed at helping those in need. The station also developed and aired 22 different public service announcements spotlighting different relief organizations throughout the area and directed viewers to ten different charitable entities assisting the residents of Central Texas. Throughout the crisis, KXAN-TV employees have volunteered at local relief organizations, helping to gather and distribute supplies. Finally, dozens of Nexstar TV stations across the country, including those in Chicago, Buffalo, Las Vegas, Denver, and Bakersfield, regularly aired a QR code linking viewers to KXAN-TV's website and ways to donate to local relief and charitable organizations helping with the recovery in Central Texas. 'This is what being a local broadcasting company is all about—continuous live news coverage of an event affecting tens of thousands of people, assisting in the recovery efforts, bringing people together, and giving back to the communities we serve,' said Perry Sook, Nexstar's Chairman and Chief Executive Officer. 'In addition to the fundraising and volunteer efforts of our television stations, the Nexstar Media Charitable Foundation is honored to be contributing $50,000 to two organizations directly involved in helping the residents of Central Texas to rebuild their lives.' About Nexstar Media Group, Inc. Nexstar Media Group, Inc. (NASDAQ: NXST) is a leading diversified media company that produces and distributes engaging local and national news, sports and entertainment content across its television and digital platforms, including more than 316,000 hours of programming produced annually by its business units. Nexstar owns America's largest local television broadcasting group comprised of top network affiliates, with more than 200 owned or partner stations in 116 U.S. markets reaching 220 million people. Nexstar's national television properties include The CW, America's fifth major broadcast network, NewsNation, our national news network providing 'News for All Americans,' popular entertainment multicast networks Antenna TV and Rewind TV, and a 31.3% ownership stake in TV Food Network. The Company's portfolio of digital assets, including its local TV station websites, The Hill and are collectively a Top 10 U.S. digital news and information property. For more information, please visit
The Hill
13-07-2025
- Entertainment
- The Hill
Tabernacle Choir to mark 5,000 episodes of ‘Music and the Spoken Word'
The Tabernacle Choir, one of the oldest and largest choral organizations in the world, will broadcast its 5,000th episode of 'Music and the Spoken Word' on Sunday. One of the longest-running broadcast church services, 'Music and the Spoken Word' has aired each week since July 1929 and has been heard by more than 6 million people in 50 countries around the globe on radio, television and online streaming. Sunday's episode will commemorate more than nine decades of music and messages shared with audiences in the United States and beyond, the choir said. Sunday's event will be broadcast from the Conference Center at Temple Square in Salt Lake City and feature a preshow, the 5,000th episode of 'Music and the Spoken Word' and a postshow after the historic program concludes. 'The 5,000th episode of Music & the Spoken Word represents more than longevity and international reach,' said Perry Sook, joint board chair of the National Association of Broadcasters and the chair and CEO of Nexstar Media Group, which is the parent company of The Hill. 'It represents unwavering excellence, a commitment to public service and the enduring power of faith and music to unite us all.' Sunday's 5,000th episode will be broadcast at 11:30 a.m. EDT on the Tabernacle Choir's YouTube channel.
Yahoo
09-05-2025
- Business
- Yahoo
Nexstar Media Group Inc (NXST) Q1 2025 Earnings Call Highlights: Navigating Revenue Challenges ...
Net Revenue: $1.23 billion, a decline of 3.9% compared to the prior year. Distribution Revenue: $762 million, increased by 0.1% over the prior year quarter. Advertising Revenue: $460 million, decreased by 10.2% over the prior year quarter. Political Advertising Revenue: $6 million, a decrease of $32 million from the prior year. Adjusted EBITDA: $381 million, representing a 30.9% margin, decreased by $71 million from the prior year. Adjusted Free Cash Flow: $348 million, compared to $389 million last year. Capital Expenditures (CapEx): $35 million, a decrease from $44 million in the prior year. Net Interest Expense: $97 million, a reduction of $17 million from the prior year. Outstanding Debt: $6.5 billion, a reduction of $28 million for the quarter. Cash Balance: $253 million at quarter end. First Lien Covenant Ratio: 1.67 times, well below the covenant of 4.25 times. Total Net Leverage: 2.93 times at quarter end. Warning! GuruFocus has detected 4 Warning Signs with NXST. Release Date: May 08, 2025 For the complete transcript of the earnings call, please refer to the full earnings call transcript. Nexstar Media Group Inc (NASDAQ:NXST) reported a strong start to 2025 with solid financial results, including record first quarter distribution revenue. The company is well-positioned to capitalize on potential deregulation, which could lead to strategic mergers and acquisitions. Nexstar's diversified revenue streams, with 63% coming from distribution and other sources, provide stability amid economic uncertainties. The CW network showed significant improvement, with its strongest primetime performance in eight quarters, driven by new content strategies. News Nation continues to grow its audience, outperforming competitors like MSNBC and CNN in key demographics, and gaining recognition as a trusted national news source. Nexstar Media Group Inc (NASDAQ:NXST) experienced a 3.9% decline in net revenues compared to the prior year, primarily due to a reduction in political advertising. The advertising market remains challenging, with a 10.2% decrease in advertising revenue, impacted by softness in the television advertising market. Subscriber attrition continues to be a concern, although there are signs of marginal improvement in subscriber trends. The CW network's profitability declined in the first quarter due to increased sports programming amortization. The company faces potential risks from elevated interest rates and reduced maximum leverage, affecting the cost of capital for new transactions. Q: What is the expected timeline for regulatory changes if the fifth FCC commissioner is confirmed soon? A: Perry Sook, Chairman and CEO, indicated that an NPRM (Notice of Proposed Rulemaking) could be one of the first actions taken by the FCC Chairman to revisit ownership rules. He expects momentum in Washington to continue, with potential M&A activity coming into focus as the year progresses. Q: Are you comfortable with beginning transactions under the conditionality of the FCC's new procedures if an NPRM is issued? A: Perry Sook stated that Nexstar is willing to take calculated risks for opportunities, and they would consider putting pen to paper during the pendency of an NPRM, depending on circumstances and having a willing counterparty. Q: How is the current advertising market performing, and what are the expectations for the rest of the year? A: Lee Gliha, CFO, noted that the advertising market is currently down in the mid-single digits year-over-year, similar to Q1 results. They expect a pickup in the back half of the year due to the elimination of crowd-out effects. Q: How do you prioritize between expanding your national footprint and increasing in-market duopolies? A: Perry Sook emphasized that growing the national footprint has more strategic importance than adding a second or third station in a market. However, both have strategic importance, and they focus on acquisitions that are more accretive than buying back stock. Q: What is the impact of the current regulatory environment on potential M&A activities? A: Perry Sook mentioned that the DOJ understands the need for marketplace realities in transactions, and there is broad agreement in the industry for consolidation. The NAB board unanimously supports eliminating national cap and in-market ownership restrictions, which could facilitate M&A activities. For the complete transcript of the earnings call, please refer to the full earnings call transcript. This article first appeared on GuruFocus.
