A Brief History of Nexstar Media Group, Inc. (NXST)

Nexstar Media Group, Inc. is a television broadcasting company based in Irving, Texas. It was founded in 1996 by Perry A. Sook, who serves as the company's Chairman, President, and CEO. Nexstar owns and operates television stations across the United States, reaching approximately 39% of households in the country.

Here is a brief timeline of the company's history:

• 1996: Nexstar Media Group is founded by Perry A. Sook.
• 2003: Nexstar goes public, trading on the NASDAQ under the symbol NXST.
• 2011: Nexstar acquires the Four Points Media Group, expanding its reach to 8% of U.S. households.
• 2015: Nexstar acquires Media General, making it one of the largest television broadcasting companies in the country.
• 2019: Nexstar completes its acquisition of Tribune Media, further expanding its portfolio of television stations.

Who Owns Nexstar Media Group, Inc. (NXST)

Nexstar Media Group, Inc. (NXST) is a publicly traded company, so its ownership is dispersed among a large number of shareholders. However, there are some key institutions and individuals who own a significant portion of the company's stock.

One of the largest institutional owners of Nexstar Media Group is The Vanguard Group, Inc., which owns over 11% of the company's outstanding shares. BlackRock, Inc. is another major institutional owner of Nexstar, holding nearly 10% of the company's stock.

• Perry A. Sook - Founder, Chairman, President, and CEO of Nexstar Media Group, Sook owns approximately 7% of the company's shares.
• Wells Capital Management Inc. - A subsidiary of Wells Fargo & Company, this institutional investor holds around 6% of Nexstar Media Group's shares.
• ClearBridge Investments, LLC - This investment management firm owns about 5% of Nexstar's stock.

Overall, the ownership of Nexstar Media Group, Inc. is diverse, with a mix of institutional investors, mutual funds, and individual stakeholders holding significant stakes in the company.

Nexstar Media Group, Inc. (NXST) Mission Statement

Nexstar Media Group, Inc. is a leading diversified media company that is dedicated to providing relevant and innovative content to our audiences across the United States. Our mission is to deliver exceptional local news, entertainment, and digital content that informs, inspires, and engages our viewers.

At Nexstar, we are committed to being a trusted source for news and information in the communities we serve. We strive to uphold the highest standards of journalism and to be a beacon of integrity in an ever-changing media landscape.

Our mission is guided by the following core principles:

• Quality: We are dedicated to producing high-quality content that meets the needs and interests of our audience.
• Community: We believe in the power of local news to bring communities together and to foster meaningful connections.
• Innovation: We are always looking for new and creative ways to deliver content and engage with our viewers.
• Diversity: We are committed to representing the diverse voices and perspectives of the communities we serve.
• Excellence: We strive for excellence in everything we do, from our reporting to our business practices.

How Nexstar Media Group, Inc. (NXST) Works

Nexstar Media Group, Inc. is a leading diversified media company that operates television stations, digital and mobile media platforms, and other local services in the United States. The company's primary business is the production and broadcasting of local news, entertainment, and sports programming.

Nexstar Media Group, Inc. owns and operates over 200 television stations across the country, reaching approximately 63% of U.S. television households. These stations are affiliated with major networks such as ABC, NBC, CBS, FOX, and The CW, allowing Nexstar to provide a wide range of programming to viewers.

Nexstar also has a strong digital presence, with websites and mobile apps that complement its television stations. These digital platforms provide news, weather, and other content to users, as well as opportunities for advertisers to reach a targeted audience.

One of the key aspects of how Nexstar operates is its focus on localism. The company believes in serving the communities where its stations are located, providing relevant and timely information to viewers and supporting local businesses through advertising partnerships.

Overall, Nexstar Media Group, Inc. works to deliver high-quality content to audiences through its television stations and digital platforms, while also supporting the local communities it serves.

How Nexstar Media Group, Inc. (NXST) Makes Money

Nexstar Media Group, Inc. generates revenue through various streams of income. Some of the key ways the company makes money include:

• Advertising Sales: One of the primary sources of revenue for Nexstar is through the sale of advertising space on its television stations and digital platforms. Advertisers pay Nexstar to reach its audience through commercials, sponsored content, and other advertising opportunities.
• Retransmission Fees: Nexstar also earns revenue from cable and satellite providers through retransmission fees. These fees are paid by providers to carry Nexstar's local broadcast stations on their channel lineup.
• Digital Media: The company monetizes its digital content through online advertising, sponsored content, and partnerships with digital platforms. Nexstar's websites and mobile apps attract a significant audience, providing opportunities for digital revenue generation.
• Programming Fees: Nexstar earns revenue through agreements with programming providers for the distribution of popular television shows and networks on its stations. These agreements involve licensing fees and revenue-sharing arrangements.
• Other Sources: In addition to the above, Nexstar generates revenue through other sources such as event sponsorships, production services, and content licensing deals.