Nexstar reported Q4 FY2025 net revenue of USD 1.29 billion (-13.4%), with distribution revenue of USD 720 million (+0.8%) and advertising revenue of USD 549 million (-27.6%). Q4 net loss was USD 170 million and adjusted EBITDA was USD 433 million (-31.1%), with net cash provided by operating activities of USD 190 million (-53.8%) and adjusted free cash flow of USD 214 million (-47.9%). For FY2025, Nexstar posted net revenue of USD 4.95 billion (-8.5%), net income of USD 83 million (-87.8%), adjusted EBITDA of USD 1.56 billion (-22.1%), net cash provided by operating activities of USD 891 million (-28.7%), and adjusted free cash flow of USD 829 million (-31.1%). Nexstar ended 2025 with total debt of USD 6.33 billion and unrestricted cash of USD 280 million. Business updates included progress on its proposed USD 6.2 billion acquisition of TEGNA, which Nexstar expects to close in the second half of 2026 subject to approvals, and a USD 381 million other-than-temporary impairment on its 31.3% investment in TV Food Network recorded in Q4. Nexstar also cited The CW’s performance (including 19% total audience growth in 2025) and said it renewed distribution agreements representing more than 60% of its subscriber base and extended its ABC and MyNetwork affiliation agreement to 2027. Nexstar provided FY2026 standalone adjusted EBITDA guidance of USD 1.95 billion to USD 2.05 billion.

Disclaimer: This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. Nexstar Media Group Inc. published the original content used to generate this news brief via Business Wire (Ref. ID: 202602260700BIZWIRE_USPR_____20260226_BW160286) on February 26, 2026, and is solely responsible for the information contained therein.