Nexstar Media Group stock posts record Q3 revenue after TEGNA deal

Nexstar Media Group delivered record third-quarter revenue after the company included TEGNA in its results for the period ended September 30, 2026. In its November 5 release, the broadcaster reported net revenue of 2.133 billion US dollars, up 78.0 percent from the prior-year quarter.

TEGNA lifts quarterly scale

TEGNA contributed 765 million US dollars of revenue to the quarter. Nexstar said distribution revenue rose 53.9 percent to 1.091 billion US dollars, while advertising revenue increased 114.9 percent to 1.023 billion US dollars. The comparison with the prior year is shaped by the acquisition, because the earlier period did not include TEGNA.

Political advertising provided an additional boost in the election year. Third-quarter political advertising revenue reached 317 million US dollars, while Nexstar said combined political advertising for 2026 had reached a record 1.1 billion US dollars.

Cash flow supports debt reduction

Net income reached 250 million US dollars, compared with 65 million US dollars a year earlier. Adjusted EBITDA rose to 756 million US dollars, and adjusted free cash flow reached 443 million US dollars. Nexstar also reported 680 million US dollars of cash from operating activities.

The company said it had repaid 1.3 billion US dollars of debt year to date through November 5 and returned 58 million US dollars to shareholders through third-quarter dividends. For investors, the TEGNA integration, the durability of distribution revenue and the normalization of political advertising remain central factors for assessing the enlarged group.

Nexstar Media Group stock traded at 184.88 euros on Lang & Schwarz at 22:39 CET on Tuesday, November 10, 2026.

The S&P 500 provides the broader US equity-market backdrop for investors following Nexstar.

More news and analyses on Nexstar Media Group stock