Nexstar Media Group

Nexstar Media Group is a broadcast television company. Its Form 10-K describes it as owning “America’s largest local television broadcasting group,” with over 200 owned or partner stations in 116 U.S. markets across 40 states and the District of Columbia. The company reports 2025 revenue of $4.9 billion and states that its stations reach approximately 70% of U.S. television households without applying the FCC’s ultra-high-frequency discount.

National Properties

Beyond the station group, Nexstar reports an 80.8% interest in The CW Network, LLC — which it calls the fifth major U.S. broadcast network, and which Nielsen credits with reaching over 128 million television households — and owns NewsNation, which the company describes as “a national news network providing ‘News for All Americans’” and, elsewhere in the same filing, as “focused on providing unbiased, fact-based news.” It also holds a 31.3% stake in Television Food Network, G.P., and operates the Antenna TV and REWIND TV multicast networks.

Its digital portfolio includes local station sites and apps, NewsNationNow.com and The Hill; the company reports, citing Comscore, that the portfolio averaged over 90 million monthly unique users during 2025.

Pending TEGNA Acquisition

On 18 August 2025 Nexstar entered into a merger agreement to acquire TEGNA, which owns 64 television stations and two radio stations across 51 designated market areas. Nexstar states that on closing the combined company would have 265 full-power stations in 44 states and the District of Columbia, present in 132 of the 210 U.S. television markets and covering 80% of U.S. television households, and that a $125 million termination fee applies to TEGNA. The company describes the transaction as preserving “high-quality local journalism and diversity of opinion” — its own characterization of a deal that would further concentrate station ownership.

Technology

Nexstar reports converting stations reaching 50% of U.S. television households to the ATSC 3.0 broadcast standard, which it expects to support new data-transmission services.

Sourcing Note

The founded: 1996 value is removed — the 10-K does not state it. The reach line was wrong and has been corrected: the page claimed “39% of U.S. TV households through 200+ stations,” but 39% is the FCC’s national audience reach cap, not Nexstar’s reach; the company reports approximately 70% without the UHF discount.

Removed as unsourceable: the 2020 launch date for NewsNation; the Irving, Texas headquarters; and three sections asserting that Nexstar’s newsrooms “influence how political stories are covered in markets across the country, affecting local elections and issues,” that its ownership “has raised regulatory questions about media concentration,” and that its stations are “a significant player in political campaign strategies.”