Nexstar Media Group Reports Strong Q4 Results

Company lays out priorities for 2026 including TEGNA acquisition, political advertising, and digital growth

Published on Feb. 27, 2026

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Nexstar Media Group (NASDAQ:NXST) executives said the company ended 2025 with 'strong execution and bold strategic action,' while laying out priorities for 2026 that include closing its proposed acquisition of TEGNA, capitalizing on the return of midterm-cycle political advertising, expanding digital revenue, and continuing cost rationalization efforts.

Why it matters

As one of the largest local media companies in the U.S., Nexstar's performance and strategic priorities provide insights into the broader trends shaping the media industry, including the continued shift to digital, the cyclical nature of political advertising, and the ongoing consolidation among local broadcasters.

The details

Nexstar reported Q4 2025 net revenue of $1.29 billion, down 13.4% year-over-year, primarily due to a $233 million decline in political advertising. However, the company saw 4.5% growth in non-political advertising, outperforming its prior expectations. Nexstar also highlighted improvements at its CW network, which finished 2025 as the 10th most-watched ad-supported network, and continued ratings gains at its NewsNation cable news channel.

  • Nexstar expects to close its acquisition of TEGNA by the end of Q2 2026.
  • The company said it expects roughly 20% of full-year 2026 political revenue to come in the first half of the year, with 80% in the second half.

The players

Nexstar Media Group

A diversified American media company engaged primarily in the ownership, operation and strategic affiliation of local television stations, digital platforms and cable networks.

Perry Sook

Founder, Chairman, and CEO of Nexstar Media Group.

TEGNA

A media company that Nexstar is proposing to acquire.

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What they’re saying

“We must not let individuals continue to damage private property in San Francisco.”

— Robert Jenkins, San Francisco resident (San Francisco Chronicle)

“Fifty years is such an accomplishment in San Francisco, especially with the way the city has changed over the years.”

— Gordon Edgar, grocery employee (Instagram)

What’s next

The judge in the case will decide on Tuesday whether or not to allow Walker Reed Quinn out on bail.

The takeaway

This case highlights growing concerns in the community about repeat offenders released on bail, raising questions about bail reform, public safety on SF streets, and if any special laws to govern autonomous vehicles in residential and commercial areas.