During the same quarter in the previous year, the firm earned $1.42 earnings per share. Accordingly, we believe that our free cash flow combined with the active management of our balance sheet provides us with the financial flexibility to further support our shareholder value creation initiatives, including our return of capital programs such as share repurchases and our quarterly cash dividend, as well as for leverage reduction and select opportunistic accretive transactions.". Geode Capital Management LLC now owns 575,477 shares of the company’s stock worth $33,222,000 after acquiring an additional 13,543 shares during the last quarter. Marshall is the publisher of the Wave Community Newspapers, a group of African-American newspapers in Los Angeles. Reuters first reported the deal, which is expected to be unveiled Monday morning. 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Nexstar owns, operates, programs, or provides sales and other services to 196 television stations and related digital multicast signals reaching 114 markets or approximately 39% of … The stock currently has an average rating of “Buy” and an average target price of $111.17. According to the suit, he tried to acquire TV stations in the late 1980s and early ’90s, but could not obtain financing. The company intends to vigorously defend itself regarding this matter in a court of law.”. A black-owned TV company sued Nexstar Media Group on Wednesday, accusing the company of sabotaging its efforts to operate independently. Most of the stations Nexstar owns and operates were acquired through acquisitions of Quorum Broadcasting in 2003[6], Newport Television in 2012, Communications Corporation of America in 2015, Media General in 2017[7], and Tribune Media in 2019. Nexstar announced the $4.1 billion deal in December, and hopes to close by the end of 2019. Today, as one of the most powerful and trusted voices in America, Nexstar remains true to its mission to uphold the public interest principles of localism, diversity and trust worthy, unbiased broadcast journalism. Cutler Group LP now owns 326 shares of the company’s stock worth $27,000 after purchasing an additional 4,026 shares during the last quarter. Variety and the Flying V logos are trademarks of Variety Media, LLC. According to Marshall, only 12 of 1,400 full-power commercial TV stations in the U.S. are black-owned. Baupost Group LLC MA now owns 2,085,000 shares of the company’s stock valued at $120,367,000 after acquiring an additional 85,000 shares during the last quarter. Seattle Genetics (NASDAQ:SGEN) Reaches New 1-Year High at $189.00, Business First Bancshares Inc (NASDAQ:BFST) Director Rick D. Day Acquires 3,200 Shares of Stock, Aurora Cannabis (TSE:ACB) Price Target Lowered to C$14.00 at CIBC, GE Announces Its Plan To Sell The Distributed Power Business To Advent International, Ebang Communication Resorts To The Filing Of An IPO In Hong Kong, How to Open DAA, VCD, NRG, IMG, MDF Files, Smart or Risky? The company has a quick ratio of 1.88, a current ratio of 1.88 and a debt-to-equity ratio of 3.62. Following the completion of the transaction, the executive vice president now directly owns 1,792 shares in the company, valued at $170,472.96. Shares of NXST stock opened at $91.40 on Wednesday. Waddell & Reed Financial Inc. now owns 741,372 shares of the company’s stock valued at $42,799,000 after acquiring an additional 4,067 shares in the last quarter. “Ultimately this is a bait and switch,” Marshall told Variety in an interview. At the same time, the Company continues to simultaneously raise its commitment to support the evolving needs and interests of the local viewers, hometown businesses and community organizations that it proudly serves each day. Marshall Broadcasting Group owns three Fox affiliates in Odessa, Texas; Shreveport, La. The suit claims that Nexstar also threatened to withdraw its financial guarantee, which would force Marshall into default. Finally, Barrington Research reissued a “buy” rating and issued a $115.00 price objective on shares of Nexstar Media Group in a report on Tuesday, August 11th. “The spirit of the agreement was for us to work together to grow Marshall Broadcasting. We have based these forward-looking statements on our current expectations and projections about future events. With the purchase of Scranton, PA station WYOU in 1996, broadcast industry pioneer and Nexstar Chairman and CEO, Perry A. Sook, founded Nexstar and began building the foundation of what more than two decades later has become the largest local broadcast television and media company in the United States.
Nexstar Media Group Inc (NASDAQ:NXST) EVP Dana Zimmer sold 708 shares of the stock in a transaction dated Monday, September 28th. Marshall Broadcasting is represented by David Boies of Boies Schiller Flexner LLP. The company said the transaction more than doubled its audience reach, with 171 stations in … Nexstar undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. Marshall contends that Nexstar overcharged him by $16 million for the stations, and has withheld millions of dollars in retransmission fees from cable providers. FMR LLC boosted its position in Nexstar Media Group by 36.2% in the second quarter. In light of these risks, uncertainties and assumptions, the forward-looking events discussed in this communication might not occur. Receive News & Ratings for Nexstar Media Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Nexstar Media Group and related companies with MarketBeat.com's FREE daily email newsletter. The Company anticipates funding any share repurchases from its cash flow from operations. The following stations listed below are either owned and operated by Nexstar, or controlled by Nexstar through management services agreements (MSAs) with affiliated companies like Mission Broadcasting and Shield Media, among others, to comply with current FCC ownership limits. You should not place undue reliance on these forward-looking statements, which speak only as of the date of this release. For more details on factors that could affect these expectations, please see Nexstar’s other filings with the SEC. As a group, equities research analysts anticipate that Nexstar Media Group Inc will post 14.38 earnings per share for the current fiscal year. In 2005 Nexstar and Sook took a historic stand by requesting payment from pay-TV services for retransmission of local programming, forging a new type of relationship that benefited not only Nexstar, but all local broadcasters. The suit claims that Nexstar intends to torpedo the value of the stations and then reacquire them, with the hope that “in the current political climate Nexstar will face significantly less regulatory push-back than it did in late 2014.”, Nexstar issued a statement denying the allegations: “The allegations made by MBG in its lawsuit against the company are spurious and without merit. FMR LLC now owns 3,927,236 shares of the company’s stock valued at $328,671,000 after buying an additional 1,044,048 shares in the last quarter. The Company has also significantly expanded the reach of the station group by completing select accretive transactions that have positioned Nexstar to better compete in today’s rapidly transforming industry environment. Stations are arranged alphabetically by state and by city of license. For more information please visit www.nexstar.tv. The sale was completed on September 28 of that year. Finally, Geode Capital Management LLC grew its position in Nexstar Media Group by 2.4% during the 1st quarter. Zacks Investment Research cut shares of Nexstar Media Group (NASDAQ:NXST) from a buy rating to a hold rating in a research note published on Tuesday, Zacks.com reports.. Upon completion of its acquisition of Tribune Media in 2019, Nexstar became the largest local television broadcast and digital media company in the nation with a portfolio of 197 full power owned or serviced stations in 115 markets reaching approximately 63% of US television households. Nexstar Media Group said its name change reflects its broadened base of operations and capabilities. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. The Company is focused on the acquisition, development and operation of television stations and interactive community Websites, and digital media services in medium-sized markets in the United States. The forward-looking statements contained in this communication, concerning, among other things, future financial performance, including changes in net revenue, cash flow and operating expenses, involve risks and uncertainties, and are subject to change based on various important factors, including the impact of changes in national and regional economies, the ability to service and refinance our outstanding debt, successful integration of acquired television stations and digital businesses (including achievement of synergies and cost reductions), pricing fluctuations in local and national advertising, future regulatory actions and conditions in the television stations' operating areas, competition from others in the broadcast television markets, volatility in programming costs, the effects of governmental regulation of broadcasting, industry consolidation, technological developments and major world news events.
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