Nexstar Media Group Reports Record Third Quarter Net Revenue of $1.37 Billion
In Irving,Texas, on November 7th 2024.
The media company Nexstar Media Group disclosed its performance for the third quarter of 2024 that concluded on September 30th in a recent announcement. Kindly visit the companys website to access the complete press release, for further details and information regarding this update.
Statement, by Perry A Sook. The founder and CEO
"Nexstar achieved financial performance in the third quarter due, to the strength of our broadcast television business model."Throughout the quarter we worked on enhancing our approach for The CW. Managed to cut down on operating losses by $36 million compared to last year and by $119 million so far this year.We introduced NASCAR Xfinity Series racing in September and WWE NXT wrestling in October on The CW broadcast network which led to double digit percentage growth in both overall viewership and among adults aged 18 to 49 compared to past viewership, on cable networks. In total this year far has been really good for us. We were able to generate $792 million, in Adjusted Free Cash Flow. We gave back $590 million to our shareholders through dividends. Buying back shares which is 74% of the total and also managed to reduce our debt by $146 million.
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