Nexstar Media Group has released its first-quarter financial results, and the company brought in more than $1 billion during the first three months of 2025.
In total, it earned $1.23 billion in revenue during January, February, and March. However, that figure represented a decline of 3.9%. The company is attributing the decline in revenue to a reduced political advertising spending after the 2024 election cycle placed unprecedented advertising dollars with media entities.
Nexstar Media Group‘s advertising revenue was $460 million for the quarter, down 10.2% over the same window in 2024. It decreased by $52 million. In the first quarter of 2024, it saw $6 million in political advertising compared to $32 million in the same timeframe last year.
Distribution revenue grew by $1 million to $762 million. The company’s net income finished at $97 million for the quarter, down $70 million from the prior year’s first quarter. The company saw a 15.7% decrease in Adjusted EBITDA down to $381 million.
“Nexstar delivered solid first quarter Net Revenue, Adjusted EBITDA, and Adjusted Free Cash Flow, driven by
record first quarter distribution revenue and disciplined expense management,” said Nexstar Media Group founder, chairman, and CEO Perry Sook. “As the nation’s largest local broadcaster, we strategically use our scale to drive strong operating results and cash flow and facilitate organic growth initiatives as we further elevate The CW and NewsNation to top-tier networks.
“During the quarter, we deployed our Adjusted Free Cash Flow to repay debt, pay dividends, repurchase stock and – what we hope to be an increasing use of our strong balance sheet – make an acquisition,” continued Sook. “For the balance of 2025, we remain focused on renewing distribution contracts representing approximately 60% of our subscriber base in total for the year, continuing our path towards profitability at The CW, preparing for the 2026 political cycle, and pursuing deregulation.”
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