Nexstar Media Group posted record second-quarter financial results. Revenue climbed as political advertising and acquisitions fueled growth.
What We Know: Nexstar Media Group reported record second quarter revenue of $2 billion, driven by its acquisition of TEGNA, robust political advertising, FIFA World Cup programming on its FOX affiliates, and continued digital growth. The company also highlighted momentum for NewsNation, which it said remained the fastest-growing ad-supported cable news network in both primetime and total day viewership. Meanwhile, Nexstar pointed to expanded distribution for The CW through new partnerships with ESPN and Roku as another key growth driver heading into the second half of the year.
What the Numbers Show:
| Metric | 2026 2nd Quarter | Year-Over-Year Change |
|---|---|---|
| Distribution Revenue | $1.1 Billion | ▲ 52.3% |
| Advertising Revenue | $862 Million | ▲ 81.5% |
| Net Revenue | $2 Billion | ▲ 62.2% |
| Net Income | $113 Million | ▲ 24.0% |
| Adjusted EBITDA | $633 Million | ▲ 62.0% |
What They Said: “In a record second quarter, Nexstar generated all-time high quarterly revenue driven by our acquisition of TEGNA Inc., strong political advertising revenue, incremental advertising revenue from highly rated FIFA World Cup events on our FOX-affiliated stations and continued streaming advertising revenue growth in Nexstar’s legacy local markets. During the quarter, NewsNation maintained its position as the fastest-growing ad-supported cable news network in prime time and total day viewership. At the same time, The CW accelerated its transformative evolution through distribution partnerships with ESPN and Roku, which will expand The CW’s reach to new streaming audiences … We remain confident that the case challenging our acquisition of TEGNA is without merit and we will continue to vigorously defend it.” – Nexstar Media Group Founder, Chairman, and CEO Perry Sook
What It Means: The quarter reinforces Nexstar’s strategy of combining broadcast television, cable news, and streaming distribution to diversify revenue. Furthermore, the TEGNA acquisition continues to reshape the company’s financial profile while political advertising provides a significant near-term lift. If NewsNation and The CW sustain their recent momentum, Nexstar could enter the back half of 2026 with multiple businesses contributing meaningful growth beyond its traditional local television operations.
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Garrett Searight is Barrett Media’s News Editor, which includes writing daily news stories, features, and opinion columns. He joined Barrett Media in 2022 after a decade leading several radio brands in several formats, as well as a 5-year stint working in local television. In addition to his work with Barrett Media, he is a radio and TV play-by-play broadcaster. Reach out to him at Garrett@BarrettMedia.com.