Company Milestones

1996
Chairman, President and CEO Perry Sook forms Nexstar Broadcasting Group, Inc.
1998
Nexstar pioneers “virtual duopoly” concept
2003
Nexstar completes initial public offering; begins trading on The NASDAQ Global Market under the symbol “NXST”
2003-2004
Acquires Quorum Broadcasting and other stations, doubling Nexstar’s station portfolio
2005
Nexstar successfully wins right to receive retransmission consent revenue from multichannel video programming distributors (MVPDs), marking a groundbreaking milestone for the broadcast television industry
2006
Nexstar completes accretive acquisition of TV station in Altoona, PA
2007
Nexstar launches differentiated community web-portal concept, offering its local TV stations’ leading local news, information, weather, sports and other community-focused content across all screens and devices
2008
Despite unprecedented economic challenges, Nexstar achieves record revenues as the Company’s virtual duopolies, leading local news franchises and multi-platform content distribution strategy drives industry leading results
2009
  • Nexstar completes accretive acquisition of TV station in Jacksonville, FL
  • Enters into management agreement with Four Points Media, further diversifying its revenue through multi-million dollar annual fees and incentive compensation
  • Strengthened and added depth to senior management team through the recruitment of accomplished executives including Thomas Carter as Chief Financial Officer and Elizabeth Ryder as General Counsel
2010
  • Nexstar completes first step in refinancing its capital structure, reduces total debt by approximately $40 million
  • Establishes mobile functionality for its local community web-portals, including mobile applications and geo-targeted mobile alert system
  • S&P raises Nexstar’s corporate credit rating one notch to B from B-
2011
  • Nexstar celebrates its fifteen year anniversary
  • Nexstar completes accretive acquisitions of TV stations in Green Bay, WI, Marquette, MI and Evansville, IN expanding the scope of the station portfolio
  • Continues progress on deleveraging initiatives
2012
  • Nexstar concludes strategic review process and announces highly accretive acquisition of 12 TV stations (of which 2 stations were acquired in January 2013) in 8 markets and Inergize e-Media platform followed by the announced accretive acquisition of 6 TV stations in California and Vermont
  • Company authorizes quarterly cash dividend policy
  • S&P raises Nexstar’s corporate credit rating one notch to B+ from B
  • Moody’s raises Nexstar’s corporate credit rating one notch to B2 from B3
  • Reports record net revenue of $379 million and adjusted EBITDA of $146 million for FY2012
2012-2013
Nexstar completes and integrates transformative, accretive acquisitions of 18 TV stations from Newport Television and Smith/Granite
2013
  • Nexstar’s Board of Directors authorized the payment of the Company’s first quarterly cash dividend
  • Reports record net revenue of $547 million and adjusted EBITDA of $167 million for FY2013 continues progress on deleveraging initiatives
  • Reflecting the growing opportunity in digital media, appointed Thomas O’Brien to the newly created position of Executive Vice President/Digital Media and Chief Revenue Officer
2013-2014
Nexstar completes accretive acquisition of 15 TV stations from Citadel Communications, Hoak Media/Parker Broadcasting and Grant Company as well as two digital media businesses
2014
  • Nexstar structures agreements to support minority-owned Marshall Broadcasting and Bayou City Broadcasting in becoming FCC licensees
  • Reports record net revenue of $631 million and adjusted EBITDA of $235 million for FY2014
  • Moody’s raises Nexstar’s corporate credit rating one notch to B1 from B2
  • Increases quarterly cash dividend
2015
  • Nexstar completes accretive acquisition of 15 TV stations from Communications Corporation of America, Meredith Corporation and Landmark Media Enterprises, as well as a local digital programmatic video ad platform, Yashi, Inc. and machine learning mobile ad technology platform, Kixer
  • Launches LAKANA, its enterprise-class technology solutions digital media business
  • Reports record net revenue of $896 million and adjusted EBITDA of $305 million for FY2015
  • Increases quarterly cash dividend
2016
  • Nexstar Broadcasting Group enters into definitive agreement to acquire Media General for $4.6 billion in accretive cash and stock transaction
  • Increases quarterly cash dividend
  • S&P raises Nexstar’s corporate credit rating one notch to BB- from BB+
2017
  • Nexstar completes accretive acquisition of 71 TV stations from Media General
  • Nexstar Broadcasting Group, Inc changes name to Nexstar Media Group, Inc

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