NEXSTAR MEDIA GROUP INC
For the period ended Sep 30, 2024. Filed Nov 7, 2024.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Sep 30, 2024 · Filed Nov 7, 2024
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Unregistered Sales of Equity Securities and Use of Proceeds
ITEM 2. Unregistered Sales of Equity Securities and Use of Proceeds
As of December 31, 2023, the remaining available amount under the prior share repurchase authorization was $652 million. On July 26, 2024, Nexstar’s board of directors announced the increase of its share repurchase authorization by $1.5 billion. During the nine months ended September 30, 2024, Nexstar repurchased a total of 2,576,330 shares of its common stock for $423 million, funded by cash on hand, which was accounted for as treasury cost. As of September 30, 2024, the remaining available amount under the share repurchase authorization was $1.7 billion.
The following is a summary of Nexstar’s repurchases of its common stock by month during the quarter ended September 30, 2024 (in millions, except for share and per share information):
| Total Number of Shares · Approximate Dollar Value | ||||
|---|---|---|---|---|
| Purchased as Part of · of Shares That May Yet Be | ||||
| Total Number | Average Price | Publicly Announced | Purchased Under the | |
| of Shares Purchased | Paid per Share | Plans or Programs | Plans or Programs | |
| July 2 to 26, 2024 | 227,029 | $171.96 | 227,029 | $1,868 |
| August 2 to 30, 2024 | 510,044 | $166.06 | 510,044 | 1,783 |
| September 3 to 27, 2024 | 324,779 | $165.53 | 324,779 | 1,729 |
| 1,061,852 | $167.16 | 1,061,852 | ||
From October 1, 2024 to November 7, 2024, we repurchased 458,261 shares of our common stock for $78 million, funded by cash on hand. As of the date of filing this Quarterly Report on Form 10-Q, the remaining available amount under the share repurchase authorization was $1.7 billion.
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