NEXSTAR MEDIA GROUP, INC.
For the period ended Sep 30, 2025. Filed Nov 6, 2025.
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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, 2025 · Filed Nov 6, 2025
Contents
Condensed Consolidated Balance Sheets as of September 30, 2025 and December 31, 2024
CONDENSED CONSOLIDATED BALANCE SHEETS
| September 30, | December 31, | |
|---|---|---|
| 2025 | 2024 | |
| ASSETS | ||
| Current assets: | ||
| Cash and cash equivalents | $236 | $144 |
| Accounts receivable, net of allowance for credit losses of $17 and $16, respectively | 1,013 | 1,028 |
| Broadcast rights | 62 | 84 |
| Prepaid expenses and other current assets | 82 | 41 |
| Total current assets | 1,393 | 1,297 |
| Property and equipment, net | 1,162 | 1,207 |
| Goodwill | 2,924 | 2,922 |
| FCC licenses | 2,949 | 2,929 |
| Network affiliation agreements, net | 1,353 | 1,494 |
| Other intangible assets, net | 306 | 353 |
| Investments | 774 | 877 |
| Other noncurrent assets, net | 388 | 389 |
| Total assets(1) | $11,249 | $11,468 |
| LIABILITIES, REDEEMABLE NONCONTROLLING INTERESTS AND STOCKHOLDERSʼ EQUITY | ||
| Current liabilities: | ||
| Current portion of debt | $111 | $124 |
| Accounts payable | 100 | 133 |
| Broadcast rights payable | 71 | 97 |
| Accrued expenses | 353 | 314 |
| Operating lease liabilities | 41 | 37 |
| Other current liabilities | 69 | 78 |
| Total current liabilities | 745 | 783 |
| Debt | 6,248 | 6,399 |
| Deferred tax liabilities | 1,467 | 1,487 |
| Other noncurrent liabilities | 505 | 531 |
| Total liabilities(1) | 8,965 | 9,200 |
| Commitments and contingencies (Note 10) | ||
| Redeemable noncontrolling interests (Note 2) | 17 | 26 |
| Stockholdersʼ equity: | ||
| Preferred stock - $0.01 par value, 200,000 shares authorized; none issued and outstanding at each of September 30, 2025 and December 31, 2024 | - | - |
| Common stock - $0.01 par value, 100,000,000 shares authorized; 47,282,823 shares issued, 30,323,806 shares outstanding as of September 30, 2025 and 47,282,823 shares issued, 30,621,241 shares outstanding as of December 31, 2024 | - | - |
| Additional paid-in capital | 1,312 | 1,304 |
| Accumulated other comprehensive loss | (1) | (1) |
| Retained earnings | 3,765 | 3,671 |
| Treasury stock - at cost; 16,959,017 and 16,661,582 shares as of September 30, 2025 and December 31, 2024, respectively | (2,790) | (2,717) |
| Total Nexstar Media Group, Inc. stockholdersʼ equity | 2,286 | 2,257 |
| Noncontrolling interests | (19) | (15) |
| Total stockholdersʼ equity | 2,267 | 2,242 |
| Total liabilities, redeemable noncontrolling interests and stockholdersʼ equity | $11,249 | $11,468 |
(1)
The condensed consolidated total assets as of September 30, 2025 and December 31, 2024 include certain assets held by consolidated VIEs of$295 million and $297 million, respectively, which are not available to be used to settle the obligations of Nexstar. The condensed consolidated total liabilities as of September 30, 2025 and December 31, 2024 include certain liabilities of consolidated VIEs of$147 million and $148 million, respectively, for which the creditors of the VIEs have no recourse to the general credit of Nexstar. See Note 2 for additional information.
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