Overview

• Nexstar's Q1 2025 revenue totaled $1.23 billion, with adjusted EBITDA down 17% year-over-year due to lower political ad revenue and increased sports-rights amortization.
• The CW achieved its best primetime ratings in eight quarters, driven by NASCAR and WWE, with NASCAR Xfinity Series viewership up 19% year-over-year.
• The network's Q1 profitability declined by mid-teen millions due to expanded sports programming costs, though Nexstar remains committed to achieving CW profitability by 2026.
• Nexstar is focused on renewing distribution contracts covering 60% of the CW’s subscriber base while securing new sports rights deals, including Pac-12 football and the PBA.
• CEO Perry Sook emphasized deregulation efforts as a top priority, aiming to relax FCC media ownership rules to support Nexstar's growth strategy.