Of all of the broadcast media companies with publicly traded stock, Nexstar Media Group has proven to be the best investor bet since the arrival of COVID-19 on U.S. shores.
After two dips in March that sent NXST to nearly $50 a share, the broadcast TV company’s shares on Sept. 17 hit a fresh six-month high — and doubled its value from that coronavirus-fueled low.
With Nexstar shares flying high, the company founded and led by Perry Sook is poised to reveal its Q3 2020 earnings results on November 5.
A earnings call will be held at 9am that Thursday to discuss the results.
Thanks to the former Tribune Media properties, including WGN America, officially joining the Nexstar Media Group family in Sept. 2019, a look at Nexstar on a same-station basis will likely be necessary for one final time.
What can investors expect to hear? The heavily promoted News Nation, a prime-time national newscast on WGN America, arrived with a bang but with little post-launch buzz. Still, early signs point to long-term success for the alternative to cable news networks such as CNN, FOX News and MSNBC.
Then, there is the continued growth of retransmission consent revenue, and the dollars associated with the Tribune Media additions such as KTLA-5, WGN-9 and WPIX-11.