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IRVING, Texas - Nexstar Media Group, Inc. (NASDAQ:NXST), a $6.2 billion market cap media company that has delivered an impressive 32% return year-to-date, announced Tuesday that its owned and partner television stations affiliated with ABC will continue to preempt "Jimmy Kimmel Live!" following what the company described as "ill-timed and insensitive comments" made by Kimmel. According to InvestingPro analysis, Nexstar maintains a "GREAT" financial health score, suggesting strong operational stability.
The media company stated it is standing by its decision made last week to pull the late-night show "pending assurance that all parties are committed to fostering an environment of respectful, constructive dialogue" in markets served by Nexstar stations.
While the show will remain unavailable on Nexstar’s ABC affiliates, the company noted that "Jimmy Kimmel Live!" will continue to be accessible nationwide through Disney-owned streaming platforms. Nexstar indicated its stations will instead focus on local news and other market-relevant programming.
Nexstar Media Group operates America’s largest local television broadcasting group with more than 200 owned or partner stations across 116 U.S. markets, reaching approximately 220 million people, according to the press release statement.
The company did not specify which comments by Kimmel prompted the preemption decision or provide details about what would constitute sufficient assurance for resuming the broadcast of the show.
In other recent news, Nexstar Media Group reported second-quarter 2025 earnings that exceeded analyst expectations. The company achieved an earnings per share of $3.06, surpassing the forecasted $2.81, and generated revenue of $1.23 billion, slightly above the anticipated $1.21 billion. In a significant development, Nexstar announced a $6.2 billion all-cash acquisition of TEGNA, valuing TEGNA at $22.00 per share. This acquisition has been approved by both companies’ boards and will result in a broadcasting entity with 265 full-power television stations across 44 states and the District of Columbia.
Following the announcement of the TEGNA deal, Benchmark and Guggenheim both raised their price targets for Nexstar to $250, maintaining a Buy rating on the stock. Benchmark highlighted the strategic coverage expansion to 80% of US households, while Guggenheim noted the potential for over 40% free cash flow accretion. These developments reflect Nexstar’s continued growth and strategic expansion in the broadcasting sector.
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