Nexstar Q4 net revenue falls 13.4% to $1.29 billion; net loss of $170 million
Nexstar reported fourth-quarter 2025 net revenue of $1.29 billion, down 13.4% from a year earlier, mainly due to lower political advertising. The company posted a net loss of $170 million, compared with net income of $229 million a year earlier, after a $381 million impairment of its TV Food Network stake. It also issued 2026 standalone Adjusted EBITDA guidance of $1.95 billion to $2.05 billion.
Key points
- Fourth-quarter advertising revenue was $549 million, down 27.6%; political advertising fell $233 million to $21 million.
- Fourth-quarter Adjusted EBITDA was $433 million, down 31.1%, with margin of 33.6% versus 42.2%.
- Full-year 2025 net revenue was $4.95 billion, down 8.5%, and net income was $83 million versus $683 million.
- The proposed $6.2 billion TEGNA acquisition is anticipated to close by the second half of 2026, subject to regulatory approvals.
The filing
Written by AI on Nov 8, 2026, 12:58 AM ET, from this filing only. Written later: this filing was briefed after the fact, when past filings were added to the site, so the brief may be read with hindsight; the filing itself is the record of what was known on February 26, 2026.
Briefs are written by AI from the filing text and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the AI's reading of the filing for shareholders, not a price forecast. Not investment advice.