The nation’s biggest owner of broadcast TV stations, the NewsNation cable TV network, and WGN-AM in Chicago — and the majority-interest holder in The CW Network — has experienced a bumpy 2023 on Wall Street. Like its peers, the often-cited “macroeconomic headwinds” have indeed created whitewater rapids for the company created in Scranton, Pa., by Perry Sook some three decades ago.
For investors, the focus may now be on 2024, as Nexstar Media Group released its Q3 2023 report. The company did not meet analysts’ estimates on revenue, as Sook spoke positively of how “recently negotiated distribution contracts” will benefit Nexstar starting with Q4 of this year.
