Nexstar Media Group Director Dennis FitzSimons to Step Down After 2025 Annual Meeting

On March 21, 2025, Dennis FitzSimons notified Nexstar Media Group, Inc. that he will not seek re-election to the company’s Board of Directors. FitzSimons, who also serves on the Board’s Audit Committee, will fulfill the remainder of his current term and formally step down at Nexstar’s 2025 annual stockholders meeting.

The company emphasized that FitzSimons’ decision is not due to any disagreements with Nexstar’s management, board, or corporate policies and practices.

The announcement was included in Nexstar’s March 26, 2025 filing with the SEC on Form 8-K.

Nexstar Media Group reported record fourth-quarter 2024 net revenue of $1.49 billion, a 14.1% increase from the prior year, driven by strong political advertising and growth in distribution revenue. Net income for the quarter rose 129% to $229 million, while Adjusted EBITDA increased 39.9% to $628 million. The company generated $411 million in operating cash flow and Adjusted Free Cash Flow.

For the full year, Nexstar achieved a record $5.41 billion in revenue, marking a 9.6% increase from 2023. Net income more than doubled to $683 million, with Adjusted EBITDA reaching $2.004 billion, a 35.7% increase. The company also reduced its losses at The CW by $126 million for the year.

Nexstar returned $820 million to shareholders through dividends and stock repurchases, reducing shares outstanding by 8.9%, while also repaying $327 million in debt, lowering its net leverage ratio to 2.91x.

Looking ahead, the company has provided 2025 Adjusted EBITDA guidance in the range of $1.5 billion to $1.595 billion. Key initiatives include renewing distribution contracts for 60% of its subscriber base, further improving The CW's financial performance, and pursuing regulatory changes.

Nexstar Media Group, Inc. announced on January 29, 2025, that its Board of Directors declared a quarterly cash dividend of $1.86 per share on its outstanding common stock. The dividend is payable on February 26, 2025, to stockholders of record as of February 12, 2025.