Broadcast Giant Nexstar Misses Q2 Estimates, Says It Is “Executing” CW Plan As Network Losses Shrink

Broadcast TV giant Nexstar Media Group undershot Wall Street analysts' estimates for the second quarter, but said losses are continuing to narrow at The CW. The company reported a 2% uptick in revenue in the second quarter to $1.27 billion, which was short of forecasts for$1.3 billion. Diluted earnings per share of $3.54 improved by 90 cents over the year-earlier period but did not hit the Street's target of$4.17. "During the quarter, we continued executing on our plan at The CW, reducing operating losses ...