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Saga Communications, Inc. Board Refreshment Continues Naming Gregg Sutherland to Board of Directors
Globenewswire· 2025-10-01 20:58
GROSSE POINTE FARMS, Mich., Oct. 01, 2025 (GLOBE NEWSWIRE) -- Saga Communications, Inc. (Nasdaq - SGA) (the “Company,” “Saga,” “we” or “our”) announced today the increase of its number of board members to eight and the appointment of Gregg Sutherland to its Board of Directors. Mr. Sutherland was previously a Senior Partner at Ernst & Young where he served as the Strategy Consulting Practice Leader, Global and Americas. He was recently appointed as Chair of G2M Insights’ Board of Advisors. He previously serv ...
Is Fox Corporation Stock Outperforming the Dow?
Yahoo Finance· 2025-09-24 04:58
Fox Corporation (FOX) is a major U.S. mass media company specializing in broadcast television, news, and sports. Headquartered in New York City, it was formed in 2019 as a spin-off from 21st Century Fox, retaining assets such as Fox News, Fox Sports, Fox Television Stations, and the broadcast network FOX. Fox Corporation’s market capitalization stands at $25 billion, reflecting its position as a major player in the media landscape. Companies with a market cap of $10 billion or more are typically bucketed ...
TEGNA Stations Receive Six National 2025 Edward R. Murrow Awards
Globenewswire· 2025-08-15 17:00
Core Points - TEGNA Inc. has announced that its station KING in Seattle has received the Overall Excellence award in Large Market Television for the fourth consecutive year at the 2025 National Edward R. Murrow Awards [1][2] - The Murrow Awards are prestigious honors in broadcast journalism, recognizing outstanding achievements that uphold ethical standards and demonstrate the impact of journalism on communities [2] TEGNA Stations Awarded - KING in Seattle received multiple awards including Overall Excellence for "Stand for Truth," which emphasizes investigative journalism and community service [4] - KING also won awards for Excellence in Diversity, Equity and Inclusion for "The Buffalo Hunt," showcasing Indigenous culture and healing [5] - Additionally, KING was recognized for Sports Reporting with "Bumblebee's Legacy," highlighting mentorship and empowerment in an underserved community [6] - KARE in Minneapolis received the award for Excellence in Video for "Leave the Light On," focusing on the restoration of a historic lighthouse [3] - KUSA in Denver was awarded for a news series "Debt in the Dark," which uncovered unethical medical billing practices [7] - WFAA in Dallas won for Excellence in Writing with "I Need a Last Line," demonstrating effective storytelling across various formats [8] Company Overview - TEGNA Inc. operates 64 television stations across 51 U.S. markets, reaching over 100 million people monthly through various platforms [9]
Sinclair is exploring mergers for its broadcast business
CNBC· 2025-08-11 20:51
Group 1 - Sinclair Broadcast Group Inc. is launching a strategic review of its broadcast business, which may lead to a merger [1] - The company has engaged in discussions with potential merger partners, although no deal is guaranteed [2] - Sinclair is also considering spinning off its Ventures business, which includes the Tennis Channel, with board approval already obtained [2] Group 2 - The media industry anticipates deregulation under the Trump administration, particularly in the broadcast sector, potentially leading to increased mergers and acquisitions [3]
Scripps(SSP) - 2025 Q2 - Earnings Call Transcript
2025-08-08 14:00
Financial Data and Key Metrics Changes - The company closed on the placement of $750 million of new senior secured second lien notes, using proceeds to pay off outstanding senior notes and a portion of Term Loan B2, leaving $36 million remaining [6] - The second quarter earnings per share were a loss of $0.59, impacted by $38 million of financing transaction costs and other adjustments [16] - Cash and cash equivalents totaled $31.7 million at June 30, with net leverage at the end of Q2 at 4.4x, a half turn below the end of Q1 [16][17] Business Line Data and Key Metrics Changes - Local Media division revenue declined 8% year-over-year due to lack of political advertising revenue, with local media segment profit nearly $56 million compared to $88 million in 2024 [8][12] - Scripps Networks revenue was $206 million, down 1.4% from the previous year, but CTV revenue increased by 57% [13][14] - The Other segment reported a loss of $7 million, an improvement from a loss of $9.2 million in the prior year [15] Market Data and Key Metrics Changes - Local Media distribution revenue was down 1% year-over-year, with a 5% increase in retail advertising [10][11] - The company expects Local Media division revenue to decline in the mid to high 20% range for Q3, while Scripps Networks division revenue is expected to be down low single digits [12][15] Company Strategy and Development Direction - The company is focused on debt reduction as a top priority, with plans to pay off remaining term loan balances through cash flow [7][20] - Scripps is pursuing opportunities for portfolio optimization and local coverage expansion through station swaps and asset sales [21][31] - The company anticipates industry deregulation will enhance its financial strength and local programming capabilities [21][22] Management's Comments on Operating Environment and Future Outlook - Management noted a soft advertising climate but highlighted strong performance in sports advertising, particularly from the NBA Finals and NHL playoffs [9][19] - There is ongoing uncertainty in the advertising market, particularly in the automotive sector, which has seen significant weakness [46][50] - Management remains optimistic about potential recovery in advertising demand as economic uncertainties resolve [50] Other Important Information - The company has introduced an accounts receivable securitization facility with a capacity of $450 million, contributing to debt management [7] - The management team is executing a plan to improve financial performance and operating profile, with a focus on shareholder value [20][26] Q&A Session Summary Question: Insights on deregulation and future opportunities - Management believes greater depth in market is necessary for asset performance and is actively pursuing swaps and asset sales to improve portfolio durability [30][31] Question: Clarification on Q3 guidance - Core advertising is expected to be flat, with political contributions anticipated to build throughout the year, primarily impacting Q4 [35][36] Question: Current advertising environment and advertiser sentiment - The advertising environment is characterized by hesitancy, particularly in the automotive sector, but there is hope for recovery as uncertainties diminish [44][50] Question: Impact of search traffic decline and AI - The company employs technical solutions to protect its IP and anticipates mixed impacts from AI on direct traffic and brand building [52][55] Question: Thoughts on CBS non-renewal in Atlanta market - Management views the CBS non-renewal as a one-off situation rather than a trend, indicating a changing value perception between networks and affiliates [60] Question: Net retransmission margin expectations - The company expects net retrans margin expansion due to expense savings in programming, despite ongoing subscriber churn [62][65] Question: Contribution of sports strategy to core advertising - The sports strategy is estimated to contribute low single digits to core advertising growth, with specific revenue impacts from recent sports events [68][70]
Nexstar Media(NXST) - 2025 Q2 - Earnings Call Transcript
2025-08-07 15:02
Financial Data and Key Metrics Changes - Nexstar reported second quarter net revenue of $1,230,000,000, a decline of 3.2% compared to the prior year, primarily due to reduced political advertising [17] - Adjusted EBITDA for the second quarter was $389,000,000, representing a 31.7% margin, down $25,000,000 from $414,000,000 in the same quarter last year [24] - Adjusted free cash flow for the quarter was $101,000,000, an increase from $77,000,000 in the previous year [27] Business Line Data and Key Metrics Changes - Advertising revenue decreased by $47,000,000 or 9% year-over-year to $475,000,000, with a $36,000,000 decline in political advertising [18] - Distribution revenue was $733,000,000, essentially flat compared to the prior year, reflecting modest subscriber renewals and MVPD subscriber attrition [17] - The CW network achieved five consecutive quarters of audience growth and was ranked the eighth most-watched network for the first half of 2025 [22] Market Data and Key Metrics Changes - The advertising outlook remains stable, with non-political advertising forecasted to decline in the low single digits year-over-year for the third quarter [19] - Local television news remains the most trusted news source, with audiences of all ages turning to local news programming [11] - The CW's profitability improved by $21,000,000 year-over-year, driven by reduced amortization of broadcast rights and lower operating expenses [22] Company Strategy and Development Direction - Nexstar's strategy focuses on high-impact news and sports programming, with sports now accounting for over 40% of the CW's programming hours [20] - The company is pursuing regulatory reform opportunities, including potential changes to the national ownership cap and the top four rule [14][15] - Nexstar aims to renew distribution agreements and continue the CW's path to profitability, with expectations of achieving profitability in 2026 [16][22] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about the advertising environment, noting that trends are performing as expected without significant negative impacts [72] - There are early signs of improvement in video subscriber trends, particularly from major MVPDs [6] - The company remains focused on executing its 2025 objectives and is energized by prospects for regulatory reform [16] Other Important Information - Nexstar returned $238,000,000 or 53% of adjusted free cash flow to shareholders through share repurchases and dividends [6] - The company refinanced its credit facilities and term loans, extending maturities and strengthening its capital structure [30] - The CW's losses in the quarter were better by about $21,000,000 compared to the previous year, with expectations of a 25% reduction in losses for the year [71] Q&A Session Summary Question: Thoughts on Chairman Carr's letters to networks and M&A opportunities - Management indicated that growing the national footprint is strategically important, and they are open to M&A opportunities that create shareholder value [34][35] Question: Importance of increasing O&Os for CW in M&A scenarios - While increasing O&Os is beneficial, it is not the primary strategic priority; the focus remains on overall shareholder value [46] Question: Additional sports opportunities for CW - Management expressed interest in pursuing more college sports and noted the positive response from the advertising community to CW's sports programming [55] Question: Economic environment and ad market trends - Management reported that the ad environment is performing as expected, with no significant negative trends observed [72] Question: Trends in digital advertising - Digital advertising continues to grow, particularly in local markets, with mid-single-digit growth overall [77] Question: CW losses and profitability outlook - CW losses improved by $21,000,000 year-over-year, with expectations of achieving profitability in 2026 [71]
Nexstar Media(NXST) - 2025 Q2 - Earnings Call Transcript
2025-08-07 15:00
Financial Data and Key Metrics Changes - Nexstar reported second quarter net revenue of $1,230,000,000, a decline of 3.2% compared to the prior year, primarily due to a reduction in political advertising [16] - Adjusted EBITDA for the second quarter was $389,000,000, representing a 31.7% margin, down $25,000,000 from $414,000,000 in the same quarter of the previous year [25] - Adjusted free cash flow for the quarter was $101,000,000, an increase from $77,000,000 in the prior year [27] Business Line Data and Key Metrics Changes - Distribution revenue was $733,000,000, essentially flat compared to the prior year, reflecting modest subscriber renewals and MVPD subscriber attrition [16] - Advertising revenue decreased by $47,000,000 or 9% year-over-year, with political advertising down $36,000,000 [17] - Non-political advertising declined by 2.5% year-over-year, with a notable decline in goods-based advertising, particularly in the automotive sector [17] Market Data and Key Metrics Changes - The company noted early signs of improvement in video subscriber trends from major MVPDs, although a definitive turnaround has not yet been observed [4] - Public trust in local broadcast journalism remains strong, with local television news cited as the most trusted news source according to a 2024 survey [10] Company Strategy and Development Direction - Nexstar is focused on regulatory reform, with recent developments suggesting potential changes to the national ownership cap and the top four rule, which could enhance market opportunities [13] - The company continues to emphasize high-impact news and sports programming, with sports now accounting for over 40% of CW's programming hours [19] - Nexstar aims to achieve profitability for the CW by 2026, with expectations of improved profitability of about 25% in 2025 over 2024 [21] Management's Comments on Operating Environment and Future Outlook - Management expressed a stable outlook for advertising revenue despite broader economic uncertainties, noting that spending intentions remain positive [74] - The company remains optimistic about the advertising outlook, particularly in the context of upcoming political revenue impacts in the second half of the year [73] Other Important Information - Nexstar returned $106,000,000 to shareholders in the quarter, comprising $56,000,000 in dividends and $50,000,000 in stock repurchases [29] - The company refinanced its credit facilities, extending maturities and improving financial flexibility [30] Q&A Session Summary Question: Thoughts on Chairman Carr's letters to networks and M&A opportunities - Management indicated that growing the national footprint is strategically important, and they are open to M&A opportunities that create shareholder value [34] Question: Importance of increasing O&Os for CW in M&A scenarios - While increasing O&Os is beneficial, it is not the primary strategic priority; the focus remains on overall shareholder value [46] Question: Additional sports opportunities for CW - Management expressed interest in pursuing more college sports and noted ongoing discussions in that area [56] Question: Trends in digital advertising - Digital advertising continues to grow, particularly in the local business segment, with overall growth in the mid-single digits [77] Question: Updated thoughts on the economic environment - Management feels the advertising environment is performing as expected, with no significant negative trends observed [73]
TEGNA Inc. Reports Second Quarter 2025 Results and Provides Third Quarter Guidance
Globenewswire· 2025-08-07 11:30
Core Insights - TEGNA Inc. reported a 5% decrease in total revenue to $675 million for the second quarter of 2025, primarily due to lower political advertising revenue and advertising and marketing services revenue [3][15][18] - The company reaffirmed its two-year adjusted free cash flow guidance for 2024/2025, estimating it to be between $900 million and $1.1 billion [5][25] - TEGNA's CEO highlighted the company's commitment to enhancing local journalism and expanding digital experiences, alongside a significant increase in local news coverage by 100 hours a day [2][9] Financial Performance - Total company revenue decreased by 5% year-over-year, with distribution revenue remaining flat at $370 million and advertising and marketing services revenue down 4% to $288 million [3][15][18] - GAAP net income attributable to TEGNA Inc. was $68 million, a 17% decline from the previous year, with diluted earnings per share at $0.42 [3][16][34] - Adjusted EBITDA fell 14% to $151 million, primarily due to lower political advertising and AMS revenue, although cost-cutting initiatives provided some offset [3][34] Operational Highlights - The company achieved a net cash flow from operations of $100 million and adjusted free cash flow of $96 million, returning $20 million to shareholders through dividends [3][36] - TEGNA's net leverage ratio stood at 2.8x at the end of the second quarter, with cash and cash equivalents totaling $757 million [3][36] - The company redeemed $250 million of senior notes due in 2026, reflecting proactive debt management [3][36] Strategic Initiatives - TEGNA announced the addition of over 100 hours of new daily local programming across more than 50 markets, aiming to enhance content and distribution channels [9] - The company appointed vice presidents of content to focus on localized storytelling and cross-platform news delivery [9] - A multi-year deal was reached with FOX Corporation to renew station affiliation agreements for six TEGNA markets, covering approximately 7% of TEGNA households [9]
Mike Lindell Media Corp. OTC: MLMC Announces Its New Breaking News Coverage and Tip Line Headed up by Spin Room Anchor, Vanessa Broussard of LINDELLTV
Globenewswire· 2025-08-07 10:00
Have you ever wanted to report a newsworthy event or hot news tip? Sign up now! Don't Just Watch The News - Make The News through LINDELLTV and VOCL SOCIAL Got a Serious News Tip? Become a newsmaker and "Break the Story" with LINDELLTV at News@LindellTV.com Vanessa Broussard said, "I'm honored to step into this new role at LindellTV, overseeing the breaking news desk. In this fast-moving media landscape, delivering timely, accurate, and impactful news is more important than ever. I'm excited to lead a team ...
NBCUniversal Wraps Upfront Sales Process, Citing Record Volume Largely Due To Live Sports
Deadline· 2025-07-15 18:10
Group 1 - NBCUniversal has completed its 2025-26 upfront negotiations, reporting record ad sales volume but not disclosing total revenue or rates [1] - Live sports events, including the Milan Cortina Olympics, Super Bowl LX, and FIFA World Cup, significantly contributed to the sales effort, surpassing previous benchmarks [1] Group 2 - Peacock accounted for one-third of total upfront ad sales volume, achieving a new record, marking the digital upfront as the largest in the company's history [2] - The return of the NBA to NBC starting this fall was highlighted as another key driver for ad sales, with games also set to stream on Peacock [2]