Business 3 min read By Trevor Kendall
Nexstar Revenue Nearly Doubles to $2.1 Billion on Record Political Ad Sales
Nexstar's revenue in the third quarter of 2026 was about $2.1 billion, compared with $1.2 billion a year earlier, mainly due to record political advertising.
Nexstar Media Group recorded revenue of about $2.1 billion in the third quarter of 2026, almost twice the $1.2 billion for the same period last year. The main driver of growth was a sharp increase in political advertising ahead of the midterm elections.
According to the company, revenue from political advertising in the 2026 cycle approached $1.1 billion, a record for Nexstar. This is 31 percent more than political advertising revenue in the 2022 election cycle. For television broadcasters, political advertising is one of the most profitable segments, as campaigns spend substantial budgets on airtime in local news and national programs. This surge is especially notable given that the 2022 cycle was already considered strong for the industry, and now the figures are another third higher.
The reported results include the operations of Tegna. The Tegna acquisition has been fully integrated into Nexstar's overall totals, so the year-over-year comparison reflects not only organic growth but also the impact of this deal. For this reason, it is difficult to assess the business's dynamics without accounting for the merger, since part of the revenue increase is tied to adding new stations and their advertising streams to Nexstar's base.
During the earnings presentation, company executives separately addressed the appeal of the Tegna deal, that is, how it fits Nexstar's strategic goals. They also commented on the profit outlook for The CW network, which Nexstar also controls. The provided materials do not give specific figures for the network's expected profit, so the discussion of this issue is limited to an overview of management's positions.
Revenue growth from political advertising is traditionally temporary, as such income is concentrated around election cycles. After election campaigns end, political advertising budgets drop sharply, so investors typically watch closely whether the company can sustain its financial performance in the years between elections. The stability of operating revenue in non-election periods determines how much the record quarter reflects the business's long-term trajectory.
Nexstar's quarterly result stands out against the general demand for broadcast advertising during election periods, when local stations receive their largest inflows from political campaigns. At the same time, the $2.1 billion figure illustrates how strongly elections can change the financial picture for broadcasters over a short period.
Source: deadline.com
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