17 Aug 2026, 16:00 EDT
Nexstar Faces $147 Million Election Ad Revenue With Interest Costs at $190 Million
Nexstar Media Group, Inc. is benefiting from a spike in advertising during the election season. The funding cost for its TEGNA acquisition is higher.
NASDAQ: NXST · Election-cycle monitor
Campaign cash meets acquisition debt.
Political advertising is surging. The quarterly interest bill is still larger.
U.S. pre-market · 19 Aug 2026
Q2 2026 · $9m year earlier
Q2 2026 · up $93m
Q2 2026 · up 136%
The campaign tailwind does not cover financing alone
Interest expense was 129% of political-ad revenue. Incremental interest absorbed 67% of the year-on-year political increase.
Why Q2 grew
TEGNA supplied most of the scale. Election spending supplied the sharpest organic lift.
Total revenue$1.993bn · +62%
TEGNA revenue contribution$697m
Adjusted EBITDA$633m · +63%
TEGNA EBITDA contribution$187m
Debt repaid$409m
Revenue mix
Distribution remains the anchor. Political ads were 17.1% of advertising.
Analysts price in deleveraging
Five recent targets average $252.80, 36.8% above the last verified close.
CitiBuy$215
BarringtonBuy$290
Deutsche BankBuy$240
Wells FargoBuy$249
GuggenheimBuy$270
What can change the setup
November demandPolitical inventory should build, but normal ads can be crowded out.
TEGNA litigationThe hold-separate order delays a clean integration timetable.
Debt reductionLower borrowings must turn record revenue into durable equity cash flow.
Cord-cuttingSubscriber attrition still presses the distribution engine.
Price timestamp: August 17, 2026, 16:00 EDT, the latest independently verified close available for this dashboard. Financial figures are for Q2 2026 and rounded. Adjusted EBITDA and adjusted free cash flow are non-GAAP measures.
Nexstar-Tegna Merger Approved by FCC, DOJ as Lawsuits Threaten $6.2 Billion Local TV Deal
Thursday saw Nexstar Media Group finalize its $6.2 billion purchase of Tegna, cementing its spot as the largest owner of local TV stations in the U.S. The deal got the green light from both the FCC and Justice Department, but it’s not out of the woods—states and DirecTV are still fighting the merger in court. The enlarged Nexstar now controls 265 full-power stations across 44 states and Washington, D.C.
Nexstar-Tegna Merger Hit by 8-State Lawsuit, Threatening $6.2 Billion TV Deal
California, along with seven other states, filed suit late Wednesday aiming to halt Nexstar Media Group’s $6.2 billion deal for Tegna, a move that would vault Nexstar to the top spot among local TV station owners in the U.S. In a complaint lodged in federal court in Sacramento, the states argue the merger threatens to boost pay-TV prices and erode local news coverage by folding competing stations under one operator.
Nexstar (NXST) stock jumps as Trump backs Tegna deal and FCC ownership fight heats up
Nexstar Media Group surged 14.3% to $252.88 early Monday, building on strong gains after new political backing for its Tegna push grabbed investor attention. Tegna advanced 8.4%. Gray Media, E.W. Scripps, and Sinclair shares also moved higher.
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Record Closing Highs, GPT-5 Unleashed, and a $500 Billion Surprise – Business News Roundup (Aug 9–10, 2025)
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Salesforce Einstein GPT Unleashed: The Ultimate Guide to CRM’s AI Revolution
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