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Nexstar Media Group ( (NXST) ) has provided an update.
On March 20, 2026, Nexstar Media Group announced that its subsidiary Nexstar Media Inc. plans a private offering of $3.39 billion in senior secured notes due 2033 and $1.725 billion in senior unsecured notes due 2034, guaranteed by Nexstar, Mission Broadcasting and certain subsidiaries. The notes, to be sold to qualified institutional and non-U.S. investors under Rule 144A and Regulation S, will not be registered under U.S. securities laws.
Proceeds from the secured notes, together with cash on hand, are earmarked to repay bridge and senior secured credit facilities tied to the closing of the TEGNA acquisition, fund the purchase of TEGNA’s 5.00% notes due 2029 via tender offer, and cover related fees and expenses. Funds from the unsecured notes will be used to redeem Nexstar Media’s 5.625% senior notes due 2027 and pay associated costs, advancing the post-merger refinancing of Nexstar’s and TEGNA’s debt and reshaping the combined group’s capital structure.
In connection with the notes marketing, Nexstar furnished potential investors with unaudited pro forma condensed combined financial information and supplemental combined financial data reflecting the merger with TEGNA and related financings as if consummated at earlier dates. Management cautioned that these preliminary pro forma figures are for informational purposes only, are not indicative of actual or future performance, and may differ significantly from the ultimate financial results of the combined company.
The most recent analyst rating on (NXST) stock is a Buy with a $290.00 price target. To see the full list of analyst forecasts on Nexstar Media Group stock, see the NXST Stock Forecast page.
Spark’s Take on NXST Stock
According to Spark, TipRanks’ AI Analyst, NXST is a Neutral.
The score is led by strong technical uptrend and solid valuation (moderate P/E with a meaningful dividend), while financial performance is held back by the sharp 2025 earnings reset and leverage risk despite resilient free cash flow. Earnings-call guidance is constructive for 2026, but near-term cyclicality and execution risks (advertising mix, subscriber attrition, and transaction costs) temper the outlook.
To see Spark’s full report on NXST stock, click here.
More about Nexstar Media Group
Nexstar Media Group, Inc., based in Irving, Texas, is a leading diversified media company that produces and distributes local and national news, sports and entertainment content across its television and digital platforms. The company operates primarily in the U.S. broadcast and digital media markets through Nexstar Media Inc. and affiliated entities.
Average Trading Volume: 326,737
Technical Sentiment Signal: Strong Buy
Current Market Cap: $6.76B
Find detailed analytics on NXST stock on TipRanks’ Stock Analysis page.