Nexstar Media Group (NASDAQ: NXST), through its wholly owned subsidiary Nexstar Media Inc., has acquired “The Hill,” the nation’s leading, independent, political digital-media platform. In the announcement, Nexstar noted that the acquisition, which closed for $130 million plus working capital adjustments, should be immediately accretive to Nexstar’s operating results. The company reported that “The Hill” had 48 million average monthly users and 2.2 billion total page views in 2020, attracted more than 4 million followers and 914 million video views on Twitter, and received five times more Facebook interactions than any other political news website. According to the announcement, the unbiased political news platform of “The Hill” complements Nexstar’s leading digital platform, which saw record growth and audience engagement in 2020 as it was ranked No. 1 in local news every month throughout the year and reached record key performance indicators. “The accretive acquisition of The Hill’s independent, political digital media platform marks continued progress with Nexstar’s ‘content-first strategy’ and reflects our organization-wide commitment to deliver trusted, unbiased, fact-based journalism that engages and informs our audiences across all screens and devices,” said Nexstar president and COO Tom Carter in the press release. “The Hill has a nationally recognized brand known for delivering balanced political reporting, as well as authentic opinions and perspectives, and is highly complementary to Nexstar’s national cable news network, NewsNation. According to the January 2021 Ad Fontes Media Bias Chart, The Hill and NewsNation are two of the most centrist of leading news outlets in the U.S. The Hill acquisition presents the company with a fast-growing and profitable political digital news platform.”
To view the full press release, visit https://ibn.fm/PAxMP
About Nexstar Media Group Inc.
Nexstar Media Group is a leading diversified media company that leverages localism to bring new services and value to consumers and advertisers through its traditional media, digital and mobile media platforms. Its wholly owned operating subsidiary, Nexstar Media Inc., consists of three divisions: broadcasting, digital and networks. The Broadcasting Division operates, programs or provides sales and other services to 199 television stations and related digital multicast signals reaching 116 markets or approximately 39% of all U.S. television households (reflecting the FCC’s UHF discount). The division’s portfolio includes primary affiliates of NBC, CBS, ABC, FOX, MyNetworkTV and the CW. The Digital Division operates 120 local websites and 284 mobile apps offering hyperlocal content and verticals for consumers and advertisers, allowing audiences to choose where, when and how they access content and creating new revenue opportunities for the company. The Networks Division operates “NewsNation,” formerly WGN America, a national news and entertainment cable network reaching 75 million television homes as well as multicast network Antenna TV and WGN Radio in Chicago. Nexstar also owns a 31.3% ownership stake in TV Food Network, a top-tier cable asset. For more information about this company, please visit www.NexStar.tv.
NOTE TO INVESTORS: The latest news and updates relating to NXST are available in the company’s newsroom at https://ibn.fm/NXST
About InvestorWire
InvestorWire is the wire service that gives you more. From regional releases to global announcements presented in multiple languages, we offer the wire-grade dissemination products you’ll need to ensure that your next press release grabs the attention of your target audience and doesn’t let go. While our competitors look to nickel and dime you with hidden fees and restrictive word limits, InvestorWire keeps things transparent. We offer UNLIMITED Words on all domestic releases. While other wire services may provide a basic review of your release, InvestorWire helps you put your best foot forward with complimentary Press Release Enhancement.
With our competitors, the work is done the second your release crosses the wire. Not with InvestorWire. We include follow-up coverage of every release by leveraging the ever-expanding audiences of the 50+ brands that make up the InvestorBrandNetwork.
Get more out of your next press release with InvestorWire. It’s unlike anything you’ve seen before.
For more information, please visit https://www.investorwire.com
Please see full terms of use and disclaimers on the InvestorBrandNetwork website applicable to all content provided by IBN, wherever published or re-published: http://ibn.fm/Disclaimer
InvestorWire (IW)
8033 Sunset Blvd Suite 1037-IW
Los Angeles, CA 90046
310.299.1717 Office
www.investorwire.com
[email protected]
InvestorWire is part of the InvestorBrandNetwork.