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Income Per Share (Tables)
9 Months Ended
Sep. 30, 2025
Earnings Per Share [Abstract]  
Summary of Income Per Share Basic and Diluted Available to Common Stockholders

Income per share (basic and diluted) available to common stockholders is presented below ($ in millions, except per share amounts, and shares in thousands):

 

 

Three Months Ended September 30,

 

 

Nine Months Ended September 30,

 

 

 

2025

 

 

2024

 

 

2025

 

 

2024

 

Net income attributable to Nexstar Media Group, Inc.

 

$

70

 

 

$

187

 

 

$

275

 

 

$

480

 

Accretion of redeemable noncontrolling interests

 

 

(4

)

 

 

(16

)

 

 

(12

)

 

 

(16

)

Net income available to common stockholders

 

$

66

 

 

$

171

 

 

$

263

 

 

$

464

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Weighted average shares outstanding – basic

 

 

30,319

 

 

 

32,020

 

 

 

30,357

 

 

 

32,759

 

Dilutive effect of equity incentive plan instruments

 

 

330

 

 

 

421

 

 

 

339

 

 

 

489

 

Weighted average shares outstanding – diluted

 

 

30,649

 

 

 

32,441

 

 

 

30,696

 

 

 

33,248

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net income per share available to common stockholders – basic

 

$

2.16

 

 

$

5.34

 

 

$

8.66

 

 

$

14.17

 

Net income per share available to common stockholders – diluted

 

$

2.14

 

 

$

5.27

 

 

$

8.57

 

 

$

13.96