Would you like to invest in the largest television station operator in the US? We are talking about a company that owns close to 200 television stations across multiple geographies of the US. The name of the company that we are referring to is Nexstar Media Group, and it earns revenues from advertising, transmission, and digital media. As an investor, if you are bullish on the media sector, then you can either buy a media-focused ETF or mutual fund. You can look at ETFs like the Communications Services Select Sector SPDR ETF. Or, you can directly invest in the best media stocks to buy.
More about Nexstar Media Group
The Nexstar Media Group had its origins in 1996 when the company bought its first television station called WYOU in Scranton, Pennsylvania. Nexstar was founded by Perry Sook. The company has grown over the years through several acquisitions. In 2003, Nexstar acquired Quorum Broadcasting, the owners of 10 television stations. Between 2010 and 2020, Nexstar made several other acquisitions to become the largest television station operator in the US. As of December 2019, the company is believed to have reached some 39% of US television households. Nexstar Media Group is headquartered in Irving, Texas. Nexstar Media Group owns a 31.3% stake in Television Food Network as well as a portfolio of real estate. Nexstar Media Group is one of the top media stocks to buy.
Nexstar Media Group’s stock closed at $150 on 5th March 2021. The stock was trading at a 1.86% dividend yield at the time. Interestingly, Nexstar Media Group has gained more than 22% over the preceding 30 days. Since the March 2020 market fall, the stock is up an incredible 225%. Comcast and the Sinclair Broadcast Group are considered to be the peers of Nexstar. Comcast’s stock closed at $55 and is up 6% over the preceding month. Sinclair Broadcast Group’s stock closed at $36 on 5th March 2021, trading at a 2.2% dividend yield. The stock was up 186% since the March 2020 market crash.