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Nexstar (NXST) Broadcasts the First Season of ACC Football
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Nexstar’s (NXST - Free Report) The CW Network (“The CW”) has started broadcasting the first season of Atlantic Coast Conference (ACC) college football, with a game between the Cincinnati Bearcats and Pitt Panthers at Acrisure Stadium in Pittsburgh, PA, from Sep 9.
The CW has collaborated with Verizon as the primary sponsor for ACC football and Subaru as the halftime sponsor for the entire season. Furthermore, the network will introduce more than 15 new advertisers, including top brands from industries like automotive, insurance, retail banking and pharmaceuticals, to kick off the first season of ACC football on The CW.
The network’s broadcast team for this year includes Tom Werme as the play-by-play announcer and James Bates as the analyst for all the games throughout the season. Tom Werme is an accomplished television sports announcer who has previously covered ACC college basketball on Raycom Sports. James Bates, who has won three regional Emmy Awards, has been a play-by-play commentator for CBS Sports' coverage of the Mountain West Conference.
The CW Network has obtained exclusive rights to air 50 ACC college football and basketball games each season through 2026-27. During the football season, these games will be broadcasted on Saturdays, both in the afternoon and primetime.
Recent Partnerships to Aid Nexstar’s Top-Line Growth
Nexstar has entered into some notable partnerships recently. These collaborations include partnerships with Fox (FOXA - Free Report) , Sinclair, Inc. (SBGI - Free Report) and Gray Television (GTN - Free Report) . These partnerships are expected to aid the company’s top-line growth in the upcoming quarters.
The Zacks Consensus Estimate for NXST’s 2023 revenues is pegged at $5.02 billion, indicating a year-over-year decline of 3.7%. The Zacks Consensus Estimate for earnings is pegged at a profit of $11.77 per share, indicating a year-over-year decline of 56.25%.
NXST and Fox recently entered into a multi-year agreement that renews the FOX affiliations of 29 Nexstar-owned stations across the United States, including those in six of the country's top 20 markets. Additionally, Fox has reached separate agreements to renew the FOX affiliations for 12 stations that have shared service agreements with Nexstar.
Sinclair’s new multi-year agreement extends affiliations in 35 markets. This includes 10 markets where Sinclair offers sales and various services to a CW-affiliated station. Moreover, from Sep 1, SBGI has introduced The CW on two new affiliate stations, such as KOMO-TV in Seattle, WA, and WPNT-TV in Pittsburgh, PA. These stations currently air LIV Golf and will now expand the programming to include the entire CW lineup.
According to a newly extended network affiliation agreement, Gray will maintain its broadcasting of The CW's entertainment and sports content on television stations in 55 markets throughout the United States. This includes 42 markets covered by a new agreement and 13 markets covered by existing agreements with the network. Furthermore, starting from Sep 2, GTN has introduced The CW on PeachtreeTV in Atlanta, GA.
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Nexstar (NXST) Broadcasts the First Season of ACC Football
Nexstar’s (NXST - Free Report) The CW Network (“The CW”) has started broadcasting the first season of Atlantic Coast Conference (ACC) college football, with a game between the Cincinnati Bearcats and Pitt Panthers at Acrisure Stadium in Pittsburgh, PA, from Sep 9.
The CW has collaborated with Verizon as the primary sponsor for ACC football and Subaru as the halftime sponsor for the entire season. Furthermore, the network will introduce more than 15 new advertisers, including top brands from industries like automotive, insurance, retail banking and pharmaceuticals, to kick off the first season of ACC football on The CW.
The network’s broadcast team for this year includes Tom Werme as the play-by-play announcer and James Bates as the analyst for all the games throughout the season. Tom Werme is an accomplished television sports announcer who has previously covered ACC college basketball on Raycom Sports. James Bates, who has won three regional Emmy Awards, has been a play-by-play commentator for CBS Sports' coverage of the Mountain West Conference.
The CW Network has obtained exclusive rights to air 50 ACC college football and basketball games each season through 2026-27. During the football season, these games will be broadcasted on Saturdays, both in the afternoon and primetime.
Nexstar Media Group, Inc Price and Consensus
Nexstar Media Group, Inc price-consensus-chart | Nexstar Media Group, Inc Quote
Recent Partnerships to Aid Nexstar’s Top-Line Growth
Nexstar has entered into some notable partnerships recently. These collaborations include partnerships with Fox (FOXA - Free Report) , Sinclair, Inc. (SBGI - Free Report) and Gray Television (GTN - Free Report) . These partnerships are expected to aid the company’s top-line growth in the upcoming quarters.
The Zacks Consensus Estimate for NXST’s 2023 revenues is pegged at $5.02 billion, indicating a year-over-year decline of 3.7%. The Zacks Consensus Estimate for earnings is pegged at a profit of $11.77 per share, indicating a year-over-year decline of 56.25%.
NXST and Fox recently entered into a multi-year agreement that renews the FOX affiliations of 29 Nexstar-owned stations across the United States, including those in six of the country's top 20 markets. Additionally, Fox has reached separate agreements to renew the FOX affiliations for 12 stations that have shared service agreements with Nexstar.
Sinclair’s new multi-year agreement extends affiliations in 35 markets. This includes 10 markets where Sinclair offers sales and various services to a CW-affiliated station. Moreover, from Sep 1, SBGI has introduced The CW on two new affiliate stations, such as KOMO-TV in Seattle, WA, and WPNT-TV in Pittsburgh, PA. These stations currently air LIV Golf and will now expand the programming to include the entire CW lineup.
According to a newly extended network affiliation agreement, Gray will maintain its broadcasting of The CW's entertainment and sports content on television stations in 55 markets throughout the United States. This includes 42 markets covered by a new agreement and 13 markets covered by existing agreements with the network. Furthermore, starting from Sep 2, GTN has introduced The CW on PeachtreeTV in Atlanta, GA.
Shares of this Zacks Rank #3 (Hold) company have declined 23.5% year to date against the Zacks Consumer Discretionary sector’s rise of 8.5% in the same period due to the emergence of 5G network technology in the realm of the over-the-top services. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.