Nexstar Broadcasting Group (NXST), the largest local television broadcaster in the United States, witnessed a significant surge in its stock price on Friday, soaring 5.49% in pre-market trading. This rally comes on the heels of the company's remarkable fourth-quarter 2024 financial results and an optimistic outlook for 2025.

Nexstar reported record-breaking total net revenue of $5.4 billion for the full year 2024, marking a 14% year-over-year increase in the fourth quarter. Notably, the company maintained its strong position in political advertising, generating $491 million in revenue and capturing a 13% market share of all television political advertising spending.

The company's financial strength was further underscored by an adjusted EBITDA of $2 billion for 2024, with the fourth quarter contributing $628 million, representing an impressive 42.2% margin. This robust performance enabled Nexstar to return $820 million to shareholders through share repurchases and dividends, reducing outstanding shares by nearly 9% during the year.

One of the key highlights was the significant progress made in transforming The CW network into a top-tier broadcast network. Nexstar successfully reduced losses at The CW by approximately 50% in 2024 and expects an additional 25% reduction in 2025, driven by the network's strategic focus on high-quality entertainment, unscripted live events, and sports programming.

Additionally, Nexstar implemented a strategic operational restructuring initiative in the fourth quarter, which is expected to generate cost savings in the low to mid-eight figures in 2025. This move is aimed at enhancing efficiency and driving long-term growth while prioritizing initiatives that directly impact viewers, partners, and customers.

Looking ahead, Nexstar's management team remains optimistic about the company's prospects, driven by potential deregulation in the broadcast industry and the company's unique positioning as a top affiliate group for the major networks. The company provided adjusted EBITDA guidance for 2025 in the range of $1.5 billion to $1.595 billion, reflecting confidence in its ability to navigate the evolving media landscape.

With its impressive financial performance, strategic initiatives, and positive outlook, Nexstar Broadcasting Group has reinforced its position as a leading player in the industry, cementing its commitment to delivering long-term growth and value for its shareholders.