Nexstar Media (NXST) 10-Q 9 Aug 17 2017 Q2 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	6 Months Ended
	Jun. 30, 2017	Aug. 07, 2017
Document And Entity Information [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Jun. 30, 2017
Document Fiscal Year Focus	2,017
Document Fiscal Period Focus	Q2
Trading Symbol	NXST
Entity Registrant Name	NEXSTAR MEDIA GROUP, INC.
Entity Central Index Key	1,142,417
Current Fiscal Year End Date	--12-31
Entity Current Reporting Status	Yes
Entity Filer Category	Large Accelerated Filer
Entity Common Stock, Shares Outstanding		46,218,124

CONDENSED CONSOLIDATED BALANCE

CONDENSED CONSOLIDATED BALANCE SHEETS (unaudited) - USD ($) $ in Thousands		Jun. 30, 2017	Dec. 31, 2016
Current assets:
Cash and cash equivalents		$ 85,902	$ 87,680
Accounts receivable, net of allowance for doubtful accounts of $18,337 and $5,805, respectively		503,119	218,058
Spectrum auction asset		459,004
Restricted cash			26,719
Prepaid expenses and other current assets		30,490	30,760
Total current assets		1,078,515	363,217
Property and equipment, net		738,727	276,153
Goodwill		2,145,868	473,304
FCC licenses		1,831,341	542,524
Other intangible assets, net		1,606,025	324,737
Restricted cash			901,080
Other noncurrent assets, net		69,141	85,070
Total assets	[1]	7,469,617	2,966,085
Current liabilities:
Current portion of debt		57,860	28,093
Current portion of broadcast rights payable		16,402	16,512
Accounts payable		27,932	19,754
Accrued expenses		200,319	71,315
Taxes payable		171,635
Interest payable		34,653	44,190
Contingent consideration liability		275,352
Other current liabilities		10,295	9,714
Total current liabilities		794,448	189,578
Debt		4,377,670	2,314,326
Deferred tax liabilities		886,644	132,008
Other noncurrent liabilities		207,309	45,819
Total liabilities	[1]	6,266,071	2,681,731
Commitments and contingencies
Stockholders' equity:
Preferred stock - $0.01 par value, 200,000 shares authorized; none issued and outstanding at each of June 30, 2017 and December 31, 2016
Additional paid-in capital		1,380,035	386,921
Accumulated deficit		(125,433)	(176,583)
Treasury stock - at cost; 1,073,339 and 876,744 shares at June 30, 2017 and December 31, 2016, respectively		(64,763)	(41,513)
Total Nexstar Media Group, Inc. stockholders' equity		1,190,312	169,141
Noncontrolling interests in consolidated variable interest entities		13,234	115,213
Total stockholders' equity		1,203,546	284,354
Total liabilities and stockholders' equity		7,469,617	2,966,085
Class A Common Stock [Member]
Stockholders' equity:
Common stock		473	316
Total stockholders' equity		$ 473	$ 316
[1]	The consolidated total assets as of June 30, 2017 and December 31, 2016 include certain assets held by consolidated VIEs of $470.8 million and $226.2 million, respectively, which are not available to be used to settle the obligations of Nexstar. The consolidated total liabilities as of June 30, 2017 and December 31, 2016 include certain liabilities of consolidated VIEs of $61.4 million and $39.2 million, respectively, for which the creditors of the VIEs have no recourse to the general credit of Nexstar. See Note 2 for additional information.

CONDENSED CONSOLIDATED BALANCE3

CONDENSED CONSOLIDATED BALANCE SHEETS (unaudited) (Parenthetical) - USD ($) $ in Thousands	Jun. 30, 2017	Dec. 31, 2016
Current assets:
Accounts receivable, allowance for doubtful accounts	$ 18,337	$ 5,805
Stockholders' equity:
Preferred stock, par value	$ 0.01	$ 0.01
Preferred stock, shares authorized	200,000	200,000
Preferred stock, shares issued	0	0
Preferred stock, shares outstanding	0	0
Treasury Stock, Shares	1,073,339	876,744
Consolidated VIEs [Member]
ASSETS
Consolidated VIEs, Assets	$ 470,847	$ 226,198
LIABILITIES AND STOCKHOLDERS' EQUITY
Consolidated VIEs, Liabilities	$ 61,434	$ 39,196
Class A Common Stock [Member]
Stockholders' equity:
Common stock, par value	$ 0.01	$ 0.01
Common stock, shares authorized	100,000,000	100,000,000
Common stock, shares issued	47,291,463	31,621,369
Common stock, shares outstanding	46,218,124	30,744,625
Class B Common Stock [Member]
Stockholders' equity:
Common stock, par value	$ 0.01	$ 0.01
Common stock, shares authorized	20,000,000	20,000,000
Common stock, shares issued	0	0
Common stock, shares outstanding	0	0
Class C Common Stock [Member]
Stockholders' equity:
Common stock, par value	$ 0.01	$ 0.01
Common stock, shares authorized	5,000,000	5,000,000
Common stock, shares issued	0	0
Common stock, shares outstanding	0	0

CONDENSED CONSOLIDATED STATEMEN

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (unaudited) - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2017	Jun. 30, 2016
Revenues [Abstract]
Net revenue	$ 626,115	$ 261,994	$ 1,166,432	$ 517,652
Operating expenses:
Direct operating expenses, excluding depreciation and amortization	252,610	92,935	471,339	183,058
Selling, general, and administrative expenses, excluding depreciation and amortization	144,285	65,772	318,587	133,937
Amortization of broadcast rights	25,686	15,222	50,153	30,026
Amortization of intangible assets	38,557	11,319	86,715	23,398
Depreciation	26,292	12,739	48,518	25,297
Gain on disposal of stations, net			(57,716)
Total operating expenses	487,430	197,987	917,596	395,716
Income from operations	138,685	64,007	248,836	121,936
Interest expense, net	(55,685)	(20,577)	(134,922)	(41,231)
Loss on extinguishment of debt	(1,323)		(33,127)
Other expenses	(900)	(147)	(1,007)	(283)
Income before income taxes	80,777	43,283	79,780	80,422
Income tax expense	(32,322)	(18,484)	(26,381)	(33,349)
Net income (loss)	48,455	24,799	53,399	47,073
Net income attributable to noncontrolling interests	(4,463)	(270)	(3,358)	(817)
Net income attributable to Nexstar Media Group, Inc.	$ 43,992	$ 24,529	$ 50,041	$ 46,256
Net income per common share attributable to Nexstar Media Group, Inc.:
Basic	$ 0.94	$ 0.80	$ 1.10	$ 1.51
Diluted	$ 0.91	$ 0.78	$ 1.07	$ 1.46
Weighted average number of common shares outstanding:
Basic	46,931	30,680	45,573	30,669
Diluted	48,195	31,620	46,815	31,579
Dividends declared per common share	$ 0.30	$ 0.24	$ 0.60	$ 0.48

CONDENSED CONSOLIDATED STATEME5

CONDENSED CONSOLIDATED STATEMENT OF CHANGES IN STOCKHOLDERS' EQUITY (unaudited) - 6 months ended Jun. 30, 2017 - USD ($) $ in Thousands	Total	Class A Common Stock [Member]	Class B Common Stock [Member]	Class C Common Stock [Member]	Additional Paid-In Capital [Member]	Accumulated Deficit [Member]	Treasury Stock [Member]	Noncontrolling interest in a consolidated variable interest entity [Member]
Balance at Dec. 31, 2016	$ 284,354	$ 316			$ 386,921	$ (176,583)	$ (41,513)	$ 115,213
Balance, Shares at Dec. 31, 2016		31,621,369	0	0
Balance, Shares at Dec. 31, 2016	(876,744)						(876,744)
Issuance/reissuance of stock in connection with the Merger	$ 1,031,443	$ 157			1,007,956		$ 23,330
Issuance/reissuance of stock in connection with the Merger, shares		15,670,094					560,316
Stock option replacement awards in connection with the Merger	10,702				10,702
Purchase of treasury stock	(58,294)						$ (58,294)
Purchase of treasury stock, shares							(1,001,640)
Stock-based compensation expense	11,309				11,309
Vesting of restricted stock units and exercise of stock options	3,129				(8,585)		$ 11,714
Vesting of restricted stock units and exercise of stock options, shares							244,729
Common stock dividends declared	(28,268)				(28,268)
Purchase of noncontrolling interests from variable interest entities	(108,694)							(108,694)
Consolidation of variable interest entities	7,600							7,600
Deconsolidation of a variable interest entity	(3,655)					345		(4,000)
Distribution to a noncontrolling interest	(243)							(243)
Net income (loss)	53,399					50,041		3,358
Balance at Jun. 30, 2017	$ 1,203,546	$ 473			$ 1,380,035	(125,433)	$ (64,763)	$ 13,234
Balance, Shares at Jun. 30, 2017		47,291,463	0	0
Balance, Shares at Jun. 30, 2017	(1,073,339)						(1,073,339)
Adjustment to adopt ASU 2016-16 | ASU 2016-16 [Member]	$ 764					$ 764

CONDENSED CONSOLIDATED STATEME6

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (unaudited) $ in Thousands	6 Months Ended
	Jun. 30, 2017USD ($)	Jun. 30, 2016USD ($)
Cash flows from operating activities:
Net income	$ 53,399	$ 47,073
Adjustments to reconcile net income to net cash (used in) provided by operating activities:
Provision for bad debt	4,081	1,394
Amortization of broadcast rights, excluding barter	29,997	11,857
Depreciation of property and equipment	48,518	25,297
Amortization of intangible assets	86,715	23,398
Gain on asset disposal, net	(58,595)	(269)
Amortization of debt financing costs and debt discounts	5,157	1,900
Loss on extinguishment of debt	33,127
Stock-based compensation expense	11,309	6,089
Deferred income taxes	(185,535)	19,013
Payments for broadcast rights	(29,479)	(11,838)
Deferred gain recognition	(241)	(218)
Amortization of deferred representation fee incentive	(594)	(583)
Change in the fair value of contingent consideration		2,091
Changes in operating assets and liabilities, net of acquisitions and dispositions:
Accounts receivable	13,258	(14,415)
Prepaid expenses and other current assets	32,178	(7,342)
Other noncurrent assets	(70)	174
Accounts payable, accrued expenses and other current liabilities	(29,685)	5,709
Taxes payable	154,291	127
Interest payable	(22,331)	117
Other noncurrent liabilities	(7,618)	(189)
Net cash provided by operating activities	137,882	109,385
Cash flows from investing activities:
Purchases of property and equipment	(27,691)	(15,035)
Payments for acquisitions, net of cash acquired	(2,971,194)	(103,969)
Withdrawal of interest previously deposited in escrow	5,063
Proceeds from sale of stations	481,944
Proceeds from disposals of property and equipment	14,575	335
Net cash used in investing activities	(2,497,303)	(118,669)
Cash flows from financing activities:
Proceeds from long-term debt	3,981,861	58,000
Repayments of long-term debt	(1,390,798)	(48,076)
Premium paid on debt extinguishment	(18,050)
Payments for debt financing costs	(51,357)	(100)
Purchase of treasury stock	(58,294)
Proceeds from exercise of stock options	3,303	213
Common stock dividends paid	(28,268)	(14,716)
Purchase of noncontrolling interests	(66,901)	(100)
Distribution to a noncontrolling interest	(243)
Payments for contingent consideration in connection with an acquisition	(5,000)
Cash paid for shares withheld for taxes	(4,032)
Payments for capital lease obligations	(4,578)	(2,171)
Net cash provided by financing activities	2,357,643	(6,950)
Net decrease in cash and cash equivalents	(1,778)	(16,234)
Cash and cash equivalents at beginning of period	87,680	43,416
Cash and cash equivalents at end of period	85,902	27,182
Supplemental information:
Interest paid	117,646	39,214
Income taxes paid, net of refunds	51,972	23,682
Non-cash investing and financing activities:
Accrued purchases of property and equipment	3,325	2,161
Noncash purchases of property and equipment	9,937	709
Accrued debt financing costs		$ 542
Issuance/reissuance of Class A Common Stock in connection with the Merger	1,031,443
Stock option replacement awards in connection with the Merger	10,702
Contingent consideration payable in connection with the Merger	$ 275,352

Organization and Business Opera

Organization and Business Operations	6 Months Ended
	Jun. 30, 2017
Organization Consolidation And Presentation Of Financial Statements [Abstract]
Organization and Business Operations	1. Organization and Business Operations As of June 30, 2017, Nexstar Media Group, Inc. and its wholly-owned subsidiaries (“Nexstar”) owned, operated, programmed or provided sales and other services to 170 full power television stations, including those owned by variable interest entities (“VIEs”), in 100 markets in the states of Alabama, Arizona, Arkansas, California, Colorado, Connecticut, Florida, Georgia, Hawaii, Illinois, Indiana, Iowa, Kansas, Louisiana, Maryland, On January 17, 2017, Nexstar completed its merger (the “Merger”) with Media General, Inc., a Virginia corporation (“Media General”), whereby Nexstar acquired the latter’s outstanding equity in exchange for cash and stock, plus additional consideration in the form of a non-tradeable contingent value right (“CVR”). As a result of the Merger, Nexstar acquired 71 full power stations (net of seven stations divested) in 42 markets. See Note 3 for additional information.

Summary of Significant Accounti

Summary of Significant Accounting Policies	6 Months Ended
	Jun. 30, 2017
Accounting Policies [Abstract]
Summary of Significant Accounting Policies	2. Summary of Significant Accounting Policies Principles of Consolidation The Condensed Consolidated Financial Statements include the accounts of Nexstar and the accounts of independently-owned VIEs for which Nexstar is the primary beneficiary (See Note 2—Variable Interest Entities). Nexstar and the consolidated VIEs are collectively referred to as the “Company.” Noncontrolling interests represent the VIE owners’ share of the equity in the consolidated VIEs and are presented as a component separate from Nexstar Media Group, Inc. stockholders’ equity. All intercompany account balances and transactions have been eliminated in consolidation. Nexstar management evaluates each arrangement that may include variable interests and determines the need to consolidate an entity where it determines Nexstar is the primary beneficiary of a VIE in accordance with related authoritative literature and interpretive guidance. Effective January 17, 2017, Nexstar assumed local service agreements to provide sales, programming and other services to stations owned by VIEs with whom Media General had agreements. Nexstar became the primary beneficiaries of these VIEs and consolidated these entities as of this date. On August 2, 2016, Nexstar became the primary beneficiary of certain stations owned by West Virginia Media Holdings, LLC (“WVMH”) which were consolidated into Nexstar’s financial statements as of this date. Nexstar completed the acquisition of these stations on January 31, 2017 and they are no longer VIEs. See Note 2—Variable Interest Entities for additional information on these transactions. The following are assets of consolidated VIEs that are not available to settle the obligations of Nexstar and the liabilities of consolidated VIEs for which their creditors do not have recourse to the general credit of Nexstar (in thousands): June 30, December 31, 2017 2016 Current assets $ 52,540 $ 3,638 Property and equipment, net 8,506 6,944 Goodwill 144,479 46,465 FCC licenses 177,311 114,791 Other intangible assets, net 84,080 53,747 Other noncurrent assets, net 3,931 613 Total assets 470,847 226,198 Current liabilities 23,173 12,606 Noncurrent liabilities 38,261 26,590 Total liabilities $ 61,434 $ 39,196 Liquidity Nexstar is highly leveraged, which makes it vulnerable to changes in general economic conditions. Nexstar’s ability to repay or refinance its debt will depend on, among other things, financial, business, market, competitive and other conditions, many of which are beyond Nexstar’s control. Interim Financial Statements The Condensed Consolidated Financial Statements as of June 30, 2017 and for the three and six months ended June 30, 2017 and 2016 are unaudited. However, in the opinion of management, such financial statements include all adjustments (consisting solely of normal recurring adjustments) necessary for the fair statement of the financial information included herein in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”) and pursuant to the rules and regulations of the Securities and Exchange Commission (the “SEC”). The preparation of the Condensed Consolidated Financial Statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and the disclosure of contingent assets and liabilities at the date of the financial statements and reported amounts of revenue and expenses during the period. Actual results could differ from those estimates. Results of operations for interim periods are not necessarily indicative of results for the full year. These Condensed Consolidated Financial Statements should be read in conjunction with the Consolidated Financial Statements and related Notes included in Nexstar’s Annual Report on Form 10-K for the year ended December 31, 2016. The balance sheet as of December 31, 2016 has been derived from the audited financial statements as of that date, but does not include all of the information and footnotes required by U.S. GAAP for complete financial statements. Variable Interest Entities The Company may determine that an entity is a VIE as a result of local service agreements entered into with an entity. The term local service agreement generally refers to a contract between two separately owned television stations serving the same market, whereby the owner-operator of one station contracts with the owner-operator of the other station to provide it with administrative, sales and other services required for the operation of its station. Nevertheless, the owner-operator of each station retains control and responsibility for the operation of its station, including ultimate responsibility over all programming broadcast on its station. A local service agreement can be (1) a time brokerage agreement (“TBA”) or a local marketing agreement (“LMA”) which allows Nexstar to program most of a station’s broadcast time, sell the station’s advertising time and retain the advertising revenue generated in exchange for monthly payments, based on the station’s monthly operating expenses, (2) a shared services agreement (“SSA”) which allows the Nexstar station in the market to provide services including news production, technical maintenance and security, in exchange for Nexstar’s right to receive certain payments as described in the SSA, or (3) a joint sales agreement (“JSA”) which permits Nexstar to sell certain of the station’s advertising time and retain a percentage of the related revenue, as described in the JSA. Consolidated VIEs Mission Broadcasting, Inc. (“Mission”), Marshall Broadcasting Group, Inc. (“Marshall”) and White Knight Broadcasting (“White Knight”) are consolidated by Nexstar because Nexstar is deemed under accounting principles generally accepted in the United States of America (“U.S. GAAP”) to have controlling financial interests in these entities for financial reporting purposes as a result of (1) local service agreements Nexstar has with the stations owned by these entities, (2) Nexstar’s guarantees of the obligations incurred under Mission’s and Marshall’s senior secured credit facilities (see Note 7), (3) Nexstar having power over significant activities affecting these entities’ economic performance, including budgeting for advertising revenue, certain advertising sales and, for Mission and White Knight, hiring and firing of sales force personnel and (4) purchase options granted by Mission and White Knight which permit Nexstar to acquire the assets and assume the liabilities of each Mission and White Knight station, subject to Federal Communications Commission (“FCC”) consent. In connection with Nexstar’s Merger with Media General consummated on January 17, 2017, Nexstar began to provide sales, programming and other services to stations owned by VIEs with whom Media General had agreements. These VIEs are Shield Media, LLC (“Shield”), Vaughan Media, LLC (“Vaughan”), Tamer Media, LLC (“Tamer”) and Super Towers, Inc. (“Super Towers”). Nexstar became the primary beneficiaries of these VIEs as of the closing date of the Merger because of (1) the local service agreements Nexstar assumed with these VIEs’ stations, (2) Nexstar’s guarantee of the outstanding obligations under Shield’s senior secured credit facility (Note 7), (3) Nexstar having power over significant activities affecting these entities’ economic performance, including budgeting for advertising revenue, advertising sales and hiring and firing of sales force personnel and (4) purchase options granted by Shield, Vaughan, Tamer and Super Towers that permit Nexstar to acquire the assets and assume the liabilities of each of these VIEs’ stations at any time, subject to FCC consent. Therefore, the financial results and financial position of these entities have been consolidated by Nexstar in accordance with the VIE accounting guidance as of January 17, 2017. Nexstar had variable interests in the stations previously owned by WVMH as a result of TBAs effective December 1, 2015 and the agreement to acquire the assets of these stations dated November 16, 2015. On August 2, 2016, Nexstar received approval from the FCC to acquire these stations. Nexstar re-evaluated the business arrangements with these stations as of this date and determined that it was the primary beneficiary of the variable interests because it had the ultimate power to direct the activities that most significantly impact the economic performance of the stations including developing the annual operating budget, programming and oversight and control of sales management personnel. Therefore, Nexstar consolidated the WVMH stations as of August 2, 2016. The final closing of this acquisition completed on January 31, 2017. Thus, Nexstar no longer has variable interests in these stations. See Note 3 for additional information. Nexstar had a variable interest in Parker Broadcasting of Colorado, LLC (“Parker”), the owner of station KFQX, pursuant to a TBA which Nexstar assumed effective June 13, 2014. Nexstar evaluated the business arrangement with Parker as of this date and determined that it was the primary beneficiary of the variable interest because it had the ultimate power to direct the activities that most significantly impact the economic performance of the station including developing the annual operating budget, programming and oversight and control of sales management personnel. Therefore, Nexstar consolidated Parker as of June 13, 2014. On March 31, 2017, Mission acquired the outstanding equity of Parker and effectively acquired Parker’s TBA with Nexstar. Thus, Nexstar no longer has a variable interest in Parker and deconsolidated its accounts. However, since Nexstar is the primary beneficiary of variable interests in Mission, it retained a controlling financial interest in KFQX and, therefore, continued to consolidate this station. See Note 3 for additional information. The following table summarizes the various local service agreements Nexstar had in effect as of June 30, 2017 with Mission, Marshall, White Knight, Shield, Vaughan, Tamer and Super Towers: Service Agreements Owner Full Power Stations TBA Only Mission WFXP, KHMT and KFQX LMA Only Super Towers WNAC Vaughan KNVA SSA & JSA Mission KJTL, KLRT, KASN, KOLR, KCIT, KAMC, KRBC, KSAN, WUTR, WAWV, WYOU, KODE, WTVO, KTVE, WTVW and WVNY Marshall KLJB, KPEJ and KMSS White Knight WVLA, KFXK, KSHV Shield WXXA and WLAJ Vaughan WBDT, WYTV and KTKA Tamer KWBQ, KASY and KRWB Nexstar’s ability to receive cash from Mission, Marshall, White Knight, Shield, Vaughan, Tamer and Super Towers is governed by the local service agreements. Under these agreements, Nexstar has received substantially all of the consolidated VIEs’ available cash, after satisfaction of operating costs and debt obligations. Nexstar anticipates it will continue to receive substantially all of the consolidated VIEs’ available cash, after satisfaction of operating costs and debt obligations. In compliance with FCC regulations for all the parties, Mission, Marshall, White Knight, Shield, Vaughan, Tamer and Super Towers maintain complete responsibility for and control over programming, finances, personnel and operations of their stations. The carrying amounts and classification of the assets and liabilities of the VIEs which have been included in the Condensed Consolidated Balance Sheets were as follows (in thousands): June 30, December 31, 2017 2016 Current assets: Cash and cash equivalents $ 14,417 $ 7,302 Accounts receivable, net 27,295 20,553 Prepaid expenses and other current assets 31,003 3,353 Total current assets 72,715 31,208 Property and equipment, net 27,077 29,984 Goodwill 177,666 98,107 FCC licenses 177,311 114,791 Other intangible assets, net 101,069 87,668 Other noncurrent assets, net 7,455 13,233 Total assets $ 563,293 $ 374,991 Current liabilities: Current portion of debt $ 57,860 $ 8,334 Interest payable 397 1,031 Other current liabilities 23,173 12,606 Total current liabilities 81,430 21,971 Debt 246,784 268,499 Other noncurrent liabilities 38,840 26,590 Total liabilities $ 367,054 $ 317,060 Non-Consolidated VIEs Nexstar has an outsourcing agreement with Cunningham Broadcasting Corporation (“Cunningham”), which continues through December 31, 2017. Under the outsourcing agreement, Nexstar provides certain engineering, production, sales and administrative services for WYZZ, the FOX affiliate in the Peoria, Illinois market, through WMBD, the Nexstar television station in that market. During the term of the outsourcing agreement, Nexstar retains the broadcasting revenue and related expenses of WYZZ and is obligated to pay a monthly fee based on the combined operating cash flow of WMBD and WYZZ, as defined in the agreement. Nexstar has determined that it has a variable interest in WYZZ. Nexstar has evaluated its arrangements with Cunningham and has determined that it is not the primary beneficiary of the variable interest in this station because it does not have the ultimate power to direct the activities that most significantly impact the station’s economic performance, including developing the annual operating budget, programming and oversight and control of sales management personnel. Therefore, Nexstar has not consolidated WYZZ under authoritative guidance related to the consolidation of VIEs. Under the local service agreement for WYZZ, Nexstar pays for certain operating expenses, and therefore may have unlimited exposure to any potential operating losses. Nexstar’s management believes that Nexstar’s minimum exposure to loss under the WYZZ agreement consists of the fees paid to Cunningham. Additionally, Nexstar indemnifies the owners of Cunningham from and against all liability and claims arising out of or resulting from its activities, acts or omissions in connection with the agreement. The maximum potential amount of future payments Nexstar could be required to make for such indemnification is undeterminable at this time. There were no significant transactions that arise from Nexstar’s outsourcing agreement with Cunningham. Financial Instruments The carrying amounts of cash and cash equivalents, accounts receivable, broadcast rights, accounts payable, broadcast rights payable and accrued expenses approximate fair value due to their short-term nature. See Note 3 for fair value disclosures of contingent consideration liability in connection with Nexstar’s merger with Media General. See Note 7 for fair value disclosures related to the Company’s debt. Pension plans and postretirement benefits A determination of the liabilities and cost of the Company’s pension and other postretirement plans requires the use of assumptions. The actuarial assumptions used in the Company’s pension and postretirement reporting are reviewed annually with independent actuaries and are compared with external benchmarks, historical trends and the Company’s own experience to determine that its assumptions are reasonable. The assumptions used in developing the required estimates include the following key factors: discount rates, expected return on plan assets, mortality rates, health care cost trends, retirement rates and expected contributions. The amount by which the projected benefit obligation exceeds the fair value of the pension plan assets is recorded in other noncurrent liabilities in the accompanying Condensed Consolidated Balance Sheet. Income Per Share Basic income per share is computed by dividing the net income attributable to Nexstar by the weighted-average number of common shares outstanding during the period. Diluted income per share is computed using the weighted-average number of common shares and potentially dilutive common shares outstanding during the period. Potentially dilutive common shares are calculated using the treasury stock method. They consist of stock options and restricted stock units outstanding during the period and reflect the potential dilution that could occur if common stock were issued upon exercise of stock options and vesting of restricted stock units. The following table shows the amounts used in computing the Company’s diluted shares (in thousands): Three Months Ended Six Months Ended June 30, June 30, 2017 2016 2017 2016 Weighted average shares outstanding - basic 46,931 30,680 45,573 30,669 Dilutive effect of equity incentive plan instruments 1,264 940 1,242 910 Weighted average shares outstanding - diluted 48,195 31,620 46,815 31,579 Stock options and restricted stock units to acquire a weighted average of 27,000 shares and 260,000 shares for the three months ended June 30, 2017 and 2016, respectively, and 289,000 shares and 590,000 shares during the six months ended June 30, 2017 and 2016, respectively, of Class A common stock were excluded from the computation of diluted earnings per share, because their impact would have been anti-dilutive. Basis of Presentation Certain prior year financial statement amounts have been reclassified to conform to the current year presentation. These reclassifications had no effect on net income or stockholders’ equity as previously reported. Recent Accounting Pronouncements In May 2014, the FASB issued ASU No. 2014-09, Revenue from Contracts with Customers (Topic 606) (ASU 2014-09), which updates the accounting guidance on revenue recognition. This standard is intended to provide a more robust framework for addressing revenue issues, improve comparability of revenue recognition practices, and improve disclosure requirements. In March 2016, the FASB issued ASU No. 2016-08, Revenue from Contracts with Customers (Topic 606): Principal versus Agent Considerations (ASU 2016-08). The purpose of ASU 2016-08 is to clarify the implementation of guidance on principal versus agent considerations. In April 2016, the FASB issued ASU No. 2016-10, Revenue from Contracts with Customers (Topic 606): Identifying Performance Obligations and Licensing (ASU 2016-10), which clarifies the implementation guidance in identifying performance obligations in a contract and determining whether an entity’s promise to grant a license provides a customer with either a right to use the entity’s intellectual property (which is satisfied at a point in time) or a right to access the entity’s intellectual property (which is satisfied over time). In May 2016, the FASB issued ASU No. 2016-12, Revenue from Contracts with Customers: Narrow-Scope Improvements and Practical Expedients (ASU 2016-12). The standard amends guidance in the new revenue standard on collectibility, noncash consideration, presentation of sales tax, and transition and is intended to address implementation issues that were raised by stakeholders and provide additional practical expedients. In December 2016, the FASB issued ASU 2016-20, Technical Corrections and Improvements to Topic 606, Revenue from Contracts with Customers (ASU 2016-20), which makes minor corrections or minor improvements that are not expected to have a significant effect on current accounting practice or create a significant administrative cost to most entities. The amendments are intended to address implementation issues that were raised by stakeholders and provide additional practical expedients to reduce the cost and complexity of applying the new revenue standard. These updates are effective for interim and annual reporting periods beginning after December 15, 2017. The Company does not plan to early adopt, and accordingly, it will adopt these updates effective January 1, 2018. The Company is currently evaluating its adoption approach and its final determination will depend on a number of factors, including the significance of the impact of these updates on the Company’s financial results, the Company’s ability to accumulate and analyze the information necessary to assess the impact on prior period financial statements and its ability to maintain two sets of financial information under current and new standards if it were to adopt the full retrospective approach. The Company has also started allocating resources to analyze each of its revenue streams. The Company continues to assess the potential impacts of the new standard on its financial statements. In February 2016, the FASB issued ASU No. 2016-02, Leases (Topic 842) (ASU 2016-02). The new guidance requires the recording of assets and liabilities arising from leases on the balance sheet accompanied by enhanced qualitative and quantitative disclosures in the notes to the financial statements. The new guidance is expected to provide transparency of information and comparability among organizations. ASU 2016-02 is effective for interim and annual reporting periods beginning after December 15, 2018, with early adoption permitted. The Company is currently evaluating the impact of the provisions of the accounting standard update. In March 2016, the FASB issued ASU No. 2016-09, Compensation - Stock Compensation (Topic 718): Improvements to Employee Share-Based Payment Accounting (ASU 2016-09). The standard is intended to simplify several areas of accounting for share-based compensation arrangements, including the income tax impact, classification on the statement of cash flows and forfeitures. ASU 2016-09 is effective for fiscal years, and interim periods within those years, beginning after December 15, 2016. The Company has applied the change in accounting as of January 1, 2017 and excess tax benefits and tax deficiencies related to stock-based compensation are now recognized within income tax expense. Additionally, excess tax benefits are now classified along with other income tax cash flows as an operating activity in the condensed consolidated statements of cash flows. As such, the amounts previously reported as cash flows from operating activities were increased by $13.2 million and the amount previously reported as cash flows from financing activities were decreased by $13.2 million in the Condensed Consolidated Statement of Cash Flows during the six months ended June 30, 2016. The change in accounting principle did not impact the Company’s stockholders’ equity. In October 2016, the FASB issued ASU No. 2016-16, Income Taxes (Topic 740): Intra-Entity Transfers of Assets Other Than Inventory (ASU 2016-16). The amendments of ASU 2016-16 were issued to improve the accounting for the income tax consequences of intra-entity transfers of assets other than inventory. The current guidance prohibits the recognition of current and deferred income taxes for an intra-entity asset transfer until the asset has been sold to an outside party which has resulted in diversity in practice and increased complexity within financial reporting. The amendments of ASU 2016-16 would require an entity to recognize the income tax consequences of an intra-entity transfer of an asset other than inventory when the transfer occurs and do not require new disclosure requirements. The amendments of ASU 2016-16 are effective for annual reporting periods beginning after December 15, 2017. The Company has applied the change in accounting as of January 1, 2017 using the modified retrospective approach. This adoption impacted Nexstar’s previous treatment of tax gain on the sale of WTVW to Mission in 2011. As such, the amounts previously reported as other noncurrent assets, deferred tax liabilities and accumulated deficit in the condensed consolidated balance sheet were decreased by $1.3 million, $2.1 million and $0.8 million, respectively. In November 2016, the FASB issued ASU No. 2016-18, Statement of Cash Flows (Topic 230): Restricted Cash, a consensus of the FASB Emerging Issues Task Force (ASU 2016-18), which provides guidance on the presentation of restricted cash or restricted cash equivalents in the statement of cash flows. ASU 2016-18 is effective for public business entities in fiscal years beginning after December 15, 2017, including interim periods within those fiscal years. Early adoption is permitted, including adoption in an interim period. The Company is currently evaluating the impact of these updates on its financial statements. In January 2017, the FASB issued ASU No. 2017-01, Business Combinations (Topic 805): Clarifying the Definition of a Business (ASU 2017-01). ASU 2017-01 provides clarification on the definition of a business and adds guidance to assist entities with evaluating whether transactions should be accounted for as acquisitions (or disposals) of assets or businesses. To be considered a business under the new guidance, it must include an input and a substantive process that together significantly contribute to the ability to create output. The amendment removes the evaluation of whether a market participant could replace missing elements. The amendments in this update are effective for fiscal years beginning after December 15, 2017, including interim periods within those fiscal years, and will be applied prospectively. The potential impact of this new guidance will be assessed for future acquisitions or dispositions, but it is not expected to have a material impact on the Company's consolidated financial statements. In January 2017, the FASB issued ASU No. 2017-04, Simplifying the Test for Goodwill Impairment (ASU 2017-04). The standard removes Step 2 of the goodwill impairment test, which requires a company to perform procedures to determine the fair value of a reporting unit's assets and liabilities following the procedure that would be required in determining the fair value of assets acquired and liabilities assumed in a business combination. Instead, a goodwill impairment charge will now be measured as the amount by which a reporting unit's carrying value exceeds its fair value, not to exceed the carrying amount of goodwill. ASU No. 2017-04 will be effective for fiscal years beginning on January 1, 2020, including interim periods within those fiscal years, and early adoption as of January 1, 2017 is permitted. The new guidance is required to be applied on a prospective basis and as such, the Company will use the simplified test in its annual fourth fiscal quarter testing or more often if circumstances indicate a potential impairment may exist, or if events have affected the composition of reporting units. The new guidance is not expected to have a material impact on the Company’s consolidated financial statements. In March 2017, the FASB issued ASU No. 2017-07, Compensation—Retirement Benefits (Topic 715): Improving the Presentation of Net Periodic Pension Cost and Net Periodic Postretirement Benefit Cost (ASU 2017-07). ASU 2017-07 requires entities to (1) disaggregate the current-service-cost component from the other components of net benefit cost (the “other components”) and present it with other current compensation costs for related employees in the income statement and (2) present the other components elsewhere in the income statement and outside of income from operations if that subtotal is presented. In addition, ASU 2017-07 requires entities to disclose the income statement lines that contain the other components if they are not presented on appropriately described separate lines. The amendment should be applied retrospectively for the presentation of the service cost component and prospectively for the capitalization of the service cost component. ASU 2017-07 is effective for fiscal years beginning after December 15, 2017, including interim periods within those fiscal years. Early adoption is permitted at the beginning of any annual period for which an entity’s financial statements have not been issued or made available for issuance. The Company is currently evaluating the impact of the provisions of this accounting standard update. In May 2017, the FASB issued ASU No. 2017-09, Compensation—Stock Compensation (Topic 718) – Scope of Modification Accounting (ASU 2017-09). ASU 2017-09 clarifies when changes to the terms or conditions of a share-based payment award must be accounted for as modifications. The new guidance will reduce diversity in practice and result in fewer changes to the terms of an award being accounted for as modifications. Under ASU 2017-09, an entity will not apply modification accounting to a share-based payment award if the award’s fair value, vesting conditions and classification as an equity or liability instrument are the same immediately before and after the change. ASU 2017-09 will be applied prospectively to awards modified on or after the adoption date. The effective date will be the first quarter of fiscal year 2018. Early adoption is permitted. The adoption of this standard is not expected to have a material impact on the Company’s consolidated financial statements.

Acquisitions and Dispositions

Acquisitions and Dispositions	6 Months Ended
	Jun. 30, 2017
Business Combinations [Abstract]
Acquisitions and Dispositions	3. Acquisitions and Dispositions Merger with Media General On January 17, 2017 (the “Closing Date”), Nexstar completed its previously announced Merger with Media General. Prior to the completion of the Merger, Media General owned, operated, or serviced 78 full power television stations in 48 markets. In connection with the Merger, Nexstar sold the assets of seven of Media General’s full power television stations in seven markets. The full power television stations acquired and consolidated by Nexstar as a result of the Merger, net of divestitures, are as follows: Market Rank Market Station Affiliation Nexstar: 6 San Francisco, CA KRON MyNetworkTV 11 Tampa, FL WFLA/WTTA NBC/MyNetworkTV 24 Raleigh, NC WNCN CBS 25 Portland, OR KOIN CBS 27 Indianapolis, IN WISH/WNDY The CW/MyNetworkTV 29 Nashville, TN WKRN ABC 30 New Haven, CT WTNH/WCTX ABC/MyNetworkTV 32 Columbus, OH WCMH NBC 37 Spartanburg, SC WSPA/WYCW CBS/The CW 39 Austin, TX KXAN/KBVO NBC/MyNetworkTV 42 Portsmouth, VA WAVY/WVBT NBC/FOX 43 Harrisburg, PA WHTM ABC 44 Grand Rapids, MI WOOD/WOTV NBC/ABC 45 Birmingham, AL WIAT CBS 48 Albuquerque, NM KRQE/KREZ/KBIM CBS 52 Providence, RI WPRI CBS 53 Buffalo, NY WIVB/WNLO CBS/The CW 55 Richmond, VA WRIC ABC 59 Albany, NY WTEN/WCDC ABC/ABC 60 Mobile, AL WKRG/WFNA CBS/The CW 62 Knoxville, TN WATE ABC 64 Dayton, OH WDTN NBC 65 Honolulu, HI KHON/KHAW/KAII FOX/FOX/FOX 66 Wichita, KS KSNW/KSNC/KSNG/KSNK NBC 88 Colorado Springs, CO KXRM FOX 91 Savannah, GA WSAV NBC 94 Charleston, SC WCBD NBC 95 Jackson, MS WJTV CBS 98 Tri-Cities, TN-VA WJHL CBS 100 Greenville, NC WNCT CBS 102 Florence, SC WBTW CBS 109 Sioux Falls, SD KELO/KDLO/KPLO CBS 110 Ft. Wayne, IN WANE CBS 111 Augusta, GA WJBF ABC 113 Lansing, MI WLNS CBS 114 Springfield, MA WWLP NBC 115 Youngstown, OH WKBN CBS 120 Lafayette, LA KLFY CBS 127 Columbus, GA WRBL CBS 135 Topeka, KS KSNT NBC 168 Hattiesburg, MS WHLT CBS 172 Rapid City, SD KCLO CBS VIEs: 39 Austin, TX KNVA The CW 48 Alburquerque, NM KASY/KRWB/KWBQ MyNetworkTV/The CW/The CW 52 Providence, RI WNAC FOX 59 Albany, NY WXXA FOX 64 Dayton, OH WDTN NBC 113 Lansing, MI WLAJ ABC 115 Youngstown, OH WYTV ABC 135 Topeka, KS KTKA ABC As discussed in Note 2, Nexstar is the primary beneficiary of its variable interests in Shield, Tamer, Vaughan and Super Towers and has consolidated these entities, including the stations they own. Upon the completion of the Merger, each issued and outstanding share of common stock, no par value, of Media General (“Media General Common Stock”) immediately prior to the effective time of the Merger, other than shares or other securities representing capital stock in Media General owned, directly or indirectly, by Nexstar or any subsidiary of Media General, was converted into the right to receive (i) $10.55 in cash, without interest (the “Cash Consideration”), (ii) 0.1249 of a share of Nexstar’s Class A Common Stock (the “Nexstar Common Stock”), par value $0.01 per share (the “Stock Consideration”), and (iii) one non-tradeable CVR representing the right to receive a pro rata share of the net proceeds from the disposition of Media General’s spectrum in the FCC’s recently concluded spectrum auction (the “FCC auction”), subject to and in accordance with the contingent value rights agreement governing the CVRs (the CVR, together with the Stock Consideration and the Cash Consideration, the “Merger Consideration”). The CVRs are not transferable, except in limited circumstances specified in the agreement governing the CVRs. Upon the completion of the Merger, each unvested Media General stock option outstanding immediately prior to the Effective Time became fully vested and was converted into an option to purchase Nexstar Common Stock at the same aggregate price as provided in the underlying Media General stock option, with the number of shares of Nexstar Common Stock adjusted to account for the Cash Consideration and the exchange ratio for the Stock Consideration. Additionally, the holders of Media General stock options received one CVR for each share subject to the Media General stock option immediately prior to the Effective Time. All other equity-based awards of Media General outstanding immediately prior to the Merger vested in full and were converted into the right to receive the Merger Consideration. The following table summarizes the components of the total consideration paid, payable or issued on the Closing Date in connection with the Merger (in thousands): Cash Consideration $ 1,376,108 Nexstar Common Stock issued (15,670,094 shares) 995,835 Reissued Nexstar Common Stock from treasury (560,316 shares) 35,608 Stock option replacement awards (228,438 options) 10,702 Repayment of Media General debt, including premium and accrued interest 1,658,135 Contingent consideration liability (CVR) 275,352 $ 4,351,740 On July 21, 2017, the Company received the $479 million of gross proceeds from the disposition of Media General’s spectrum in the recently concluded FCC auction. Nexstar did not dispose the spectrum of its legacy stations. The estimated net proceeds from the disposition of Media General’s spectrum in the FCC auction is $459.0 million which is calculated as gross proceeds, less estimated transaction expenses and repacking expenses as defined in the CVR agreement. The estimated fair value of the CVR is $275.4 million and is calculated as the estimated net proceeds, less taxes as defined in the CVR agreement. The first payments of the CVR to the holders, which represents majority of the estimated fair value, will be made at the end of August 2017. The fair value measurements related to the disposition of Media General’s spectrum are considered Level 3 as significant inputs are unobservable to the market. Concurrent with the closing of the Merger, Nexstar sold the assets of 12 full power television stations in 12 markets, Subject to final determination, which is expected to occur within twelve months of the acquisition date, the provisional fair values of the assets acquired and liabilities assumed (net of the effects of the Media General Divestitures but including the consolidation of the assets and liabilities of Shield, Tamer, Vaughan and Super Towers) are as follows (in thousands): Cash and cash equivalents $ 63,850 Accounts receivable 302,670 Spectrum auction asset 459,004 Prepaid expenses and other current assets 21,953 Property and equipment 483,785 FCC licenses 1,306,550 Network affiliation agreements 1,243,300 Other intangible assets 130,347 Goodwill 1,692,602 Other noncurrent assets 50,949 Total assets acquired and consolidated 5,755,010 Less: Accounts payable and accrued expenses (189,466 ) Less: Taxes payable (17,344 ) Less: Interest payable (12,794 ) Less: Debt (434,270 ) Less: Deferred tax liabilities (946,402 ) Less: Other noncurrent liabilities (227,702 ) Less: Noncontrolling interests in consolidated VIEs (7,600 ) Net assets acquired and consolidated $ 3,919,432 The fair value assigned to goodwill is attributable to future expense reductions utilizing management’s leverage in operating costs. The intangible assets related to the network affiliation agreements are amortized over 15 years. Other intangible assets are amortized over an estimated weighted average useful life of 18 years. The carryover of the tax basis in goodwill, FCC licenses, network affiliation agreements, other intangible assets and property and equipment of $159.0 million, $294.3 million, $31.7 million, $40.4 million and $247.8 million, respectively, are deductible for tax purposes. Nexstar assumed the $400.0 million 5.875% Senior Notes due 2022 (the “5.875% Notes”) previously issued by LIN Television Corporation, a Delaware corporation (“LIN TV”). Nexstar also consolidated Shield’s senior secured credit facility with an outstanding Term Loan A principal balance of $24.8 million. These debts were assumed at fair values on the Merger Closing Date. See Note 7 for additional information. Nexstar also assumed Media General’s pension and postretirement obligations (included in other noncurrent liabilities). See Note 6 for additional information. The consolidation of Shield, Tamer, Vaughan and Super Towers resulted in noncontrolling interests of $7.6 million, representing the residual fair value attributable to the owners of these entities as of January 17, 2017, estimated by applying the income approach valuation technique. The Cash Consideration, the repayment of Media General debt, including premium and accrued interest , During 2017, Nexstar recorded measurement period adjustments, including (i) the result of our ongoing valuation procedures on acquired intangible assets which decreased the FCC licenses by $191.6 million and increased the network affiliation agreements and other intangible assets by $174.6 million and $4.2 million, respectively, (ii) a change in the estimate of net proceeds from the disposition of Media General’s spectrum which increased the spectrum auction asset by $17.4 million, (iii) changes in the estimate of collectability of accounts receivable and various fair value assumptions, which decreased the estimated fair value of accounts receivable by $22.3 million, (iv) increase in goodwill of $24.3 million and decrease in deferred tax liabilities of $4.0 million due to the measurement period adjustments discussed in (i) through (iii), and (v) reclassifications from other noncurrent assets to prepaid expenses and other current assets and reclassifications among accounts payable and accrued expenses, taxes payable and other noncurrent liabilities. None of these measurement period adjustments had a material impact on the Company’s results of operations. The acquisition’s net revenue of $652.5 million and operating income of $100.3 million from January 17, 2017 to June 30, 2017 have been included in the accompanying Condensed Consolidated Statements of Operations. Transaction costs relating to the Merger, including legal and professional fees and severance costs of $2.5 million and $1.9 million, were expensed as incurred during the three months ended June 30, 2017 and 2016, respectively, and $50.1 million and $6.3 million during the six months ended June 30, 2017 and 2016, respectively. These costs were included in selling, general and administrative expense, excluding depreciation and amortization in the accompanying Condensed Consolidated Statements of Operations. WVMH On November 16, 2015, Nexstar entered into a definitive agreement to acquire the assets of three CBS and one NBC full power television stations from WVMH for $130.0 million in cash, subject to adjustments for working capital. The stations affiliated with CBS are WOWK in the Charleston-Huntington, West Virginia market, WTRF in the Wheeling, West Virginia-Steubenville, Ohio market and WVNS in the Bluefield-Beckley-Oak Hill, West Virginia market. WBOY in the Clarksburg-Weston, West Virginia market is affiliated with NBC. The acquisition will allow Nexstar entrance into these markets. Nexstar provided programming and sales services to these stations pursuant to a TBA from December 1, 2015 through the completion of the acquisition. On January 4, 2016, Nexstar completed the first closing of the transaction and acquired the stations’ assets excluding certain transmission equipment, the FCC licenses and network affiliation agreements for $65.0 million, including a deposit paid upon signing the purchase agreement of $6.5 million, all funded through a combination of cash on hand and borrowings under Nexstar’s revolving credit facility in 2016. The fair values of the assets acquired and liabilities assumed in the first closing are as follows (in thousands): Accounts receivable $ 438 Prepaid expenses and other current assets 114 Property and equipment 18,362 Other intangible assets 3,402 Goodwill 35 Total assets acquired at first closing 22,351 Less: Accounts payable and accrued expenses (623 ) Less: Other noncurrent liabilities (307 ) Net assets acquired at first closing 21,421 Deposit on second closing 43,543 Total paid at first closing $ 64,964 Other intangible assets are amortized over an estimated weighted average useful life of three years. As discussed in Note 2, Nexstar became the primary beneficiary of its variable interests in WVMH’s stations upon receiving FCC approval on August 2, 2016 to acquire the stations’ remaining assets. Therefore, Nexstar has consolidated these remaining assets under authoritative guidance related to the consolidation of VIEs as of this date. The fair values of the assets consolidated were as follows (in thousands): Broadcast rights $ 527 Property and equipment 3,489 FCC licenses 41,230 Network affiliation agreements 35,387 Goodwill 28,588 Consolidated assets of VIEs 109,221 Less: Broadcast rights payable (527 ) Consolidated net asset of VIEs $ 108,694 The fair value assigned to goodwill is attributable to future expense reductions utilizing management’s leverage in programming and other station operating costs. The goodwill and FCC licenses are deductible for tax purposes. The intangible assets related to the network affiliation agreements are amortized over 15 years. On January 31, 2017, Nexstar completed its acquisition of the remaining assets of the WVMH stations. As such, Nexstar paid the owners the remaining purchase price of $66.9 million, funded by cash on hand, and utilized its $43.5 million balance of deposit previously paid to the owners to acquire the noncontrolling interest of $108.7 million. The stations’ net revenue of $25.0 million and operating income of $5.3 million during the six months ended June 30, 2017 have been included in the accompanying Condensed Consolidated Statements of Operations. Transaction costs relating to this acquisition, including legal and professional fees of $0.1 million, were expensed as incurred during the six months ended June 30, 2016. No significant transaction costs were incurred during the six months ended June 30, 2017. Parker On May 27, 2014, Mission assumed the rights, title and interest to an existing purchase agreement to acquire Parker, the owner of television station KFQX, the FOX affiliate in the Grand Junction, Colorado market, for $4.0 million in cash, subject to adjustments for working capital. In connection with this assumption, Mission paid a deposit of $3.2 million on June 13, 2014. The acquisition was approved by the FCC in February 2017 and met all other customary conditions in March 2017. On March 31, 2017, Mission completed this acquisition and paid the remaining purchase price of $0.8 million, funded by cash on hand. The acquisition allows Mission entrance into this market. Subject to final determination, which is expected to occur within twelve months of the acquisition date, the provisional fair values of the assets acquired and liabilities assumed are as follows (in thousands): FCC licenses $ 1,539 Network affiliation agreements 1,743 Other intangible assets 20 Goodwill 698 Total assets acquired $ 4,000 The fair value assigned to goodwill is attributable to future expense reductions utilizing management’s leverage in programming and other station operating costs. The goodwill and FCC licenses are deductible for tax purposes. The intangible assets related to the network affiliation agreements are amortized over 15 years. As discussed in Note 2, Nexstar had a variable interest in Parker and had consolidated this entity until Mission acquired Parker’s outstanding equity. Since Nexstar no longer has variable interests in Parker, its accounts were deconsolidated from Nexstar’s financial statements. However, since Nexstar is the primary beneficiary of variable interests in Mission, it retained a controlling financial interest in KFQX and continued to consolidate this station. See Note 2 for more discussion on VIEs. Unaudited Pro Forma Information The acquisition of four full power television stations from WVMH is not significant for financial reporting purposes. Therefore, pro forma information has not been provided for this acquisition. The following unaudited pro forma information (in thousands) has been presented for the periods indicated as if the Merger with Media General and the related consolidation of VIEs had occurred on January 1, 2016. The unaudited pro forma information combined the historical results of Nexstar and Media General, adjusted for business combination accounting effects including transaction costs attributable to the Merger, the net gain on disposal of television stations in connection with the Merger, the depreciation and amortization charges from acquired intangible assets, the interest on new debt and the related tax effects. The pro forma financial information as presented below is for informational purposes only and is not indicative of the results of operations that would have been achieved if the acquisitions had taken place at the beginning of fiscal year 2016. Three Months Ended Six Months Ended June 30, June 30, 2017 2016 2017 2016 Net revenue $ 626,039 $ 591,663 $ 1,218,806 $ 1,157,207 Income before income taxes 85,162 72,242 120,622 11,651 Net income 51,098 42,260 78,013 29,748 Net income attributable to Nexstar 46,635 41,260 74,655 27,724 Net income per common share attributable to Nexstar - basic $ 0.99 $ 0.88 $ 1.59 $ 0.59 Net income per common share attributable to Nexstar - diluted $ 0.97 $ 0.86 $ 1.55 $ 0.58

Intangible Assets and Goodwill

Intangible Assets and Goodwill	6 Months Ended
	Jun. 30, 2017
Goodwill And Intangible Assets Disclosure [Abstract]
Intangible Assets and Goodwill	4. Intangible Assets and Goodwill Intangible assets subject to amortization consisted of the following (in thousands): Estimated June 30, 2017 December 31, 2016 useful life, Accumulated Accumulated in years Gross Amortization Net Gross Amortization Net Network affiliation agreements 15 $ 1,888,753 $ (401,252 ) $ 1,487,501 $ 659,054 $ (357,704 ) $ 301,350 Other definite-lived intangible assets 1-15 218,653 (100,129 ) 118,524 89,404 (66,017 ) 23,387 Other intangible assets $ 2,107,406 $ (501,381 ) $ 1,606,025 $ 748,458 $ (423,721 ) $ 324,737 The increases in network affiliation agreements and other definite-lived intangible assets relate to Nexstar’s acquisitions, net of dispositions, as discussed in Note 3. The following table presents the Company’s estimate of amortization expense for the remainder of 2017, each of the five succeeding years ended December 31 and thereafter for definite-lived intangible assets as of June 30, 2017 (in thousands): Remainder of 2017 $ 67,798 2018 130,593 2019 126,919 2020 116,696 2021 112,383 2022 109,295 Thereafter 942,341 $ 1,606,025 The amounts recorded to goodwill and FCC licenses were as follows (in thousands): Goodwill FCC Licenses Accumulated Accumulated Gross Impairment Net Gross Impairment Net Balances as of December 31, 2016 $ 534,557 $ (61,253 ) $ 473,304 $ 591,945 $ (49,421 ) $ 542,524 Acquisitions and consolidations of VIEs (See Notes 2 and 3) 1,693,224 - 1,693,224 1,308,089 - 1,308,089 Nexstar Divestitures (See Note 3) (22,823 ) 2,861 (19,962 ) (19,744 ) 2,011 (17,733 ) Deconsolidation of a VIE (698 ) - (698 ) (1,539 ) (1,539 ) Balances as of June 30, 2017 $ 2,204,260 $ (58,392 ) $ 2,145,868 $ 1,878,751 $ (47,410 ) $ 1,831,341 Indefinite-lived intangible assets are not subject to amortization, but are tested for impairment annually or whenever events or changes in circumstances indicate that such assets might be impaired. During the six months ended June 30, 2017, the Company did not identify any events that would trigger impairment assessment.

Accrued Expenses

Accrued Expenses	6 Months Ended
	Jun. 30, 2017
Payables And Accruals [Abstract]
Accrued Expenses	5. Accrued Expenses Accrued expenses consisted of the following (in thousands): June 30, December 31, 2017 2016 Compensation and related taxes $ 39,452 $ 20,713 Network affiliation fees 89,484 30,153 Other 71,383 20,449 $ 200,319 $ 71,315 The increases in accrued expenses relate to Nexstar’s acquisitions as discussed in Note 3.

Retirement and Postretirement P

Retirement and Postretirement Plans	6 Months Ended
	Jun. 30, 2017
Compensation And Retirement Disclosure [Abstract]
Retirement and Postretirement Plans	6. Retirement and Postretirement Plans As part of the Merger, Nexstar assumed Media General’s pension and postretirement obligations which were remeasured at fair value on the acquisition date. As a result, Nexstar now has a funded, qualified non-contributory defined benefit retirement plan which covered certain employees and former employees of Media General and its predecessors. Additionally, there are non-contributory unfunded supplemental executive retirement and ERISA excess plans which supplement the coverage available to certain Media General executives. All of these retirement plans are frozen. Media General also had a retiree medical savings account plan which reimburses eligible retired employees for certain medical expenses and an unfunded plan that provides certain health and life insurance benefits to retired employees who were hired prior to 1992. Beginning with the acquisition, Nexstar recognizes the underfunded status of these plan liabilities on its Condensed Consolidated Balance Sheet. The funded status of a plan represents the difference between the fair value of plan assets and the related plan projected benefit obligation. Changes in the funded status are recognized through comprehensive income in the year in which the changes occur. In conjunction with one of the divestitures concurrent with the Merger, the buyer assumed approximately $60 million of pension liability from the funded, qualified retirement plan. As of the Closing Date and following this transaction, the projected benefit obligation of the retirement plans was approximately $502 million and the plan assets at fair value were approximately $394 million resulting in a liability for retirement plans of $108 million (included in other noncurrent liabilities). In addition, the postretirement liabilities totaled approximately $23 million (included in other noncurrent liabilities). The following table provides the components of net periodic benefit cost (income) for the Company’s benefit plans in 2017: Three Months Ended Six Months Ended June 30, 2017 June 30, 2017 Pension Benefits Other Benefits Pension Benefits Other Benefits Service cost $ - $ - $ - $ - Interest cost 3,913 157 7,174 287 Expected return on plan assets (7,226 ) - (13,248 ) - Net periodic benefit (income) cost $ (3,313 ) $ 157 $ (6,074 ) $ 287 The Company has no required contributions to its qualified retirement plan in 2017. Payments to fund the obligations under the remaining plans are considered contributions and are expected to be less than $4 million in 2017.

Debt

Debt	6 Months Ended
	Jun. 30, 2017
Debt Disclosure [Abstract]
Debt	7. Debt Long-term debt consisted of the following (in thousands): June 30, December 31, 2017 2016 Term loans, net of financing costs and discount of $59,997 and $6,592, respectively $ 2,865,003 $ 662,206 Revolving loans 3,000 2,000 6.875% Senior unsecured notes due 2020, net of financing costs and discount of $4,295 - 520,705 6.125% Senior unsecured notes due 2022, net of financing costs of $2,200 and $2,402, respectively 272,800 272,598 5.875% Senior unsecured notes due 2022, plus premium of $9,081 409,081 - 5.625% Senior unsecured notes due 2024, net of financing costs of $14,354 and $15,090, respectively 885,646 884,910 4,435,530 2,342,419 Less: current portion (57,860 ) (28,093 ) $ 4,377,670 $ 2,314,326 2017 Transactions In connection with the Merger, Nexstar assumed the $400.0 million 5.875% Notes due 2022 previously issued by LIN TV. Additionally, Nexstar consolidated Shield’s new senior secured credit facility with a new Term Loan A principal balance of $24.8 million due on January 17, 2022 and payable in quarterly installments that increase over time from 1.25% to 2.5% of the principal. On January 17, 2017, the Company issued the following new term loans and new revolving loans under new senior secured credit facilities: • $2.75 billion in new senior secured Term Loan B, issued at 99.49%, due on January 17, 2024 and payable in consecutive quarterly installments of 0.25% of the principal, adjusted for any prepayments, with the remainder due at maturity; • $51.3 million in new senior secured Term Loan A, issued at 99.25%, due June 28, 2018 and $293.9 million in new senior secured Term Loan A, issued at 99.34%, due January 17, 2022 both payable in quarterly installments that increase over time from 1.25% to 2.5% of the principal; and • $175.0 million in total commitments under new senior secured revolving credit facilities, of which $3.0 million was drawn at closing and due June 28, 2018. The remaining $172.0 million in unused revolving credit facilities have a maturity date of January 17, 2022. In January 2017, the Company recorded $48.3 million (Term Loan B) and $3.2 million (Term Loan A) in legal, professional and underwriting fees related to the new debt described above. Debt financing costs are netted against the carrying amount of the related debt. The proceeds from the new term loans and revolving loans, together with Nexstar’s proceeds from its previously issued $900.0 million 5.625% senior unsecured notes due 2024 (the “5.625% Notes”) at par, the net proceeds from certain station divestitures (See Note 3) and cash on hand were used to finance the following: • $1.376 billion Cash Consideration of the Merger (See Note 3); • $1.658 billion repayment of certain then-existing debt of Media General, including premium and accrued interest (See Note 3); • Refinancing of the Company’s then existing term loans and revolving loans with a principal balance of $668.8 million and $2.0 million, respectively; and • Related fees and expenses. The refinancing of the Company’s then existing term loans and revolving loans resulted in losses on extinguishment of debt of $6.5 million and $0.3 million, respectively, representing the write-off of unamortized debt financing costs and debt premium On February 27, 2017, Nexstar called the entire $525.0 million principal amount of its 6.875% Notes at a redemption price equal to 103.438% of the principal plus any accrued and unpaid interest, also funded by new borrowings described above. This transaction resulted in a loss on extinguishment of debt of $22.2 million, representing premiums paid to retire the notes and write-off of unamortized debt financing costs and debt premium. Through June 2017, Nexstar prepaid a total of $170.0 million in principal balance under its newly issued Term Loan B, funded by cash on hand. These resulted in loss on extinguishment of debt of $3.7 million, representing write-off of unamortized debt financing costs and discounts. In April 2017, Nexstar prepaid $25.0 million under its newly issued Term Loan A, funded by cash on hand. This resulted in loss on extinguishment of debt of $0.4 million, representing write-off of unamortized debt financing costs and discounts. As discussed in Note 15, the Company amended certain terms of its senior secured credit facilities, including its Term Loan A, Term Loan B and revolving credit facilities. The amendments are effective July 19, 2017. Unused Commitments and Borrowing Availability The Company had $172.0 million of total unused revolving loan commitments under its senior secured credit facilities, all of which was available for borrowing, based on the covenant calculations as of June 30, 2017. The Company’s ability to access funds under its senior secured credit facilities depends, in part, on its compliance with certain financial covenants. As of June 30, 2017, Nexstar was in compliance with its financial covenants. As discussed in Note 15, the Company amended certain terms of its senior secured credit facilities effective on July 19, 2017, including the extension of the maturity date of its revolving credit facilities. 5.625% Senior Notes On July 27, 2016, Nexstar Escrow Corporation, a wholly-owned subsidiary of Nexstar, completed the issuance and sale of $900.0 million of 5.625% Notes at par. The gross proceeds of the 5.625% Notes, plus Nexstar’s pre-funded interests were deposited in a segregated escrow account which could not be utilized until certain conditions were satisfied. On January 17, 2017, Nexstar completed its merger with Media General. Thus, the proceeds of the 5.625% Notes plus the pre-funded interests deposited therein were released to Nexstar. The 5.625% Notes also became the senior unsecured obligation of Nexstar, guaranteed by Mission and certain of Nexstar’s and Mission’s future wholly-owned subsidiaries, subject to certain customary release conditions. The 5.625% Notes will mature on August 1, 2024. Interest on the 5.625% Notes is payable semiannually in arrears on February 1 and August 1 of each year. The 5.625% Notes were issued pursuant to an Indenture, dated as of July 27, 2016 (the “5.625% Indenture”). The 5.625% Notes are senior unsecured obligations of Nexstar and are guaranteed by Mission and certain of Nexstar’s and Mission’s future 100% owned subsidiaries, subject to certain customary release provisions. The 5.625% Notes are senior obligations of Nexstar and Mission but junior to the secured debt to the extent of the value of the assets securing such debt. The 5.625% Notes rank equal to the 5.875% Notes and the 6.125% senior unsecured notes due 2022 (“6.125% Notes”). Nexstar has the option to redeem all or a portion of the 5.625% Notes at any time prior to August 1, 2019 at a price equal to 100% of the principal amount redeemed plus accrued and unpaid interest to the redemption date plus applicable premium as of the date of redemption. At any time on or after August 1, 2019, Nexstar may redeem the 5.625% Notes, in whole or in part, at the redemption prices set forth in the 5.625% Indenture. At any time prior to August 1, 2019, Nexstar may also redeem up to 40% of the aggregate principal amount at a redemption price of 105.625%, plus accrued and unpaid interest, if any, to the date of redemption, with the net cash proceeds from equity offerings. Upon the occurrence of a change in control (as defined in the 5.625% Indenture), each holder of the 5.625% Notes may require Nexstar to repurchase all or a portion of the 5.625% Notes in cash at a price equal to 101.0% of the aggregate principal amount to be repurchased, plus accrued and unpaid interest, if any, thereon to the date of repurchase. The 5.625% Indenture contains covenants that limit, among other things, Nexstar’s ability to (1) incur additional debt, (2) pay dividends or make other distributions or repurchases or redeem its capital stock, (3) make certain investments, (4) create liens, (5) merge or consolidate with another person or transfer or sell assets, (6) enter into restrictions affecting the ability of Nexstar’s restricted subsidiaries to make distributions, loans or advances to it or other restricted subsidiaries; prepay, redeem or repurchase certain indebtedness and (7) engage in transactions with affiliates. The 5.625% Indenture provides for customary events of default (subject in certain cases to customary grace and cure periods), which include nonpayment, breach of covenants in the Indenture, payment defaults or acceleration of other indebtedness, a failure to pay certain judgments and certain events of bankruptcy and insolvency. Generally, if an event of default occurs, the Trustee or holders of at least 25% in principal amount of the then outstanding 5.625% Notes may declare the principal of and accrued but unpaid interest, including additional interest, on all the 5.625% Notes to be due and payable. In 2016, Nexstar recorded $15.7 million in legal, professional and underwriting fees related to the issuance of the 5.625% Notes, which were recorded as debt finance costs and are being amortized over the term of the 5.625% Notes. Debt financing costs are netted against the carrying amount of the related debt. 5.875% Senior Notes As part of the Company’s Merger with Media General on January 17, 2017, Nexstar assumed the $400.0 million 5.875% Senior Notes due 2022 previously issued by LIN TV. The 5.875% Notes will mature on November 15, 2022. Interest on the 5.875% Notes is payable semiannually in arrears on May 15 and November 15 of each year. The 5.875% Notes were issued pursuant to an Indenture, dated as of November 5, 2014 (the “5.875% Indenture”). The 5.875% Notes are senior unsecured obligations of Nexstar and certain of Nexstar’s future 100% owned subsidiaries, subject to certain customary release provisions. The 5.875% Notes are senior obligations of Nexstar but junior to the secured debt, to the extent of the value of the assets securing such debt. The 5.875% Notes rank equal to the 5.625% Notes and the 6.125% Notes. Nexstar has the option to redeem all or a portion of the 5.875% Notes at any time prior to November 15, 2017 at a price equal to 100% of the principal amount redeemed plus accrued and unpaid interest to the redemption date plus applicable premium as of the date of redemption. At any time on or after November 15, 2017, Nexstar may redeem the 5.875% Notes, in whole or in part, at the redemption prices set forth in the 5.875% Indenture. At any time before August 1, 2019, Nexstar may also redeem the 5.875% Notes at 105.875% of the aggregate principal amount at a redemption price, plus accrued and unpaid interest, if any, to the date of redemption, with the net cash proceeds from equity offerings, provided that (1) at least $200.0 million aggregate principal amount of 5.875% Notes issued under the 5.875% Indenture remains outstanding after each such redemption and (2) the redemption occurs within 90 days after the closing of the note offering. Upon the occurrence of a change of control (as defined in the 5.875% Indenture), each holder of the 5.875% Notes may require Nexstar to repurchase all or a portion of the 5.875% Notes in cash at a price equal to 101.0% of the aggregate principal amount to be repurchased, plus accrued and unpaid interest, if any, thereon to the date of repurchase. The 5.875% Indenture contains covenants that limit, among other things, Nexstar’s ability to (1) incur additional debt, (2) make certain restricted payments, (3) consummate specified asset sales, (4) enter into transactions with affiliates, (5) create liens, (6) pay dividends or make other distributions, (7) repurchase or redeem capital, (8) merge or consolidate with another person and (9) enter new lines of business. The 5.875% Indenture provides for customary events of default (subject in certain cases to customary grace and cure periods), which include nonpayment, breach of covenants in the 5.875% Indenture, payment defaults or acceleration of other indebtedness, a failure to pay certain judgments, certain events of bankruptcy and insolvency and any guarantee of the 5.875% Notes that ceases to be in full force and effect with certain exceptions specified in the 5.875% Indenture. Generally, if an event of default occurs, the Trustee or holders of at least 25% in principal amount of the then outstanding notes may declare the principal of and accrued but unpaid interest, including additional interest, on all the notes to be due and payable. Collateralization and Guarantees of Debt The Company’s credit facilities described above are collateralized by a security interest in substantially all the combined assets, excluding FCC licenses and the other assets of consolidated VIEs unavailable to creditors of Nexstar (See Note 2). Nexstar guarantees full payment of all obligations incurred under the Mission, Marshall and Shield senior secured credit facilities in the event of their default. Mission and Nexstar Digital, LLC, a wholly-owned subsidiary of Nexstar (formerly Enterprise Technology, LLC and herein referred to as “Nexstar Digital”), are guarantors of Nexstar’s senior secured credit facility. Mission is also a guarantor of Nexstar’s 6.125% Notes and the 5.625% Notes but does not guarantee Nexstar’s 5.875% Notes. Nexstar Digital does not guarantee any of the notes. Marshall and Shield are not guarantors of any debt within the group. In consideration of Nexstar’s guarantee of the Mission senior secured credit facility, Mission has granted Nexstar purchase options to acquire the assets and assume the liabilities of each Mission station, subject to FCC consent. These option agreements (which expire on various dates between 2017 and 2024) are freely exercisable or assignable by Nexstar without consent or approval by Mission. The Company expects these option agreements to be renewed upon expiration. Debt Covenants The Nexstar credit agreement (senior secured credit facility) contains a covenant which requires Nexstar to comply with a maximum consolidated first lien net leverage ratio of 4.50 to 1.00 beginning on June 30, 2017. The financial covenant, which is formally calculated on a quarterly basis, is based on the combined results of the Company. The Mission, Marshall, and Shield amended credit agreements do not contain financial covenant ratio requirements, but do provide for default in the event Nexstar does not comply with all covenants contained in its credit agreement. As of June 30, 2017, the Company was in compliance with its financial covenant. Fair Value of Debt The aggregate carrying amounts and estimated fair values of the Company’s debt were as follows (in thousands): June 30, 2017 December 31, 2016 Carrying Fair Carrying Fair Amount Value Amount Value Term loans (1) $ 2,865,003 $ 2,987,990 $ 662,206 $ 665,750 Revolving loans (1) 3,000 2,979 2,000 1,969 6.875% Senior unsecured notes (2) - - 520,705 543,375 6.125% Senior unsecured notes (2) 272,800 287,719 272,598 284,625 5.875% Senior unsecured notes (2) 409,081 419,000 - - 5.625% Senior unsecured notes (2) 885,646 904,500 884,512 893,250 (1) The fair value of senior secured credit facilities is computed based on borrowing rates currently available to the Company for bank loans with similar terms and average maturities. These fair value measurements are considered Level 3, as significant inputs to the fair value calculation are unobservable in the market. (2) The fair value of the Company’s fixed rate debt is estimated based on bid prices obtained from an investment banking firm that regularly makes a market for these financial instruments. These fair value measurements are considered Level 2, as quoted market prices are available for low volume trading of these securities.

Common Stock

Common Stock	6 Months Ended
	Jun. 30, 2017
Stockholders Equity Note [Abstract]
Common Stock	8. Common Stock As discussed in Note 3, Nexstar issued Common Stock in connection with its Merger with Media General consummated on January 17, 2017. On June 12, 2017, Nexstar announced that its Board of Directors has approved an increase in the Company’s share repurchase authorization to repurchase up to an additional $100 million of its Class A common stock. The Board of Directors’ prior authorization in August 2015 to repurchase the Company’s Class A common stock up to $100 million was depleted due to shares repurchased during the second quarter of 2017. Share repurchases may be made from time to time in open market transactions, block trades or in private transactions. There is no minimum number of shares that the Company is required to repurchase and the repurchase program may be suspended or discontinued at any time without prior notice. During the three months ended June 30, 2017, Nexstar repurchased a total of 1,001,640 shares of Class A common stock for $58.3 million, funded by cash on hand. There were no stock repurchases during the first quarter of 2017.

Stock-Based Compensation Plans

Stock-Based Compensation Plans	6 Months Ended
	Jun. 30, 2017
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]
Stock-Based Compensation Plans	9. Stock-Based Compensation Plans During the three months ended June 30, 2017, Nexstar granted 110,000 restricted stock units with an estimated fair value of $7.2 million. During the six months ended June 30, 2017, Nexstar granted 1,037,500 restricted stock units with an estimated fair value of $66.7 million and 228,438 vested stock options with an estimated fair value of $10.7 million.

Income Taxes

Income Taxes	6 Months Ended
	Jun. 30, 2017
Income Tax Disclosure [Abstract]
Income Taxes	10. Income Taxes Income tax expense was $32.3 million for the three months ended June 30, 2017, compared to $18.5 million for the same period in 2016. The effective tax rates were 40.0% and 42.7% for each of the respective periods. In 2017, the Company released an uncertain tax position resulting in an income tax benefit of $1.6 million, or a 2.0% decrease to the effective tax rate, and had nontaxable transactions of $1.2 million, or a 1.4% decrease to the effective tax rate. These were partially offset by permanent differences in 2017 resulting in income tax expense of $2.5 million, or a 2.5% increase to the effective income tax rate. In 2016, a nondeductible change in contingent consideration fair value resulted in a 1.4% increase in the effective tax rate. Income tax expense was $26.4 million for the six months ended June 30, 2017, compared to $33.3 million for the same period in 2016. The effective tax rates were 33.1% and 41.5% for each of the respective periods. In 2017, the Company recognized the tax impact of the divested stations previously owned by Nexstar (See Note 3) which resulted in an income tax benefit of $7.7 million, or a 9.6% decrease to the effective tax rate. The income tax benefit was primarily the result of proceeds received which will not be subject to taxation. The Company adopted ASU No. 2016-09 as of January 1, 2017 (See Recent Accounting Pronouncements below) which now requires excess tax benefits and tax deficiencies related to stock-based compensation to be recognized within income tax expense. As such, Nexstar recognized an income tax benefit related to stock option exercises and the vesting of restricted stock units of $1.1 million, or a 1.3% decrease to the effective rate. The Company also released an uncertain tax position resulting in an income tax benefit of $1.6 million, or a 2.0% decrease to the effective tax rate. Prior year transaction costs attributable to the Merger (See Note 3) were determined to be nondeductible for tax purposes resulting in an income tax expense of $1.7 million in 2017, or a 2.1% increase to the effective tax rate. The Merger and the subsequent liquidation of Media General legal entities increased the blended state tax rate in 2017 resulting in an income tax expense of $1.5 million, or a 1.9% increase to the effective tax rate.

FCC Regulatory Matters

FCC Regulatory Matters	6 Months Ended
	Jun. 30, 2017
Risks And Uncertainties [Abstract]
FCC Regulatory Matters	11. FCC Regulatory Matters Television broadcasting is subject to the jurisdiction of the FCC under the Communications Act of 1934, as amended (the “Communications Act”). The Communications Act prohibits the operation of television broadcasting stations except under a license issued by the FCC, and empowers the FCC, among other things, to issue, revoke, and modify broadcasting licenses, determine the location of television stations, regulate the equipment used by television stations, adopt regulations to carry out the provisions of the Communications Act and impose penalties for the violation of such regulations. The FCC’s ongoing rule making proceedings could have a significant future impact on the television industry and on the operation of the Company’s stations and the stations to which it provides services. In addition, the U.S. Congress may act to amend the Communications Act or adopt other legislation in a manner that could impact the Company’s stations, the stations to which it provides services and the television broadcast industry in general. The FCC has adopted rules with respect to the final conversion of existing low power and television translator stations to digital operations, which must be completed in July 2021. Media Ownership The FCC is required to review its media ownership rules every four years and to eliminate those rules it finds no longer serve the “public interest, convenience and necessity.” In August 2016, the FCC adopted a Second Report and Order (the “2016 Ownership Order”) concluding the agency’s 2010 and 2014 quadrennial reviews. The 2016 Ownership Order (1) retains the existing local television ownership rule and radio/television cross-ownership rule (with minor technical modifications to address the transition to digital television broadcasting), (2) extends the current ban on common ownership of two top-four television stations in a market to network affiliation swaps, (3) retains the existing ban on newspaper/broadcast cross-ownership in local markets while considering waivers and providing an exception for failed or failing entities, (4) retains the existing dual network rule, (5) makes JSA relationships attributable interests and (6) defines a category of sharing agreements designated as SSAs between stations and requires public disclosure of those SSAs (while not considering them attributable). The 2016 Ownership Order reinstated a rule that attributes another in-market station toward the local television ownership limits when one station owner sells more than 15% of the second station’s weekly advertising inventory under a joint sales agreement (this rule had been previously adopted in 2014, but was vacated by the U.S. Court of Appeals for the Third Circuit). Parties to JSAs entered into prior to March 31, 2014 may continue to operate under those JSAs until September 30, 2025. Nexstar has sought FCC reconsideration of the JSA attribution rule. On February 3, 2017, the FCC terminated in full its guidance (issued on March 12, 2014) requiring careful scrutiny of broadcast television applications which propose sharing arrangements and contingent interests. Accordingly, the FCC will no longer evaluate whether options, loan guarantees and similar otherwise non-attributable interests create undue financial influence in transactions which also include sharing arrangements between television stations. The FCC’s media ownership rules limit the percentage of U.S. television households which a party may reach through its attributable interests in television stations to 39% on a nationwide basis. Historically, the FCC has counted the ownership of an ultra-high frequency (“UHF”) station as reaching only 50% of a market’s percentage of total national audience. On August 24, 2016, the FCC adopted a Report and Order abolishing the UHF discount for the purposes of a licensee’s determination of compliance with the 39% national cap. This rule change became effective October 24, 2016. On April 20, 2017, the FCC adopted an order on reconsideration that reinstates the UHF discount. That order states that the FCC will launch a comprehensive rulemaking later in 2017 to evaluate the UHF discount together with the national ownership limit. The FCC’s April 2017 reinstatement of the UHF discount became effective on June 15, 2017, when the U.S. Court of Appeals for the D.C. Circuit denied a request to stay the reinstatement. A petition for review of the FCC’s order reinstating the UHF discount remains pending in that court, and Nexstar has intervened in the litigation in support of the FCC. Nexstar is in compliance with the 39% national cap limitation without the UHF discount and, therefore, with the UHF discount as well. Spectrum The FCC is in the process of repurposing a portion of the broadcast television spectrum for wireless broadband use. Pursuant to federal legislation enacted in 2012, the FCC has conducted an incentive auction for the purpose of making additional spectrum available to meet future wireless broadband needs. Under the auction statute and rules, certain television broadcasters accepted bids from the FCC to voluntarily relinquish all or part of their spectrum in exchange for consideration, and certain wireless broadband providers and other entities submitted successful bids to acquire the relinquished television spectrum. Over the next several years, television stations that are not relinquishing their spectrum will be “repacked” into the frequency band still remaining for television broadcast use. The incentive auction commenced on March 29, 2016 and officially concluded on April 13, 2017. 10 of Nexstar’s stations and one station owned by Vaughan accepted bids to relinquish their spectrum. Of these 11 total stations, eight will share a channel with another station, two will move to a VHF channel and one station will discontinue its operation. The one station that will discontinue its operation is not expected to have a significant impact on our future financial results because it is located in a remote rural area of the country and the Company has other stations which serve the same area. The 11 stations will be required to cease broadcasting on their current channels (and, if applicable, implement channel sharing arrangements) between August 26, 2017 and July 22, 2018. The majority of the Company’s television stations did not accept bids to relinquish their television channels. Of those stations, 61 full power stations owned by Nexstar and 17 full power stations owned by VIEs have been assigned to new channels in the reduced post-auction television band. These “repacked” stations will be required to construct and license the necessary technical modifications to operate on their new assigned channels, and will need to cease operating on their existing channels, by deadlines which the FCC has established and which are no later than July 13, 2020. Congress has allocated up to an industry-wide total of $1.75 billion to reimburse television broadcasters and MVPDs for costs reasonably incurred due to the repack. This fund is not available to reimburse repacking costs for stations which are surrendering their spectrum and entering into channel sharing relationships. Broadcasters and MVPDs were required to submit estimates to the FCC by July 12, 2017, of their reimbursable costs. As of July 14, 2017, these costs exceeded $2.1 billion (over $350 million more than the amount authorized by Congress). We cannot determine if the FCC will be able to fully reimburse our repacking costs as this is dependent on certain factors, including our ability to incur repacking costs that are equal to or less than the FCC’s initial allocation of funds to us and whether the FCC will have available funds to reimburse us for additional repacking costs that we previously may not have anticipated. Whether the FCC will have available funds for additional reimbursements will also depend on the repacking costs that will be incurred by other broadcasters and MVPDs that are also seeking reimbursements. The reallocation of television spectrum to broadband use may be to the detriment of the Company’s investment in digital facilities, could require substantial additional investment to continue current operations, and may require viewers to invest in additional equipment or subscription services to continue receiving broadcast television signals. The Company cannot predict the impact of the incentive auction and subsequent repacking on its business. Retransmission Consent On March 3, 2011, the FCC initiated a Notice of Proposed Rulemaking to reexamine its rules (i) governing the requirements for good faith negotiations between multichannel video program distributors (“MVPDs”) and broadcasters, including implementing a prohibition on one station negotiating retransmission consent terms for another station under a local service agreement; (ii) for providing advance notice to consumers in the event of dispute; and (iii) to extend certain cable-only obligations to all MVPDs. The FCC also asked for comment on eliminating the network non-duplication and syndicated exclusivity protection rules, which may permit MVPDs to import out-of-market television stations during a retransmission consent dispute. In March 2014, the FCC adopted a rule that prohibits joint retransmission consent negotiation between television stations in the same market which are not commonly owned and which are ranked among the top four stations in the market in terms of audience share. On December 5, 2014, federal legislation extended the joint negotiation prohibition to all non-commonly owned television stations in a market. This rule requires the independent third parties with which Nexstar has local service agreements to separately negotiate their retransmission consent agreements. The December 2014 legislation also directed the FCC to commence a rulemaking to “review its totality of the circumstances test for good faith [retransmission consent] negotiations.” The FCC commenced this proceeding in September 2015 and comments and reply comments were submitted. In July 2016, the then-Chairman of the FCC publicly announced that the agency would not adopt additional rules in this proceeding, however, the proceeding remains open. Concurrently with its adoption of the prohibition on certain joint retransmission consent negotiations, the FCC also adopted a further notice of proposed rulemaking which seeks additional comment on the elimination or modification of the network non-duplication and syndicated exclusivity rules. The FCC’s prohibition on certain joint retransmission consent negotiations and its possible elimination or modification of the network non-duplication and syndicated exclusivity protection rules may affect the Company’s ability to sustain its current level of retransmission consent revenues or grow such revenues in the future and could have an adverse effect on the Company’s business, financial condition and results of operations. The Company cannot predict the resolution of the FCC’s network non-duplication and syndicated exclusivity proposals, or the impact of these proposals or the FCC’s prohibition on certain joint negotiations, on its business. Further, certain online video distributors and other over-the-top video distributors (“OTTDs”) have begun streaming broadcast programming over the Internet. In June 2014, the U.S. Supreme Court held that an OTTD’s retransmissions of broadcast television signals without the consent of the broadcast station violate copyright holders’ exclusive right to perform their works publicly as provided under the Copyright Act. In December 2014, the FCC issued a Notice of Proposed Rulemaking proposing to interpret the term “MVPD” to encompass OTTDs that make available for purchase multiple streams of video programming distributed at a prescheduled time, and seeking comment on the effects of applying MVPD rules to such OTTDs. Comments and reply comments were filed in 2015. Although the FCC has not classified OTTDs as MVPDs to date, several OTTDs have signed agreements for retransmission of local stations within their markets and others are actively seeking to negotiate agreements for retransmission of local stations within their markets.

Commitments and Contingencies

Commitments and Contingencies	6 Months Ended
	Jun. 30, 2017
Commitments And Contingencies Disclosure [Abstract]
Commitments and Contingencies	12. Commitments and Contingencies Guarantees of Mission, Marshall and Shield Debt Nexstar and its subsidiaries guarantee full payment of all obligations incurred under the Mission, Marshall and Shield senior secured credit facilities. In the event that Mission, Marshall, or Shield are unable to repay amounts due, Nexstar will be obligated to repay such amounts. The maximum potential amount of future payments that Nexstar would be required to make under these guarantees would be generally limited to the borrowings outstanding. As of June 30, 2017, Mission had a maximum commitment of $229.8 million under its senior secured credit facility, of which $226.8 million of debt was outstanding, Marshall had used all of its commitment and had outstanding debt obligations of $53.5 million and Shield had also used all of its commitment and had outstanding obligations of $24.3 million. Marshall’s debt is due in June 2018 and is included in the current liabilities in the accompanying June 30, 2017 condensed consolidated balance sheet. The other debt guaranteed by Nexstar are long-term debt obligations of Mission and Shield. Indemnification Obligations In connection with certain agreements that the Company enters into in the normal course of its business, including local service agreements, business acquisitions and borrowing arrangements, the Company enters into contractual arrangements under which the Company agrees to indemnify the third party to such arrangement from losses, claims and damages incurred by the indemnified party for certain events as defined within the particular contract. Such indemnification obligations may not be subject to maximum loss clauses and the maximum potential amount of future payments the Company could be required to make under these indemnification arrangements may be unlimited. Historically, payments made related to these indemnifications have been insignificant and the Company has not incurred significant costs to defend lawsuits or settle claims related to these indemnification agreements. Litigation From time to time, the Company is involved with claims that arise out of the normal course of its business. In the opinion of management, any resulting liability with respect to these claims would not have a material adverse effect on the Company’s financial position or results of operations.

Segment Data

Segment Data	6 Months Ended
	Jun. 30, 2017
Segment Reporting [Abstract]
Segment Data	13. Segment Data The Company evaluates the performance of its operating segments based on net revenue and operating income. The Company’s broadcast segment includes television stations and related community focused websites that Nexstar owns, operates, programs or provides sales and other services to in various markets across the United States. The other activities of the Company include corporate functions, eliminations and other insignificant operations. Segment financial information is included in the following tables for the periods presented (in thousands): Three Months Ended June 30, 2017 Broadcasting Other Consolidated Net revenue $ 594,489 $ 31,626 $ 626,115 Depreciation 24,702 1,590 26,292 Amortization of intangible assets 33,274 5,283 38,557 Income (loss) from operations 170,337 (31,652 ) 138,685 Three Months Ended June 30, 2016 Broadcasting Other Consolidated Net revenue $ 246,404 $ 15,590 $ 261,994 Depreciation 11,172 1,567 12,739 Amortization of intangible assets 7,952 3,367 11,319 Income (loss) from operations 82,054 (18,047 ) 64,007 Six Months Ended June 30, 2017 Broadcasting Other Consolidated Net revenue $ 1,105,656 $ 60,776 $ 1,166,432 Depreciation 41,644 6,874 48,518 Amortization of intangible assets 79,207 7,508 86,715 Income (loss) from operations 360,045 (111,209 ) 248,836 Six Months Ended June 30, 2016 Broadcasting Other Consolidated Net revenue $ 487,492 $ 30,160 $ 517,652 Depreciation 22,159 3,138 25,297 Amortization of intangible assets 16,663 6,735 23,398 Income (loss) from operations 158,982 (37,046 ) 121,936 As of June 30, 2017 Broadcasting Other Consolidated Goodwill $ 2,005,396 $ 140,472 $ 2,145,868 Assets 6,615,960 853,657 7,469,617 As of December 31, 2016 Broadcasting Other Consolidated Goodwill $ 449,682 $ 23,622 $ 473,304 Assets 1,811,042 1,155,043 2,966,085

Condensed Consolidating Financi

Condensed Consolidating Financial Information	6 Months Ended
	Jun. 30, 2017
Condensed Financial Information Of Parent Company Only Disclosure [Abstract]
Condensed Consolidating Financial Information	14. Condensed Consolidating Financial Information The following condensed consolidating financial information presents the financial position, results of operations and cash flows of the Company, including its wholly-owned subsidiaries and its consolidated VIEs. This information is presented in lieu of separate financial statements and other related disclosures pursuant to Regulation S-X Rule 3-10 of the Securities Exchange Act of 1934, as amended, “Financial Statements of Guarantors and Issuers of Guaranteed Securities Registered or Being Registered.” The Nexstar column presents the parent company’s financial information, excluding consolidating entities. The Nexstar Broadcasting column presents the financial information of Nexstar Broadcasting, Inc. (“Nexstar Broadcasting”), a wholly-owned subsidiary of Nexstar and issuer of the 5.625% Notes, the 6.125% Notes and the 5.875% Notes. The Mission column presents the financial information of Mission, an entity which Nexstar Broadcasting is required to consolidate as a VIE (see Note 2). The Non-Guarantors column presents the combined financial information of Nexstar Digital LLC, a wholly-owned subsidiary of Nexstar, and other VIEs consolidated by Nexstar Broadcasting (See Note 2). Nexstar Broadcasting’s outstanding 5.625% Notes and 6.125% Notes are fully and unconditionally guaranteed, jointly and severally, by Nexstar and Mission, subject to certain customary release provisions. These notes are not guaranteed by any other entities. Nexstar Broadcasting’s outstanding 5.875% Notes are fully and unconditionally guaranteed, jointly and severally, by Nexstar, subject to certain customary release provisions. These notes are not guaranteed by any other entities. The 5.875% Notes are the only registered debt of Nexstar. However, the indentures governing the 5.625% Notes and the 6.125% Notes also require consolidating information that presents the guarantor information. As discussed in Notes 2 and 3, Nexstar Broadcasting completed its acquisition of certain television stations from WVMH in January 2017. Additionally, Mission completed its acquisition of Parker, the owner of KFQX, in March 2017. These acquisitions were deemed to be changes in the reporting entities, thus the following condensed consolidating financial information were prepared as if Nexstar Broadcasting owned and operated the WVMH stations and Mission owned and operated Parker as of the earliest period presented. CONDENSED CONSOLIDATING BALANCE SHEET As of June 30, 2017 (in thousands) Nexstar Non- Consolidated Nexstar Broadcasting Mission Guarantors Eliminations Company ASSETS Current assets: Cash and cash equivalents $ - $ 67,795 $ 5,909 $ 12,198 $ - $ 85,902 Accounts receivable - 433,461 12,789 56,869 - 503,119 Amounts due from consolidated entities - 203,804 102,431 - (306,235 ) - Spectrum auction asset - 432,777 - 26,227 - 459,004 Other current assets - 23,328 1,477 5,685 - 30,490 Total current assets - 1,161,165 122,606 100,979 (306,235 ) 1,078,515 Investments in subsidiaries 182,349 127,093 - - (309,442 ) - Amounts due from consolidated entities 1,021,003 - - - (1,021,003 ) - Property and equipment, net - 700,692 18,571 19,539 (75 ) 738,727 Goodwill - 1,827,730 33,187 284,951 - 2,145,868 FCC licenses - 1,654,030 43,102 134,209 - 1,831,341 Other intangible assets, net - 1,457,117 16,989 131,919 - 1,606,025 Other noncurrent assets - 61,427 2,945 4,769 - 69,141 Total assets $ 1,203,352 $ 6,989,254 $ 237,400 $ 676,366 $ (1,636,755 ) $ 7,469,617 LIABILITIES AND STOCKHOLDERS' EQUITY (DEFICIT) Current liabilities: Current portion of debt $ - $ - $ 2,320 $ 55,540 $ - $ 57,860 Accounts payable - 22,918 1,110 3,904 - 27,932 Amounts due to consolidated entities - - - 306,235 (306,235 ) - Other current liabilities - 673,636 13,540 21,480 - 708,656 Total current liabilities - 696,554 16,970 387,159 (306,235 ) 794,448 Debt - 4,130,886 224,459 22,325 - 4,377,670 Amounts due to consolidated entities - 765,150 - 256,063 (1,021,213 ) - Deferred tax liabilities - 862,812 - 23,832 - 886,644 Other noncurrent liabilities - 189,836 9,358 8,115 - 207,309 Total liabilities - 6,645,238 250,787 697,494 (1,327,448 ) 6,266,071 Total stockholders' equity (deficit) 1,203,352 344,016 (13,387 ) (34,362 ) (309,307 ) 1,190,312 Noncontrolling interests in consolidated variable interest entities - - - 13,234 - 13,234 Total liabilities and stockholders' equity (deficit) $ 1,203,352 $ 6,989,254 $ 237,400 $ 676,366 $ (1,636,755 ) $ 7,469,617 CONDENSED CONSOLIDATING BALANCE SHEET As of December 31, 2016 (in thousands) Nexstar Non- Consolidated Nexstar Broadcasting Mission Guarantors Eliminations Company ASSETS Current assets: Cash and cash equivalents $ - $ 75,830 $ 6,478 $ 5,372 $ - $ 87,680 Accounts receivable - 184,921 12,332 20,805 - 218,058 Amounts due from consolidated entities - 5,623 80,815 - (86,438 ) - Other current assets - 53,762 1,337 2,380 - 57,479 Total current assets - 320,136 100,962 28,557 (86,438 ) 363,217 Investments in subsidiaries 256,391 38,259 - - (294,650 ) - Amounts due from consolidated entities - 66,170 - - (66,170 ) - Property and equipment, net - 244,623 19,564 12,041 (75 ) 276,153 Goodwill - 380,164 33,187 59,953 - 473,304 FCC licenses - 468,963 43,102 30,459 - 542,524 Other intangible assets, net - 258,502 17,922 48,313 - 324,737 Restricted cash - 901,080 - - - 901,080 Other noncurrent assets - 72,070 11,144 1,856 - 85,070 Total assets $ 256,391 $ 2,749,967 $ 225,881 $ 181,179 $ (447,333 ) $ 2,966,085 LIABILITIES AND STOCKHOLDERS' EQUITY (DEFICIT) Current liabilities: Current portion of debt $ - $ 19,759 $ 2,334 $ 6,000 $ - $ 28,093 Accounts payable - 16,234 524 2,996 - 19,754 Amounts due to consolidated entities - - - 86,438 (86,438 ) - Other current liabilities - 118,049 9,017 14,665 - 141,731 Total current liabilities - 154,042 11,875 110,099 (86,438 ) 189,578 Debt - 2,045,827 221,431 47,068 - 2,314,326 Amounts due to consolidated entities 66,380 - - - (66,380 ) - Deferred tax liabilities - 118,155 - 13,853 - 132,008 Other noncurrent liabilities - 33,959 9,832 2,028 - 45,819 Total liabilities 66,380 2,351,983 243,138 173,048 (152,818 ) 2,681,731 Total Nexstar Media Group, Inc. stockholders' equity (deficit) 190,011 289,290 (21,257 ) 5,612 (294,515 ) 169,141 Noncontrolling interest in a consolidated variable interest entity - 108,694 4,000 2,519 - 115,213 Total liabilities and stockholders' equity (deficit) $ 256,391 $ 2,749,967 $ 225,881 $ 181,179 $ (447,333 ) $ 2,966,085 CONDENSED CONSOLIDATING STATEMENT OF OPERATIONS Three Months Ended June 30, 2017 (in thousands) Nexstar Non- Consolidated Nexstar Broadcasting Mission Guarantors Eliminations Company Net broadcast revenue (including trade and barter) $ - $ 544,266 $ 17,555 $ 64,294 $ - $ 626,115 Revenue between consolidated entities - 18,656 9,400 6,438 (34,494 ) - Net revenue - 562,922 26,955 70,732 (34,494 ) 626,115 Operating expenses: Direct operating expenses, excluding depreciation and amortization - 200,039 8,892 44,705 (1,026 ) 252,610 Selling, general, and administrative expenses, excluding depreciation and amortization - 139,477 877 11,351 (7,420 ) 144,285 Local service agreement fees between consolidated entities - 15,577 4,500 5,971 (26,048 ) - Amortization of broadcast rights - 22,723 1,414 1,549 - 25,686 Amortization of intangible assets - 33,146 638 4,773 - 38,557 Depreciation - 24,120 587 1,585 - 26,292 Total operating expenses - 435,082 16,908 69,934 (34,494 ) 487,430 Income from operations - 127,840 10,047 798 - 138,685 Interest expense, net - (51,760 ) (2,556 ) (1,369 ) - (55,685 ) Loss on extinguishment of debt - (1,323 ) - - - (1,323 ) Other (expenses) income - (1,331 ) - 431 - (900 ) Equity in income of subsidiaries 39,434 - - - (39,434 ) - Income before income taxes 39,434 73,426 7,491 (140 ) (39,434 ) 80,777 Income tax (expense) benefit - (28,850 ) (2,917 ) (555 ) - (32,322 ) Net income 39,434 44,576 4,574 (695 ) (39,434 ) 48,455 Net income attributable to noncontrolling interests - - - (4,463 ) - (4,463 ) Net income (loss) attributable to Nexstar $ 39,434 $ 44,576 $ 4,574 $ (5,158 ) $ (39,434 ) $ 43,992 CONDENSED CONSOLIDATING STATEMENT OF OPERATIONS Three Months Ended June 30, 2016 (in thousands) Nexstar Non- Consolidated Nexstar Broadcasting Mission Guarantors Eliminations Company Net broadcast revenue (including trade and barter) $ - $ 221,860 $ 15,085 $ 25,049 $ - $ 261,994 Revenue between consolidated entities - 8,567 9,659 2,829 (21,055 ) - Net revenue - 230,427 24,744 27,878 (21,055 ) 261,994 Operating expenses: Direct operating expenses, excluding depreciation and amortization - 69,445 7,400 16,153 (63 ) 92,935 Selling, general, and administrative expenses, excluding depreciation and amortization - 60,513 861 5,585 (1,187 ) 65,772 Local service agreement fees between consolidated entities - 11,238 4,500 4,067 (19,805 ) - Amortization of broadcast rights - 13,005 1,389 828 - 15,222 Amortization of intangible assets - 6,549 637 4,133 - 11,319 Depreciation - 11,236 600 903 - 12,739 Total operating expenses - 171,986 15,387 31,669 (21,055 ) 197,987 Income (loss) from operations - 58,441 9,357 (3,791 ) - 64,007 Interest expense, net - (17,871 ) (2,309 ) (397 ) - (20,577 ) Other expenses - (147 ) - - - (147 ) Equity in income of subsidiaries 20,258 - - - (20,258 ) - Income (loss) before income taxes 20,258 40,423 7,048 (4,188 ) (20,258 ) 43,283 Income tax (expense) benefit - (16,188 ) (2,775 ) 479 - (18,484 ) Net income (loss) 20,258 24,235 4,273 (3,709 ) (20,258 ) 24,799 Net income attributable to noncontrolling interests - - - (270 ) - (270 ) Net income (loss) attributable to Nexstar $ 20,258 $ 24,235 $ 4,273 $ (3,979 ) $ (20,258 ) $ 24,529 CONDENSED CONSOLIDATING STATEMENT OF OPERATIONS Six Months Ended June 30, 2017 (in thousands) Nexstar Non- Consolidated Nexstar Broadcasting Mission Guarantors Eliminations Company Net broadcast revenue (including trade and barter) $ - $ 1,018,412 $ 35,463 $ 112,557 $ - $ 1,166,432 Revenue between consolidated entities - 32,726 18,222 4,615 (55,563 ) - Net revenue - 1,051,138 53,685 117,172 (55,563 ) 1,166,432 Operating expenses: Direct operating expenses, excluding depreciation and amortization - 378,796 17,912 75,696 (1,065 ) 471,339 Selling, general, and administrative expenses, excluding depreciation and amortization - 303,322 1,850 23,001 (9,586 ) 318,587 Local service agreement fees between consolidated entities - 25,783 9,000 10,129 (44,912 ) - Amortization of broadcast rights - 44,184 2,812 3,157 - 50,153 Amortization of intangible assets - 74,512 1,274 10,929 - 86,715 Depreciation - 44,190 1,175 3,153 - 48,518 Gain on disposal of stations, net - (57,716 ) - - - (57,716 ) Total operating expenses - 813,071 34,023 126,065 (55,563 ) 917,596 Income (loss) from operations - 238,067 19,662 (8,893 ) - 248,836 Interest expense, net - (127,340 ) (5,206 ) (2,376 ) - (134,922 ) Loss on extinguishment of debt - (30,768 ) (2,133 ) (226 ) - (33,127 ) Other expenses - (1,007 ) - - - (1,007 ) Equity in income of subsidiaries 42,558 - - - (42,558 ) - Income (loss) before income taxes 42,558 78,952 12,323 (11,495 ) (42,558 ) 79,780 Income tax (expense) benefit - (24,989 ) (4,798 ) 3,406 - (26,381 ) Net income (loss) 42,558 53,963 7,525 (8,089 ) (42,558 ) 53,399 Net income attributable to noncontrolling interests - - - (3,358 ) - (3,358 ) Net income (loss) attributable to Nexstar $ 42,558 $ 53,963 $ 7,525 $ (11,447 ) $ (42,558 ) $ 50,041 CONDENSED CONSOLIDATING STATEMENT OF OPERATIONS Six Months Ended June 30, 2016 (in thousands) Nexstar Non- Consolidated Nexstar Broadcasting Mission Guarantors Eliminations Company Net broadcast revenue (including trade and barter) $ - $ 437,436 $ 30,245 $ 49,971 $ - $ 517,652 Revenue between consolidated entities - 17,172 18,894 5,494 (41,560 ) - Net revenue - 454,608 49,139 55,465 (41,560 ) 517,652 Operating expenses: Direct operating expenses, excluding depreciation and amortization - 137,981 14,906 30,244 (73 ) 183,058 Selling, general, and administrative expenses, excluding depreciation and amortization - 124,091 1,783 10,368 (2,305 ) 133,937 Local service agreement fees between consolidated entities - 22,010 9,000 8,172 (39,182 ) - Amortization of broadcast rights - 25,398 2,781 1,847 - 30,026 Amortization of intangible assets - 13,857 1,272 8,269 - 23,398 Depreciation - 22,420 1,207 1,670 - 25,297 Total operating expenses - 345,757 30,949 60,570 (41,560 ) 395,716 Income (loss) from operations - 108,851 18,190 (5,105 ) - 121,936 Interest expense, net - (35,811 ) (4,622 ) (798 ) - (41,231 ) Other expenses - (283 ) - - - (283 ) Equity in income of subsidiaries 37,973 - - (37,973 ) - Income (loss) before income taxes 37,973 72,757 13,568 (5,903 ) (37,973 ) 80,422 Income tax (expense) benefit - (29,239 ) (5,283 ) 1,173 - (33,349 ) Net income (loss) 37,973 43,518 8,285 (4,730 ) (37,973 ) 47,073 Net income attributable to noncontrolling interests - - - (817 ) - (817 ) Net income (loss) attributable to Nexstar $ 37,973 $ 43,518 $ 8,285 $ (5,547 ) $ (37,973 ) $ 46,256 CONDENSED CONSOLIDATING STATEMENT OF CASH FLOWS Six Months Ended June 30, 2017 (in thousands) Nexstar Non- Consolidated Nexstar Broadcasting Mission Guarantors Eliminations Company Cash flows from operating activities $ - $ 122,635 $ (756 ) $ 16,003 $ - $ 137,882 Cash flows from investing activities: Purchases of property and equipment - (23,525 ) (182 ) (3,984 ) - (27,691 ) Deposits and payments for acquisitions - (2,970,394 ) (800 ) - - (2,971,194 ) Proceeds from sale of stations - 481,944 - - - 481,944 Other investing activities - 19,638 - - - 19,638 Net cash used in investing activities - (2,492,337 ) (982 ) (3,984 ) - (2,497,303 ) Cash flows from financing activities: Proceeds from long-term debt - 3,697,106 230,840 53,915 - 3,981,861 Repayments of long-term debt - (1,111,606 ) (225,892 ) (53,300 ) - (1,390,798 ) Premium paid on debt extinguishment - (18,050 ) - - - (18,050 ) Payments for debt financing costs - (47,578 ) (3,779 ) - - (51,357 ) Purchase of noncontrolling interests - (66,901 ) - - - (66,901 ) Common stock dividends paid (28,268 ) - - - - (28,268 ) Purchse of treasury stock (58,294 ) - - - - (58,294 ) Inter-company payments 87,291 (87,291 ) - - - - Other financing activities (729 ) (4,013 ) - (5,808 ) - (10,550 ) Net cash provided by (used in) financing activities - 2,361,667 1,169 (5,193 ) - 2,357,643 Net (decrease) increase in cash and cash equivalents - (8,035 ) (569 ) 6,826 - (1,778 ) Cash and cash equivalents at beginning of period - 75,830 6,478 5,372 - 87,680 Cash and cash equivalents at end of period $ - $ 67,795 $ 5,909 $ 12,198 $ - $ 85,902 CONDENSED CONSOLIDATING STATEMENT OF CASH FLOWS Six Months Ended June 30, 2016 (in thousands) Nexstar Non- Consolidated Nexstar Broadcasting Mission Guarantors Eliminations Company Cash flows from operating activities $ - $ 109,517 $ (900 ) $ 768 $ - $ 109,385 Cash flows from investing activities: Purchases of property and equipment - (13,406 ) (110 ) (1,519 ) - (15,035 ) Deposits and payments for acquisitions - (103,969 ) - - - (103,969 ) Other investing activities - 335 - - - 335 Net cash used in investing activities - (117,040 ) (110 ) (1,519 ) - (118,669 ) Cash flows from financing activities: Proceeds from long-term debt - 58,000 - - - 58,000 Repayments of long-term debt - (44,809 ) (1,167 ) (2,100 ) - (48,076 ) Common stock dividends paid (14,716 ) - - - - (14,716 ) Inter-company payments 14,503 (14,503 ) - - - - Other financing activities 213 (2,371 ) - - - (2,158 ) Net cash provided by (used in) financing activities - (3,683 ) (1,167 ) (2,100 ) - (6,950 ) Net decrease in cash and cash equivalents - (11,206 ) (2,177 ) (2,851 ) - (16,234 ) Cash and cash equivalents at beginning of period - 27,492 4,367 11,557 - 43,416 Cash and cash equivalents at end of period $ - $ 16,286 $ 2,190 $ 8,706 $ - $ 27,182

Subsequent Events

Subsequent Events	6 Months Ended
	Jun. 30, 2017
Subsequent Events [Abstract]
Subsequent Events	15. Subsequent Events On July 19, 2017, the Company amended its senior secured credit facilities. The main provisions of the amendments include: (i) an additional $456.0 million in Term Loan A borrowings, the proceeds of which were used to partially repay the outstanding principal balance of Term Loan B, (ii) a reduction in the applicable margin portion of interest rates by 50 basis points, (iii) an extension of the maturity date of Term Loan A with outstanding principal balance of $749.7 million to five years from July 19, 2017 and (iv) an extension of the maturity date of revolving credit facilities of $172.0 million to five years from July 19, 2017. On July 21, 2017, the Company received the $479 million of gross proceeds from the disposition of Media General’s spectrum in the recently concluded FCC auction. Pursuant to the terms of the CVR agreement and the Merger agreement, these proceeds less estimated transaction expenses, repacking expenses and taxes, or an estimated fair value of $275.4 million, will be distributed to the holders of the CVR. The first payments to the CVR holders, which represents majority of the estimated fair value, will be made at the end of August 2017. See Note 3 for additional information. On July 27, 2017, Nexstar’s Board of Directors declared a quarterly cash dividend of $0.30 per share of its Class A common stock. The dividend is payable on August 25, 2017 to stockholders of record on August 11, 2017. On August 7, 2017, Nexstar prepaid $30.0 million of the outstanding principal balance under its Term Loan B, funded by cash on hand.

Summary of Significant Accoun22

Summary of Significant Accounting Policies (Policies)	6 Months Ended
	Jun. 30, 2017
Accounting Policies [Abstract]
Principles of Consolidation	Principles of Consolidation The Condensed Consolidated Financial Statements include the accounts of Nexstar and the accounts of independently-owned VIEs for which Nexstar is the primary beneficiary (See Note 2—Variable Interest Entities). Nexstar and the consolidated VIEs are collectively referred to as the “Company.” Noncontrolling interests represent the VIE owners’ share of the equity in the consolidated VIEs and are presented as a component separate from Nexstar Media Group, Inc. stockholders’ equity. All intercompany account balances and transactions have been eliminated in consolidation. Nexstar management evaluates each arrangement that may include variable interests and determines the need to consolidate an entity where it determines Nexstar is the primary beneficiary of a VIE in accordance with related authoritative literature and interpretive guidance. Effective January 17, 2017, Nexstar assumed local service agreements to provide sales, programming and other services to stations owned by VIEs with whom Media General had agreements. Nexstar became the primary beneficiaries of these VIEs and consolidated these entities as of this date. On August 2, 2016, Nexstar became the primary beneficiary of certain stations owned by West Virginia Media Holdings, LLC (“WVMH”) which were consolidated into Nexstar’s financial statements as of this date. Nexstar completed the acquisition of these stations on January 31, 2017 and they are no longer VIEs. See Note 2—Variable Interest Entities for additional information on these transactions. The following are assets of consolidated VIEs that are not available to settle the obligations of Nexstar and the liabilities of consolidated VIEs for which their creditors do not have recourse to the general credit of Nexstar (in thousands): June 30, December 31, 2017 2016 Current assets $ 52,540 $ 3,638 Property and equipment, net 8,506 6,944 Goodwill 144,479 46,465 FCC licenses 177,311 114,791 Other intangible assets, net 84,080 53,747 Other noncurrent assets, net 3,931 613 Total assets 470,847 226,198 Current liabilities 23,173 12,606 Noncurrent liabilities 38,261 26,590 Total liabilities $ 61,434 $ 39,196
Interim Financial Statements	Interim Financial Statements The Condensed Consolidated Financial Statements as of June 30, 2017 and for the three and six months ended June 30, 2017 and 2016 are unaudited. However, in the opinion of management, such financial statements include all adjustments (consisting solely of normal recurring adjustments) necessary for the fair statement of the financial information included herein in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”) and pursuant to the rules and regulations of the Securities and Exchange Commission (the “SEC”). The preparation of the Condensed Consolidated Financial Statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and the disclosure of contingent assets and liabilities at the date of the financial statements and reported amounts of revenue and expenses during the period. Actual results could differ from those estimates. Results of operations for interim periods are not necessarily indicative of results for the full year. These Condensed Consolidated Financial Statements should be read in conjunction with the Consolidated Financial Statements and related Notes included in Nexstar’s Annual Report on Form 10-K for the year ended December 31, 2016. The balance sheet as of December 31, 2016 has been derived from the audited financial statements as of that date, but does not include all of the information and footnotes required by U.S. GAAP for complete financial statements.
Variable Interest Entities	Variable Interest Entities The Company may determine that an entity is a VIE as a result of local service agreements entered into with an entity. The term local service agreement generally refers to a contract between two separately owned television stations serving the same market, whereby the owner-operator of one station contracts with the owner-operator of the other station to provide it with administrative, sales and other services required for the operation of its station. Nevertheless, the owner-operator of each station retains control and responsibility for the operation of its station, including ultimate responsibility over all programming broadcast on its station. A local service agreement can be (1) a time brokerage agreement (“TBA”) or a local marketing agreement (“LMA”) which allows Nexstar to program most of a station’s broadcast time, sell the station’s advertising time and retain the advertising revenue generated in exchange for monthly payments, based on the station’s monthly operating expenses, (2) a shared services agreement (“SSA”) which allows the Nexstar station in the market to provide services including news production, technical maintenance and security, in exchange for Nexstar’s right to receive certain payments as described in the SSA, or (3) a joint sales agreement (“JSA”) which permits Nexstar to sell certain of the station’s advertising time and retain a percentage of the related revenue, as described in the JSA. Consolidated VIEs Mission Broadcasting, Inc. (“Mission”), Marshall Broadcasting Group, Inc. (“Marshall”) and White Knight Broadcasting (“White Knight”) are consolidated by Nexstar because Nexstar is deemed under accounting principles generally accepted in the United States of America (“U.S. GAAP”) to have controlling financial interests in these entities for financial reporting purposes as a result of (1) local service agreements Nexstar has with the stations owned by these entities, (2) Nexstar’s guarantees of the obligations incurred under Mission’s and Marshall’s senior secured credit facilities (see Note 7), (3) Nexstar having power over significant activities affecting these entities’ economic performance, including budgeting for advertising revenue, certain advertising sales and, for Mission and White Knight, hiring and firing of sales force personnel and (4) purchase options granted by Mission and White Knight which permit Nexstar to acquire the assets and assume the liabilities of each Mission and White Knight station, subject to Federal Communications Commission (“FCC”) consent. In connection with Nexstar’s Merger with Media General consummated on January 17, 2017, Nexstar began to provide sales, programming and other services to stations owned by VIEs with whom Media General had agreements. These VIEs are Shield Media, LLC (“Shield”), Vaughan Media, LLC (“Vaughan”), Tamer Media, LLC (“Tamer”) and Super Towers, Inc. (“Super Towers”). Nexstar became the primary beneficiaries of these VIEs as of the closing date of the Merger because of (1) the local service agreements Nexstar assumed with these VIEs’ stations, (2) Nexstar’s guarantee of the outstanding obligations under Shield’s senior secured credit facility (Note 7), (3) Nexstar having power over significant activities affecting these entities’ economic performance, including budgeting for advertising revenue, advertising sales and hiring and firing of sales force personnel and (4) purchase options granted by Shield, Vaughan, Tamer and Super Towers that permit Nexstar to acquire the assets and assume the liabilities of each of these VIEs’ stations at any time, subject to FCC consent. Therefore, the financial results and financial position of these entities have been consolidated by Nexstar in accordance with the VIE accounting guidance as of January 17, 2017. Nexstar had variable interests in the stations previously owned by WVMH as a result of TBAs effective December 1, 2015 and the agreement to acquire the assets of these stations dated November 16, 2015. On August 2, 2016, Nexstar received approval from the FCC to acquire these stations. Nexstar re-evaluated the business arrangements with these stations as of this date and determined that it was the primary beneficiary of the variable interests because it had the ultimate power to direct the activities that most significantly impact the economic performance of the stations including developing the annual operating budget, programming and oversight and control of sales management personnel. Therefore, Nexstar consolidated the WVMH stations as of August 2, 2016. The final closing of this acquisition completed on January 31, 2017. Thus, Nexstar no longer has variable interests in these stations. See Note 3 for additional information. Nexstar had a variable interest in Parker Broadcasting of Colorado, LLC (“Parker”), the owner of station KFQX, pursuant to a TBA which Nexstar assumed effective June 13, 2014. Nexstar evaluated the business arrangement with Parker as of this date and determined that it was the primary beneficiary of the variable interest because it had the ultimate power to direct the activities that most significantly impact the economic performance of the station including developing the annual operating budget, programming and oversight and control of sales management personnel. Therefore, Nexstar consolidated Parker as of June 13, 2014. On March 31, 2017, Mission acquired the outstanding equity of Parker and effectively acquired Parker’s TBA with Nexstar. Thus, Nexstar no longer has a variable interest in Parker and deconsolidated its accounts. However, since Nexstar is the primary beneficiary of variable interests in Mission, it retained a controlling financial interest in KFQX and, therefore, continued to consolidate this station. See Note 3 for additional information. The following table summarizes the various local service agreements Nexstar had in effect as of June 30, 2017 with Mission, Marshall, White Knight, Shield, Vaughan, Tamer and Super Towers: Service Agreements Owner Full Power Stations TBA Only Mission WFXP, KHMT and KFQX LMA Only Super Towers WNAC Vaughan KNVA SSA & JSA Mission KJTL, KLRT, KASN, KOLR, KCIT, KAMC, KRBC, KSAN, WUTR, WAWV, WYOU, KODE, WTVO, KTVE, WTVW and WVNY Marshall KLJB, KPEJ and KMSS White Knight WVLA, KFXK, KSHV Shield WXXA and WLAJ Vaughan WBDT, WYTV and KTKA Tamer KWBQ, KASY and KRWB Nexstar’s ability to receive cash from Mission, Marshall, White Knight, Shield, Vaughan, Tamer and Super Towers is governed by the local service agreements. Under these agreements, Nexstar has received substantially all of the consolidated VIEs’ available cash, after satisfaction of operating costs and debt obligations. Nexstar anticipates it will continue to receive substantially all of the consolidated VIEs’ available cash, after satisfaction of operating costs and debt obligations. In compliance with FCC regulations for all the parties, Mission, Marshall, White Knight, Shield, Vaughan, Tamer and Super Towers maintain complete responsibility for and control over programming, finances, personnel and operations of their stations. The carrying amounts and classification of the assets and liabilities of the VIEs which have been included in the Condensed Consolidated Balance Sheets were as follows (in thousands): June 30, December 31, 2017 2016 Current assets: Cash and cash equivalents $ 14,417 $ 7,302 Accounts receivable, net 27,295 20,553 Prepaid expenses and other current assets 31,003 3,353 Total current assets 72,715 31,208 Property and equipment, net 27,077 29,984 Goodwill 177,666 98,107 FCC licenses 177,311 114,791 Other intangible assets, net 101,069 87,668 Other noncurrent assets, net 7,455 13,233 Total assets $ 563,293 $ 374,991 Current liabilities: Current portion of debt $ 57,860 $ 8,334 Interest payable 397 1,031 Other current liabilities 23,173 12,606 Total current liabilities 81,430 21,971 Debt 246,784 268,499 Other noncurrent liabilities 38,840 26,590 Total liabilities $ 367,054 $ 317,060 Non-Consolidated VIEs Nexstar has an outsourcing agreement with Cunningham Broadcasting Corporation (“Cunningham”), which continues through December 31, 2017. Under the outsourcing agreement, Nexstar provides certain engineering, production, sales and administrative services for WYZZ, the FOX affiliate in the Peoria, Illinois market, through WMBD, the Nexstar television station in that market. During the term of the outsourcing agreement, Nexstar retains the broadcasting revenue and related expenses of WYZZ and is obligated to pay a monthly fee based on the combined operating cash flow of WMBD and WYZZ, as defined in the agreement. Nexstar has determined that it has a variable interest in WYZZ. Nexstar has evaluated its arrangements with Cunningham and has determined that it is not the primary beneficiary of the variable interest in this station because it does not have the ultimate power to direct the activities that most significantly impact the station’s economic performance, including developing the annual operating budget, programming and oversight and control of sales management personnel. Therefore, Nexstar has not consolidated WYZZ under authoritative guidance related to the consolidation of VIEs. Under the local service agreement for WYZZ, Nexstar pays for certain operating expenses, and therefore may have unlimited exposure to any potential operating losses. Nexstar’s management believes that Nexstar’s minimum exposure to loss under the WYZZ agreement consists of the fees paid to Cunningham. Additionally, Nexstar indemnifies the owners of Cunningham from and against all liability and claims arising out of or resulting from its activities, acts or omissions in connection with the agreement. The maximum potential amount of future payments Nexstar could be required to make for such indemnification is undeterminable at this time. There were no significant transactions that arise from Nexstar’s outsourcing agreement with Cunningham.
Financial Instruments	Financial Instruments The carrying amounts of cash and cash equivalents, accounts receivable, broadcast rights, accounts payable, broadcast rights payable and accrued expenses approximate fair value due to their short-term nature. See Note 3 for fair value disclosures of contingent consideration liability in connection with Nexstar’s merger with Media General. See Note 7 for fair value disclosures related to the Company’s debt.
Pension Plans and Postretirement Benefits	Pension plans and postretirement benefits A determination of the liabilities and cost of the Company’s pension and other postretirement plans requires the use of assumptions. The actuarial assumptions used in the Company’s pension and postretirement reporting are reviewed annually with independent actuaries and are compared with external benchmarks, historical trends and the Company’s own experience to determine that its assumptions are reasonable. The assumptions used in developing the required estimates include the following key factors: discount rates, expected return on plan assets, mortality rates, health care cost trends, retirement rates and expected contributions. The amount by which the projected benefit obligation exceeds the fair value of the pension plan assets is recorded in other noncurrent liabilities in the accompanying Condensed Consolidated Balance Sheet.
Income Per Share	Income Per Share Basic income per share is computed by dividing the net income attributable to Nexstar by the weighted-average number of common shares outstanding during the period. Diluted income per share is computed using the weighted-average number of common shares and potentially dilutive common shares outstanding during the period. Potentially dilutive common shares are calculated using the treasury stock method. They consist of stock options and restricted stock units outstanding during the period and reflect the potential dilution that could occur if common stock were issued upon exercise of stock options and vesting of restricted stock units. The following table shows the amounts used in computing the Company’s diluted shares (in thousands): Three Months Ended Six Months Ended June 30, June 30, 2017 2016 2017 2016 Weighted average shares outstanding - basic 46,931 30,680 45,573 30,669 Dilutive effect of equity incentive plan instruments 1,264 940 1,242 910 Weighted average shares outstanding - diluted 48,195 31,620 46,815 31,579 Stock options and restricted stock units to acquire a weighted average of 27,000 shares and 260,000 shares for the three months ended June 30, 2017 and 2016, respectively, and 289,000 shares and 590,000 shares during the six months ended June 30, 2017 and 2016, respectively, of Class A common stock were excluded from the computation of diluted earnings per share, because their impact would have been anti-dilutive.
Basis of Presentation	Basis of Presentation Certain prior year financial statement amounts have been reclassified to conform to the current year presentation. These reclassifications had no effect on net income or stockholders’ equity as previously reported.
Recent Accounting Pronouncements	Recent Accounting Pronouncements In May 2014, the FASB issued ASU No. 2014-09, Revenue from Contracts with Customers (Topic 606) (ASU 2014-09), which updates the accounting guidance on revenue recognition. This standard is intended to provide a more robust framework for addressing revenue issues, improve comparability of revenue recognition practices, and improve disclosure requirements. In March 2016, the FASB issued ASU No. 2016-08, Revenue from Contracts with Customers (Topic 606): Principal versus Agent Considerations (ASU 2016-08). The purpose of ASU 2016-08 is to clarify the implementation of guidance on principal versus agent considerations. In April 2016, the FASB issued ASU No. 2016-10, Revenue from Contracts with Customers (Topic 606): Identifying Performance Obligations and Licensing (ASU 2016-10), which clarifies the implementation guidance in identifying performance obligations in a contract and determining whether an entity’s promise to grant a license provides a customer with either a right to use the entity’s intellectual property (which is satisfied at a point in time) or a right to access the entity’s intellectual property (which is satisfied over time). In May 2016, the FASB issued ASU No. 2016-12, Revenue from Contracts with Customers: Narrow-Scope Improvements and Practical Expedients (ASU 2016-12). The standard amends guidance in the new revenue standard on collectibility, noncash consideration, presentation of sales tax, and transition and is intended to address implementation issues that were raised by stakeholders and provide additional practical expedients. In December 2016, the FASB issued ASU 2016-20, Technical Corrections and Improvements to Topic 606, Revenue from Contracts with Customers (ASU 2016-20), which makes minor corrections or minor improvements that are not expected to have a significant effect on current accounting practice or create a significant administrative cost to most entities. The amendments are intended to address implementation issues that were raised by stakeholders and provide additional practical expedients to reduce the cost and complexity of applying the new revenue standard. These updates are effective for interim and annual reporting periods beginning after December 15, 2017. The Company does not plan to early adopt, and accordingly, it will adopt these updates effective January 1, 2018. The Company is currently evaluating its adoption approach and its final determination will depend on a number of factors, including the significance of the impact of these updates on the Company’s financial results, the Company’s ability to accumulate and analyze the information necessary to assess the impact on prior period financial statements and its ability to maintain two sets of financial information under current and new standards if it were to adopt the full retrospective approach. The Company has also started allocating resources to analyze each of its revenue streams. The Company continues to assess the potential impacts of the new standard on its financial statements. In February 2016, the FASB issued ASU No. 2016-02, Leases (Topic 842) (ASU 2016-02). The new guidance requires the recording of assets and liabilities arising from leases on the balance sheet accompanied by enhanced qualitative and quantitative disclosures in the notes to the financial statements. The new guidance is expected to provide transparency of information and comparability among organizations. ASU 2016-02 is effective for interim and annual reporting periods beginning after December 15, 2018, with early adoption permitted. The Company is currently evaluating the impact of the provisions of the accounting standard update. In March 2016, the FASB issued ASU No. 2016-09, Compensation - Stock Compensation (Topic 718): Improvements to Employee Share-Based Payment Accounting (ASU 2016-09). The standard is intended to simplify several areas of accounting for share-based compensation arrangements, including the income tax impact, classification on the statement of cash flows and forfeitures. ASU 2016-09 is effective for fiscal years, and interim periods within those years, beginning after December 15, 2016. The Company has applied the change in accounting as of January 1, 2017 and excess tax benefits and tax deficiencies related to stock-based compensation are now recognized within income tax expense. Additionally, excess tax benefits are now classified along with other income tax cash flows as an operating activity in the condensed consolidated statements of cash flows. As such, the amounts previously reported as cash flows from operating activities were increased by $13.2 million and the amount previously reported as cash flows from financing activities were decreased by $13.2 million in the Condensed Consolidated Statement of Cash Flows during the six months ended June 30, 2016. The change in accounting principle did not impact the Company’s stockholders’ equity. In October 2016, the FASB issued ASU No. 2016-16, Income Taxes (Topic 740): Intra-Entity Transfers of Assets Other Than Inventory (ASU 2016-16). The amendments of ASU 2016-16 were issued to improve the accounting for the income tax consequences of intra-entity transfers of assets other than inventory. The current guidance prohibits the recognition of current and deferred income taxes for an intra-entity asset transfer until the asset has been sold to an outside party which has resulted in diversity in practice and increased complexity within financial reporting. The amendments of ASU 2016-16 would require an entity to recognize the income tax consequences of an intra-entity transfer of an asset other than inventory when the transfer occurs and do not require new disclosure requirements. The amendments of ASU 2016-16 are effective for annual reporting periods beginning after December 15, 2017. The Company has applied the change in accounting as of January 1, 2017 using the modified retrospective approach. This adoption impacted Nexstar’s previous treatment of tax gain on the sale of WTVW to Mission in 2011. As such, the amounts previously reported as other noncurrent assets, deferred tax liabilities and accumulated deficit in the condensed consolidated balance sheet were decreased by $1.3 million, $2.1 million and $0.8 million, respectively. In November 2016, the FASB issued ASU No. 2016-18, Statement of Cash Flows (Topic 230): Restricted Cash, a consensus of the FASB Emerging Issues Task Force (ASU 2016-18), which provides guidance on the presentation of restricted cash or restricted cash equivalents in the statement of cash flows. ASU 2016-18 is effective for public business entities in fiscal years beginning after December 15, 2017, including interim periods within those fiscal years. Early adoption is permitted, including adoption in an interim period. The Company is currently evaluating the impact of these updates on its financial statements. In January 2017, the FASB issued ASU No. 2017-01, Business Combinations (Topic 805): Clarifying the Definition of a Business (ASU 2017-01). ASU 2017-01 provides clarification on the definition of a business and adds guidance to assist entities with evaluating whether transactions should be accounted for as acquisitions (or disposals) of assets or businesses. To be considered a business under the new guidance, it must include an input and a substantive process that together significantly contribute to the ability to create output. The amendment removes the evaluation of whether a market participant could replace missing elements. The amendments in this update are effective for fiscal years beginning after December 15, 2017, including interim periods within those fiscal years, and will be applied prospectively. The potential impact of this new guidance will be assessed for future acquisitions or dispositions, but it is not expected to have a material impact on the Company's consolidated financial statements. In January 2017, the FASB issued ASU No. 2017-04, Simplifying the Test for Goodwill Impairment (ASU 2017-04). The standard removes Step 2 of the goodwill impairment test, which requires a company to perform procedures to determine the fair value of a reporting unit's assets and liabilities following the procedure that would be required in determining the fair value of assets acquired and liabilities assumed in a business combination. Instead, a goodwill impairment charge will now be measured as the amount by which a reporting unit's carrying value exceeds its fair value, not to exceed the carrying amount of goodwill. ASU No. 2017-04 will be effective for fiscal years beginning on January 1, 2020, including interim periods within those fiscal years, and early adoption as of January 1, 2017 is permitted. The new guidance is required to be applied on a prospective basis and as such, the Company will use the simplified test in its annual fourth fiscal quarter testing or more often if circumstances indicate a potential impairment may exist, or if events have affected the composition of reporting units. The new guidance is not expected to have a material impact on the Company’s consolidated financial statements. In March 2017, the FASB issued ASU No. 2017-07, Compensation—Retirement Benefits (Topic 715): Improving the Presentation of Net Periodic Pension Cost and Net Periodic Postretirement Benefit Cost (ASU 2017-07). ASU 2017-07 requires entities to (1) disaggregate the current-service-cost component from the other components of net benefit cost (the “other components”) and present it with other current compensation costs for related employees in the income statement and (2) present the other components elsewhere in the income statement and outside of income from operations if that subtotal is presented. In addition, ASU 2017-07 requires entities to disclose the income statement lines that contain the other components if they are not presented on appropriately described separate lines. The amendment should be applied retrospectively for the presentation of the service cost component and prospectively for the capitalization of the service cost component. ASU 2017-07 is effective for fiscal years beginning after December 15, 2017, including interim periods within those fiscal years. Early adoption is permitted at the beginning of any annual period for which an entity’s financial statements have not been issued or made available for issuance. The Company is currently evaluating the impact of the provisions of this accounting standard update. In May 2017, the FASB issued ASU No. 2017-09, Compensation—Stock Compensation (Topic 718) – Scope of Modification Accounting (ASU 2017-09). ASU 2017-09 clarifies when changes to the terms or conditions of a share-based payment award must be accounted for as modifications. The new guidance will reduce diversity in practice and result in fewer changes to the terms of an award being accounted for as modifications. Under ASU 2017-09, an entity will not apply modification accounting to a share-based payment award if the award’s fair value, vesting conditions and classification as an equity or liability instrument are the same immediately before and after the change. ASU 2017-09 will be applied prospectively to awards modified on or after the adoption date. The effective date will be the first quarter of fiscal year 2018. Early adoption is permitted. The adoption of this standard is not expected to have a material impact on the Company’s consolidated financial statements.

Summary of Significant Accoun23

Summary of Significant Accounting Policies (Tables)	6 Months Ended
	Jun. 30, 2017
Consolidated VIEs	The carrying amounts and classification of the assets and liabilities of the VIEs which have been included in the Condensed Consolidated Balance Sheets were as follows (in thousands): June 30, December 31, 2017 2016 Current assets: Cash and cash equivalents $ 14,417 $ 7,302 Accounts receivable, net 27,295 20,553 Prepaid expenses and other current assets 31,003 3,353 Total current assets 72,715 31,208 Property and equipment, net 27,077 29,984 Goodwill 177,666 98,107 FCC licenses 177,311 114,791 Other intangible assets, net 101,069 87,668 Other noncurrent assets, net 7,455 13,233 Total assets $ 563,293 $ 374,991 Current liabilities: Current portion of debt $ 57,860 $ 8,334 Interest payable 397 1,031 Other current liabilities 23,173 12,606 Total current liabilities 81,430 21,971 Debt 246,784 268,499 Other noncurrent liabilities 38,840 26,590 Total liabilities $ 367,054 $ 317,060
Weighted Average Shares Outstanding	Basic income per share is computed by dividing the net income attributable to Nexstar by the weighted-average number of common shares outstanding during the period. Diluted income per share is computed using the weighted-average number of common shares and potentially dilutive common shares outstanding during the period. Potentially dilutive common shares are calculated using the treasury stock method. They consist of stock options and restricted stock units outstanding during the period and reflect the potential dilution that could occur if common stock were issued upon exercise of stock options and vesting of restricted stock units. The following table shows the amounts used in computing the Company’s diluted shares (in thousands): Three Months Ended Six Months Ended June 30, June 30, 2017 2016 2017 2016 Weighted average shares outstanding - basic 46,931 30,680 45,573 30,669 Dilutive effect of equity incentive plan instruments 1,264 940 1,242 910 Weighted average shares outstanding - diluted 48,195 31,620 46,815 31,579
Consolidated VIEs [Member]
Consolidated VIEs	The following are assets of consolidated VIEs that are not available to settle the obligations of Nexstar and the liabilities of consolidated VIEs for which their creditors do not have recourse to the general credit of Nexstar (in thousands): June 30, December 31, 2017 2016 Current assets $ 52,540 $ 3,638 Property and equipment, net 8,506 6,944 Goodwill 144,479 46,465 FCC licenses 177,311 114,791 Other intangible assets, net 84,080 53,747 Other noncurrent assets, net 3,931 613 Total assets 470,847 226,198 Current liabilities 23,173 12,606 Noncurrent liabilities 38,261 26,590 Total liabilities $ 61,434 $ 39,196

Acquisitions and Dispositions (

Acquisitions and Dispositions (Tables)	6 Months Ended
	Jun. 30, 2017
Business Acquisition [Line Items]
Unaudited Pro forma Information	The following unaudited pro forma information (in thousands) has been presented for the periods indicated as if the Merger with Media General and the related consolidation of VIEs had occurred on January 1, 2016. The unaudited pro forma information combined the historical results of Nexstar and Media General, adjusted for business combination accounting effects including transaction costs attributable to the Merger, the net gain on disposal of television stations in connection with the Merger, the depreciation and amortization charges from acquired intangible assets, the interest on new debt and the related tax effects. The pro forma financial information as presented below is for informational purposes only and is not indicative of the results of operations that would have been achieved if the acquisitions had taken place at the beginning of fiscal year 2016. Three Months Ended Six Months Ended June 30, June 30, 2017 2016 2017 2016 Net revenue $ 626,039 $ 591,663 $ 1,218,806 $ 1,157,207 Income before income taxes 85,162 72,242 120,622 11,651 Net income 51,098 42,260 78,013 29,748 Net income attributable to Nexstar 46,635 41,260 74,655 27,724 Net income per common share attributable to Nexstar - basic $ 0.99 $ 0.88 $ 1.59 $ 0.59 Net income per common share attributable to Nexstar - diluted $ 0.97 $ 0.86 $ 1.55 $ 0.58
Media General [Member]
Business Acquisition [Line Items]
Components of Total Consideration Paid, Payable or Issued in Connection with Merger	The following table summarizes the components of the total consideration paid, payable or issued on the Closing Date in connection with the Merger (in thousands): Cash Consideration $ 1,376,108 Nexstar Common Stock issued (15,670,094 shares) 995,835 Reissued Nexstar Common Stock from treasury (560,316 shares) 35,608 Stock option replacement awards (228,438 options) 10,702 Repayment of Media General debt, including premium and accrued interest 1,658,135 Contingent consideration liability (CVR) 275,352 $ 4,351,740
Schedule of Assets Acquired and Liabilities Assumed	Subject to final determination, which is expected to occur within twelve months of the acquisition date, the provisional fair values of the assets acquired and liabilities assumed (net of the effects of the Media General Divestitures but including the consolidation of the assets and liabilities of Shield, Tamer, Vaughan and Super Towers) are as follows (in thousands): Cash and cash equivalents $ 63,850 Accounts receivable 302,670 Spectrum auction asset 459,004 Prepaid expenses and other current assets 21,953 Property and equipment 483,785 FCC licenses 1,306,550 Network affiliation agreements 1,243,300 Other intangible assets 130,347 Goodwill 1,692,602 Other noncurrent assets 50,949 Total assets acquired and consolidated 5,755,010 Less: Accounts payable and accrued expenses (189,466 ) Less: Taxes payable (17,344 ) Less: Interest payable (12,794 ) Less: Debt (434,270 ) Less: Deferred tax liabilities (946,402 ) Less: Other noncurrent liabilities (227,702 ) Less: Noncontrolling interests in consolidated VIEs (7,600 ) Net assets acquired and consolidated $ 3,919,432
WVMH [Member]
Business Acquisition [Line Items]
Schedule of Assets Acquired and Liabilities Assumed	The fair values of the assets acquired and liabilities assumed in the first closing are as follows (in thousands): Accounts receivable $ 438 Prepaid expenses and other current assets 114 Property and equipment 18,362 Other intangible assets 3,402 Goodwill 35 Total assets acquired at first closing 22,351 Less: Accounts payable and accrued expenses (623 ) Less: Other noncurrent liabilities (307 ) Net assets acquired at first closing 21,421 Deposit on second closing 43,543 Total paid at first closing $ 64,964
WVMH [Member] | Consolidated VIEs [Member]
Business Acquisition [Line Items]
Schedule of Assets Acquired and Liabilities Assumed	The fair values of the assets consolidated were as follows (in thousands): Broadcast rights $ 527 Property and equipment 3,489 FCC licenses 41,230 Network affiliation agreements 35,387 Goodwill 28,588 Consolidated assets of VIEs 109,221 Less: Broadcast rights payable (527 ) Consolidated net asset of VIEs $ 108,694
Parker [Member]
Business Acquisition [Line Items]
Schedule of Assets Acquired and Liabilities Assumed	Subject to final determination, which is expected to occur within twelve months of the acquisition date, the provisional fair values of the assets acquired and liabilities assumed are as follows (in thousands): FCC licenses $ 1,539 Network affiliation agreements 1,743 Other intangible assets 20 Goodwill 698 Total assets acquired $ 4,000

Intangible Assets and Goodwill

Intangible Assets and Goodwill (Tables)	6 Months Ended
	Jun. 30, 2017
Goodwill And Intangible Assets Disclosure [Abstract]
Intangible Assets Subject to Amortization	Intangible assets subject to amortization consisted of the following (in thousands): Estimated June 30, 2017 December 31, 2016 useful life, Accumulated Accumulated in years Gross Amortization Net Gross Amortization Net Network affiliation agreements 15 $ 1,888,753 $ (401,252 ) $ 1,487,501 $ 659,054 $ (357,704 ) $ 301,350 Other definite-lived intangible assets 1-15 218,653 (100,129 ) 118,524 89,404 (66,017 ) 23,387 Other intangible assets $ 2,107,406 $ (501,381 ) $ 1,606,025 $ 748,458 $ (423,721 ) $ 324,737
Estimated Amortization Expense of Definite-Lived Intangible Assets	The following table presents the Company’s estimate of amortization expense for the remainder of 2017, each of the five succeeding years ended December 31 and thereafter for definite-lived intangible assets as of June 30, 2017 (in thousands): Remainder of 2017 $ 67,798 2018 130,593 2019 126,919 2020 116,696 2021 112,383 2022 109,295 Thereafter 942,341 $ 1,606,025
Goodwill and FCC Licenses	The amounts recorded to goodwill and FCC licenses were as follows (in thousands): Goodwill FCC Licenses Accumulated Accumulated Gross Impairment Net Gross Impairment Net Balances as of December 31, 2016 $ 534,557 $ (61,253 ) $ 473,304 $ 591,945 $ (49,421 ) $ 542,524 Acquisitions and consolidations of VIEs (See Notes 2 and 3) 1,693,224 - 1,693,224 1,308,089 - 1,308,089 Nexstar Divestitures (See Note 3) (22,823 ) 2,861 (19,962 ) (19,744 ) 2,011 (17,733 ) Deconsolidation of a VIE (698 ) - (698 ) (1,539 ) (1,539 ) Balances as of June 30, 2017 $ 2,204,260 $ (58,392 ) $ 2,145,868 $ 1,878,751 $ (47,410 ) $ 1,831,341

Accrued Expenses (Tables)

Accrued Expenses (Tables)	6 Months Ended
	Jun. 30, 2017
Payables And Accruals [Abstract]
Accrued Expenses	Accrued expenses consisted of the following (in thousands): June 30, December 31, 2017 2016 Compensation and related taxes $ 39,452 $ 20,713 Network affiliation fees 89,484 30,153 Other 71,383 20,449 $ 200,319 $ 71,315 The increases in accrued expenses relate to Nexstar’s acquisitions as discussed in Note 3.

Retirement and Postretirement27

Retirement and Postretirement Plans (Tables)	6 Months Ended
	Jun. 30, 2017
Compensation And Retirement Disclosure [Abstract]
Summary of Components of Net Periodic Benefit Cost (Income)	The following table provides the components of net periodic benefit cost (income) for the Company’s benefit plans in 2017: Three Months Ended Six Months Ended June 30, 2017 June 30, 2017 Pension Benefits Other Benefits Pension Benefits Other Benefits Service cost $ - $ - $ - $ - Interest cost 3,913 157 7,174 287 Expected return on plan assets (7,226 ) - (13,248 ) - Net periodic benefit (income) cost $ (3,313 ) $ 157 $ (6,074 ) $ 287

Debt (Tables)

Debt (Tables)	6 Months Ended
	Jun. 30, 2017
Debt Disclosure [Abstract]
Long Term Debt	Long-term debt consisted of the following (in thousands): June 30, December 31, 2017 2016 Term loans, net of financing costs and discount of $59,997 and $6,592, respectively $ 2,865,003 $ 662,206 Revolving loans 3,000 2,000 6.875% Senior unsecured notes due 2020, net of financing costs and discount of $4,295 - 520,705 6.125% Senior unsecured notes due 2022, net of financing costs of $2,200 and $2,402, respectively 272,800 272,598 5.875% Senior unsecured notes due 2022, plus premium of $9,081 409,081 - 5.625% Senior unsecured notes due 2024, net of financing costs of $14,354 and $15,090, respectively 885,646 884,910 4,435,530 2,342,419 Less: current portion (57,860 ) (28,093 ) $ 4,377,670 $ 2,314,326
Fair Value of Debt	The aggregate carrying amounts and estimated fair values of the Company’s debt were as follows (in thousands): June 30, 2017 December 31, 2016 Carrying Fair Carrying Fair Amount Value Amount Value Term loans (1) $ 2,865,003 $ 2,987,990 $ 662,206 $ 665,750 Revolving loans (1) 3,000 2,979 2,000 1,969 6.875% Senior unsecured notes (2) - - 520,705 543,375 6.125% Senior unsecured notes (2) 272,800 287,719 272,598 284,625 5.875% Senior unsecured notes (2) 409,081 419,000 - - 5.625% Senior unsecured notes (2) 885,646 904,500 884,512 893,250 (1) The fair value of senior secured credit facilities is computed based on borrowing rates currently available to the Company for bank loans with similar terms and average maturities. These fair value measurements are considered Level 3, as significant inputs to the fair value calculation are unobservable in the market. (2) The fair value of the Company’s fixed rate debt is estimated based on bid prices obtained from an investment banking firm that regularly makes a market for these financial instruments. These fair value measurements are considered Level 2, as quoted market prices are available for low volume trading of these securities.

Segment Data (Tables)

Segment Data (Tables)	6 Months Ended
	Jun. 30, 2017
Segment Reporting [Abstract]
Schedule of Segment Financial Information	Segment financial information is included in the following tables for the periods presented (in thousands): Three Months Ended June 30, 2017 Broadcasting Other Consolidated Net revenue $ 594,489 $ 31,626 $ 626,115 Depreciation 24,702 1,590 26,292 Amortization of intangible assets 33,274 5,283 38,557 Income (loss) from operations 170,337 (31,652 ) 138,685 Three Months Ended June 30, 2016 Broadcasting Other Consolidated Net revenue $ 246,404 $ 15,590 $ 261,994 Depreciation 11,172 1,567 12,739 Amortization of intangible assets 7,952 3,367 11,319 Income (loss) from operations 82,054 (18,047 ) 64,007 Six Months Ended June 30, 2017 Broadcasting Other Consolidated Net revenue $ 1,105,656 $ 60,776 $ 1,166,432 Depreciation 41,644 6,874 48,518 Amortization of intangible assets 79,207 7,508 86,715 Income (loss) from operations 360,045 (111,209 ) 248,836 Six Months Ended June 30, 2016 Broadcasting Other Consolidated Net revenue $ 487,492 $ 30,160 $ 517,652 Depreciation 22,159 3,138 25,297 Amortization of intangible assets 16,663 6,735 23,398 Income (loss) from operations 158,982 (37,046 ) 121,936 As of June 30, 2017 Broadcasting Other Consolidated Goodwill $ 2,005,396 $ 140,472 $ 2,145,868 Assets 6,615,960 853,657 7,469,617 As of December 31, 2016 Broadcasting Other Consolidated Goodwill $ 449,682 $ 23,622 $ 473,304 Assets 1,811,042 1,155,043 2,966,085

Condensed Consolidating Finan30

Condensed Consolidating Financial Information (Tables)	6 Months Ended
	Jun. 30, 2017
Condensed Financial Information Of Parent Company Only Disclosure [Abstract]
Schedule of Condensed Consolidating Balance Sheet	CONDENSED CONSOLIDATING BALANCE SHEET As of June 30, 2017 (in thousands) Nexstar Non- Consolidated Nexstar Broadcasting Mission Guarantors Eliminations Company ASSETS Current assets: Cash and cash equivalents $ - $ 67,795 $ 5,909 $ 12,198 $ - $ 85,902 Accounts receivable - 433,461 12,789 56,869 - 503,119 Amounts due from consolidated entities - 203,804 102,431 - (306,235 ) - Spectrum auction asset - 432,777 - 26,227 - 459,004 Other current assets - 23,328 1,477 5,685 - 30,490 Total current assets - 1,161,165 122,606 100,979 (306,235 ) 1,078,515 Investments in subsidiaries 182,349 127,093 - - (309,442 ) - Amounts due from consolidated entities 1,021,003 - - - (1,021,003 ) - Property and equipment, net - 700,692 18,571 19,539 (75 ) 738,727 Goodwill - 1,827,730 33,187 284,951 - 2,145,868 FCC licenses - 1,654,030 43,102 134,209 - 1,831,341 Other intangible assets, net - 1,457,117 16,989 131,919 - 1,606,025 Other noncurrent assets - 61,427 2,945 4,769 - 69,141 Total assets $ 1,203,352 $ 6,989,254 $ 237,400 $ 676,366 $ (1,636,755 ) $ 7,469,617 LIABILITIES AND STOCKHOLDERS' EQUITY (DEFICIT) Current liabilities: Current portion of debt $ - $ - $ 2,320 $ 55,540 $ - $ 57,860 Accounts payable - 22,918 1,110 3,904 - 27,932 Amounts due to consolidated entities - - - 306,235 (306,235 ) - Other current liabilities - 673,636 13,540 21,480 - 708,656 Total current liabilities - 696,554 16,970 387,159 (306,235 ) 794,448 Debt - 4,130,886 224,459 22,325 - 4,377,670 Amounts due to consolidated entities - 765,150 - 256,063 (1,021,213 ) - Deferred tax liabilities - 862,812 - 23,832 - 886,644 Other noncurrent liabilities - 189,836 9,358 8,115 - 207,309 Total liabilities - 6,645,238 250,787 697,494 (1,327,448 ) 6,266,071 Total stockholders' equity (deficit) 1,203,352 344,016 (13,387 ) (34,362 ) (309,307 ) 1,190,312 Noncontrolling interests in consolidated variable interest entities - - - 13,234 - 13,234 Total liabilities and stockholders' equity (deficit) $ 1,203,352 $ 6,989,254 $ 237,400 $ 676,366 $ (1,636,755 ) $ 7,469,617 CONDENSED CONSOLIDATING BALANCE SHEET As of December 31, 2016 (in thousands) Nexstar Non- Consolidated Nexstar Broadcasting Mission Guarantors Eliminations Company ASSETS Current assets: Cash and cash equivalents $ - $ 75,830 $ 6,478 $ 5,372 $ - $ 87,680 Accounts receivable - 184,921 12,332 20,805 - 218,058 Amounts due from consolidated entities - 5,623 80,815 - (86,438 ) - Other current assets - 53,762 1,337 2,380 - 57,479 Total current assets - 320,136 100,962 28,557 (86,438 ) 363,217 Investments in subsidiaries 256,391 38,259 - - (294,650 ) - Amounts due from consolidated entities - 66,170 - - (66,170 ) - Property and equipment, net - 244,623 19,564 12,041 (75 ) 276,153 Goodwill - 380,164 33,187 59,953 - 473,304 FCC licenses - 468,963 43,102 30,459 - 542,524 Other intangible assets, net - 258,502 17,922 48,313 - 324,737 Restricted cash - 901,080 - - - 901,080 Other noncurrent assets - 72,070 11,144 1,856 - 85,070 Total assets $ 256,391 $ 2,749,967 $ 225,881 $ 181,179 $ (447,333 ) $ 2,966,085 LIABILITIES AND STOCKHOLDERS' EQUITY (DEFICIT) Current liabilities: Current portion of debt $ - $ 19,759 $ 2,334 $ 6,000 $ - $ 28,093 Accounts payable - 16,234 524 2,996 - 19,754 Amounts due to consolidated entities - - - 86,438 (86,438 ) - Other current liabilities - 118,049 9,017 14,665 - 141,731 Total current liabilities - 154,042 11,875 110,099 (86,438 ) 189,578 Debt - 2,045,827 221,431 47,068 - 2,314,326 Amounts due to consolidated entities 66,380 - - - (66,380 ) - Deferred tax liabilities - 118,155 - 13,853 - 132,008 Other noncurrent liabilities - 33,959 9,832 2,028 - 45,819 Total liabilities 66,380 2,351,983 243,138 173,048 (152,818 ) 2,681,731 Total Nexstar Media Group, Inc. stockholders' equity (deficit) 190,011 289,290 (21,257 ) 5,612 (294,515 ) 169,141 Noncontrolling interest in a consolidated variable interest entity - 108,694 4,000 2,519 - 115,213 Total liabilities and stockholders' equity (deficit) $ 256,391 $ 2,749,967 $ 225,881 $ 181,179 $ (447,333 ) $ 2,966,085
Schedule of Condensed Consolidating Statement of Operations	CONDENSED CONSOLIDATING STATEMENT OF OPERATIONS Three Months Ended June 30, 2017 (in thousands) Nexstar Non- Consolidated Nexstar Broadcasting Mission Guarantors Eliminations Company Net broadcast revenue (including trade and barter) $ - $ 544,266 $ 17,555 $ 64,294 $ - $ 626,115 Revenue between consolidated entities - 18,656 9,400 6,438 (34,494 ) - Net revenue - 562,922 26,955 70,732 (34,494 ) 626,115 Operating expenses: Direct operating expenses, excluding depreciation and amortization - 200,039 8,892 44,705 (1,026 ) 252,610 Selling, general, and administrative expenses, excluding depreciation and amortization - 139,477 877 11,351 (7,420 ) 144,285 Local service agreement fees between consolidated entities - 15,577 4,500 5,971 (26,048 ) - Amortization of broadcast rights - 22,723 1,414 1,549 - 25,686 Amortization of intangible assets - 33,146 638 4,773 - 38,557 Depreciation - 24,120 587 1,585 - 26,292 Total operating expenses - 435,082 16,908 69,934 (34,494 ) 487,430 Income from operations - 127,840 10,047 798 - 138,685 Interest expense, net - (51,760 ) (2,556 ) (1,369 ) - (55,685 ) Loss on extinguishment of debt - (1,323 ) - - - (1,323 ) Other (expenses) income - (1,331 ) - 431 - (900 ) Equity in income of subsidiaries 39,434 - - - (39,434 ) - Income before income taxes 39,434 73,426 7,491 (140 ) (39,434 ) 80,777 Income tax (expense) benefit - (28,850 ) (2,917 ) (555 ) - (32,322 ) Net income 39,434 44,576 4,574 (695 ) (39,434 ) 48,455 Net income attributable to noncontrolling interests - - - (4,463 ) - (4,463 ) Net income (loss) attributable to Nexstar $ 39,434 $ 44,576 $ 4,574 $ (5,158 ) $ (39,434 ) $ 43,992 CONDENSED CONSOLIDATING STATEMENT OF OPERATIONS Three Months Ended June 30, 2016 (in thousands) Nexstar Non- Consolidated Nexstar Broadcasting Mission Guarantors Eliminations Company Net broadcast revenue (including trade and barter) $ - $ 221,860 $ 15,085 $ 25,049 $ - $ 261,994 Revenue between consolidated entities - 8,567 9,659 2,829 (21,055 ) - Net revenue - 230,427 24,744 27,878 (21,055 ) 261,994 Operating expenses: Direct operating expenses, excluding depreciation and amortization - 69,445 7,400 16,153 (63 ) 92,935 Selling, general, and administrative expenses, excluding depreciation and amortization - 60,513 861 5,585 (1,187 ) 65,772 Local service agreement fees between consolidated entities - 11,238 4,500 4,067 (19,805 ) - Amortization of broadcast rights - 13,005 1,389 828 - 15,222 Amortization of intangible assets - 6,549 637 4,133 - 11,319 Depreciation - 11,236 600 903 - 12,739 Total operating expenses - 171,986 15,387 31,669 (21,055 ) 197,987 Income (loss) from operations - 58,441 9,357 (3,791 ) - 64,007 Interest expense, net - (17,871 ) (2,309 ) (397 ) - (20,577 ) Other expenses - (147 ) - - - (147 ) Equity in income of subsidiaries 20,258 - - - (20,258 ) - Income (loss) before income taxes 20,258 40,423 7,048 (4,188 ) (20,258 ) 43,283 Income tax (expense) benefit - (16,188 ) (2,775 ) 479 - (18,484 ) Net income (loss) 20,258 24,235 4,273 (3,709 ) (20,258 ) 24,799 Net income attributable to noncontrolling interests - - - (270 ) - (270 ) Net income (loss) attributable to Nexstar $ 20,258 $ 24,235 $ 4,273 $ (3,979 ) $ (20,258 ) $ 24,529 CONDENSED CONSOLIDATING STATEMENT OF OPERATIONS Six Months Ended June 30, 2017 (in thousands) Nexstar Non- Consolidated Nexstar Broadcasting Mission Guarantors Eliminations Company Net broadcast revenue (including trade and barter) $ - $ 1,018,412 $ 35,463 $ 112,557 $ - $ 1,166,432 Revenue between consolidated entities - 32,726 18,222 4,615 (55,563 ) - Net revenue - 1,051,138 53,685 117,172 (55,563 ) 1,166,432 Operating expenses: Direct operating expenses, excluding depreciation and amortization - 378,796 17,912 75,696 (1,065 ) 471,339 Selling, general, and administrative expenses, excluding depreciation and amortization - 303,322 1,850 23,001 (9,586 ) 318,587 Local service agreement fees between consolidated entities - 25,783 9,000 10,129 (44,912 ) - Amortization of broadcast rights - 44,184 2,812 3,157 - 50,153 Amortization of intangible assets - 74,512 1,274 10,929 - 86,715 Depreciation - 44,190 1,175 3,153 - 48,518 Gain on disposal of stations, net - (57,716 ) - - - (57,716 ) Total operating expenses - 813,071 34,023 126,065 (55,563 ) 917,596 Income (loss) from operations - 238,067 19,662 (8,893 ) - 248,836 Interest expense, net - (127,340 ) (5,206 ) (2,376 ) - (134,922 ) Loss on extinguishment of debt - (30,768 ) (2,133 ) (226 ) - (33,127 ) Other expenses - (1,007 ) - - - (1,007 ) Equity in income of subsidiaries 42,558 - - - (42,558 ) - Income (loss) before income taxes 42,558 78,952 12,323 (11,495 ) (42,558 ) 79,780 Income tax (expense) benefit - (24,989 ) (4,798 ) 3,406 - (26,381 ) Net income (loss) 42,558 53,963 7,525 (8,089 ) (42,558 ) 53,399 Net income attributable to noncontrolling interests - - - (3,358 ) - (3,358 ) Net income (loss) attributable to Nexstar $ 42,558 $ 53,963 $ 7,525 $ (11,447 ) $ (42,558 ) $ 50,041 CONDENSED CONSOLIDATING STATEMENT OF OPERATIONS Six Months Ended June 30, 2016 (in thousands) Nexstar Non- Consolidated Nexstar Broadcasting Mission Guarantors Eliminations Company Net broadcast revenue (including trade and barter) $ - $ 437,436 $ 30,245 $ 49,971 $ - $ 517,652 Revenue between consolidated entities - 17,172 18,894 5,494 (41,560 ) - Net revenue - 454,608 49,139 55,465 (41,560 ) 517,652 Operating expenses: Direct operating expenses, excluding depreciation and amortization - 137,981 14,906 30,244 (73 ) 183,058 Selling, general, and administrative expenses, excluding depreciation and amortization - 124,091 1,783 10,368 (2,305 ) 133,937 Local service agreement fees between consolidated entities - 22,010 9,000 8,172 (39,182 ) - Amortization of broadcast rights - 25,398 2,781 1,847 - 30,026 Amortization of intangible assets - 13,857 1,272 8,269 - 23,398 Depreciation - 22,420 1,207 1,670 - 25,297 Total operating expenses - 345,757 30,949 60,570 (41,560 ) 395,716 Income (loss) from operations - 108,851 18,190 (5,105 ) - 121,936 Interest expense, net - (35,811 ) (4,622 ) (798 ) - (41,231 ) Other expenses - (283 ) - - - (283 ) Equity in income of subsidiaries 37,973 - - (37,973 ) - Income (loss) before income taxes 37,973 72,757 13,568 (5,903 ) (37,973 ) 80,422 Income tax (expense) benefit - (29,239 ) (5,283 ) 1,173 - (33,349 ) Net income (loss) 37,973 43,518 8,285 (4,730 ) (37,973 ) 47,073 Net income attributable to noncontrolling interests - - - (817 ) - (817 ) Net income (loss) attributable to Nexstar $ 37,973 $ 43,518 $ 8,285 $ (5,547 ) $ (37,973 ) $ 46,256
Schedule of Condensed Consolidating Cash Flow Statement	CONDENSED CONSOLIDATING STATEMENT OF CASH FLOWS Six Months Ended June 30, 2017 (in thousands) Nexstar Non- Consolidated Nexstar Broadcasting Mission Guarantors Eliminations Company Cash flows from operating activities $ - $ 122,635 $ (756 ) $ 16,003 $ - $ 137,882 Cash flows from investing activities: Purchases of property and equipment - (23,525 ) (182 ) (3,984 ) - (27,691 ) Deposits and payments for acquisitions - (2,970,394 ) (800 ) - - (2,971,194 ) Proceeds from sale of stations - 481,944 - - - 481,944 Other investing activities - 19,638 - - - 19,638 Net cash used in investing activities - (2,492,337 ) (982 ) (3,984 ) - (2,497,303 ) Cash flows from financing activities: Proceeds from long-term debt - 3,697,106 230,840 53,915 - 3,981,861 Repayments of long-term debt - (1,111,606 ) (225,892 ) (53,300 ) - (1,390,798 ) Premium paid on debt extinguishment - (18,050 ) - - - (18,050 ) Payments for debt financing costs - (47,578 ) (3,779 ) - - (51,357 ) Purchase of noncontrolling interests - (66,901 ) - - - (66,901 ) Common stock dividends paid (28,268 ) - - - - (28,268 ) Purchse of treasury stock (58,294 ) - - - - (58,294 ) Inter-company payments 87,291 (87,291 ) - - - - Other financing activities (729 ) (4,013 ) - (5,808 ) - (10,550 ) Net cash provided by (used in) financing activities - 2,361,667 1,169 (5,193 ) - 2,357,643 Net (decrease) increase in cash and cash equivalents - (8,035 ) (569 ) 6,826 - (1,778 ) Cash and cash equivalents at beginning of period - 75,830 6,478 5,372 - 87,680 Cash and cash equivalents at end of period $ - $ 67,795 $ 5,909 $ 12,198 $ - $ 85,902 CONDENSED CONSOLIDATING STATEMENT OF CASH FLOWS Six Months Ended June 30, 2016 (in thousands) Nexstar Non- Consolidated Nexstar Broadcasting Mission Guarantors Eliminations Company Cash flows from operating activities $ - $ 109,517 $ (900 ) $ 768 $ - $ 109,385 Cash flows from investing activities: Purchases of property and equipment - (13,406 ) (110 ) (1,519 ) - (15,035 ) Deposits and payments for acquisitions - (103,969 ) - - - (103,969 ) Other investing activities - 335 - - - 335 Net cash used in investing activities - (117,040 ) (110 ) (1,519 ) - (118,669 ) Cash flows from financing activities: Proceeds from long-term debt - 58,000 - - - 58,000 Repayments of long-term debt - (44,809 ) (1,167 ) (2,100 ) - (48,076 ) Common stock dividends paid (14,716 ) - - - - (14,716 ) Inter-company payments 14,503 (14,503 ) - - - - Other financing activities 213 (2,371 ) - - - (2,158 ) Net cash provided by (used in) financing activities - (3,683 ) (1,167 ) (2,100 ) - (6,950 ) Net decrease in cash and cash equivalents - (11,206 ) (2,177 ) (2,851 ) - (16,234 ) Cash and cash equivalents at beginning of period - 27,492 4,367 11,557 - 43,416 Cash and cash equivalents at end of period $ - $ 16,286 $ 2,190 $ 8,706 $ - $ 27,182

Organization and Business Ope31

Organization and Business Operations (Details)	Jun. 30, 2017TelevisionStationMarket	Jan. 17, 2017TelevisionStationMarket
Television stations and digital multi channel by affiliates [Line Items]
Number of full power television stations owned, operated, programmed or provided sales and other services	170
Number of markets in which the Company's stations broadcast | Market	100
Number of full power television stations owned or operated by independent third parties	36
Media General [Member]
Television stations and digital multi channel by affiliates [Line Items]
Number of markets in which the Company's stations broadcast | Market		48
Number of full power stations acquired		71
Number of stations divested		7
Number of television market of stations acquired | Market		42

Summary of Significant Accoun32

Summary of Significant Accounting Policies - Consolidated VIEs (Details) - USD ($) $ in Thousands		Jun. 30, 2017	Dec. 31, 2016	Jun. 30, 2016	Dec. 31, 2015
Current assets:
Cash and cash equivalents		$ 85,902	$ 87,680	$ 27,182	$ 43,416
Accounts receivable, net		503,119	218,058
Prepaid expenses and other current assets		30,490	30,760
Total current assets		1,078,515	363,217
Property and equipment, net		738,727	276,153
Goodwill		2,145,868	473,304
FCC licenses		1,831,341	542,524
Other intangible assets, net		1,606,025	324,737
Other noncurrent assets, net		69,141	85,070
Total assets	[1]	7,469,617	2,966,085
Current liabilities:
Current portion of debt		57,860	28,093
Interest payable		34,653	44,190
Other current liabilities		10,295	9,714
Total current liabilities		794,448	189,578
Debt		4,377,670	2,314,326
Other noncurrent liabilities		207,309	45,819
Total liabilities	[1]	6,266,071	2,681,731
Consolidated VIEs [Member]
Variable Interest Entity [Line Items]
Consolidated VIEs, Assets		470,847	226,198
Consolidated VIEs, Liabilities		61,434	39,196
Current assets:
Cash and cash equivalents		14,417	7,302
Accounts receivable, net		27,295	20,553
Prepaid expenses and other current assets		31,003	3,353
Total current assets		72,715	31,208
Property and equipment, net		27,077	29,984
Goodwill		177,666	98,107
FCC licenses		177,311	114,791
Other intangible assets, net		101,069	87,668
Other noncurrent assets, net		7,455	13,233
Total assets		563,293	374,991
Current liabilities:
Current portion of debt		57,860	8,334
Interest payable		397	1,031
Other current liabilities		23,173	12,606
Total current liabilities		81,430	21,971
Debt		246,784	268,499
Other noncurrent liabilities		38,840	26,590
Total liabilities		367,054	317,060
Consolidated VIEs [Member] | Current assets [Member]
Variable Interest Entity [Line Items]
Consolidated VIEs, Assets		52,540	3,638
Consolidated VIEs [Member] | Property and equipment, net [Member]
Variable Interest Entity [Line Items]
Consolidated VIEs, Assets		8,506	6,944
Consolidated VIEs [Member] | Goodwill [Member]
Variable Interest Entity [Line Items]
Consolidated VIEs, Assets		144,479	46,465
Consolidated VIEs [Member] | FCC licenses [Member]
Variable Interest Entity [Line Items]
Consolidated VIEs, Assets		177,311	114,791
Consolidated VIEs [Member] | Other intangible assets, net [Member]
Variable Interest Entity [Line Items]
Consolidated VIEs, Assets		84,080	53,747
Consolidated VIEs [Member] | Other noncurrent assets, net [Member]
Variable Interest Entity [Line Items]
Consolidated VIEs, Assets		3,931	613
Consolidated VIEs [Member] | Current liabilities [Member]
Variable Interest Entity [Line Items]
Consolidated VIEs, Liabilities		23,173	12,606
Consolidated VIEs [Member] | Noncurrent liabilities [Member]
Variable Interest Entity [Line Items]
Consolidated VIEs, Liabilities		$ 38,261	$ 26,590
[1]	The consolidated total assets as of June 30, 2017 and December 31, 2016 include certain assets held by consolidated VIEs of $470.8 million and $226.2 million, respectively, which are not available to be used to settle the obligations of Nexstar. The consolidated total liabilities as of June 30, 2017 and December 31, 2016 include certain liabilities of consolidated VIEs of $61.4 million and $39.2 million, respectively, for which the creditors of the VIEs have no recourse to the general credit of Nexstar. See Note 2 for additional information.

Summary of Significant Accoun33

Summary of Significant Accounting Policies - Weighted Average Shares Outstanding (Details) - shares shares in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2017	Jun. 30, 2016
Earnings Per Share Basic And Diluted Other Disclosures [Abstract]
Weighted average shares outstanding - basic	46,931	30,680	45,573	30,669
Dilutive effect of equity incentive plan instruments	1,264	940	1,242	910
Weighted average shares outstanding - diluted	48,195	31,620	46,815	31,579

Summary of Significant Accoun34

Summary of Significant Accounting Policies - Additional Information (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2017	Jun. 30, 2016
Earnings Per Share Basic And Diluted Other Disclosures [Abstract]
Stock options and restricted stock units with potentially dilutive effect (in shares)	27,000	260,000	289,000	590,000
ASU No. 2016-09 [Member]
New Accounting Pronouncements and Changes in Accounting Principles [Abstract]
Effect of accounting changes on cash flow amount increase in operating activities				$ 13,200
Effect of accounting changes on cash flow amount decrease in financing activities				$ 13,200
ASU 2016-16 [Member]
New Accounting Pronouncements and Changes in Accounting Principles [Abstract]
Effect of accounting changes decrease in other noncurrent assets			$ 1,300
Effect of accounting changes decrease in deferred tax liabilities			2,100
Effect of accounting changes decrease in accumulated deficit	$ 764		$ 764

Acquisitions and Dispositions -

Acquisitions and Dispositions - Media General - Additional Information (Details)	Jul. 21, 2017USD ($)	Jan. 17, 2017USD ($)TelevisionStationMarket$ / shares	Jun. 30, 2017USD ($)Market$ / shares	Jun. 30, 2016USD ($)	Jun. 30, 2017USD ($)Market$ / shares	Jun. 30, 2017USD ($)Market$ / shares	Jun. 30, 2016USD ($)	Dec. 31, 2016$ / shares
Business Acquisition [Line Items]
Number of markets in which the Company's stations broadcast | Market			100		100	100
Number of full power television stations whose assets are sold | TelevisionStation		12
Number of markets in which full power television power stations are sold | Market		12
Estimated net proceeds from spectrum auction asset			$ 459,004,000		$ 459,004,000	$ 459,004,000
Gain (Loss) on sale of business						57,716,000
Consolidation of remaining assets in non-controlling interests						7,600,000
Revenue included in consolidated statements of operations			626,115,000	$ 261,994,000		1,166,432,000	$ 517,652,000
Operating income (loss)			$ 138,685,000	64,007,000		$ 248,836,000	121,936,000
5.875% Senior Notes Due 2022 [Member]
Business Acquisition [Line Items]
Long-term debt		$ 400,000,000
Interest rate		5.875%	5.875%		5.875%	5.875%
Maturity year		2,022
Term Loan A [Member]
Business Acquisition [Line Items]
Long-term debt		$ 24,800,000
Network Affiliation Agreements [Member]
Business Acquisition [Line Items]
Network affiliation agreements useful life						15 years		15 years
Class A Common Stock [Member]
Business Acquisition [Line Items]
Common stock, par value | $ / shares			$ 0.01		$ 0.01	$ 0.01		$ 0.01
Media General Divestitures [Member]
Business Acquisition [Line Items]
Number of full power television stations whose assets are sold | TelevisionStation		7
Number of markets in which full power television power stations are sold | Market		7
Selling price of entities sold		$ 427,600,000
Gain (Loss) on sale of business		$ (4,700,000)
Nexstar Divestitures [Member]
Business Acquisition [Line Items]
Number of full power television stations whose assets are sold | TelevisionStation		5
Selling price of entities sold		$ 114,400,000
Gain (Loss) on sale of business		$ 62,400,000
Media General [Member]
Business Acquisition [Line Items]
Merger effective date		Jan. 17, 2017
Number of full power television stations owned, operated or serviced | TelevisionStation		78
Number of markets in which the Company's stations broadcast | Market		48
Outstanding equity acquired, price per share | $ / shares		$ 10.55
Estimated net proceeds from spectrum auction asset			$ 459,000,000		$ 459,000,000	$ 459,000,000
Estimated fair value of contingent value rights			275,400,000		275,400,000	275,400,000
Carryover of tax basis in goodwill, deductible for tax purposes		$ 159,000,000
Carryover of tax basis in property and equipment, deductible for tax purposes		247,800,000
Long-term debt		434,270,000
Increase in spectrum auction asset due to change in estimate of net proceeds from disposition		17,400,000
Decrease in accounts receivable due to changes in estimate of collectability of accounts receivable		22,300,000
Increase in goodwill due to changes in estimate of fair value assumptions		24,300,000
Decrease in deferred tax liabilities due to changes in estimate of fair value assumptions		4,000,000
Revenue included in consolidated statements of operations					652,500,000
Operating income (loss)					$ 100,300,000
Acquisition related costs			$ 2,500,000	$ 1,900,000		$ 50,100,000	$ 6,300,000
Media General [Member] | Consolidated VIEs [Member]
Business Acquisition [Line Items]
Consolidation of remaining assets in non-controlling interests		7,600,000
Media General [Member] | FCC licenses [Member]
Business Acquisition [Line Items]
Carryover of tax basis in intangible assets, deductible for tax purposes		294,300,000
Measurement period adjustments, increase (decrease) in acquired intangible assets		$ (191,600,000)
Media General [Member] | Network Affiliation Agreements [Member]
Business Acquisition [Line Items]
Network affiliation agreements useful life		15 years
Carryover of tax basis in intangible assets, deductible for tax purposes		$ 31,700,000
Measurement period adjustments, increase (decrease) in acquired intangible assets		$ 174,600,000
Media General [Member] | Other definite-lived intangible assets [Member]
Business Acquisition [Line Items]
Weighted average estimated useful life of other intangible assets		18 years
Carryover of tax basis in intangible assets, deductible for tax purposes		$ 40,400,000
Measurement period adjustments, increase (decrease) in acquired intangible assets		$ 4,200,000
Media General [Member] | Subsequent Event [Member]
Business Acquisition [Line Items]
Proceeds from disposition	$ 479,000,000
Media General [Member] | Class A Common Stock [Member]
Business Acquisition [Line Items]
Percentage of shares issued for each share outstanding		12.49%
Common stock, par value | $ / shares		$ 0.01

Acquisitions and Dispositions36

Acquisitions and Dispositions - Components of Total Consideration Paid, Payable or Issued in Connection with Merger (Details) - Media General [Member] $ in Thousands	Jan. 17, 2017USD ($)
Business Acquisition [Line Items]
Cash Consideration	$ 1,376,108
Nexstar Common Stock issued (15,670,094 shares)	995,835
Reissued Nexstar Common Stock from treasury (560,316 shares)	35,608
Stock option replacement awards (228,438 options)	10,702
Repayment of Media General debt, including premium and accrued interest	1,658,135
Contingent consideration liability (CVR)	275,352
Total Consideration	$ 4,351,740

Acquisitions and Dispositions37

Acquisitions and Dispositions - Components of Total Consideration Paid, Payable or Issued in Connection with Merger (Parenthetical) (Details) - Media General [Member]	Jan. 17, 2017shares
Business Acquisition [Line Items]
Common stock, shares issued in business acquisition	15,670,094
Stock issued during period, shares, treasury stock Reissued	560,316
Stock option replacement awards, number of stock options	228,438

Acquisitions and Dispositions38

Acquisitions and Dispositions - Fair Values of Assets Acquired and Liabilities Assumed (Details) - USD ($) $ in Thousands	Mar. 31, 2017	Jan. 17, 2017	Jan. 04, 2016	Jan. 31, 2017	Jun. 30, 2017	Dec. 31, 2016	Aug. 02, 2016
Business Acquisition [Line Items]
Goodwill					$ 2,145,868	$ 473,304
Consolidated VIEs [Member]
Business Acquisition [Line Items]
Goodwill					$ 177,666	$ 98,107
Media General [Member]
Business Acquisition [Line Items]
Cash and cash equivalents		$ 63,850
Accounts receivable		302,670
Spectrum auction asset		459,004
Prepaid expenses and other current assets		21,953
Property and equipment		483,785
FCC licenses		1,306,550
Goodwill		1,692,602
Other noncurrent assets		50,949
Total assets acquired and consolidated		5,755,010
Less: Accounts payable and accrued expenses		(189,466)
Less: Taxes payable		(17,344)
Less: Interest payable		(12,794)
Less: Debt		(434,270)
Less: Deferred tax liabilities		(946,402)
Less: Other noncurrent liabilities		(227,702)
Less: Noncontrolling interests in consolidated VIEs		(7,600)
Net assets acquired and consolidated		3,919,432
Total paid at first closing		1,376,108
Media General [Member] | Network Affiliation Agreements [Member]
Business Acquisition [Line Items]
Finite-lived intangible assets		1,243,300
Media General [Member] | Other definite-lived intangible assets [Member]
Business Acquisition [Line Items]
Finite-lived intangible assets		$ 130,347
WVMH [Member]
Business Acquisition [Line Items]
Accounts receivable			$ 438
Prepaid expenses and other current assets			114
Property and equipment			18,362
Goodwill			35
Total assets acquired and consolidated			22,351
Less: Accounts payable and accrued expenses			(623)
Less: Other noncurrent liabilities			(307)
Net assets acquired and consolidated			21,421
Deposit on second closing			43,543
Total paid at first closing			64,964	$ 66,900
WVMH [Member] | Consolidated VIEs [Member]
Business Acquisition [Line Items]
Broadcast rights							$ 527
Property and equipment							3,489
FCC licenses							41,230
Goodwill							28,588
Total assets acquired and consolidated							109,221
Less: Broadcast rights payable							(527)
Net assets acquired and consolidated							108,694
WVMH [Member] | Network Affiliation Agreements [Member] | Consolidated VIEs [Member]
Business Acquisition [Line Items]
Finite-lived intangible assets							$ 35,387
WVMH [Member] | Other definite-lived intangible assets [Member]
Business Acquisition [Line Items]
Finite-lived intangible assets			$ 3,402
Parker [Member]
Business Acquisition [Line Items]
FCC licenses	$ 1,539
Goodwill	698
Total assets acquired and consolidated	4,000
Total paid at first closing	800
Parker [Member] | Network Affiliation Agreements [Member]
Business Acquisition [Line Items]
Finite-lived intangible assets	1,743
Parker [Member] | Other definite-lived intangible assets [Member]
Business Acquisition [Line Items]
Finite-lived intangible assets	$ 20

Acquisitions and Dispositions39

Acquisitions and Dispositions - WVMH - Additional Information (Details)	Aug. 02, 2016	Jan. 04, 2016USD ($)	Nov. 16, 2015USD ($)TelevisionStation	Jan. 31, 2017USD ($)	Jun. 30, 2017USD ($)	Jun. 30, 2016USD ($)	Jun. 30, 2017USD ($)	Jun. 30, 2016USD ($)
Business Acquisition [Line Items]
Consolidation of remaining assets in non-controlling interests							$ 108,694,000
Revenue included in consolidated statements of operations					$ 626,115,000	$ 261,994,000	1,166,432,000	$ 517,652,000
Operating income (loss)					$ 138,685,000	$ 64,007,000	248,836,000	121,936,000
WVMH [Member]
Business Acquisition [Line Items]
Purchase price of entities to be acquired			$ 130,000,000
Cash paid in business acquisition		$ 64,964,000		$ 66,900,000
Deposits and payments for acquisitions			$ 6,500,000
Decrease in deposit for acquisition				43,500,000
Consolidation of remaining assets in non-controlling interests				$ 108,700,000
Revenue included in consolidated statements of operations							25,000,000
Operating income (loss)							5,300,000
Acquisition related costs							$ 0	$ 100,000
WVMH [Member] | Consolidated VIEs [Member]
Business Acquisition [Line Items]
Network affiliation agreements useful life	15 years
WVMH [Member] | Other definite-lived intangible assets [Member]
Business Acquisition [Line Items]
Weighted average estimated useful life of other intangible assets		3 years
WVMH [Member] | CBS Affiliation [Member]
Business Acquisition [Line Items]
Number of television stations to be acquired | TelevisionStation			3
WVMH [Member] | NBC Affiliation [Member]
Business Acquisition [Line Items]
Number of television stations to be acquired | TelevisionStation			1

Acquisitions and Dispositions40

Acquisitions and Dispositions - Parker - Additional Information (Details) - USD ($) $ in Millions	Mar. 31, 2017	Jun. 13, 2014	May 27, 2014
KFQX [Member]
Business Acquisition [Line Items]
Purchase price of entities to be acquired			$ 4
Deposits and payments for acquisitions		$ 3.2
Parker [Member]
Business Acquisition [Line Items]
Cash paid in business acquisition	$ 0.8
Network affiliation agreements useful life			15 years

Acquisitions and Dispositions41

Acquisitions and Dispositions - Unaudited Pro Forma Information (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2017	Jun. 30, 2016
Business Combinations [Abstract]
Net revenue	$ 626,039	$ 591,663	$ 1,218,806	$ 1,157,207
Income before income taxes	85,162	72,242	120,622	11,651
Net income	51,098	42,260	78,013	29,748
Net income attributable to Nexstar	$ 46,635	$ 41,260	$ 74,655	$ 27,724
Net income per common share attributable to Nexstar - basic	$ 0.99	$ 0.88	$ 1.59	$ 0.59
Net income per common share attributable to Nexstar - diluted	$ 0.97	$ 0.86	$ 1.55	$ 0.58

Intangible Assets and Goodwil42

Intangible Assets and Goodwill - Intangible Assets Subject to Amortization (Details) - USD ($) $ in Thousands	6 Months Ended	12 Months Ended
	Jun. 30, 2017	Dec. 31, 2016
Finite-Lived Intangible Assets [Line Items]
Gross	$ 2,107,406	$ 748,458
Accumulated Amortization	(501,381)	(423,721)
Net	$ 1,606,025	$ 324,737
Network affiliation agreements [Member]
Finite-Lived Intangible Assets [Line Items]
Estimated useful life, in years	15 years	15 years
Gross	$ 1,888,753	$ 659,054
Accumulated Amortization	(401,252)	(357,704)
Net	1,487,501	301,350
Other definite-lived intangible assets [Member]
Finite-Lived Intangible Assets [Line Items]
Gross	218,653	89,404
Accumulated Amortization	(100,129)	(66,017)
Net	$ 118,524	$ 23,387
Other definite-lived intangible assets [Member] | Minimum [Member]
Finite-Lived Intangible Assets [Line Items]
Estimated useful life, in years	1 year	1 year
Other definite-lived intangible assets [Member] | Maximum [Member]
Finite-Lived Intangible Assets [Line Items]
Estimated useful life, in years	15 years	15 years

Intangible Assets and Goodwil43

Intangible Assets and Goodwill - Estimated Amortization Expense of Definite-Lived Intangibles Assets (Details) - USD ($) $ in Thousands	Jun. 30, 2017	Dec. 31, 2016
Finite Lived Intangible Assets Future Amortization Expense Current And Five Succeeding Fiscal Years [Abstract]
Remainder of 2017	$ 67,798
2,018	130,593
2,019	126,919
2,020	116,696
2,021	112,383
2,022	109,295
Thereafter	942,341
Net	$ 1,606,025	$ 324,737

Intangible Assets and Goodwil44

Intangible Assets and Goodwill - Goodwill and FCC Licenses (Details) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2017	Dec. 31, 2016
Goodwill [Roll Forward]
Goodwill, Gross	$ 2,204,260	$ 534,557
Goodwill, Accumulated Impairment	(58,392)	(61,253)
Goodwill, Net	2,145,868	473,304
Goodwill Acquisitions, Gross	1,693,224
Goodwill Acquisitions and Consolidations of VIEs, Net	1,693,224
Goodwill Nexstar Divestitures, Gross	(22,823)
Goodwill Nexstar Divestitures, Accumulated Impairment	2,861
Goodwill Nexstar Divestitures, Net	(19,962)
Goodwill Deconsolidations of a VIEs, Gross	(698)
Goodwill Deconsolidations of a VIEs, Net	(698)
FCC Licenses [Abstract]
FCC Licenses, Gross	1,878,751	591,945
FCC Licenses, Accumulated Impairment	(47,410)	(49,421)
FCC Licenses, Net	1,831,341	$ 542,524
FCC Licenses Acquisitions, Gross	1,308,089
FCC Licenses Acquisitions and Consolidations of VIEs, Net	1,308,089
FCC Licenses Deconsolidations of a VIEs, Gross	(1,539)
FCC Licenses Deconsolidations of a VIEs, Net	(1,539)
FCC Licenses Divestitures, Gross	(19,744)
FCC Licenses Nexstar Divestitures, Accumulated Impairment	2,011
FCC Licenses Nexstar Divestitures, Net	$ (17,733)

Accrued Expenses - Accrued Expe

Accrued Expenses - Accrued Expenses (Details) - USD ($) $ in Thousands	Jun. 30, 2017	Dec. 31, 2016
Payables And Accruals [Abstract]
Compensation and related taxes	$ 39,452	$ 20,713
Network affiliation fees	89,484	30,153
Other	71,383	20,449
Accrued expenses	$ 200,319	$ 71,315

Retirement and Postretirement46

Retirement and Postretirement Plans - Additional Information (Details) - USD ($)	Jan. 17, 2017	Jun. 30, 2017
Defined Benefit Plan Disclosure [Line Items]
Benefit obligation of retirement plans	$ 502,000,000
Fair value of plan assets	394,000,000
Contributions to qualified retirement plan by Company		$ 0
Maximum [Member]
Defined Benefit Plan Disclosure [Line Items]
Defined benefit plan, expected contributions		$ 4,000,000
Retirement Plans [Member]
Defined Benefit Plan Disclosure [Line Items]
Pension liability assumed by buyer from funded, qualified retirement plan	60,000,000
Defined benefit plans liability	108,000,000
Postretirement Plans [Member]
Defined Benefit Plan Disclosure [Line Items]
Defined benefit plans liability	$ 23,000,000

Retirement and Postretirement47

Retirement and Postretirement Plans - Summary of Components of Net Periodic Benefit Cost (Income) (Details) - USD ($) $ in Thousands	3 Months Ended	6 Months Ended
	Jun. 30, 2017	Jun. 30, 2017
Pension Benefits [Member]
Defined Benefit Plan Disclosure [Line Items]
Interest cost	$ 3,913	$ 7,174
Expected return on plan assets	(7,226)	(13,248)
Net periodic benefit (income) cost	(3,313)	(6,074)
Other Benefits [Member]
Defined Benefit Plan Disclosure [Line Items]
Interest cost	157	287
Net periodic benefit (income) cost	$ 157	$ 287

Debt - Long Term Debt (Details)

Debt - Long Term Debt (Details) - USD ($) $ in Thousands	Jun. 30, 2017	Dec. 31, 2016
Long term Debt [Abstract]
Debt	$ 4,435,530	$ 2,342,419
Less: current portion	(57,860)	(28,093)
Debt, noncurrent	4,377,670	2,314,326
Notes Payable to Banks [Member] | Term Loans [Member]
Long term Debt [Abstract]
Debt	2,865,003	662,206
Revolving loans [Member]
Long term Debt [Abstract]
Debt	3,000	2,000
Senior Subordinated Notes [Member] | 6.875 % Due 2020 [Member]
Long term Debt [Abstract]
Debt		520,705
Senior Subordinated Notes [Member] | 6.125% Due 2022 [Member]
Long term Debt [Abstract]
Debt	272,800	272,598
Senior Subordinated Notes [Member] | 5.875% Due 2022 [Member]
Long term Debt [Abstract]
Debt	409,081
Senior Subordinated Notes [Member] | 5.625 % Due 2024 [Member]
Long term Debt [Abstract]
Debt	$ 885,646	$ 884,910

Debt - Long Term Debt (Parenthe

Debt - Long Term Debt (Parenthetical) (Details) - USD ($) $ in Thousands	Jun. 30, 2017	Feb. 27, 2017	Jan. 17, 2017	Dec. 31, 2016	Jul. 27, 2016
6.875 % Due 2020 [Member]
Long term Debt [Abstract]
Interest rate		6.875%
6.125% Due 2022 [Member]
Long term Debt [Abstract]
Interest rate	6.125%
5.875% Due 2022 [Member]
Long term Debt [Abstract]
Interest rate	5.875%		5.875%
5.625 % Due 2024 [Member]
Long term Debt [Abstract]
Interest rate	5.625%
Notes Payable to Banks [Member] | Term Loans [Member]
Long term Debt [Abstract]
Debt financing costs and discount	$ 59,997			$ 6,592
Senior Subordinated Notes [Member] | 6.875 % Due 2020 [Member]
Long term Debt [Abstract]
Debt financing costs and discount				$ 4,295
Interest rate	6.875%			6.875%
Senior Subordinated Notes [Member] | 6.125% Due 2022 [Member]
Long term Debt [Abstract]
Debt financing costs and discount	$ 2,200			$ 2,402
Interest rate	6.125%			6.125%
Senior Subordinated Notes [Member] | 5.875% Due 2022 [Member]
Long term Debt [Abstract]
Debt financing costs and discount	$ 9,081
Interest rate	5.875%			5.875%
Senior Subordinated Notes [Member] | 5.625 % Due 2024 [Member]
Long term Debt [Abstract]
Debt financing costs and discount	$ 14,354			$ 15,090
Interest rate	5.625%		5.625%	5.625%	5.625%

Debt - Additional Information (

Debt - Additional Information (Details) - USD ($)	Feb. 27, 2017	Jan. 17, 2017	Jul. 27, 2016	Apr. 30, 2017	Jun. 30, 2017	Jun. 30, 2017	Jun. 30, 2016	Jan. 31, 2017	Dec. 31, 2016
Debt Instrument [Line Items]
Debt					$ 4,435,530,000	$ 4,435,530,000			$ 2,342,419,000
Repayment of debt						1,390,798,000	$ 48,076,000
Loss on extinguishment of debt					1,323,000	$ 33,127,000
Media General [Member]
Debt Instrument [Line Items]
Long-term debt		$ 434,270,000
Cash Consideration		1,376,108,000
Repayments of debt, including premium and accrued interest		$ 1,658,135,000
Senior Secured Credit Facility [Member]
Debt Instrument [Line Items]
Credit facilities, amendment effective date						Jul. 19, 2017
Maximum consolidated first lien net leverage ratio						4.50 to 1.00
New Senior Secured Term Loan B Due January 17, 2024 [Member]
Debt Instrument [Line Items]
Maturity date		Jan. 17, 2024
Debt instrument principal amount		$ 2,750,000,000
Debt instrument, issued price percentage		99.49%
Frequency of periodic principal payments		quarterly
Percentage of debt amount payable in consecutively quarterly installments (in hundredths)		0.25%
Debt finance costs								$ 48,300,000
Revolving loans [Member]
Debt Instrument [Line Items]
Debt					3,000,000	$ 3,000,000			$ 2,000,000
Total commitment under borrowing capacity		$ 175,000,000
Current borrowing capacity		$ 3,000,000
Credit facilities, due date of drawn amount		Jun. 28, 2018
Available borrowing capacity		$ 172,000,000			172,000,000	172,000,000
Unused credit facilities, maturity date		Jan. 17, 2022
Repayment of debt		$ 2,000,000
Loss on extinguishment of debt		300,000
5.875% Due 2022 [Member]
Debt Instrument [Line Items]
Long-term debt		$ 400,000,000			$ 400,000,000	$ 400,000,000
Interest rate		5.875%			5.875%	5.875%
Maturity year		2,022				2,022
5.875% Due 2022 [Member] | Senior Subordinated Notes [Member]
Debt Instrument [Line Items]
Interest rate					5.875%	5.875%			5.875%
Debt					$ 409,081,000	$ 409,081,000
Maturity date						Nov. 15, 2022
Frequency of periodic interest payments						semiannually
Ownership percentage in subsidiary					100.00%	100.00%
Redemption price as percentage of debt principal amount that can be redeemed at any time prior to a specified date					100.00%	100.00%
Redemption price as a percentage of debt principal that can be redeemed through equity offerings					105.875%	105.875%
Redemption price of a debt as percentage of par value upon occurrence of change of control. (in hundredths)					101.00%	101.00%
Minimum debt holders that may declare debt due and payable upon default					25.00%	25.00%
5.875% Due 2022 [Member] | Senior Subordinated Notes [Member] | Minimum [Member]
Debt Instrument [Line Items]
Minimum outstanding balance after debts redeemed through equity offerings					$ 200,000,000	$ 200,000,000
5.875% Due 2022 [Member] | Senior Subordinated Notes [Member] | Maximum [Member]
Debt Instrument [Line Items]
Number of days to redeem debt through equity offerings						90 days
Term Loan A [Member]
Debt Instrument [Line Items]
Long-term debt		$ 24,800,000
Maturity date		Jan. 17, 2022
Minimum percentage of debt amount to be repaid in quarterly installments		1.25%
Maximum percentage of debt amount to be repaid in quarterly installments		2.50%
Repayment of debt				$ 25,000,000
Loss on extinguishment of debt				$ 400,000
Term Loan A [Member] | Senior Secured Credit Facility [Member]
Debt Instrument [Line Items]
Debt					$ 24,800,000	$ 24,800,000
New Senior Secured Term Loan A Due June 28, 2018 [Member]
Debt Instrument [Line Items]
Maturity date		Jun. 28, 2018
Minimum percentage of debt amount to be repaid in quarterly installments		1.25%
Maximum percentage of debt amount to be repaid in quarterly installments		2.50%
Debt instrument principal amount		$ 51,300,000
Debt instrument, issued price percentage		99.25%
Frequency of periodic principal payments		quarterly
New Senior Secured Term Loan A Due January 17, 2022 [Member]
Debt Instrument [Line Items]
Maturity date		Jan. 17, 2022
Minimum percentage of debt amount to be repaid in quarterly installments		1.25%
Maximum percentage of debt amount to be repaid in quarterly installments		2.50%
Debt instrument principal amount		$ 293,900,000
Debt instrument, issued price percentage		99.34%
Frequency of periodic principal payments		quarterly
Senior Secured Term Loans A [Member]
Debt Instrument [Line Items]
Debt finance costs								$ 3,200,000
5.625 % Due 2024 [Member]
Debt Instrument [Line Items]
Interest rate					5.625%	5.625%
5.625 % Due 2024 [Member] | Senior Subordinated Notes [Member]
Debt Instrument [Line Items]
Interest rate		5.625%	5.625%		5.625%	5.625%			5.625%
Maturity year			2,024
Debt					$ 885,646,000	$ 885,646,000			$ 884,910,000
Maturity date			Aug. 1, 2024
Debt instrument principal amount			$ 900,000,000
Debt finance costs									$ 15,700,000
Proceeds from previously issued of debt instrument		$ 900,000,000
Frequency of periodic interest payments						semiannually
Ownership percentage in subsidiary			100.00%
Redemption price as percentage of debt principal amount that can be redeemed at any time prior to a specified date					100.00%	100.00%
Aggregate principal amount of debt that can be redeemed through equity offerings					40.00%	40.00%
Redemption price as a percentage of debt principal that can be redeemed through equity offerings					105.625%	105.625%
Redemption price of a debt as percentage of par value upon occurrence of change of control. (in hundredths)					101.00%	101.00%
Minimum debt holders that may declare debt due and payable upon default					25.00%	25.00%
Term Loans [Member]
Debt Instrument [Line Items]
Repayment of debt		668,800,000
Loss on extinguishment of debt		$ 6,500,000
6.875 % Due 2020 [Member]
Debt Instrument [Line Items]
Interest rate	6.875%
Loss on extinguishment of debt	$ 22,200,000
Debt instrument, principle amount redeemed	$ 525,000,000
Debt instrument, redemption price, percentage of principal amount redeemed	103.438%
6.875 % Due 2020 [Member] | Senior Subordinated Notes [Member]
Debt Instrument [Line Items]
Interest rate					6.875%	6.875%			6.875%
Debt									$ 520,705,000
Term Loans B [Member]
Debt Instrument [Line Items]
Repayment of debt						$ 170,000,000
Loss on extinguishment of debt						$ 3,700,000

Debt - Fair Value of Debt (Deta

Debt - Fair Value of Debt (Details) - USD ($) $ in Thousands		Jun. 30, 2017	Dec. 31, 2016
Notes Payable to Banks [Member] | Term Loans [Member] | Carrying Amount [Member] | Level 3 [Member]
Fair Value of debt [Line Items]
Carrying Amount and Fair Value of Debt	[1]	$ 2,865,003	$ 662,206
Notes Payable to Banks [Member] | Term Loans [Member] | Fair Value [Member] | Level 3 [Member]
Fair Value of debt [Line Items]
Carrying Amount and Fair Value of Debt	[1]	2,987,990	665,750
Revolving loans [Member] | Carrying Amount [Member] | Level 3 [Member]
Fair Value of debt [Line Items]
Carrying Amount and Fair Value of Debt	[1]	3,000	2,000
Revolving loans [Member] | Fair Value [Member] | Level 3 [Member]
Fair Value of debt [Line Items]
Carrying Amount and Fair Value of Debt	[1]	2,979	1,969
Senior Subordinated Notes [Member] | 6.875 % Due 2020 [Member] | Carrying Amount [Member] | Level 2 [Member]
Fair Value of debt [Line Items]
Carrying Amount and Fair Value of Debt	[2]		520,705
Senior Subordinated Notes [Member] | 6.875 % Due 2020 [Member] | Fair Value [Member] | Level 2 [Member]
Fair Value of debt [Line Items]
Carrying Amount and Fair Value of Debt	[2]		543,375
Senior Subordinated Notes [Member] | 6.125% Due 2022 [Member] | Carrying Amount [Member] | Level 2 [Member]
Fair Value of debt [Line Items]
Carrying Amount and Fair Value of Debt	[2]	272,800	272,598
Senior Subordinated Notes [Member] | 6.125% Due 2022 [Member] | Fair Value [Member] | Level 2 [Member]
Fair Value of debt [Line Items]
Carrying Amount and Fair Value of Debt	[2]	287,719	284,625
Senior Subordinated Notes [Member] | 5.875% Senior Notes Due 2022 [Member] | Carrying Amount [Member] | Level 2 [Member]
Fair Value of debt [Line Items]
Carrying Amount and Fair Value of Debt	[2]	409,081
Senior Subordinated Notes [Member] | 5.875% Senior Notes Due 2022 [Member] | Fair Value [Member] | Level 2 [Member]
Fair Value of debt [Line Items]
Carrying Amount and Fair Value of Debt	[2]	419,000
Senior Subordinated Notes [Member] | 5.625 % Due 2024 [Member] | Carrying Amount [Member] | Level 2 [Member]
Fair Value of debt [Line Items]
Carrying Amount and Fair Value of Debt	[2]	885,646	884,512
Senior Subordinated Notes [Member] | 5.625 % Due 2024 [Member] | Fair Value [Member] | Level 2 [Member]
Fair Value of debt [Line Items]
Carrying Amount and Fair Value of Debt	[2]	$ 904,500	$ 893,250
[1]	The fair value of senior secured credit facilities is computed based on borrowing rates currently available to the Company for bank loans with similar terms and average maturities. These fair value measurements are considered Level 3, as significant inputs to the fair value calculation are unobservable in the market.
[2]	The fair value of the Company’s fixed rate debt is estimated based on bid prices obtained from an investment banking firm that regularly makes a market for these financial instruments. These fair value measurements are considered Level 2, as quoted market prices are available for low volume trading of these securities.

Common Stock - Additional Infor

Common Stock - Additional Information (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2017	Mar. 31, 2017	Jun. 30, 2017	Jun. 12, 2017	Aug. 31, 2015
Class Of Stock [Line Items]
Purchase of treasury stock, shares		0
Purchase of treasury stock			$ 58,294
Class A Common Stock [Member]
Class Of Stock [Line Items]
Authorization of share repurchase				$ 100,000	$ 100,000
Purchase of treasury stock, shares	1,001,640
Purchase of treasury stock	$ 58,300

Stock-Based Compensation Plans

Stock-Based Compensation Plans - Additional Information (Details) - USD ($) $ in Millions	3 Months Ended	6 Months Ended
	Jun. 30, 2017	Jun. 30, 2017
Restricted stock units [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Restricted stock award granted	110,000	1,037,500
Estimated fair value of RSU	$ 7.2	$ 66.7
Stock Options [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Stock options vested		228,438
Estimated fair value of stock options		$ 10.7

Income Taxes - Additional Infor

Income Taxes - Additional Information (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2017	Jun. 30, 2016
Income Tax [Line Items]
Income tax expense	$ 32,322	$ 18,484	$ 26,381	$ 33,349
Effective income tax rates	40.00%	42.70%	33.10%	41.50%
Income tax benefits resulting on uncertain tax position	$ 1,600		$ 1,600
Decrease to effective tax rate	2.00%		2.00%
Income tax benefits resulting on non taxable transactions	$ 1,200
Decrease to effective tax rate due to non taxable transactions	1.40%
Income tax expense resulting on offset differences	$ 2,500
Increase to effective tax rate due to off set differences	2.50%
Increase to effective tax rate due to change in contingent consideration fair value	1.40%
Income tax benefit related to divested stations			$ 7,700
Decrease to effective tax rate related to divested stations			9.60%
ASU No. 2016-09 [Member]
Income Tax [Line Items]
Income tax benefit related to stock option exercises and the vesting of restricted stock units			$ 1,100
Decrease to effective rate related to stock option exercises and the vesting of restricted stock units			1.30%
Media General [Member]
Income Tax [Line Items]
Income tax expense related to nondeductible expenses			$ 1,700
Increase to effective tax rate related to nondeductible expenses			(2.10%)
Income tax expense related to blended state tax rate			$ 1,500
Decrease to effective tax rate related to blended state tax rate			1.90%

FCC Regulatory Matters - Additi

FCC Regulatory Matters - Additional Information (Details)	Jul. 14, 2017USD ($)	Apr. 13, 2017TelevisionStation	Jun. 30, 2017USD ($)TelevisionStation
FCC Regulatory Matters [Line Items]
Maximum percentage of US television household reach			39.00%
Percentage reach of ultra high frequency station			50.00%
Date of abolishing the UHF discount			Aug. 24, 2016
Number of stations owned		11
Number of stations, channels share with another station		8
Number of stations to move to very high frequency channels		2
Number of station will discontinue operation		1
Maximum amount allocated by Congress for reimbursement of repack costs industry-wide | $			$ 1,750,000,000
Subsequent Event [Member]
FCC Regulatory Matters [Line Items]
Excess over maximum amount allocated by Congress for reimbursement of repack costs industry-wide | $	$ 2,100,000,000
Exceed amount of reimbursement of repack costs industry-wide allocated by congress | $	$ 350,000,000
Nexstar [Member]
FCC Regulatory Matters [Line Items]
Number of stations owned		10
Number of full power stations repacked			61
VIEs [Member]
FCC Regulatory Matters [Line Items]
Number of stations owned		1
Number of full power stations repacked			17

Commitments and Contingencies -

Commitments and Contingencies - Additional Information (Details) $ in Millions	6 Months Ended
	Jun. 30, 2017USD ($)
Financial Guarantee of Mission Debt [Member]
Guarantees of Mission, Marshall and Shield Debt [Abstract]
Maximum commitment under senior secured credit facility	$ 229.8
Commitment under senior secured credit facility at carrying value	226.8
Financial Guarantee of Marshall Debt [Member]
Guarantees of Mission, Marshall and Shield Debt [Abstract]
Commitment under senior secured credit facility at carrying value	$ 53.5
Debt due	2018-06
Financial Guarantee of Shield Debt [Member]
Guarantees of Mission, Marshall and Shield Debt [Abstract]
Commitment under senior secured credit facility at carrying value	$ 24.3

Segment Data - Summary of Segme

Segment Data - Summary of Segment Financial Information (Details) - USD ($) $ in Thousands		3 Months Ended		6 Months Ended
		Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2017	Jun. 30, 2016	Dec. 31, 2016
Segment Reporting Information [Line Items]
Net revenue		$ 626,115	$ 261,994	$ 1,166,432	$ 517,652
Depreciation		26,292	12,739	48,518	25,297
Amortization of intangible assets		38,557	11,319	86,715	23,398
Income (loss) from operations		138,685	64,007	248,836	121,936
Goodwill		2,145,868		2,145,868		$ 473,304
Assets	[1]	7,469,617		7,469,617		2,966,085
Broadcasting [Member]
Segment Reporting Information [Line Items]
Net revenue		594,489	246,404	1,105,656	487,492
Depreciation		24,702	11,172	41,644	22,159
Amortization of intangible assets		33,274	7,952	79,207	16,663
Income (loss) from operations		170,337	82,054	360,045	158,982
Goodwill		2,005,396		2,005,396		449,682
Assets		6,615,960		6,615,960		1,811,042
Corporate and Other [Member]
Segment Reporting Information [Line Items]
Net revenue		31,626	15,590	60,776	30,160
Depreciation		1,590	1,567	6,874	3,138
Amortization of intangible assets		5,283	3,367	7,508	6,735
Income (loss) from operations		(31,652)	$ (18,047)	(111,209)	$ (37,046)
Goodwill		140,472		140,472		23,622
Assets		$ 853,657		$ 853,657		$ 1,155,043
[1]	The consolidated total assets as of June 30, 2017 and December 31, 2016 include certain assets held by consolidated VIEs of $470.8 million and $226.2 million, respectively, which are not available to be used to settle the obligations of Nexstar. The consolidated total liabilities as of June 30, 2017 and December 31, 2016 include certain liabilities of consolidated VIEs of $61.4 million and $39.2 million, respectively, for which the creditors of the VIEs have no recourse to the general credit of Nexstar. See Note 2 for additional information.

Condensed Consolidating Finan58

Condensed Consolidating Financial Information - Additional Information (Details)	Jun. 30, 2017	Jan. 17, 2017
5.625 % Due 2024 [Member]
Condensed Financial Statements Captions [Line Items]
Interest rate	5.625%
6.125% Due 2022 [Member]
Condensed Financial Statements Captions [Line Items]
Interest rate	6.125%
5.875% Senior Notes Due 2022 [Member]
Condensed Financial Statements Captions [Line Items]
Interest rate	5.875%	5.875%

Condensed Consolidating Finan59

Condensed Consolidating Financial Information - Condensed Consolidated Balance Sheets (Details) - USD ($) $ in Thousands		Jun. 30, 2017	Dec. 31, 2016	Jun. 30, 2016	Dec. 31, 2015
Current assets:
Cash and cash equivalents		$ 85,902	$ 87,680	$ 27,182	$ 43,416
Accounts receivable, net		503,119	218,058
Spectrum auction asset		459,004
Other current assets		30,490	57,479
Total current assets		1,078,515	363,217
Property and equipment, net		738,727	276,153
Goodwill		2,145,868	473,304
FCC licenses		1,831,341	542,524
Other intangible assets, net		1,606,025	324,737
Restricted cash			901,080
Other noncurrent assets		69,141	85,070
Total assets	[1]	7,469,617	2,966,085
Current liabilities:
Current portion of debt		57,860	28,093
Accounts payable		27,932	19,754
Other current liabilities		708,656	141,731
Total current liabilities		794,448	189,578
Debt		4,377,670	2,314,326
Deferred tax liabilities		886,644	132,008
Other noncurrent liabilities		207,309	45,819
Total liabilities	[1]	6,266,071	2,681,731
Total Nexstar Media Group, Inc. stockholders' equity (deficit)		1,190,312	169,141
Noncontrolling interests in consolidated variable interest entities		13,234	115,213
Total liabilities and stockholders' equity		7,469,617	2,966,085
Eliminations [Member]
Current assets:
Amounts due from consolidated entities		(306,235)	(86,438)
Total current assets		(306,235)	(86,438)
Investments in subsidiaries		(309,442)	(294,650)
Amounts due from consolidated entities		(1,021,003)	(66,170)
Property and equipment, net		(75)	(75)
Total assets		(1,636,755)	(447,333)
Current liabilities:
Amounts due to consolidated entities		(306,235)	(86,438)
Total current liabilities		(306,235)	(86,438)
Amounts due to consolidated entities		(1,021,213)	(66,380)
Total liabilities		(1,327,448)	(152,818)
Total Nexstar Media Group, Inc. stockholders' equity (deficit)		(309,307)	(294,515)
Total liabilities and stockholders' equity		(1,636,755)	(447,333)
Nexstar [Member] | Reportable Legal Entities [Member]
Current assets:
Investments in subsidiaries		182,349	256,391
Amounts due from consolidated entities		1,021,003
Total assets		1,203,352	256,391
Current liabilities:
Amounts due to consolidated entities			66,380
Total liabilities			66,380
Total Nexstar Media Group, Inc. stockholders' equity (deficit)		1,203,352	190,011
Total liabilities and stockholders' equity		1,203,352	256,391
Nexstar Broadcasting [Member] | Reportable Legal Entities [Member]
Current assets:
Cash and cash equivalents		67,795	75,830	16,286	27,492
Accounts receivable, net		433,461	184,921
Amounts due from consolidated entities		203,804	5,623
Spectrum auction asset		432,777
Other current assets		23,328	53,762
Total current assets		1,161,165	320,136
Investments in subsidiaries		127,093	38,259
Amounts due from consolidated entities			66,170
Property and equipment, net		700,692	244,623
Goodwill		1,827,730	380,164
FCC licenses		1,654,030	468,963
Other intangible assets, net		1,457,117	258,502
Restricted cash			901,080
Other noncurrent assets		61,427	72,070
Total assets		6,989,254	2,749,967
Current liabilities:
Current portion of debt			19,759
Accounts payable		22,918	16,234
Other current liabilities		673,636	118,049
Total current liabilities		696,554	154,042
Debt		4,130,886	2,045,827
Amounts due to consolidated entities		765,150
Deferred tax liabilities		862,812	118,155
Other noncurrent liabilities		189,836	33,959
Total liabilities		6,645,238	2,351,983
Total Nexstar Media Group, Inc. stockholders' equity (deficit)		344,016	289,290
Noncontrolling interests in consolidated variable interest entities			108,694
Total liabilities and stockholders' equity		6,989,254	2,749,967
Mission [Member] | Reportable Legal Entities [Member]
Current assets:
Cash and cash equivalents		5,909	6,478	2,190	4,367
Accounts receivable, net		12,789	12,332
Amounts due from consolidated entities		102,431	80,815
Other current assets		1,477	1,337
Total current assets		122,606	100,962
Property and equipment, net		18,571	19,564
Goodwill		33,187	33,187
FCC licenses		43,102	43,102
Other intangible assets, net		16,989	17,922
Other noncurrent assets		2,945	11,144
Total assets		237,400	225,881
Current liabilities:
Current portion of debt		2,320	2,334
Accounts payable		1,110	524
Other current liabilities		13,540	9,017
Total current liabilities		16,970	11,875
Debt		224,459	221,431
Other noncurrent liabilities		9,358	9,832
Total liabilities		250,787	243,138
Total Nexstar Media Group, Inc. stockholders' equity (deficit)		(13,387)	(21,257)
Noncontrolling interests in consolidated variable interest entities			4,000
Total liabilities and stockholders' equity		237,400	225,881
Non-Guarantors [Member] | Reportable Legal Entities [Member]
Current assets:
Cash and cash equivalents		12,198	5,372	$ 8,706	$ 11,557
Accounts receivable, net		56,869	20,805
Spectrum auction asset		26,227
Other current assets		5,685	2,380
Total current assets		100,979	28,557
Property and equipment, net		19,539	12,041
Goodwill		284,951	59,953
FCC licenses		134,209	30,459
Other intangible assets, net		131,919	48,313
Other noncurrent assets		4,769	1,856
Total assets		676,366	181,179
Current liabilities:
Current portion of debt		55,540	6,000
Accounts payable		3,904	2,996
Amounts due to consolidated entities		306,235	86,438
Other current liabilities		21,480	14,665
Total current liabilities		387,159	110,099
Debt		22,325	47,068
Amounts due to consolidated entities		256,063
Deferred tax liabilities		23,832	13,853
Other noncurrent liabilities		8,115	2,028
Total liabilities		697,494	173,048
Total Nexstar Media Group, Inc. stockholders' equity (deficit)		(34,362)	5,612
Noncontrolling interests in consolidated variable interest entities		13,234	2,519
Total liabilities and stockholders' equity		$ 676,366	$ 181,179
[1]	The consolidated total assets as of June 30, 2017 and December 31, 2016 include certain assets held by consolidated VIEs of $470.8 million and $226.2 million, respectively, which are not available to be used to settle the obligations of Nexstar. The consolidated total liabilities as of June 30, 2017 and December 31, 2016 include certain liabilities of consolidated VIEs of $61.4 million and $39.2 million, respectively, for which the creditors of the VIEs have no recourse to the general credit of Nexstar. See Note 2 for additional information.

Condensed Consolidating Finan60

Condensed Consolidating Financial Information - Condensed Consolidated Statements of Operations (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2017	Jun. 30, 2016
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS [Abstract]
Net broadcast revenue (including trade and barter)	$ 626,115	$ 261,994	$ 1,166,432	$ 517,652
Net revenue	626,115	261,994	1,166,432	517,652
Operating expenses:
Direct operating expenses, excluding depreciation and amortization	252,610	92,935	471,339	183,058
Selling, general, and administrative expenses, excluding depreciation and amortization	144,285	65,772	318,587	133,937
Amortization of broadcast rights	25,686	15,222	50,153	30,026
Amortization of intangible assets	38,557	11,319	86,715	23,398
Depreciation	26,292	12,739	48,518	25,297
Gain on disposal of stations, net			(57,716)
Total operating expenses	487,430	197,987	917,596	395,716
Income from operations	138,685	64,007	248,836	121,936
Interest expense, net	(55,685)	(20,577)	(134,922)	(41,231)
Loss on extinguishment of debt	(1,323)		(33,127)
Other (expenses) income	(900)	(147)	(1,007)	(283)
Income before income taxes	80,777	43,283	79,780	80,422
Income tax (expense) benefit	(32,322)	(18,484)	(26,381)	(33,349)
Net income (loss)	48,455	24,799	53,399	47,073
Net income attributable to noncontrolling interests	(4,463)	(270)	(3,358)	(817)
Net income attributable to Nexstar Media Group, Inc.	43,992	24,529	50,041	46,256
Eliminations [Member]
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS [Abstract]
Revenue between consolidated entities	(34,494)	(21,055)	(55,563)	(41,560)
Net revenue	(34,494)	(21,055)	(55,563)	(41,560)
Operating expenses:
Direct operating expenses, excluding depreciation and amortization	(1,026)	(63)	(1,065)	(73)
Selling, general, and administrative expenses, excluding depreciation and amortization	(7,420)	(1,187)	(9,586)	(2,305)
Local service agreement fees between consolidated entities	(26,048)	(19,805)	(44,912)	(39,182)
Total operating expenses	(34,494)	(21,055)	(55,563)	(41,560)
Equity in income of subsidiaries	(39,434)	(20,258)	(42,558)	(37,973)
Income before income taxes	(39,434)	(20,258)	(42,558)	(37,973)
Net income (loss)	(39,434)	(20,258)	(42,558)	(37,973)
Net income attributable to Nexstar Media Group, Inc.	(39,434)	(20,258)	(42,558)	(37,973)
Nexstar [Member] | Reportable Legal Entities [Member]
Operating expenses:
Equity in income of subsidiaries	39,434	20,258	42,558	37,973
Income before income taxes	39,434	20,258	42,558	37,973
Net income (loss)	39,434	20,258	42,558	37,973
Net income attributable to Nexstar Media Group, Inc.	39,434	20,258	42,558	37,973
Nexstar Broadcasting [Member] | Reportable Legal Entities [Member]
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS [Abstract]
Net broadcast revenue (including trade and barter)	544,266	221,860	1,018,412	437,436
Revenue between consolidated entities	18,656	8,567	32,726	17,172
Net revenue	562,922	230,427	1,051,138	454,608
Operating expenses:
Direct operating expenses, excluding depreciation and amortization	200,039	69,445	378,796	137,981
Selling, general, and administrative expenses, excluding depreciation and amortization	139,477	60,513	303,322	124,091
Local service agreement fees between consolidated entities	15,577	11,238	25,783	22,010
Amortization of broadcast rights	22,723	13,005	44,184	25,398
Amortization of intangible assets	33,146	6,549	74,512	13,857
Depreciation	24,120	11,236	44,190	22,420
Gain on disposal of stations, net			(57,716)
Total operating expenses	435,082	171,986	813,071	345,757
Income from operations	127,840	58,441	238,067	108,851
Interest expense, net	(51,760)	(17,871)	(127,340)	(35,811)
Loss on extinguishment of debt	(1,323)		(30,768)
Other (expenses) income	(1,331)	(147)	(1,007)	(283)
Income before income taxes	73,426	40,423	78,952	72,757
Income tax (expense) benefit	(28,850)	(16,188)	(24,989)	(29,239)
Net income (loss)	44,576	24,235	53,963	43,518
Net income attributable to Nexstar Media Group, Inc.	44,576	24,235	53,963	43,518
Mission [Member] | Reportable Legal Entities [Member]
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS [Abstract]
Net broadcast revenue (including trade and barter)	17,555	15,085	35,463	30,245
Revenue between consolidated entities	9,400	9,659	18,222	18,894
Net revenue	26,955	24,744	53,685	49,139
Operating expenses:
Direct operating expenses, excluding depreciation and amortization	8,892	7,400	17,912	14,906
Selling, general, and administrative expenses, excluding depreciation and amortization	877	861	1,850	1,783
Local service agreement fees between consolidated entities	4,500	4,500	9,000	9,000
Amortization of broadcast rights	1,414	1,389	2,812	2,781
Amortization of intangible assets	638	637	1,274	1,272
Depreciation	587	600	1,175	1,207
Total operating expenses	16,908	15,387	34,023	30,949
Income from operations	10,047	9,357	19,662	18,190
Interest expense, net	(2,556)	(2,309)	(5,206)	(4,622)
Loss on extinguishment of debt			(2,133)
Income before income taxes	7,491	7,048	12,323	13,568
Income tax (expense) benefit	(2,917)	(2,775)	(4,798)	(5,283)
Net income (loss)	4,574	4,273	7,525	8,285
Net income attributable to Nexstar Media Group, Inc.	4,574	4,273	7,525	8,285
Non-Guarantors [Member] | Reportable Legal Entities [Member]
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS [Abstract]
Net broadcast revenue (including trade and barter)	64,294	25,049	112,557	49,971
Revenue between consolidated entities	6,438	2,829	4,615	5,494
Net revenue	70,732	27,878	117,172	55,465
Operating expenses:
Direct operating expenses, excluding depreciation and amortization	44,705	16,153	75,696	30,244
Selling, general, and administrative expenses, excluding depreciation and amortization	11,351	5,585	23,001	10,368
Local service agreement fees between consolidated entities	5,971	4,067	10,129	8,172
Amortization of broadcast rights	1,549	828	3,157	1,847
Amortization of intangible assets	4,773	4,133	10,929	8,269
Depreciation	1,585	903	3,153	1,670
Total operating expenses	69,934	31,669	126,065	60,570
Income from operations	798	(3,791)	(8,893)	(5,105)
Interest expense, net	(1,369)	(397)	(2,376)	(798)
Loss on extinguishment of debt			(226)
Other (expenses) income	431
Income before income taxes	(140)	(4,188)	(11,495)	(5,903)
Income tax (expense) benefit	(555)	479	3,406	1,173
Net income (loss)	(695)	(3,709)	(8,089)	(4,730)
Net income attributable to noncontrolling interests	(4,463)	(270)	(3,358)	(817)
Net income attributable to Nexstar Media Group, Inc.	$ (5,158)	$ (3,979)	$ (11,447)	$ (5,547)

Condensed Consolidating Finan61

Condensed Consolidating Financial Information - Condensed Consolidating Statement of Cash Flows (Details) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS [Abstract]
Cash flows from operating activities	$ 137,882	$ 109,385
Cash flows from investing activities:
Purchases of property and equipment	(27,691)	(15,035)
Deposits and payments for acquisitions	(2,971,194)	(103,969)
Proceeds from sale of stations	481,944
Other investing activities	19,638	335
Net cash used in investing activities	(2,497,303)	(118,669)
Cash flows from financing activities:
Proceeds from long-term debt	3,981,861	58,000
Repayments of long-term debt	(1,390,798)	(48,076)
Premium paid on debt extinguishment	(18,050)
Payments for debt financing costs	(51,357)	(100)
Purchase of noncontrolling interests	(66,901)	(100)
Common stock dividends paid	(28,268)	(14,716)
Purchase of treasury stock	(58,294)
Other financing activities	(10,550)	(2,158)
Net cash provided by financing activities	2,357,643	(6,950)
Net decrease in cash and cash equivalents	(1,778)	(16,234)
Cash and cash equivalents at beginning of period	87,680	43,416
Cash and cash equivalents at end of period	85,902	27,182
Nexstar [Member] | Reportable Legal Entities [Member]
Cash flows from financing activities:
Common stock dividends paid	(28,268)	(14,716)
Purchase of treasury stock	(58,294)
Inter-company payments	87,291	14,503
Other financing activities	(729)	213
Nexstar Broadcasting [Member] | Reportable Legal Entities [Member]
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS [Abstract]
Cash flows from operating activities	122,635	109,517
Cash flows from investing activities:
Purchases of property and equipment	(23,525)	(13,406)
Deposits and payments for acquisitions	(2,970,394)	(103,969)
Proceeds from sale of stations	481,944
Other investing activities	19,638	335
Net cash used in investing activities	(2,492,337)	(117,040)
Cash flows from financing activities:
Proceeds from long-term debt	3,697,106	58,000
Repayments of long-term debt	(1,111,606)	(44,809)
Premium paid on debt extinguishment	(18,050)
Payments for debt financing costs	(47,578)
Purchase of noncontrolling interests	(66,901)
Inter-company payments	(87,291)	(14,503)
Other financing activities	(4,013)	(2,371)
Net cash provided by financing activities	2,361,667	(3,683)
Net decrease in cash and cash equivalents	(8,035)	(11,206)
Cash and cash equivalents at beginning of period	75,830	27,492
Cash and cash equivalents at end of period	67,795	16,286
Mission [Member] | Reportable Legal Entities [Member]
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS [Abstract]
Cash flows from operating activities	(756)	(900)
Cash flows from investing activities:
Purchases of property and equipment	(182)	(110)
Deposits and payments for acquisitions	(800)
Net cash used in investing activities	(982)	(110)
Cash flows from financing activities:
Proceeds from long-term debt	230,840
Repayments of long-term debt	(225,892)	(1,167)
Payments for debt financing costs	(3,779)
Net cash provided by financing activities	1,169	(1,167)
Net decrease in cash and cash equivalents	(569)	(2,177)
Cash and cash equivalents at beginning of period	6,478	4,367
Cash and cash equivalents at end of period	5,909	2,190
Non-Guarantors [Member] | Reportable Legal Entities [Member]
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS [Abstract]
Cash flows from operating activities	16,003	768
Cash flows from investing activities:
Purchases of property and equipment	(3,984)	(1,519)
Net cash used in investing activities	(3,984)	(1,519)
Cash flows from financing activities:
Proceeds from long-term debt	53,915
Repayments of long-term debt	(53,300)	(2,100)
Other financing activities	(5,808)
Net cash provided by financing activities	(5,193)	(2,100)
Net decrease in cash and cash equivalents	6,826	(2,851)
Cash and cash equivalents at beginning of period	5,372	11,557
Cash and cash equivalents at end of period	$ 12,198	$ 8,706

Subsequent Events - Additional

Subsequent Events - Additional Information (Details) - USD ($) $ / shares in Units, $ in Thousands	Aug. 07, 2017	Jul. 27, 2017	Jul. 21, 2017	Jul. 19, 2017	Jan. 17, 2017	Apr. 30, 2017	Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2017	Jun. 30, 2016	Dec. 31, 2016
Subsequent Event [Line Items]
Dividends declared per common share							$ 0.30	$ 0.24	$ 0.60	$ 0.48
Repayment of debt									$ 1,390,798	$ 48,076
Outstanding balance							$ 4,435,530		4,435,530		$ 2,342,419
Media General [Member]
Subsequent Event [Line Items]
Estimated fair value of contingent value rights							275,400		275,400
New Senior Secured Revolving Credit Facilities [Member]
Subsequent Event [Line Items]
Repayment of debt					$ 2,000
Outstanding balance							3,000		3,000		$ 2,000
Available borrowing capacity					$ 172,000		$ 172,000		172,000
Term Loan A [Member]
Subsequent Event [Line Items]
Repayment of debt						$ 25,000
Term Loans B [Member]
Subsequent Event [Line Items]
Repayment of debt									$ 170,000
Subsequent Event [Member]
Subsequent Event [Line Items]
Basis points				0.50%
Subsequent Event [Member] | Media General [Member]
Subsequent Event [Line Items]
Proceeds from disposition			$ 479,000
Subsequent Event [Member] | New Senior Secured Revolving Credit Facilities [Member]
Subsequent Event [Line Items]
Maturity period				5 years
Available borrowing capacity				$ 172,000
Subsequent Event [Member] | Term Loan A [Member]
Subsequent Event [Line Items]
Debt instrument principal amount				456,000
Outstanding balance				$ 749,700
Maturity period				5 years
Subsequent Event [Member] | Term Loans B [Member]
Subsequent Event [Line Items]
Repayment of debt	$ 30,000			$ 456,000
Subsequent Event [Member] | Class A Common Stock [Member]
Subsequent Event [Line Items]
Dividends declared per common share		$ 0.30
Dividends, date declared		Jul. 27, 2017
Dividends, date payable		Aug. 25, 2017
Dividends, date of record		Aug. 11, 2017