Nexstar Media (NXST) 10-Q 9 May 18 2018 Q1 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	3 Months Ended
	Mar. 31, 2018	May 09, 2018
Document And Entity Information [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Mar. 31, 2018
Document Fiscal Year Focus	2,018
Document Fiscal Period Focus	Q1
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		45,734,486

CONDENSED CONSOLIDATED BALANCE

CONDENSED CONSOLIDATED BALANCE SHEETS (unaudited) - USD ($) $ in Thousands		Mar. 31, 2018	Dec. 31, 2017
Current assets:
Cash and cash equivalents		$ 109,121	$ 115,652
Accounts receivable, net of allowance for doubtful accounts of $13,830 and $13,358, respectively		542,725	562,943
Spectrum asset		305,773	305,764
Prepaid expenses and other current assets		44,010	71,859
Total current assets		1,001,629	1,056,218
Property and equipment, net		725,273	734,138
Goodwill		2,183,998	2,142,846
FCC licenses		1,767,638	1,767,638
Other intangible assets, net		1,592,617	1,581,626
Other noncurrent assets, net		186,468	199,181
Total assets	[1]	7,457,623	7,481,647
Current liabilities:
Current portion of debt		92,174	92,808
Current portion of broadcast rights payable		6,843	16,659
Accounts payable		80,819	31,136
Accrued expenses		145,367	159,281
Interest payable		29,204	39,563
Liability to surrender spectrum asset		314,087	314,087
Other current liabilities		16,661	17,169
Total current liabilities		685,155	670,703
Debt		4,243,161	4,269,652
Deferred tax liabilities		627,459	619,441
Other noncurrent liabilities		320,344	340,541
Total liabilities	[1]	5,876,119	5,900,337
Commitments and contingencies (Note 13)
Stockholders' equity:
Preferred stock - $0.01 par value, 200,000 shares authorized; none issued and outstanding at each of March 31, 2018 and December 31, 2017
Additional paid-in capital		1,331,683	1,342,541
Accumulated other comprehensive income		6,140	6,140
Retained earnings		330,357	299,523
Treasury stock - at cost; 1,556,977 and 1,325,049 shares at March 31, 2018 and December 31, 2017, respectively		(97,290)	(78,063)
Total Nexstar Media Group, Inc. stockholders' equity		1,571,363	1,570,614
Noncontrolling interests in consolidated variable interest entities		10,141	10,696
Total stockholders' equity		1,581,504	1,581,310
Total liabilities and stockholders' equity		7,457,623	7,481,647
Class A Common Stock [Member]
Stockholders' equity:
Class A Common stock		473	473
Total stockholders' equity		$ 473	$ 473
[1]	The consolidated total assets as of March 31, 2018 and December 31, 2017 include certain assets held by consolidated variable interest entities (“VIEs”) of $408.4 million and $426.9 million, respectively, which are not available to be used to settle the obligations of Nexstar. The consolidated total liabilities as of March 31, 2018 and December 31, 2017 include certain liabilities of consolidated VIEs of $69.8 million and $81.8 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	Mar. 31, 2018	Dec. 31, 2017
Current assets:
Accounts receivable, allowance for doubtful accounts	$ 13,830	$ 13,358
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	1,556,977	1,325,049
Consolidated VIEs [Member]
ASSETS
Consolidated VIEs, Assets	$ 408,396	$ 426,879
LIABILITIES AND STOCKHOLDERS' EQUITY
Consolidated VIEs, Liabilities	$ 69,817	$ 81,832
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	47,291,463
Common stock, shares outstanding	45,734,486	45,966,414
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
	Mar. 31, 2018	Mar. 31, 2017
Revenues [Abstract]
Net revenue	$ 615,336	$ 540,317
Operating expenses (income):
Direct operating expenses, excluding depreciation and amortization	278,963	218,729
Selling, general, and administrative expenses, excluding depreciation and amortization	141,905	176,933
Amortization of broadcast rights	16,100	24,467
Amortization of intangible assets	36,302	48,158
Depreciation	25,814	22,226
Reimbursement from the FCC related to station repack	(1,364)
Gain on disposal of stations, net		(57,716)
Total operating expenses	497,720	432,797
Income from operations	117,616	107,520
Interest expense, net	(54,589)	(79,237)
Loss on extinguishment of debt	(1,005)	(31,804)
Pension and other postretirement plans credit, net	2,950	2,631
Other income (expenses)	(127)	(107)
Income (loss) before income taxes	64,845	(997)
Income tax (expense) benefit	(17,504)	5,941
Net income (loss)	47,341	4,944
Net (income) loss attributable to noncontrolling interests	781	1,105
Net income attributable to Nexstar Media Group, Inc.	$ 48,122	$ 6,049
Net income per common share attributable to Nexstar Media Group, Inc.:
Basic	$ 1.04	$ 0.14
Diluted	$ 1.01	$ 0.13
Weighted average number of common shares outstanding:
Basic	46,075	44,200
Diluted	47,685	45,419
Dividends declared per common share	$ 0.375	$ 0.30

CONDENSED CONSOLIDATED STATEME5

CONDENSED CONSOLIDATED STATEMENT OF CHANGES IN STOCKHOLDERS' EQUITY (unaudited) - 3 months ended Mar. 31, 2018 - USD ($) $ in Thousands	Total	Class A Common Stock [Member]	Retained Earnings [Member]	Additional Paid-In Capital [Member]	Accumulated Other Comprehensive Income [Member]	Treasury Stock [Member]	Noncontrolling interests [Member]
Balance at Dec. 31, 2017	$ 1,581,310	$ 473	$ 299,523	$ 1,342,541	$ 6,140	$ (78,063)	$ 10,696
Balance, Shares at Dec. 31, 2017		47,291,463
Balance, Shares at Dec. 31, 2017	(1,325,049)					(1,325,049)
Purchase of treasury stock	$ (33,820)	$ (33,800)				$ (33,820)
Purchase of treasury stock, shares		(501,920)				(501,920)
Stock-based compensation expense	6,400			6,400
Vesting of restricted stock units and exercise of stock options	(2,665)			(17,258)		$ 14,593
Vesting of restricted stock units and exercise of stock options						269,992
Common stock dividends declared	(17,288)		(17,288)
Contribution from a noncontrolling interest	226						226
Net income (loss)	47,341		48,122				(781)
Balance at Mar. 31, 2018	$ 1,581,504	$ 473	$ 330,357	$ 1,331,683	$ 6,140	$ (97,290)	$ 10,141
Balance, Shares at Mar. 31, 2018		47,291,463
Balance, Shares at Mar. 31, 2018	(1,556,977)					(1,556,977)

CONDENSED CONSOLIDATED STATEME6

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (unaudited) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Cash flows from operating activities:
Net income	$ 47,341	$ 4,944
Adjustments to reconcile net income to net cash provided by operating activities:
Provision for bad debt	3,294	1,542
Amortization of broadcast rights, excluding barter	16,100	14,236
Depreciation of property and equipment	25,814	22,226
Amortization of intangible assets	36,302	48,158
Gain on asset disposal, net	(59)	(57,622)
Amortization of debt financing costs and debt discounts	2,626	2,690
Loss on extinguishment of debt	1,005	31,804
Stock-based compensation expense	6,400	4,810
Deferred income taxes	184	(16,567)
Payments for broadcast rights	(16,249)	(13,335)
Payments for contingent consideration in connection with an acquisition		(4,044)
Other noncash credits, net	(404)	(431)
Changes in operating assets and liabilities, net of acquisitions and dispositions:
Accounts receivable	42,949	7,273
Prepaid expenses and other current assets	(1,243)	9,103
Other noncurrent assets	(1,567)	(1,851)
Accounts payable, accrued expenses and other current liabilities	12,887	(61,270)
Taxes payable	18,547	(944)
Interest payable	(10,359)	(32,580)
Other noncurrent liabilities	(4,203)	(5,927)
Net cash provided by (used in) operating activities	179,365	(47,785)
Cash flows from investing activities:
Purchases of property and equipment	(21,092)	(13,914)
Payments for acquisitions, net of cash acquired	(82,790)	(2,971,194)
Proceeds from sale of stations		481,944
Proceeds from disposals of property and equipment	2,847	404
Net cash used in investing activities	(101,035)	(2,502,760)
Cash flows from financing activities:
Proceeds from long-term debt, net of debt discounts	44,000	3,081,861
Repayments of long-term debt	(74,579)	(1,320,799)
Premium paid on debt extinguishment		(18,050)
Payments for debt financing costs		(51,357)
Contribution from (distributions to) a noncontrolling interest, net	226	(243)
Purchase of treasury stock	(33,820)
Proceeds from exercise of stock options	1,878	2,841
Common stock dividends paid	(17,288)	(14,106)
Purchase of noncontrolling interests		(66,901)
Payments for contingent consideration in connection with an acquisition		(956)
Cash paid for shares withheld for taxes	(4,543)	(3,858)
Payments for capital lease obligations	(735)	(474)
Net cash (used in) provided by financing activities	(84,861)	1,607,958
Net decrease in cash, cash equivalents and restricted cash	(6,531)	(942,587)
Cash, cash equivalents and restricted cash at beginning of period	115,652	1,015,479
Cash, cash equivalents and restricted cash at end of period	109,121	72,892
Supplemental information:
Interest paid	62,322	100,552
(Income tax refund, net of taxes paid) income taxes paid, net of refunds	(1,225)	3,605
Non-cash investing and financing activities:
Accrued purchases of property and equipment	$ 4,080	2,438
Noncash purchases of property and equipment		19
Debt assumed in connection with a merger		434,269
Issuance/reissuance of Class A Common Stock in connection with a merger		1,031,485
Stock option replacement awards in connection with a merger		10,702
Contingent consideration payable in connection with a merger		$ 264,965

Organization and Business Opera

Organization and Business Operations	3 Months Ended
	Mar. 31, 2018
Organization Consolidation And Presentation Of Financial Statements [Abstract]
Organization and Business Operations	1. Organization and Business Operations As of March 31, 2018, Nexstar Media Group, Inc. and its wholly-owned subsidiaries (“Nexstar”) owned, operated, programmed or provided sales and other services to 169 full power television stations, including those owned by VIEs, in 100 markets in the states of Alabama, Arizona, Arkansas, California, Colorado, Connecticut, Florida, Georgia, Hawaii, Illinois, Indiana, Iowa, Kansas, Louisiana, Maryland,

Summary of Significant Accounti

Summary of Significant Accounting Policies	3 Months Ended
	Mar. 31, 2018
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. 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): March 31, 2018 December 31, 2017 Current assets Spectrum asset $ 26,695 $ 26,695 Other current assets 18,839 22,038 Total current assets 45,534 48,733 Property and equipment, net 7,264 7,517 Goodwill 121,601 130,362 FCC licenses 151,808 151,808 Other intangible assets, net 80,252 81,916 Other noncurrent assets, net 1,937 6,543 Total assets 408,396 426,879 Current Liabilities Liability to surrender spectrum asset $ 27,347 $ 27,347 Other current liabilities 17,214 24,146 Total current liabilities 44,561 51,493 Noncurrent liabilities 25,256 30,339 Total liabilities $ 69,817 $ 81,832 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 March 31, 2018 and for the three months ended March 31, 2018 and 2017 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, 2017. The balance sheet as of December 31, 2017 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 Nexstar consolidates entities in which Nexstar is deemed under U.S. GAAP to have controlling financial interests 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 certain VIEs’ senior secured credit facilities (see Note 7), (3) Nexstar having power over significant activities affecting these VIEs’ economic performance, including budgeting for advertising revenue, certain advertising sales and, in some cases, hiring and firing of sales force personnel and (4) purchase options granted by each VIE, exclusive of Marshall Broadcasting Group, Inc. (“Marshall”), which permit Nexstar to acquire the assets and assume the liabilities of each of the VIEs’ stations, subject to Federal Communications Commission (“FCC”) consent. The following table summarizes the various local service agreements Nexstar had in effect as of March 31, 2018 with its consolidated VIEs: Service Agreements Owner Full Power Stations TBA Only Mission Broadcasting, Inc. (“Mission”) WFXP, KHMT and KFQX LMA Only WNAC, LLC WNAC 54 Broadcasting, Inc. (“54 Broadcasting”) KNVA SSA & JSA Mission KJTL, KLRT, KASN, KOLR, KCIT, KAMC, KRBC, KSAN, WUTR, WAWV, WYOU, KODE, WTVO, KTVE, WTVW and WVNY White Knight Broadcasting (“White Knight”) WVLA, KFXK, KSHV Shield Media, LLC (“Shield”) WXXA and WLAJ Vaughan Media, LLC (“Vaughan”) WBDT, WYTV and KTKA SSA Only Marshall KLJB, KPEJ and KMSS Tamer Media, LLC (“Tamer”) KWBQ, KASY and KRWB Nexstar’s ability to receive cash from its VIEs 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, each VIE maintains complete responsibility for and control over programming, finances, personnel and operations of its 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): March 31, 2018 December 31, 2017 Current assets: Cash and cash equivalents $ 11,515 $ 17,180 Accounts receivable, net 23,611 24,407 Spectrum asset 26,695 26,695 Prepaid expenses and other current assets 3,795 6,762 Total current assets 65,616 75,044 Property and equipment, net 25,359 25,971 Goodwill 154,788 163,549 FCC licenses 151,808 151,808 Other intangible assets, net 95,549 97,757 Other noncurrent assets, net 5,099 9,443 Total assets $ 498,219 $ 523,572 Current liabilities: Current portion of debt $ 55,931 $ 56,565 Interest payable 1,123 994 Liability to surrender spectrum asset 27,347 27,347 Other current liabilities 17,214 24,146 Total current liabilities 101,615 109,052 Debt 245,073 245,523 Other noncurrent liabilities 25,256 30,594 Total liabilities $ 371,944 $ 385,169 Non-Consolidated VIEs Nexstar has an outsourcing agreement with Cunningham Broadcasting Corporation (“Cunningham”), which continues through December 31, 2021. 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 Nexstar’s 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 arising from Nexstar’s outsourcing agreement with Cunningham. Revenue Recognition As discussed in Recent Accounting Pronouncements below, the Company adopted the FASB issued ASU No. 2014-09, Revenue from Contracts with Customers (Topic 606) and all related amendments. ASC 606 establishes a comprehensive new revenue recognition model designed to depict the transfer of goods or services to a customer in an amount that reflects the consideration the entity expects to be entitled to receive in exchange for those goods or services and requires significantly enhanced revenue disclosures. The Company adopted this standard effective January 1, 2018 using the modified retrospective method as applied to customer contracts that were not completed as of January 1, 2018. As a result, financial information for reporting periods beginning after January 1, 2018 is presented under ASC 606, while comparative financial information has not been adjusted and continues to be reported in accordance with the Company’s historical accounting policy for revenue recognition prior to the adoption of ASC 606. The Company’s revenue is primarily derived from the sale of advertising and the compensation received from cable, satellite and other multichannel video programming distributors (“MVPDs”) in its markets in return for the Company’s consent to the retransmission of the signals of its television stations. Total revenue includes advertising revenue, retransmission compensation, digital revenue and other broadcast related revenues. The Company determines whether gross or net presentation is appropriate based on its relationship in the applicable transaction with its ultimate customer. Any amounts paid by customers but not earned as of the balance sheet date are recorded as a contract liability (deferred revenue). The lag between billing the customers and when the payment is due is not significant. The stations’ advertising contracts are short-term in nature and include a number of spots that are delivered over the term of the arrangement. Advertising revenue is recognized, for the amount the Company is entitled to receive, when the advertisements are broadcast on its stations (local, national and political revenue) or delivered on the stations’ websites (digital revenue). The Company’s retransmission consent agreements with MVPDs generally have a three-year term and provides revenue based on the number of subscribers. Under ASC 606, these revenues are considered arising from the licenses of intellectual property. As such, the Company applies the exception for sales- or usage- based royalty for the accounting of variable consideration and recognizes revenue when the underlying usage occurs. Retransmission compensation is recognized as the content is transferred to the MVPDs and is based on a price per subscriber. The MVPDs report their subscriber numbers to the Company on a 30- to 60-day lag, which coincides with their payment of the fees due to the Company. Prior to receiving the report from the MVPDs, the Company records revenue based on estimated subscribers and the monthly amount the Company is entitled to receive per subscriber. The impact of the lag is not significant. Revenue from the Company’s other digital businesses includes revenue from digital publishing and content management platforms, digital video advertising platform, social media advertising platform and related services. Revenue is recognized at the time advertising is delivered or upon performance of services. The Company applies the right to invoice practical expedient to certain transactions where the invoice amount corresponds directly with the value to our customers. Most of the arrangements with customers are short-term in nature. The Company trades certain advertising time for various goods and services. These transactions are short-term in nature and are recorded at the estimated fair value of the goods or services received. Revenue from trade transactions is recognized when the related advertisement spots are broadcast. The Company recorded $2.8 million and $2.2 million of trade revenue during the three months ended March 31, 2018 and 2017, respectively. The above revenue recognition policies are consistent with the Company’s historical accounting policies prior to the adoption of ASC 606. Effective on January 1, 2018, the Company no longer recognizes barter revenue (and the related barter expense) resulting from the exchange of advertising time for certain program material. During the three months ended March 31, 2017, barter revenue and barter expense were $10.2 million and $10.2 million, respectively. The barter expense was included in amortization of broadcast rights in the accompanying Condensed Consolidated Statement of Operations. Under the Company’s historical accounting policy prior to the adoption of ASC 606, barter revenue and barter expense would have been $11.0 million and $11.0 million, respectively, during the three months ended March 31, 2018. In addition, the current barter assets (and the related current barter liabilities) would have been $8.2 million, and the noncurrent barter assets (and the related noncurrent barter liabilities) would have been $10.6 million as of March 31, 2018. The Company elected to utilize the practical expedient around costs incurred to obtain a contract for television advertising and digital advertising due to their short-term nature. Additionally, the incremental benefit from efforts in acquiring these contracts is considered not significant. Thus, the Company continued to expense sales commissions when incurred. The Company did not disclose the value of unsatisfied performance obligations on its contracts with customers because they are either (i) contracts with an original expected term of one year or less, (ii) contracts for which the sales- or usage- based royalty exception was applied, or (ii) contracts for which revenue is recognized in proportion to the amount the Company has the right to invoice for services performed. See Note 9 for additional disclosures on revenue from contracts with customers. 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 in connection with the acquisition of Likqid Media Inc. (“LKQD”). 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. As discussed under Recent Accounting Pronouncements, as of January 1, 2018 the Company adopted ASU No. 2017-07 which requires entities to (1) disaggregate the current-service-cost component from the other components of net benefit cost (the “other components”) and present such current-service-costs in the same income statement line item as other compensation costs for services rendered by the pertinent employees during the period and (2) present the other components in the income statement separately from the service cost component and outside a subtotal of income from operations. The Company had no service costs during the three months ended March 31, 2018 and 2017. In accordance with this adoption, the net periodic benefit cost, which consists of interest costs and expected return on plan assets, is disclosed on a separate line below income from operations in the Condensed Consolidated Statements of Operations. 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 March 31, 2018 2017 Weighted average shares outstanding - basic 46,075 44,200 Dilutive effect of equity incentive plan instruments 1,610 1,219 Weighted average shares outstanding - diluted 47,685 45,419 Stock options and restricted stock units to acquire a weighted average of 76,000 shares and 550,000 shares for the three months ended March 31, 2018 and 2017, 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 New Accounting Standards Adopted In May 2014, the FASB issued ASU No. 2014-09, Revenue from Contracts with Customers (Topic 606) and all related amendments. The Company adopted this standard effective January 1, 2018 using the modified retrospective method as applied to customer contracts that were not completed as of January 1, 2018. Upon adoption of this standard, the cumulative adjustment to the Company’s retained earnings as of January 1, 2018 for the cumulative effect of initially applying the new standard In August 2016, the FASB issued ASU No. 2016-15, Statement of Cash Flows (Topic 230) Classification of Certain Cash Receipts and Cash Payments (a consensus of the Emerging Issues Task Force) (ASU 2016-15). The amendments in ASU 2016-15 address eight specific cash flow issues and apply to all entities that are required to present a statement of cash flows under FASB Accounting Standards Codification 230, Statement of Cash Flows. The amendments in ASU 2016-15 are effective for fiscal years, and interim periods within those years, beginning after December 15, 2017. The Company has applied the change in accounting as of January 1, 2018 on a retrospective basis. This adoption impacted Nexstar’s previous financing activity classification of payments for contingent consideration related to an acquisition of $5.0 million in the Condensed Consolidated Statement of Cash Flows during the three months ended March 31, 2017. The payment was not made soon after the consummation of a business combination and includes $4.0 million more than the acquisition date fair value of the contingent consideration liability. Under ASU 2016-15, this portion of the transaction should be classified as an operating activity in the Condensed Consolidated Statement of Cash Flows. As such, the amount previously reported as net cash used in operating activities was increased by $4.0 million and the amount previously reported as net cash used in financing activities were decreased by $4.0 million. 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. The Company has applied the change in accounting as of January 1, 2018 on a retrospective basis. This adoption impacted the release of a restricted escrow deposit into Nexstar’s operating cash during the three months ended March 31, 2017. In July 2016, Nexstar issued its $900 million 5.625% Senior Unsecured Notes (the “5.625% Notes”) at par, the gross proceeds of which were directly deposited into a restricted escrow account. Interest on these notes is payable semiannually but Nexstar was required to pre-fund interest on such notes monthly from July 2016 to December 2016, all of which was also deposited in the restricted escrow account. As of December 31, 2016, the restricted escrow account had a balance of $927.8 million. In January 2017, Nexstar completed its merger with Media General, Inc. (“Media General”). As a result, the funds previously deposited in the restricted escrow account, including the pre-funded interests, were released to Nexstar’s operating cash. On February 1, 2017, Nexstar paid the first interest due to the lenders of the 5.625% Notes of $25.9 million. During the three months ended March 31, 2017, Nexstar previously classified the effects of these transactions in its Condensed Consolidated Statement of Cash Flows as follows: (i) $21.6 million source of cash from operating activities, under change in prepaid expenses and other current assets line item, (ii) $5.1 million source of cash from investing activities, (iii) $900.0 million source of cash from financing activities, under proceeds from long-term debt line item, (iv) $1.1 million source of cash from operating activities under change in other noncurrent assets line item, and (v) no cash flow reported in 2017 for the payment of interest on the 5.625% Notes as the cash flow impact was reported in 2016, when the pre-funding was made. Under ASU 2016-18, transfers between cash, cash equivalents, and amounts generally described as restricted cash or restricted cash equivalents are not part of an entity’s operating, investing, and financing activities, and details of those transfers are not reported as cash flow activities in the statement of cash flows. As such, the previous classification in the Condensed Consolidated Statement of Cash Flows related to these transactions was reversed, resulting in an increase in net cash used in operating activities of $22.7 million, an increase in net cash used in investing activities of $5.1 million and a decrease in net cash provided by financing activities of $900.0 million during the three months ended March 31, 2017. Additionally, the cash, cash equivalents and restricted cash at the beginning of the period in 2017 increased by $927.8 million and the supplemental cash flow information for interest paid increased by $25.9 million in 2017. 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 Company has applied the change in accounting as of January 1, 2018. The adoption of this ASU did not impact 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 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. The Company has applied the change in accounting as of January 1, 2018. Accordingly, net periodic benefit, net of service costs, of $2.8 million for the three months ended March 31, 2017 were adjusted out of selling, general, and administrative expenses and separately stated below income from operations. 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. ASU 2017-09 is effective for fiscal years beginning after December 15, 2017, including interim periods within those fiscal years. The Company has applied the change in accounting as of January 1, 2018. The adoption of this ASU did not impact the Company's Consolidated Financial Statements. In February 2018, the FASB issued ASU No. 2018-02, Reporting Comprehensive Income: Reclassification of Certain Tax Effects from Accumulated Other Comprehensive Income. ASU 2018-02 provides the option to reclassify stranded tax effects related to the U.S. Tax Cuts and Jobs Act of 2017 in accumulated other comprehensive income to retained earnings. The adjustment relates to the change in the U.S. corporate income tax rate. The adoption of this ASU did not impact the Company's Consolidated Financial Statements. New Accounting Standards Not Yet Adopted 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. In January 2018, the FASB issued ASU No. 2018-01 to address the accounting treatment of land easements within the context of ASU No. 2016-02, Leases (Topic 842). ASU 2018-01 provides an optional transition practical expedient to not evaluate under Topic 842 existing or expired land easements that were not previously accounted for as leases under the current leases guidance in Topic 840. 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 June 2016, the FASB issued ASU No. 2016-13, “Financial Instruments - Credit Losses (Topic 326).” The standard requires entities to estimate loss of financial assets measured at amortized cost, including trade receivables, debt securities and loans, using an expected credit loss model. The expected credit loss differs from the previous incurred losses model primarily in that the loss recognition threshold of “probable” has been eliminated and that expected loss should consider reasonable and supportable forecasts in addition to the previously considered past events and current conditions. Additionally, the guidance requires additional disclosures related to the further disaggregation of information related to the credit quality of financial assets by year of the asset’s origination for as many as five years. Entities must apply the standard provision as a cumulative-effect adjustment to retained earnings as of the beginning of the first reporting period in which the guidance is effective. The standard is effective for fiscal years beginning after December 15, 2019, and interim periods within those fiscal years. Early adoption is permitted for annual periods beginning after December 15, 2018, and interim periods within those fiscal years. The Company is currently evaluating the impact of adopting ASU 2016-13 on its consolidated financial statements.

Acquisitions

Acquisitions	3 Months Ended
	Mar. 31, 2018
Business Combinations [Abstract]
Acquisitions	3. Acquisitions On January 16, 2018, Nexstar Digital LLC (“Nexstar Digital”), a wholly-owned subsidiary of Nexstar, acquired the outstanding equity of LKQD, a video advertising infrastructure company, for $96.9 million. In January 2018, $94.0 million of the purchase price was paid, funded by a combination of borrowing under the revolving credit facility portion of Nexstar’s senior secured credit facility (Note 7) and cash on hand. The remaining $2.9 million (working capital adjustment) is included in accrued expenses in the accompanying Condensed Consolidated Balance Sheet as of March 31, 2018. On April 27, 2018, Nexstar Digital paid the remaining amount of $2.9 million to the former owners. The sellers are also entitled to receive up to $35.0 million in additional cash payments if a certain earnings target is achieved during the fiscal year 2019 and if certain employees have continued their employment with Nexstar Digital on the date of payment (the “Earnout Payments”). The Earnout Payments are considered compensation to employees for their services and will be incurred from the acquisition date through December 31, 2019. As of March 31, 2018, Nexstar Digital accrued $0.6 million, representing the portion of the estimated fair value of the Earnout Payments that is incurred. The estimated fair value of the Earnout Payments was determined by applying a weighted probability of potential outcomes to the maximum possible payout of $35.0 million. The calculation of these potential outcomes is dependent on past financial performance, management assumptions about future performance and industry trends and any changes to these assumptions could impact the final settlement. This fair value measurement is considered Level 3 as significant inputs are unobservable to the market. The acquisition of LKQD broadens and diversifies Nexstar Digital’s portfolio with technologies that are complementary to its current offerings of digital solutions and services for media publishers, and multi-platform marketing solutions for local and national advertisers. Transaction costs relating to this acquisition, including legal and professional fees of $0.4 million, were expensed as incurred during the three months ended March 31, 2018. Subject to final determination, which is expected to occur within 12 months of the acquisition date, the provisional fair values of the assets acquired and liabilities assumed in the acquisition are as follows (in thousands): Cash and cash equivalents $ 11,166 Accounts receivable 25,956 Property and equipment 210 Other intangible assets 45,321 Goodwill 41,152 Total assets acquired and consolidated 123,805 Less: Accounts payable and accrued expenses (18,815 ) Less: Taxes payable (1,255 ) Less: Deferred tax liabilities (6,828 ) Net assets acquired and consolidated $ 96,907 The fair value assigned to goodwill is attributable to future expense reductions utilizing management’s leverage in operating costs. The goodwill and other intangible assets are not deductible for tax purposes. Other intangible assets are amortized over an estimated weighted average useful life of approximately three years. LKQD’s net revenue of $7.0 million and operating income of $2.4 million from the date of acquisition to March 31, 2018 have been included in the accompanying Condensed Consolidated Statements of Operations.

Intangible Assets and Goodwill

Intangible Assets and Goodwill	3 Months Ended
	Mar. 31, 2018
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 March 31, 2018 December 31, 2017 useful life, Accumulated Accumulated in years Gross Amortization Net Gross Amortization Net Network affiliation agreements 15 $ 1,971,170 $ (490,375 ) $ 1,480,795 $ 1,971,170 $ (461,345 ) $ 1,509,825 Other definite-lived intangible assets 1-20 $ 240,382 $ (128,560 ) 111,822 193,089 (121,288 ) 71,801 Other intangible assets $ 2,211,552 $ (618,935 ) $ 1,592,617 $ 2,164,259 $ (582,633 ) $ 1,581,626 The increase in other definite-lived intangible assets pertains to the acquisition of LKQD (See Note 3). The following table presents the Company’s estimate of amortization expense for the remainder of 2018, each of the five succeeding years ended December 31 and thereafter for definite-lived intangible assets as of March 31, 2018 (in thousands): Remainder of 2018 $ 108,458 2019 138,226 2020 129,737 2021 118,694 2022 113,295 2023 112,020 Thereafter 872,187 $ 1,592,617 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, 2017 $ 2,212,755 $ (69,909 ) $ 2,142,846 $ 1,815,048 $ (47,410 ) $ 1,767,638 Acquisitions (See Note 3) 41,152 - 41,152 - - - Balances as of March 31, 2018 $ 2,253,907 $ (69,909 ) $ 2,183,998 $ 1,815,048 $ (47,410 ) $ 1,767,638 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 three months ended March 31, 2018, the Company did not identify any events that would trigger impairment assessment.

Accrued Expenses

Accrued Expenses	3 Months Ended
	Mar. 31, 2018
Payables And Accruals [Abstract]
Accrued Expenses	5. Accrued Expenses Accrued expenses consisted of the following (in thousands): March 31, December 31, 2018 2017 Compensation and related taxes $ 42,303 $ 44,775 Network affiliation fees 49,494 68,197 Other 53,570 46,309 $ 145,367 $ 159,281

Retirement and Postretirement P

Retirement and Postretirement Plans	3 Months Ended
	Mar. 31, 2018
Compensation And Retirement Disclosure [Abstract]
Retirement and Postretirement Plans	6. Retirement and Postretirement Plans The Company has a funded, qualified non-contributory defined benefit retirement plan which covers certain employees and former employees. Additionally, there are non-contributory unfunded supplemental executive retirement and ERISA excess plans which supplement the coverage available to certain executives. All of these retirement plans are frozen. The Company also has 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. 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. The following table provides the components of net periodic benefit cost (income) for the Company’s benefit plans (in thousands): Three Months Ended March 31, 2018 Pension Benefits Other Benefits Interest cost $ 3,350 $ 150 Expected return on plan assets (6,450 ) - Net periodic benefit (income) cost $ (3,100 ) $ 150 Three Months Ended March 31, 2017 Pension Benefits Other Benefits Interest cost $ 3,261 $ 130 Expected return on plan assets (6,022 ) - Net periodic benefit (income) cost $ (2,761 ) $ 130 The Company has no required contributions to its qualified retirement plan in 2018. Payments to fund the obligations under the remaining plans are considered contributions and are expected to be less than $6 million in 2018.

Debt

Debt	3 Months Ended
	Mar. 31, 2018
Debt Disclosure [Abstract]
Debt	7. Debt Long-term debt consisted of the following (in thousands): March 31, December 31, 2018 2017 Term loans, net of financing costs and discount of $54,146 and $57,547, respectively $ 2,744,697 $ 2,791,875 Revolving loans 23,000 3,000 6.125% Senior unsecured notes due 2022, net of financing costs of $1,885 and $1,992, respectively 273,115 273,008 5.875% Senior unsecured notes due 2022, plus premium of $7,624 407,624 408,102 5.625% Senior unsecured notes due 2024, net of financing costs of $13,101 and $13,525, respectively 886,899 886,475 4,335,335 4,362,460 Less: current portion (92,174 ) (92,808 ) $ 4,243,161 $ 4,269,652 2018 Transactions On January 16, 2018, Nexstar borrowed $44.0 million from its revolving credit facility to partially fund the acquisition of LKQD (See Note 3). In February and March 2018, Nexstar partially repaid the outstanding principal balance under its revolving loan with payments of $20.0 million and $4.0 million, respectively. During the three months ended March 31, 2018, Nexstar prepaid a total of $40.0 million in principal balance under its Term Loan B, funded by cash on hand. This resulted in a loss on extinguishment of debt of $1.0 million, representing write-off of unamortized debt financing costs and discounts. Through March 31, 2018, the Company repaid scheduled maturities of $10.6 million of its term loans. Unused Commitments and Borrowing Availability The Company had $152.0 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 March 31, 2018. 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 March 31, 2018, the Company was in compliance with its financial covenants. 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, a wholly-owned subsidiary of Nexstar, are guarantors of Nexstar’s senior secured credit facility. Mission is also a guarantor of Nexstar’s 6.125% senior secured notes due 2022 (“6.125% Notes”) and the 5.625% Notes but does not guarantee Nexstar’s 5.875% Senior Notes due 2022 (the “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 2018 and 2027) 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. 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 March 31, 2018, the Company was in compliance with this financial covenant. Fair Value of Debt The aggregate carrying amounts and estimated fair values of the Company’s debt were as follows (in thousands): March 31, 2018 December 31, 2017 Carrying Fair Carrying Fair Amount Value Amount Value Term loans (1) $ 2,744,697 $ 2,786,410 $ 2,791,875 $ 2,852,199 Revolving loans (1) 23,000 22,661 3,000 2,985 6.125% Senior unsecured notes (2) 273,115 283,250 273,008 284,625 5.875% Senior unsecured notes (2) 407,624 412,500 408,102 415,500 5.625% Senior unsecured notes (2) 886,899 892,125 886,475 925,875 (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	3 Months Ended
	Mar. 31, 2018
Stockholders Equity Note [Abstract]
Common Stock	8. Common Stock On June 12, 2017, Nexstar’s Board of Directors approved an increase in Nexstar’s share repurchase authorization to repurchase up to an additional $100 million of its Class A common stock. 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 Nexstar is required to repurchase and the repurchase program may be suspended or discontinued at any time without prior notice. During the three months ended March 31, 2018, Nexstar repurchased a total of 501,920 shares of Class A common stock for $33.8 million, funded by cash on hand. As of March 31, 2018, the remaining available amount under the share repurchase authorization was $18.6 million.

Revenue

Revenue	3 Months Ended
	Mar. 31, 2018
Revenue From Contract With Customer [Abstract]
Revenue	9. Revenue As discussed in Note 2, the Company adopted the FASB issued ASU No. 2014-09, Revenue from Contracts with Customers (Topic 606) and all the related amendments. ASC 606 establishes a comprehensive new revenue recognition model designed to depict the transfer of goods or services to a customer in an amount that reflects the consideration the entity expects to be entitled to receive in exchange for those goods or services and requires significantly enhanced revenue disclosures. The Company adopted this standard effective January 1, 2018 using the modified retrospective method as applied to customer contracts that were not completed as of January 1, 2018. As a result, financial information for reporting periods beginning after January 1, 2018 is presented under ASC 606, while comparative financial information has not been adjusted and continues to be reported in accordance with the Company’s historical accounting policy for revenue recognition prior to the adoption of ASC 606. Upon adoption of this standard, the cumulative adjustment to the Company’s retained earnings as of January 1, 2018 for the cumulative effect of initially applying the new standard is not material. Comparative information has not been restated and continues to be reported under the accounting standards in effect for those periods. The following are additional disclosures about the Company’s revenue under ASC 606. Contract Balance Contract balances typically arise when a difference in timing between the transfer of control to the customer and receipt of consideration occurs. Our contract liabilities, which are reflected in our Consolidated Financial Statements as accrued expenses and other liabilities, consist primarily of customer payments for products or services received before the transfer of control to the customer occurs (deferred revenue). The Company’s performance obligations related to contract liabilities of $5.4 million as of January 1, 2018 were recognized as revenue during the first quarter of 2018. The Company’s performance obligations related to contract liabilities of $5.4 million as of March 31, 2018 are expected to be recognized as revenue in the second quarter of 2018. Disaggregation of Revenues The following table presents the disaggregation of our revenue for first quarter 2018 under ASC 606. First quarter 2017 revenues are presented in accordance with the Company’s historical accounting standard prior to the adoption of ASC 606 (in thousands): Three Months Ended March 31, 2018 Broadcast Other Consolidated Local $ 193,268 $ - $ 193,268 National 67,045 - 67,045 Political 9,266 - 9,266 Retransmission compensation 275,941 - 275,941 Digital 24,468 38,336 62,804 Other 4,154 15 4,169 Trade revenue 2,843 - 2,843 Total revenue $ 576,985 $ 38,351 $ 615,336 Three Months Ended March 31, 2017 Broadcast Other Consolidated Local $ 178,476 $ - $ 178,476 National 65,982 - 65,982 Political 1,696 - 1,696 Retransmission compensation 231,895 - 231,895 Digital 16,949 28,416 45,365 Other 3,727 734 4,461 Trade and barter revenue 12,442 - 12,442 Total revenue $ 511,167 $ 29,150 $ 540,317 The Company is a television broadcasting and digital media company focused on the acquisition, development and operation of television stations and interactive community websites and digital media services in medium-sized markets in the United States. Advertising revenue (local, national, political and digital) is positively affected by national and regional political campaigns, and certain events such as the Olympic Games or the Super Bowl. Company stations’ advertising revenue is generally highest in the second and fourth quarters of each year, due in part to increases in consumer advertising in the spring and retail advertising in the period leading up to, and including, the holiday season. In addition, advertising revenue is generally higher during even-numbered years when congressional and presidential elections occur, and advertising is aired during the Olympic Games. The Company receives compensation from MVPDs in return for the consent to the retransmission of the signals of its television stations. Retransmission compensation is recognized at the point in time the content is transferred to the MVPDs and is based on Beginning in the first quarter of 2018, the Company no longer recognizes barter revenue (and the related barter expense) resulting from the exchange of advertising time for certain program material. During the three months ended March 31, 2017, the Company recognized barter revenue (and barter expense) of $10.2 million, included in the trade and barter revenue line in the table above.

Stock-Based Compensation Plans

Stock-Based Compensation Plans	3 Months Ended
	Mar. 31, 2018
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]
Stock-Based Compensation Plans	10. Stock-Based Compensation Plans During the three months ended March 31, 2018, Nexstar granted 427,500 restricted stock units to employees and non-employee directors with an estimated fair value of $28.6 million. The restricted stock units vest over a range of three to four years from the date of the award.

Income Taxes

Income Taxes	3 Months Ended
	Mar. 31, 2018
Income Tax Disclosure [Abstract]
Income Taxes	11. Income Taxes Income tax expense was $17.5 million for the three months ended March 31, 2018, compared to an income tax benefit of $5.9 million for the same period in 2017. The effective tax rates were 27.0% and 595.9% for each of the respective periods. In 2017, the Company recognized the tax impact of divested stations previously owned by Nexstar which resulted in an income tax benefit of $8.3 million, and a higher effective tax rate in 2017 by 833.8%. This income tax benefit was primarily the result of proceeds received which will not be subject to taxation. In 2017, the excess tax benefits related to stock-based compensation were higher by $0.4 million compared to the same period in 2018. This resulted in a higher effective tax rate in 2017 by 108.4%. The foregoing transactions were offset by certain tax expenses recognized in 2017. These include transaction costs attributable to the merger with Media General that were determined to be nondeductible for tax purposes and resulted in an income tax expense of $1.7 million in 2017, or a 172.4% decrease in the effective tax rate. Additionally, 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 150.1% decrease to the effective tax rate. In December 2017, the Tax Cuts and Jobs Act of 2017 was signed into law which reduced the federal corporate income tax rate from 35% to 21%. The Tax Act requires complex computations not previously provided in U.S. tax law. As such, the application of accounting guidance for such items is currently uncertain. Further, compliance with the Tax Act and the accounting for such provisions require accumulation of information not previously required or regularly produced. As a result, we provided a provisional estimate on the effect of the Tax Act within the Consolidated Financial Statements and related Notes included in Nexstar’s Annual Report on Form 10-K for the year ended December 31, 2017. As additional regulatory guidance is issued by the applicable taxing authorities, as accounting treatment is clarified, as we perform additional analysis on the application of the law, and as we refine estimates in calculating the effect, our final analysis, which will be recorded in the period completed, may be different from our current provisional amounts, which could materially affect our tax obligations and effective tax rate. As of March 31, 2018, there has been no change to the provisional estimates.

FCC Regulatory Matters

FCC Regulatory Matters	3 Months Ended
	Mar. 31, 2018
Risks And Uncertainties [Abstract]
FCC Regulatory Matters	12. 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) retained the then-existing local television ownership rule and radio/television cross-ownership rule with minor technical modifications, (2) extended the ban on common ownership of two top-four television stations in a market to network affiliation swaps, (3) retained the then-existing ban on newspaper/broadcast cross-ownership in local markets while considering waivers and providing an exception for failed or failing entities, (4) retained the dual network rule, (5) made JSA relationships attributable interests and (6) defined a category of sharing agreements designated as SSAs between stations and required public disclosure of those SSAs (while not considering them attributable). The 2016 Ownership Order reinstated a rule that attributed 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 were permitted to continue to operate under those JSAs until September 30, 2025. Nexstar and other parties filed petitions seeking reconsideration of various aspects of the 2016 Ownership Order. On November 16, 2017, the FCC adopted an order (the “Reconsideration Order”) addressing the petitions for reconsideration. The Reconsideration Order (1) eliminated the rules prohibiting newspaper/broadcast cross-ownership and limiting television/radio cross-ownership, (2) eliminated the requirement that eight or more independently-owned television stations remain in a local market for common ownership of two television stations in that market to be permissible, (3) retained the general prohibition on common ownership of two “top four” stations in a local market but provided for case-by-case review, (4) eliminated the television JSA attribution rule, and (5) retained the SSA definition and disclosure requirement for television stations. These rule modifications took effect on February 7, 2018, when the U.S. Court of Appeals for the Third Circuit denied a mandamus petition which had sought to stay their effectiveness. The Reconsideration Order remains subject to appeals before the Third Circuit. 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 no longer evaluates 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, and that rule change became effective in October 2016. On April 20, 2017, the FCC adopted an order on reconsideration that reinstated the UHF discount. That order stated that the FCC would launch a comprehensive rulemaking later in 2017 to evaluate the UHF discount together with the national ownership limit. The FCC initiated that proceeding in December 2017, and comments and reply comments were filed in the first and second quarters of 2018. The FCC’s April 2017 reinstatement of the UHF 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 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 three 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. Ten 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 went off the air in November 2017, resulting in the Company now owning 169 full power television stations. The station that went off the air is not expected to have a significant impact on the Company’s 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 Company derecognized the spectrum asset and liability to surrender spectrum of this station in the fourth quarter of 2017. Of the remaining ten stations, three have ceased broadcasting on their current channels and implemented channel sharing agreements (See Note 16). Five will be required to cease broadcasting on their current channels on various dates through July 22, 2018 and will implement channel sharing arrangements. The two stations moving to VHF channels must vacate their current channels by September 2019 and May 2020, respectively. 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 are 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 $2.75 billion to reimburse television broadcasters, multichannel video program distributors (“MVPDs”), and other parties for costs reasonably incurred due to the repack. This allocation includes $1 billion added to the TV Broadcaster Relocation Fund as part of the Consolidated Appropriations Act, 2018. 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 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 in certain circumstances. In March 2014, the FCC 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 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. On December 5, 2014 federal legislation 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. 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 such agreements.

Commitments and Contingencies

Commitments and Contingencies	3 Months Ended
	Mar. 31, 2018
Commitments And Contingencies Disclosure [Abstract]
Commitments and Contingencies	13. 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 March 31, 2018, Mission had a maximum commitment of $228.4 million under its senior secured credit facility, of which $225.4 million of debt was outstanding, Marshall had used all of its commitment and had outstanding debt obligations of $52.2 million and Shield had also used all of its commitment and had outstanding obligations of $23.5 million. Marshall’s debt is due in June 2018 and is included in the current liabilities in the accompanying March 31, 2018 condensed consolidated balance sheets. The other debts 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	3 Months Ended
	Mar. 31, 2018
Segment Reporting [Abstract]
Segment Data	14. 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 March 31, 2018 Broadcast Other Consolidated Net revenue $ 576,985 $ 38,351 $ 615,336 Depreciation 21,400 4,414 25,814 Amortization of intangible assets 32,053 4,249 36,302 Income (loss) from operations 152,567 (34,951 ) 117,616 Three Months Ended March 31, 2017 Broadcast Other Consolidated Net revenue $ 511,167 $ 29,150 $ 540,317 Depreciation 16,942 5,284 22,226 Amortization of intangible assets 45,933 2,225 48,158 Income (loss) from operations 187,077 (79,557 ) 107,520 As of March 31, 2018 Broadcast Other Consolidated Goodwill $ 2,122,935 $ 61,063 $ 2,183,998 Assets 6,623,759 833,864 7,457,623 As of December 31, 2017 Broadcast Other Consolidated Goodwill $ 2,122,935 $ 19,911 $ 2,142,846 Assets 6,723,685 757,962 7,481,647

Condensed Consolidating Financi

Condensed Consolidating Financial Information	3 Months Ended
	Mar. 31, 2018
Condensed Financial Information Of Parent Company Only Disclosure [Abstract]
Condensed Consolidating Financial Information	15. 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 indentures governing the 5.625% Notes and the 6.125% Notes are not registered but require consolidating information that presents the guarantor information. As discussed in Note 2, the Company adopted ASU No. 2016-15 on a retrospective basis which reclassified the cash flow classification of certain payments for contingent consideration related to an acquisition in 2017 from financing activities to operating activities. The Company also adopted ASU No. 2016-18 on a retrospective basis which impacted the cash flow treatment of transfers between cash, cash equivalents and restricted cash in 2017. Further, the Company adopted ASU No. 2017-07 on a retrospective basis which requires the presentation of the net periodic benefit costs, other than the current service costs, in the income statement separately from the service cost component and outside the subtotal of income from operations. The effects of these adoptions were reflected in the accompanying Condensed Consolidating Statement of Operations and Condensed Consolidating Statement of Cash Flows during the three months ended March 31, 2017. CONDENSED CONSOLIDATING BALANCE SHEET As of March 31, 2018 (in thousands) Nexstar Non- Consolidated Nexstar Broadcasting Mission Guarantors Eliminations Company ASSETS Current assets: Cash and cash equivalents $ - $ 80,246 $ 4,056 $ 24,819 $ - $ 109,121 Accounts receivable - 445,786 14,809 82,130 - 542,725 Amounts due from consolidated entities - 69,594 90,003 - (159,597 ) - Spectrum asset - 279,078 - 26,695 - 305,773 Other current assets - 39,173 1,216 3,621 - 44,010 Total current assets - 913,877 110,084 137,265 (159,597 ) 1,001,629 Investments in subsidiaries 763,631 108,884 - - (872,515 ) - Amounts due from consolidated entities 828,532 - - - (828,532 ) - Property and equipment, net - 691,012 18,095 16,240 (74 ) 725,273 Goodwill - 1,968,147 33,187 182,664 - 2,183,998 FCC licenses - 1,615,830 43,102 108,706 - 1,767,638 Other intangible assets, net - 1,446,452 15,297 130,868 - 1,592,617 Other noncurrent assets - 180,726 3,162 2,580 - 186,468 Total assets $ 1,592,163 $ 6,924,928 $ 222,927 $ 578,323 $ (1,860,718 ) $ 7,457,623 LIABILITIES AND STOCKHOLDERS' EQUITY (DEFICIT) Current liabilities: Current portion of debt $ - $ 36,243 $ 2,314 $ 53,617 $ - $ 92,174 Accounts payable - 61,863 2,166 16,790 - 80,819 Liability to surrender spectrum asset - 286,740 - 27,347 - 314,087 Amounts due to consolidated entities - - - 159,597 (159,597 ) - Other current liabilities - 157,853 6,772 33,450 - 198,075 Total current liabilities - 542,699 11,252 290,801 (159,597 ) 685,155 Debt - 3,998,088 223,040 22,033 - 4,243,161 Amounts due to consolidated entities - 596,208 - 232,536 (828,744 ) - Deferred tax liabilities - 615,714 - 11,745 - 627,459 Other noncurrent liabilities - 305,901 7,071 7,372 - 320,344 Total liabilities - 6,058,610 241,363 564,487 (988,341 ) 5,876,119 Total stockholders' equity (deficit) 1,592,163 866,318 (18,436 ) 3,695 (872,377 ) 1,571,363 Noncontrolling interests in consolidated variable interest entities - - - 10,141 - 10,141 Total liabilities and stockholders' equity (deficit) $ 1,592,163 $ 6,924,928 $ 222,927 $ 578,323 $ (1,860,718 ) $ 7,457,623 CONDENSED CONSOLIDATING BALANCE SHEET As of December 31, 2017 (in thousands) Nexstar Non- Consolidated Nexstar Broadcasting Mission Guarantors Eliminations Company ASSETS Current assets: Cash and cash equivalents $ - $ 90,860 $ 9,524 $ 15,268 $ - $ 115,652 Accounts receivable - 484,096 14,717 64,130 - 562,943 Amounts due from consolidated entities - 55,417 92,923 - (148,340 ) - Spectrum asset - 279,069 - 26,695 - 305,764 Other current assets - 64,256 2,070 5,533 - 71,859 Total current assets - 973,698 119,234 111,626 (148,340 ) 1,056,218 Investments in subsidiaries 617,297 109,354 - - (726,651 ) - Amounts due from consolidated entities 970,207 - - - (970,207 ) - Property and equipment, net - 697,898 18,454 17,861 (75 ) 734,138 Goodwill - 1,959,386 33,187 150,273 - 2,142,846 FCC licenses - 1,615,830 43,102 108,706 - 1,767,638 Other intangible assets, net - 1,476,297 15,841 89,488 - 1,581,626 Other noncurrent assets - 189,303 2,645 7,233 - 199,181 Total assets $ 1,587,504 $ 7,021,766 $ 232,463 $ 485,187 $ (1,845,273 ) $ 7,481,647 LIABILITIES AND STOCKHOLDERS' EQUITY (DEFICIT) Current liabilities: Current portion of debt $ - $ 36,243 $ 2,314 $ 54,251 $ - $ 92,808 Accounts payable - 24,293 1,090 5,753 - 31,136 Liability to surrender spectrum asset - 286,740 - 27,347 - 314,087 Amounts due to consolidated entities - - - 148,340 (148,340 ) - Other current liabilities - 192,827 13,310 26,535 - 232,672 Total current liabilities - 540,103 16,714 262,226 (148,340 ) 670,703 Debt - 4,024,129 223,428 22,095 - 4,269,652 Amounts due to consolidated entities 714,408 - 256,010 (970,418 ) - Deferred tax liabilities - 613,227 - 6,214 - 619,441 Other noncurrent liabilities - 322,572 7,626 10,343 - 340,541 Total liabilities - 6,214,439 247,768 556,888 (1,118,758 ) 5,900,337 Total Nexstar Media Group, Inc. stockholders' equity (deficit) 1,587,504 807,327 (15,305 ) (82,397 ) (726,515 ) 1,570,614 Noncontrolling interest in a consolidated variable interest entity - - - 10,696 - 10,696 Total liabilities and stockholders' equity (deficit) $ 1,587,504 $ 7,021,766 $ 232,463 $ 485,187 $ (1,845,273 ) $ 7,481,647 CONDENSED CONSOLIDATING STATEMENT OF OPERATIONS Three Months Ended March 31, 2018 (in thousands) Nexstar Non- Consolidated Nexstar Broadcasting Mission Guarantors Eliminations Company Net broadcast revenue (including trade) $ - $ 549,681 $ 16,102 $ 49,498 $ - $ 615,281 Revenue between consolidated entities - 20,256 8,483 16,705 (45,389 ) 55 Net revenue - 569,937 24,585 66,203 (45,389 ) 615,336 Operating expenses (income): Direct operating expenses, excluding depreciation and amortization - 221,179 10,147 48,991 (1,354 ) 278,963 Selling, general, and administrative expenses, excluding depreciation and amortization - 136,185 1,216 11,306 (6,802 ) 141,905 Local service agreement fees between consolidated entities - 16,976 13,250 7,007 (37,233 ) - Amortization of broadcast rights - 14,995 412 693 - 16,100 Amortization of intangible assets - 29,845 544 5,913 - 36,302 Depreciation - 23,461 517 1,836 - 25,814 Reimbursement from the FCC related to station repack - (1,364 ) - - - (1,364 ) Total operating expenses - 441,277 26,086 75,746 (45,389 ) 497,720 Income (loss) from operations - 128,660 (1,501 ) (9,543 ) - 117,616 Interest expense, net - (51,034 ) (2,611 ) (944 ) - (54,589 ) Loss on extinguishment of debt - (1,005 ) - - - (1,005 ) Pension and other postretirement plans credit, net - 2,950 - - - 2,950 Other expenses - (129 ) - 2 - (127 ) Equity in income of subsidiaries 52,032 - - - (52,032 ) - Income (loss) before income taxes 52,032 79,442 (4,112 ) (10,485 ) (52,032 ) 64,845 Income tax (expense) benefit - (20,450 ) 981 1,965 - (17,504 ) Net income (loss) 52,032 58,992 (3,131 ) (8,520 ) (52,032 ) 47,341 Net loss attributable to noncontrolling interests - - - 781 - 781 Net income (loss) attributable to Nexstar $ 52,032 $ 58,992 $ (3,131 ) $ (7,739 ) $ (52,032 ) $ 48,122 CONDENSED CONSOLIDATING STATEMENT OF OPERATIONS Three Months Ended March 31, 2017 (in thousands) Nexstar Non- Consolidated Nexstar Broadcasting Mission Guarantors Eliminations Company Net broadcast revenue (including trade and barter) $ - $ 474,146 $ 17,908 $ 48,263 $ - $ 540,317 Revenue between consolidated entities - 14,070 8,822 (1,823 ) (21,069 ) - Net revenue - 488,216 26,730 46,440 (21,069 ) 540,317 Operating expenses (income): Direct operating expenses, excluding depreciation and amortization - 178,757 9,020 30,991 (39 ) 218,729 Selling, general, and administrative expenses, excluding depreciation and amortization - 166,476 973 11,650 (2,166 ) 176,933 Local service agreement fees between consolidated entities - 10,206 4,500 4,158 (18,864 ) - Amortization of broadcast rights - 21,461 1,398 1,608 - 24,467 Amortization of intangible assets - 41,366 636 6,156 - 48,158 Depreciation - 20,070 588 1,568 - 22,226 Gain on disposal of stations, net - (57,716 ) - - - (57,716 ) Total operating expenses - 380,620 17,115 56,131 (21,069 ) 432,797 Income (loss) from operations - 107,596 9,615 (9,691 ) - 107,520 Interest expense, net - (75,580 ) (2,650 ) (1,007 ) - (79,237 ) Loss on extinguishment of debt - (29,445 ) (2,133 ) (226 ) - (31,804 ) Pension and other postretirement plans credit, net - 2,631 - - - 2,631 Other income (expenses) - 324 - (431 ) - (107 ) Equity in income of subsidiaries 3,124 - - - (3,124 ) - Income (loss) before income taxes 3,124 5,526 4,832 (11,355 ) (3,124 ) (997 ) Income tax benefit (expense) - 3,861 (1,881 ) 3,961 - 5,941 Net income (loss) 3,124 9,387 2,951 (7,394 ) (3,124 ) 4,944 Net loss attributable to noncontrolling interests - - - 1,105 - 1,105 Net income (loss) attributable to Nexstar $ 3,124 $ 9,387 $ 2,951 $ (6,289 ) $ (3,124 ) $ 6,049 CONDENSED CONSOLIDATING STATEMENT OF CASH FLOWS Three Months Ended March 31, 2018 (in thousands) Nexstar Non- Consolidated Nexstar Broadcasting Mission Guarantors Eliminations Company Cash flows from operating activities $ - $ 171,164 $ (4,060 ) $ 12,261 $ - $ 179,365 Cash flows from investing activities: Purchases of property and equipment - (18,266 ) (830 ) (1,996 ) - (21,092 ) Deposits and payments for acquisitions - (82,790 ) - - - (82,790 ) Other investing activities - 2,847 - - - 2,847 Net cash used in investing activities - (98,209 ) (830 ) (1,996 ) - (101,035 ) Cash flows from financing activities: Proceeds from long-term debt - 44,000 - - - 44,000 Repayments of long-term debt - (73,061 ) (578 ) (940 ) - (74,579 ) Common stock dividends paid (17,288 ) - - - - (17,288 ) Purchase of treasury stock (33,820 ) - - - - (33,820 ) Inter-company payments 53,773 (53,773 ) - - - - Other financing activities (2,665 ) (735 ) - 226 - (3,174 ) Net cash used in financing activities - (83,569 ) (578 ) (714 ) - (84,861 ) Net (decrease) increase in cash, cash equivalents and restricted cash - (10,614 ) (5,468 ) 9,551 - (6,531 ) Cash, cash equivalents and restricted cash at beginning of period - 90,860 9,524 15,268 - 115,652 Cash, cash equivalents and restricted cash at end of period $ - $ 80,246 $ 4,056 $ 24,819 $ - $ 109,121 CONDENSED CONSOLIDATING STATEMENT OF CASH FLOWS Three Months Ended March 31, 2017 (in thousands) Nexstar Non- Consolidated Nexstar Broadcasting Mission Guarantors Eliminations Company Cash flows from operating activities $ - $ (50,645 ) $ (4,212 ) $ 7,072 $ - $ (47,785 ) Cash flows from investing activities: Purchases of property and equipment - (12,381 ) (74 ) (1,459 ) - (13,914 ) Deposits and payments for acquisitions - (2,970,394 ) (800 ) - - (2,971,194 ) Proceeds from sale of a station - 481,944 - - - 481,944 Other investing activities - 404 - - - 404 Net cash used in investing activities - (2,500,427 ) (874 ) (1,459 ) - (2,502,760 ) Cash flows from financing activities: Proceeds from long-term debt - 2,797,106 230,840 53,915 - 3,081,861 Repayments of long-term debt - (1,041,607 ) (225,892 ) (53,300 ) - (1,320,799 ) Premium paid on debt extinguishment - (18,050 ) - - - (18,050 ) Purchase of noncontrolling interests - (66,901 ) - - - (66,901 ) Common stock dividends paid (14,106 ) - - - (14,106 ) Payments for debt financing costs - (47,578 ) (3,779 ) - - (51,357 ) Inter-company payments 15,123 (15,123 ) - - - - Other financing activities (1,017 ) 91 - (1,764 ) - (2,690 ) Net cash provided by (used in) financing activities - 1,607,938 1,169 (1,149 ) - 1,607,958 Net (decrease) increase in cash, cash equivalents and restricted cash - (943,134 ) (3,917 ) 4,464 - (942,587 ) Cash, cash equivalents and restricted cash at beginning of period - 1,003,629 6,478 5,372 - 1,015,479 Cash, cash equivalents and restricted cash at end of period $ - $ 60,495 $ 2,561 $ 9,836 $ - $ 72,892

Subsequent Events

Subsequent Events	3 Months Ended
	Mar. 31, 2018
Subsequent Events [Abstract]
Subsequent Events	16. Subsequent Events On April 1, 2018, Nexstar surrendered the spectrum, but not the FCC license authorization, of WYCW, the CW affiliate in the Spartanburg, South Carolina market, to the FCC pursuant to the spectrum auction concluded in 2017. WYCW is now operating under a channel sharing agreement with WSPA, a commonly-owned station in the same market. WYCW’s surrender of spectrum to the FCC resulted in the derecognition of the associated spectrum asset and the liability to surrender spectrum, both amounting to $45.6 million. On April 10, 2018, Nexstar granted 222,000 restricted stock units to employees with an estimated fair value of $13.4 million. On April 23, 2018, Nexstar surrendered the spectrum, but not the FCC license authorization, of WIVB, the CBS affiliate in the Buffalo, New York market and WKBN, the CBS affiliate in the Youngstown, Ohio market, to the FCC pursuant to the spectrum auction concluded in 2017. WIVB is now operating under a channel sharing agreement with WNLO, a commonly-owned station in the same market. WKBN is now operating under a channel sharing agreement with WYTV, a station owned by Vaughan (VIE). The stations’ surrender of their spectrum to the FCC resulted in the derecognition of the associated spectrum asset and the liability to surrender spectrum, both amounting to $80.2 million. On April 26, 2018, Nexstar’s Board of Directors declared a quarterly cash dividend of $0.375 per share of its Class A common stock. The dividend is payable on May 25, 2018 to stockholders of record on May 11, 2018. On April 27, 2018, the Company paid the remaining purchase price for the acquisition of LKQD of $2.9 million, representing the final working capital adjustment (See Note 3). On May 1, 2018, Nexstar’s Board of Directors approved an increase in the Company’s share repurchase authorization to repurchase up to an additional $200.0 million of its Class A common stock. The expansion brings the total capacity under Nexstar’s share repurchase program to approximately $218.6 million when combined with the remaining balance under its prior authorization as of March 31, 2018 of $18.6 million.

Summary of Significant Accoun23

Summary of Significant Accounting Policies (Policies)	3 Months Ended
	Mar. 31, 2018
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. 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): March 31, 2018 December 31, 2017 Current assets Spectrum asset $ 26,695 $ 26,695 Other current assets 18,839 22,038 Total current assets 45,534 48,733 Property and equipment, net 7,264 7,517 Goodwill 121,601 130,362 FCC licenses 151,808 151,808 Other intangible assets, net 80,252 81,916 Other noncurrent assets, net 1,937 6,543 Total assets 408,396 426,879 Current Liabilities Liability to surrender spectrum asset $ 27,347 $ 27,347 Other current liabilities 17,214 24,146 Total current liabilities 44,561 51,493 Noncurrent liabilities 25,256 30,339 Total liabilities $ 69,817 $ 81,832
Liquidity	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	Interim Financial Statements The Condensed Consolidated Financial Statements as of March 31, 2018 and for the three months ended March 31, 2018 and 2017 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, 2017. The balance sheet as of December 31, 2017 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 Nexstar consolidates entities in which Nexstar is deemed under U.S. GAAP to have controlling financial interests 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 certain VIEs’ senior secured credit facilities (see Note 7), (3) Nexstar having power over significant activities affecting these VIEs’ economic performance, including budgeting for advertising revenue, certain advertising sales and, in some cases, hiring and firing of sales force personnel and (4) purchase options granted by each VIE, exclusive of Marshall Broadcasting Group, Inc. (“Marshall”), which permit Nexstar to acquire the assets and assume the liabilities of each of the VIEs’ stations, subject to Federal Communications Commission (“FCC”) consent. The following table summarizes the various local service agreements Nexstar had in effect as of March 31, 2018 with its consolidated VIEs: Service Agreements Owner Full Power Stations TBA Only Mission Broadcasting, Inc. (“Mission”) WFXP, KHMT and KFQX LMA Only WNAC, LLC WNAC 54 Broadcasting, Inc. (“54 Broadcasting”) KNVA SSA & JSA Mission KJTL, KLRT, KASN, KOLR, KCIT, KAMC, KRBC, KSAN, WUTR, WAWV, WYOU, KODE, WTVO, KTVE, WTVW and WVNY White Knight Broadcasting (“White Knight”) WVLA, KFXK, KSHV Shield Media, LLC (“Shield”) WXXA and WLAJ Vaughan Media, LLC (“Vaughan”) WBDT, WYTV and KTKA SSA Only Marshall KLJB, KPEJ and KMSS Tamer Media, LLC (“Tamer”) KWBQ, KASY and KRWB Nexstar’s ability to receive cash from its VIEs 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, each VIE maintains complete responsibility for and control over programming, finances, personnel and operations of its 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): March 31, 2018 December 31, 2017 Current assets: Cash and cash equivalents $ 11,515 $ 17,180 Accounts receivable, net 23,611 24,407 Spectrum asset 26,695 26,695 Prepaid expenses and other current assets 3,795 6,762 Total current assets 65,616 75,044 Property and equipment, net 25,359 25,971 Goodwill 154,788 163,549 FCC licenses 151,808 151,808 Other intangible assets, net 95,549 97,757 Other noncurrent assets, net 5,099 9,443 Total assets $ 498,219 $ 523,572 Current liabilities: Current portion of debt $ 55,931 $ 56,565 Interest payable 1,123 994 Liability to surrender spectrum asset 27,347 27,347 Other current liabilities 17,214 24,146 Total current liabilities 101,615 109,052 Debt 245,073 245,523 Other noncurrent liabilities 25,256 30,594 Total liabilities $ 371,944 $ 385,169 Non-Consolidated VIEs Nexstar has an outsourcing agreement with Cunningham Broadcasting Corporation (“Cunningham”), which continues through December 31, 2021. 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 Nexstar’s 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 arising from Nexstar’s outsourcing agreement with Cunningham.
Revenue Recognition	Revenue Recognition As discussed in Recent Accounting Pronouncements below, the Company adopted the FASB issued ASU No. 2014-09, Revenue from Contracts with Customers (Topic 606) and all related amendments. ASC 606 establishes a comprehensive new revenue recognition model designed to depict the transfer of goods or services to a customer in an amount that reflects the consideration the entity expects to be entitled to receive in exchange for those goods or services and requires significantly enhanced revenue disclosures. The Company adopted this standard effective January 1, 2018 using the modified retrospective method as applied to customer contracts that were not completed as of January 1, 2018. As a result, financial information for reporting periods beginning after January 1, 2018 is presented under ASC 606, while comparative financial information has not been adjusted and continues to be reported in accordance with the Company’s historical accounting policy for revenue recognition prior to the adoption of ASC 606. The Company’s revenue is primarily derived from the sale of advertising and the compensation received from cable, satellite and other multichannel video programming distributors (“MVPDs”) in its markets in return for the Company’s consent to the retransmission of the signals of its television stations. Total revenue includes advertising revenue, retransmission compensation, digital revenue and other broadcast related revenues. The Company determines whether gross or net presentation is appropriate based on its relationship in the applicable transaction with its ultimate customer. Any amounts paid by customers but not earned as of the balance sheet date are recorded as a contract liability (deferred revenue). The lag between billing the customers and when the payment is due is not significant. The stations’ advertising contracts are short-term in nature and include a number of spots that are delivered over the term of the arrangement. Advertising revenue is recognized, for the amount the Company is entitled to receive, when the advertisements are broadcast on its stations (local, national and political revenue) or delivered on the stations’ websites (digital revenue). The Company’s retransmission consent agreements with MVPDs generally have a three-year term and provides revenue based on the number of subscribers. Under ASC 606, these revenues are considered arising from the licenses of intellectual property. As such, the Company applies the exception for sales- or usage- based royalty for the accounting of variable consideration and recognizes revenue when the underlying usage occurs. Retransmission compensation is recognized as the content is transferred to the MVPDs and is based on a price per subscriber. The MVPDs report their subscriber numbers to the Company on a 30- to 60-day lag, which coincides with their payment of the fees due to the Company. Prior to receiving the report from the MVPDs, the Company records revenue based on estimated subscribers and the monthly amount the Company is entitled to receive per subscriber. The impact of the lag is not significant. Revenue from the Company’s other digital businesses includes revenue from digital publishing and content management platforms, digital video advertising platform, social media advertising platform and related services. Revenue is recognized at the time advertising is delivered or upon performance of services. The Company applies the right to invoice practical expedient to certain transactions where the invoice amount corresponds directly with the value to our customers. Most of the arrangements with customers are short-term in nature. The Company trades certain advertising time for various goods and services. These transactions are short-term in nature and are recorded at the estimated fair value of the goods or services received. Revenue from trade transactions is recognized when the related advertisement spots are broadcast. The Company recorded $2.8 million and $2.2 million of trade revenue during the three months ended March 31, 2018 and 2017, respectively. The above revenue recognition policies are consistent with the Company’s historical accounting policies prior to the adoption of ASC 606. Effective on January 1, 2018, the Company no longer recognizes barter revenue (and the related barter expense) resulting from the exchange of advertising time for certain program material. During the three months ended March 31, 2017, barter revenue and barter expense were $10.2 million and $10.2 million, respectively. The barter expense was included in amortization of broadcast rights in the accompanying Condensed Consolidated Statement of Operations. Under the Company’s historical accounting policy prior to the adoption of ASC 606, barter revenue and barter expense would have been $11.0 million and $11.0 million, respectively, during the three months ended March 31, 2018. In addition, the current barter assets (and the related current barter liabilities) would have been $8.2 million, and the noncurrent barter assets (and the related noncurrent barter liabilities) would have been $10.6 million as of March 31, 2018. The Company elected to utilize the practical expedient around costs incurred to obtain a contract for television advertising and digital advertising due to their short-term nature. Additionally, the incremental benefit from efforts in acquiring these contracts is considered not significant. Thus, the Company continued to expense sales commissions when incurred. The Company did not disclose the value of unsatisfied performance obligations on its contracts with customers because they are either (i) contracts with an original expected term of one year or less, (ii) contracts for which the sales- or usage- based royalty exception was applied, or (ii) contracts for which revenue is recognized in proportion to the amount the Company has the right to invoice for services performed. See Note 9 for additional disclosures on revenue from contracts with customers.
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 in connection with the acquisition of Likqid Media Inc. (“LKQD”). 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. As discussed under Recent Accounting Pronouncements, as of January 1, 2018 the Company adopted ASU No. 2017-07 which requires entities to (1) disaggregate the current-service-cost component from the other components of net benefit cost (the “other components”) and present such current-service-costs in the same income statement line item as other compensation costs for services rendered by the pertinent employees during the period and (2) present the other components in the income statement separately from the service cost component and outside a subtotal of income from operations. The Company had no service costs during the three months ended March 31, 2018 and 2017. In accordance with this adoption, the net periodic benefit cost, which consists of interest costs and expected return on plan assets, is disclosed on a separate line below income from operations in the Condensed Consolidated Statements of Operations.
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 March 31, 2018 2017 Weighted average shares outstanding - basic 46,075 44,200 Dilutive effect of equity incentive plan instruments 1,610 1,219 Weighted average shares outstanding - diluted 47,685 45,419 Stock options and restricted stock units to acquire a weighted average of 76,000 shares and 550,000 shares for the three months ended March 31, 2018 and 2017, 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 New Accounting Standards Adopted In May 2014, the FASB issued ASU No. 2014-09, Revenue from Contracts with Customers (Topic 606) and all related amendments. The Company adopted this standard effective January 1, 2018 using the modified retrospective method as applied to customer contracts that were not completed as of January 1, 2018. Upon adoption of this standard, the cumulative adjustment to the Company’s retained earnings as of January 1, 2018 for the cumulative effect of initially applying the new standard In August 2016, the FASB issued ASU No. 2016-15, Statement of Cash Flows (Topic 230) Classification of Certain Cash Receipts and Cash Payments (a consensus of the Emerging Issues Task Force) (ASU 2016-15). The amendments in ASU 2016-15 address eight specific cash flow issues and apply to all entities that are required to present a statement of cash flows under FASB Accounting Standards Codification 230, Statement of Cash Flows. The amendments in ASU 2016-15 are effective for fiscal years, and interim periods within those years, beginning after December 15, 2017. The Company has applied the change in accounting as of January 1, 2018 on a retrospective basis. This adoption impacted Nexstar’s previous financing activity classification of payments for contingent consideration related to an acquisition of $5.0 million in the Condensed Consolidated Statement of Cash Flows during the three months ended March 31, 2017. The payment was not made soon after the consummation of a business combination and includes $4.0 million more than the acquisition date fair value of the contingent consideration liability. Under ASU 2016-15, this portion of the transaction should be classified as an operating activity in the Condensed Consolidated Statement of Cash Flows. As such, the amount previously reported as net cash used in operating activities was increased by $4.0 million and the amount previously reported as net cash used in financing activities were decreased by $4.0 million. 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. The Company has applied the change in accounting as of January 1, 2018 on a retrospective basis. This adoption impacted the release of a restricted escrow deposit into Nexstar’s operating cash during the three months ended March 31, 2017. In July 2016, Nexstar issued its $900 million 5.625% Senior Unsecured Notes (the “5.625% Notes”) at par, the gross proceeds of which were directly deposited into a restricted escrow account. Interest on these notes is payable semiannually but Nexstar was required to pre-fund interest on such notes monthly from July 2016 to December 2016, all of which was also deposited in the restricted escrow account. As of December 31, 2016, the restricted escrow account had a balance of $927.8 million. In January 2017, Nexstar completed its merger with Media General, Inc. (“Media General”). As a result, the funds previously deposited in the restricted escrow account, including the pre-funded interests, were released to Nexstar’s operating cash. On February 1, 2017, Nexstar paid the first interest due to the lenders of the 5.625% Notes of $25.9 million. During the three months ended March 31, 2017, Nexstar previously classified the effects of these transactions in its Condensed Consolidated Statement of Cash Flows as follows: (i) $21.6 million source of cash from operating activities, under change in prepaid expenses and other current assets line item, (ii) $5.1 million source of cash from investing activities, (iii) $900.0 million source of cash from financing activities, under proceeds from long-term debt line item, (iv) $1.1 million source of cash from operating activities under change in other noncurrent assets line item, and (v) no cash flow reported in 2017 for the payment of interest on the 5.625% Notes as the cash flow impact was reported in 2016, when the pre-funding was made. Under ASU 2016-18, transfers between cash, cash equivalents, and amounts generally described as restricted cash or restricted cash equivalents are not part of an entity’s operating, investing, and financing activities, and details of those transfers are not reported as cash flow activities in the statement of cash flows. As such, the previous classification in the Condensed Consolidated Statement of Cash Flows related to these transactions was reversed, resulting in an increase in net cash used in operating activities of $22.7 million, an increase in net cash used in investing activities of $5.1 million and a decrease in net cash provided by financing activities of $900.0 million during the three months ended March 31, 2017. Additionally, the cash, cash equivalents and restricted cash at the beginning of the period in 2017 increased by $927.8 million and the supplemental cash flow information for interest paid increased by $25.9 million in 2017. 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 Company has applied the change in accounting as of January 1, 2018. The adoption of this ASU did not impact 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 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. The Company has applied the change in accounting as of January 1, 2018. Accordingly, net periodic benefit, net of service costs, of $2.8 million for the three months ended March 31, 2017 were adjusted out of selling, general, and administrative expenses and separately stated below income from operations. 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. ASU 2017-09 is effective for fiscal years beginning after December 15, 2017, including interim periods within those fiscal years. The Company has applied the change in accounting as of January 1, 2018. The adoption of this ASU did not impact the Company's Consolidated Financial Statements. In February 2018, the FASB issued ASU No. 2018-02, Reporting Comprehensive Income: Reclassification of Certain Tax Effects from Accumulated Other Comprehensive Income. ASU 2018-02 provides the option to reclassify stranded tax effects related to the U.S. Tax Cuts and Jobs Act of 2017 in accumulated other comprehensive income to retained earnings. The adjustment relates to the change in the U.S. corporate income tax rate. The adoption of this ASU did not impact the Company's Consolidated Financial Statements. New Accounting Standards Not Yet Adopted 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. In January 2018, the FASB issued ASU No. 2018-01 to address the accounting treatment of land easements within the context of ASU No. 2016-02, Leases (Topic 842). ASU 2018-01 provides an optional transition practical expedient to not evaluate under Topic 842 existing or expired land easements that were not previously accounted for as leases under the current leases guidance in Topic 840. 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 June 2016, the FASB issued ASU No. 2016-13, “Financial Instruments - Credit Losses (Topic 326).” The standard requires entities to estimate loss of financial assets measured at amortized cost, including trade receivables, debt securities and loans, using an expected credit loss model. The expected credit loss differs from the previous incurred losses model primarily in that the loss recognition threshold of “probable” has been eliminated and that expected loss should consider reasonable and supportable forecasts in addition to the previously considered past events and current conditions. Additionally, the guidance requires additional disclosures related to the further disaggregation of information related to the credit quality of financial assets by year of the asset’s origination for as many as five years. Entities must apply the standard provision as a cumulative-effect adjustment to retained earnings as of the beginning of the first reporting period in which the guidance is effective. The standard is effective for fiscal years beginning after December 15, 2019, and interim periods within those fiscal years. Early adoption is permitted for annual periods beginning after December 15, 2018, and interim periods within those fiscal years. The Company is currently evaluating the impact of adopting ASU 2016-13 on its consolidated financial statements.

Summary of Significant Accoun24

Summary of Significant Accounting Policies (Tables)	3 Months Ended
	Mar. 31, 2018
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): March 31, 2018 December 31, 2017 Current assets: Cash and cash equivalents $ 11,515 $ 17,180 Accounts receivable, net 23,611 24,407 Spectrum asset 26,695 26,695 Prepaid expenses and other current assets 3,795 6,762 Total current assets 65,616 75,044 Property and equipment, net 25,359 25,971 Goodwill 154,788 163,549 FCC licenses 151,808 151,808 Other intangible assets, net 95,549 97,757 Other noncurrent assets, net 5,099 9,443 Total assets $ 498,219 $ 523,572 Current liabilities: Current portion of debt $ 55,931 $ 56,565 Interest payable 1,123 994 Liability to surrender spectrum asset 27,347 27,347 Other current liabilities 17,214 24,146 Total current liabilities 101,615 109,052 Debt 245,073 245,523 Other noncurrent liabilities 25,256 30,594 Total liabilities $ 371,944 $ 385,169
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 March 31, 2018 2017 Weighted average shares outstanding - basic 46,075 44,200 Dilutive effect of equity incentive plan instruments 1,610 1,219 Weighted average shares outstanding - diluted 47,685 45,419
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): March 31, 2018 December 31, 2017 Current assets Spectrum asset $ 26,695 $ 26,695 Other current assets 18,839 22,038 Total current assets 45,534 48,733 Property and equipment, net 7,264 7,517 Goodwill 121,601 130,362 FCC licenses 151,808 151,808 Other intangible assets, net 80,252 81,916 Other noncurrent assets, net 1,937 6,543 Total assets 408,396 426,879 Current Liabilities Liability to surrender spectrum asset $ 27,347 $ 27,347 Other current liabilities 17,214 24,146 Total current liabilities 44,561 51,493 Noncurrent liabilities 25,256 30,339 Total liabilities $ 69,817 $ 81,832

Acquisitions (Tables)

Acquisitions (Tables)	3 Months Ended
	Mar. 31, 2018
LKQD [Member]
Business Acquisition [Line Items]
Schedule of Assets Acquired and Liabilities Assumed	Subject to final determination, which is expected to occur within 12 months of the acquisition date, the provisional fair values of the assets acquired and liabilities assumed in the acquisition are as follows (in thousands): Cash and cash equivalents $ 11,166 Accounts receivable 25,956 Property and equipment 210 Other intangible assets 45,321 Goodwill 41,152 Total assets acquired and consolidated 123,805 Less: Accounts payable and accrued expenses (18,815 ) Less: Taxes payable (1,255 ) Less: Deferred tax liabilities (6,828 ) Net assets acquired and consolidated $ 96,907

Intangible Assets and Goodwill

Intangible Assets and Goodwill (Tables)	3 Months Ended
	Mar. 31, 2018
Goodwill And Intangible Assets Disclosure [Abstract]
Intangible Assets Subject to Amortization	Intangible assets subject to amortization consisted of the following (in thousands): Estimated March 31, 2018 December 31, 2017 useful life, Accumulated Accumulated in years Gross Amortization Net Gross Amortization Net Network affiliation agreements 15 $ 1,971,170 $ (490,375 ) $ 1,480,795 $ 1,971,170 $ (461,345 ) $ 1,509,825 Other definite-lived intangible assets 1-20 $ 240,382 $ (128,560 ) 111,822 193,089 (121,288 ) 71,801 Other intangible assets $ 2,211,552 $ (618,935 ) $ 1,592,617 $ 2,164,259 $ (582,633 ) $ 1,581,626
Estimated Amortization Expense of Definite-Lived Intangible Assets	The following table presents the Company’s estimate of amortization expense for the remainder of 2018, each of the five succeeding years ended December 31 and thereafter for definite-lived intangible assets as of March 31, 2018 (in thousands): Remainder of 2018 $ 108,458 2019 138,226 2020 129,737 2021 118,694 2022 113,295 2023 112,020 Thereafter 872,187 $ 1,592,617
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, 2017 $ 2,212,755 $ (69,909 ) $ 2,142,846 $ 1,815,048 $ (47,410 ) $ 1,767,638 Acquisitions (See Note 3) 41,152 - 41,152 - - - Balances as of March 31, 2018 $ 2,253,907 $ (69,909 ) $ 2,183,998 $ 1,815,048 $ (47,410 ) $ 1,767,638

Accrued Expenses (Tables)

Accrued Expenses (Tables)	3 Months Ended
	Mar. 31, 2018
Payables And Accruals [Abstract]
Accrued Expenses	Accrued expenses consisted of the following (in thousands): March 31, December 31, 2018 2017 Compensation and related taxes $ 42,303 $ 44,775 Network affiliation fees 49,494 68,197 Other 53,570 46,309 $ 145,367 $ 159,281

Retirement and Postretirement28

Retirement and Postretirement Plans (Tables)	3 Months Ended
	Mar. 31, 2018
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 thousands): Three Months Ended March 31, 2018 Pension Benefits Other Benefits Interest cost $ 3,350 $ 150 Expected return on plan assets (6,450 ) - Net periodic benefit (income) cost $ (3,100 ) $ 150 Three Months Ended March 31, 2017 Pension Benefits Other Benefits Interest cost $ 3,261 $ 130 Expected return on plan assets (6,022 ) - Net periodic benefit (income) cost $ (2,761 ) $ 130

Debt (Tables)

Debt (Tables)	3 Months Ended
	Mar. 31, 2018
Debt Disclosure [Abstract]
Long Term Debt	Long-term debt consisted of the following (in thousands): March 31, December 31, 2018 2017 Term loans, net of financing costs and discount of $54,146 and $57,547, respectively $ 2,744,697 $ 2,791,875 Revolving loans 23,000 3,000 6.125% Senior unsecured notes due 2022, net of financing costs of $1,885 and $1,992, respectively 273,115 273,008 5.875% Senior unsecured notes due 2022, plus premium of $7,624 407,624 408,102 5.625% Senior unsecured notes due 2024, net of financing costs of $13,101 and $13,525, respectively 886,899 886,475 4,335,335 4,362,460 Less: current portion (92,174 ) (92,808 ) $ 4,243,161 $ 4,269,652
Fair Value of Debt	The aggregate carrying amounts and estimated fair values of the Company’s debt were as follows (in thousands): March 31, 2018 December 31, 2017 Carrying Fair Carrying Fair Amount Value Amount Value Term loans (1) $ 2,744,697 $ 2,786,410 $ 2,791,875 $ 2,852,199 Revolving loans (1) 23,000 22,661 3,000 2,985 6.125% Senior unsecured notes (2) 273,115 283,250 273,008 284,625 5.875% Senior unsecured notes (2) 407,624 412,500 408,102 415,500 5.625% Senior unsecured notes (2) 886,899 892,125 886,475 925,875 (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.

Revenue (Tables)

Revenue (Tables)	3 Months Ended
	Mar. 31, 2018
ASC 606 [Member]
Revenue Initial Application Period Cumulative Effect Transition [Line Items]
Summary of Disaggregation of Revenue	The following table presents the disaggregation of our revenue for first quarter 2018 under ASC 606. First quarter 2017 revenues are presented in accordance with the Company’s historical accounting standard prior to the adoption of ASC 606 (in thousands): Three Months Ended March 31, 2018 Broadcast Other Consolidated Local $ 193,268 $ - $ 193,268 National 67,045 - 67,045 Political 9,266 - 9,266 Retransmission compensation 275,941 - 275,941 Digital 24,468 38,336 62,804 Other 4,154 15 4,169 Trade revenue 2,843 - 2,843 Total revenue $ 576,985 $ 38,351 $ 615,336 Three Months Ended March 31, 2017 Broadcast Other Consolidated Local $ 178,476 $ - $ 178,476 National 65,982 - 65,982 Political 1,696 - 1,696 Retransmission compensation 231,895 - 231,895 Digital 16,949 28,416 45,365 Other 3,727 734 4,461 Trade and barter revenue 12,442 - 12,442 Total revenue $ 511,167 $ 29,150 $ 540,317

Segment Data (Tables)

Segment Data (Tables)	3 Months Ended
	Mar. 31, 2018
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 March 31, 2018 Broadcast Other Consolidated Net revenue $ 576,985 $ 38,351 $ 615,336 Depreciation 21,400 4,414 25,814 Amortization of intangible assets 32,053 4,249 36,302 Income (loss) from operations 152,567 (34,951 ) 117,616 Three Months Ended March 31, 2017 Broadcast Other Consolidated Net revenue $ 511,167 $ 29,150 $ 540,317 Depreciation 16,942 5,284 22,226 Amortization of intangible assets 45,933 2,225 48,158 Income (loss) from operations 187,077 (79,557 ) 107,520 As of March 31, 2018 Broadcast Other Consolidated Goodwill $ 2,122,935 $ 61,063 $ 2,183,998 Assets 6,623,759 833,864 7,457,623 As of December 31, 2017 Broadcast Other Consolidated Goodwill $ 2,122,935 $ 19,911 $ 2,142,846 Assets 6,723,685 757,962 7,481,647

Condensed Consolidating Finan32

Condensed Consolidating Financial Information (Tables)	3 Months Ended
	Mar. 31, 2018
Condensed Financial Information Of Parent Company Only Disclosure [Abstract]
Schedule of Condensed Consolidating Balance Sheet	CONDENSED CONSOLIDATING BALANCE SHEET As of March 31, 2018 (in thousands) Nexstar Non- Consolidated Nexstar Broadcasting Mission Guarantors Eliminations Company ASSETS Current assets: Cash and cash equivalents $ - $ 80,246 $ 4,056 $ 24,819 $ - $ 109,121 Accounts receivable - 445,786 14,809 82,130 - 542,725 Amounts due from consolidated entities - 69,594 90,003 - (159,597 ) - Spectrum asset - 279,078 - 26,695 - 305,773 Other current assets - 39,173 1,216 3,621 - 44,010 Total current assets - 913,877 110,084 137,265 (159,597 ) 1,001,629 Investments in subsidiaries 763,631 108,884 - - (872,515 ) - Amounts due from consolidated entities 828,532 - - - (828,532 ) - Property and equipment, net - 691,012 18,095 16,240 (74 ) 725,273 Goodwill - 1,968,147 33,187 182,664 - 2,183,998 FCC licenses - 1,615,830 43,102 108,706 - 1,767,638 Other intangible assets, net - 1,446,452 15,297 130,868 - 1,592,617 Other noncurrent assets - 180,726 3,162 2,580 - 186,468 Total assets $ 1,592,163 $ 6,924,928 $ 222,927 $ 578,323 $ (1,860,718 ) $ 7,457,623 LIABILITIES AND STOCKHOLDERS' EQUITY (DEFICIT) Current liabilities: Current portion of debt $ - $ 36,243 $ 2,314 $ 53,617 $ - $ 92,174 Accounts payable - 61,863 2,166 16,790 - 80,819 Liability to surrender spectrum asset - 286,740 - 27,347 - 314,087 Amounts due to consolidated entities - - - 159,597 (159,597 ) - Other current liabilities - 157,853 6,772 33,450 - 198,075 Total current liabilities - 542,699 11,252 290,801 (159,597 ) 685,155 Debt - 3,998,088 223,040 22,033 - 4,243,161 Amounts due to consolidated entities - 596,208 - 232,536 (828,744 ) - Deferred tax liabilities - 615,714 - 11,745 - 627,459 Other noncurrent liabilities - 305,901 7,071 7,372 - 320,344 Total liabilities - 6,058,610 241,363 564,487 (988,341 ) 5,876,119 Total stockholders' equity (deficit) 1,592,163 866,318 (18,436 ) 3,695 (872,377 ) 1,571,363 Noncontrolling interests in consolidated variable interest entities - - - 10,141 - 10,141 Total liabilities and stockholders' equity (deficit) $ 1,592,163 $ 6,924,928 $ 222,927 $ 578,323 $ (1,860,718 ) $ 7,457,623 CONDENSED CONSOLIDATING BALANCE SHEET As of December 31, 2017 (in thousands) Nexstar Non- Consolidated Nexstar Broadcasting Mission Guarantors Eliminations Company ASSETS Current assets: Cash and cash equivalents $ - $ 90,860 $ 9,524 $ 15,268 $ - $ 115,652 Accounts receivable - 484,096 14,717 64,130 - 562,943 Amounts due from consolidated entities - 55,417 92,923 - (148,340 ) - Spectrum asset - 279,069 - 26,695 - 305,764 Other current assets - 64,256 2,070 5,533 - 71,859 Total current assets - 973,698 119,234 111,626 (148,340 ) 1,056,218 Investments in subsidiaries 617,297 109,354 - - (726,651 ) - Amounts due from consolidated entities 970,207 - - - (970,207 ) - Property and equipment, net - 697,898 18,454 17,861 (75 ) 734,138 Goodwill - 1,959,386 33,187 150,273 - 2,142,846 FCC licenses - 1,615,830 43,102 108,706 - 1,767,638 Other intangible assets, net - 1,476,297 15,841 89,488 - 1,581,626 Other noncurrent assets - 189,303 2,645 7,233 - 199,181 Total assets $ 1,587,504 $ 7,021,766 $ 232,463 $ 485,187 $ (1,845,273 ) $ 7,481,647 LIABILITIES AND STOCKHOLDERS' EQUITY (DEFICIT) Current liabilities: Current portion of debt $ - $ 36,243 $ 2,314 $ 54,251 $ - $ 92,808 Accounts payable - 24,293 1,090 5,753 - 31,136 Liability to surrender spectrum asset - 286,740 - 27,347 - 314,087 Amounts due to consolidated entities - - - 148,340 (148,340 ) - Other current liabilities - 192,827 13,310 26,535 - 232,672 Total current liabilities - 540,103 16,714 262,226 (148,340 ) 670,703 Debt - 4,024,129 223,428 22,095 - 4,269,652 Amounts due to consolidated entities 714,408 - 256,010 (970,418 ) - Deferred tax liabilities - 613,227 - 6,214 - 619,441 Other noncurrent liabilities - 322,572 7,626 10,343 - 340,541 Total liabilities - 6,214,439 247,768 556,888 (1,118,758 ) 5,900,337 Total Nexstar Media Group, Inc. stockholders' equity (deficit) 1,587,504 807,327 (15,305 ) (82,397 ) (726,515 ) 1,570,614 Noncontrolling interest in a consolidated variable interest entity - - - 10,696 - 10,696 Total liabilities and stockholders' equity (deficit) $ 1,587,504 $ 7,021,766 $ 232,463 $ 485,187 $ (1,845,273 ) $ 7,481,647
Schedule of Condensed Consolidating Statement of Operations	CONDENSED CONSOLIDATING STATEMENT OF OPERATIONS Three Months Ended March 31, 2018 (in thousands) Nexstar Non- Consolidated Nexstar Broadcasting Mission Guarantors Eliminations Company Net broadcast revenue (including trade) $ - $ 549,681 $ 16,102 $ 49,498 $ - $ 615,281 Revenue between consolidated entities - 20,256 8,483 16,705 (45,389 ) 55 Net revenue - 569,937 24,585 66,203 (45,389 ) 615,336 Operating expenses (income): Direct operating expenses, excluding depreciation and amortization - 221,179 10,147 48,991 (1,354 ) 278,963 Selling, general, and administrative expenses, excluding depreciation and amortization - 136,185 1,216 11,306 (6,802 ) 141,905 Local service agreement fees between consolidated entities - 16,976 13,250 7,007 (37,233 ) - Amortization of broadcast rights - 14,995 412 693 - 16,100 Amortization of intangible assets - 29,845 544 5,913 - 36,302 Depreciation - 23,461 517 1,836 - 25,814 Reimbursement from the FCC related to station repack - (1,364 ) - - - (1,364 ) Total operating expenses - 441,277 26,086 75,746 (45,389 ) 497,720 Income (loss) from operations - 128,660 (1,501 ) (9,543 ) - 117,616 Interest expense, net - (51,034 ) (2,611 ) (944 ) - (54,589 ) Loss on extinguishment of debt - (1,005 ) - - - (1,005 ) Pension and other postretirement plans credit, net - 2,950 - - - 2,950 Other expenses - (129 ) - 2 - (127 ) Equity in income of subsidiaries 52,032 - - - (52,032 ) - Income (loss) before income taxes 52,032 79,442 (4,112 ) (10,485 ) (52,032 ) 64,845 Income tax (expense) benefit - (20,450 ) 981 1,965 - (17,504 ) Net income (loss) 52,032 58,992 (3,131 ) (8,520 ) (52,032 ) 47,341 Net loss attributable to noncontrolling interests - - - 781 - 781 Net income (loss) attributable to Nexstar $ 52,032 $ 58,992 $ (3,131 ) $ (7,739 ) $ (52,032 ) $ 48,122 CONDENSED CONSOLIDATING STATEMENT OF OPERATIONS Three Months Ended March 31, 2017 (in thousands) Nexstar Non- Consolidated Nexstar Broadcasting Mission Guarantors Eliminations Company Net broadcast revenue (including trade and barter) $ - $ 474,146 $ 17,908 $ 48,263 $ - $ 540,317 Revenue between consolidated entities - 14,070 8,822 (1,823 ) (21,069 ) - Net revenue - 488,216 26,730 46,440 (21,069 ) 540,317 Operating expenses (income): Direct operating expenses, excluding depreciation and amortization - 178,757 9,020 30,991 (39 ) 218,729 Selling, general, and administrative expenses, excluding depreciation and amortization - 166,476 973 11,650 (2,166 ) 176,933 Local service agreement fees between consolidated entities - 10,206 4,500 4,158 (18,864 ) - Amortization of broadcast rights - 21,461 1,398 1,608 - 24,467 Amortization of intangible assets - 41,366 636 6,156 - 48,158 Depreciation - 20,070 588 1,568 - 22,226 Gain on disposal of stations, net - (57,716 ) - - - (57,716 ) Total operating expenses - 380,620 17,115 56,131 (21,069 ) 432,797 Income (loss) from operations - 107,596 9,615 (9,691 ) - 107,520 Interest expense, net - (75,580 ) (2,650 ) (1,007 ) - (79,237 ) Loss on extinguishment of debt - (29,445 ) (2,133 ) (226 ) - (31,804 ) Pension and other postretirement plans credit, net - 2,631 - - - 2,631 Other income (expenses) - 324 - (431 ) - (107 ) Equity in income of subsidiaries 3,124 - - - (3,124 ) - Income (loss) before income taxes 3,124 5,526 4,832 (11,355 ) (3,124 ) (997 ) Income tax benefit (expense) - 3,861 (1,881 ) 3,961 - 5,941 Net income (loss) 3,124 9,387 2,951 (7,394 ) (3,124 ) 4,944 Net loss attributable to noncontrolling interests - - - 1,105 - 1,105 Net income (loss) attributable to Nexstar $ 3,124 $ 9,387 $ 2,951 $ (6,289 ) $ (3,124 ) $ 6,049
Schedule of Condensed Consolidating Cash Flow Statement	CONDENSED CONSOLIDATING STATEMENT OF CASH FLOWS Three Months Ended March 31, 2018 (in thousands) Nexstar Non- Consolidated Nexstar Broadcasting Mission Guarantors Eliminations Company Cash flows from operating activities $ - $ 171,164 $ (4,060 ) $ 12,261 $ - $ 179,365 Cash flows from investing activities: Purchases of property and equipment - (18,266 ) (830 ) (1,996 ) - (21,092 ) Deposits and payments for acquisitions - (82,790 ) - - - (82,790 ) Other investing activities - 2,847 - - - 2,847 Net cash used in investing activities - (98,209 ) (830 ) (1,996 ) - (101,035 ) Cash flows from financing activities: Proceeds from long-term debt - 44,000 - - - 44,000 Repayments of long-term debt - (73,061 ) (578 ) (940 ) - (74,579 ) Common stock dividends paid (17,288 ) - - - - (17,288 ) Purchase of treasury stock (33,820 ) - - - - (33,820 ) Inter-company payments 53,773 (53,773 ) - - - - Other financing activities (2,665 ) (735 ) - 226 - (3,174 ) Net cash used in financing activities - (83,569 ) (578 ) (714 ) - (84,861 ) Net (decrease) increase in cash, cash equivalents and restricted cash - (10,614 ) (5,468 ) 9,551 - (6,531 ) Cash, cash equivalents and restricted cash at beginning of period - 90,860 9,524 15,268 - 115,652 Cash, cash equivalents and restricted cash at end of period $ - $ 80,246 $ 4,056 $ 24,819 $ - $ 109,121 CONDENSED CONSOLIDATING STATEMENT OF CASH FLOWS Three Months Ended March 31, 2017 (in thousands) Nexstar Non- Consolidated Nexstar Broadcasting Mission Guarantors Eliminations Company Cash flows from operating activities $ - $ (50,645 ) $ (4,212 ) $ 7,072 $ - $ (47,785 ) Cash flows from investing activities: Purchases of property and equipment - (12,381 ) (74 ) (1,459 ) - (13,914 ) Deposits and payments for acquisitions - (2,970,394 ) (800 ) - - (2,971,194 ) Proceeds from sale of a station - 481,944 - - - 481,944 Other investing activities - 404 - - - 404 Net cash used in investing activities - (2,500,427 ) (874 ) (1,459 ) - (2,502,760 ) Cash flows from financing activities: Proceeds from long-term debt - 2,797,106 230,840 53,915 - 3,081,861 Repayments of long-term debt - (1,041,607 ) (225,892 ) (53,300 ) - (1,320,799 ) Premium paid on debt extinguishment - (18,050 ) - - - (18,050 ) Purchase of noncontrolling interests - (66,901 ) - - - (66,901 ) Common stock dividends paid (14,106 ) - - - (14,106 ) Payments for debt financing costs - (47,578 ) (3,779 ) - - (51,357 ) Inter-company payments 15,123 (15,123 ) - - - - Other financing activities (1,017 ) 91 - (1,764 ) - (2,690 ) Net cash provided by (used in) financing activities - 1,607,938 1,169 (1,149 ) - 1,607,958 Net (decrease) increase in cash, cash equivalents and restricted cash - (943,134 ) (3,917 ) 4,464 - (942,587 ) Cash, cash equivalents and restricted cash at beginning of period - 1,003,629 6,478 5,372 - 1,015,479 Cash, cash equivalents and restricted cash at end of period $ - $ 60,495 $ 2,561 $ 9,836 $ - $ 72,892

Organization and Business Ope33

Organization and Business Operations (Details)	Mar. 31, 2018TelevisionStationMarket
Organization Consolidation And Presentation Of Financial Statements [Abstract]
Number of full power television stations owned, operated, programmed or provided sales and other services	169
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

Summary of Significant Accoun34

Summary of Significant Accounting Policies - Consolidated VIEs (Details) - USD ($) $ in Thousands		Mar. 31, 2018	Dec. 31, 2017	Mar. 31, 2017	Dec. 31, 2016
Variable Interest Entity [Line Items]
Spectrum asset		$ 305,773	$ 305,764
Other current assets		44,010	71,859
Total current assets		1,001,629	1,056,218
Liability to surrender spectrum asset		314,087	314,087
Other current liabilities		16,661	17,169
Total current liabilities		685,155	670,703
Current assets:
Cash and cash equivalents		109,121	115,652	$ 72,892	$ 1,015,479
Accounts receivable, net		542,725	562,943
Spectrum asset		305,773	305,764
Prepaid expenses and other current assets		44,010	71,859
Total current assets		1,001,629	1,056,218
Property and equipment, net		725,273	734,138
Goodwill		2,183,998	2,142,846
FCC licenses		1,767,638	1,767,638
Other intangible assets, net		1,592,617	1,581,626
Other noncurrent assets, net		186,468	199,181
Total assets	[1]	7,457,623	7,481,647
Current liabilities:
Current portion of debt		92,174	92,808
Interest payable		29,204	39,563
Liability to surrender spectrum asset		314,087	314,087
Other current liabilities		16,661	17,169
Total current liabilities		685,155	670,703
Debt		4,243,161	4,269,652
Other noncurrent liabilities		320,344	340,541
Total liabilities	[1]	5,876,119	5,900,337
Consolidated VIEs [Member]
Variable Interest Entity [Line Items]
Consolidated VIEs, Assets		408,396	426,879
Spectrum asset		26,695	26,695
Total current assets		65,616	75,044
Liability to surrender spectrum asset		27,347	27,347
Other current liabilities		17,214	24,146
Total current liabilities		101,615	109,052
Consolidated VIEs, Liabilities		69,817	81,832
Current assets:
Cash and cash equivalents		11,515	17,180
Accounts receivable, net		23,611	24,407
Spectrum asset		26,695	26,695
Prepaid expenses and other current assets		3,795	6,762
Total current assets		65,616	75,044
Property and equipment, net		25,359	25,971
Goodwill		154,788	163,549
FCC licenses		151,808	151,808
Other intangible assets, net		95,549	97,757
Other noncurrent assets, net		5,099	9,443
Total assets		498,219	523,572
Current liabilities:
Current portion of debt		55,931	56,565
Interest payable		1,123	994
Liability to surrender spectrum asset		27,347	27,347
Other current liabilities		17,214	24,146
Total current liabilities		101,615	109,052
Debt		245,073	245,523
Other noncurrent liabilities		25,256	30,594
Total liabilities		371,944	385,169
Current assets [Member] | Consolidated VIEs [Member]
Variable Interest Entity [Line Items]
Spectrum asset		26,695	26,695
Other current assets		18,839	22,038
Total current assets		45,534	48,733
Current assets:
Spectrum asset		26,695	26,695
Total current assets		45,534	48,733
Property and equipment, net [Member] | Consolidated VIEs [Member]
Variable Interest Entity [Line Items]
Consolidated VIEs, Assets		7,264	7,517
Goodwill [Member] | Consolidated VIEs [Member]
Variable Interest Entity [Line Items]
Consolidated VIEs, Assets		121,601	130,362
FCC licenses [Member] | Consolidated VIEs [Member]
Variable Interest Entity [Line Items]
Consolidated VIEs, Assets		151,808	151,808
Other intangible assets, net [Member] | Consolidated VIEs [Member]
Variable Interest Entity [Line Items]
Consolidated VIEs, Assets		80,252	81,916
Other noncurrent assets, net [Member] | Consolidated VIEs [Member]
Variable Interest Entity [Line Items]
Consolidated VIEs, Assets		1,937	6,543
Current liabilities [Member] | Consolidated VIEs [Member]
Variable Interest Entity [Line Items]
Liability to surrender spectrum asset		27,347	27,347
Other current liabilities		17,214	24,146
Total current liabilities		44,561	51,493
Current liabilities:
Liability to surrender spectrum asset		27,347	27,347
Other current liabilities		17,214	24,146
Total current liabilities		44,561	51,493
Noncurrent liabilities [Member] | Consolidated VIEs [Member]
Variable Interest Entity [Line Items]
Consolidated VIEs, Liabilities		$ 25,256	$ 30,339
[1]	The consolidated total assets as of March 31, 2018 and December 31, 2017 include certain assets held by consolidated variable interest entities (“VIEs”) of $408.4 million and $426.9 million, respectively, which are not available to be used to settle the obligations of Nexstar. The consolidated total liabilities as of March 31, 2018 and December 31, 2017 include certain liabilities of consolidated VIEs of $69.8 million and $81.8 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 Accoun35

Summary of Significant Accounting Policies - Additional Information (Details) - USD ($) shares in Thousands	Feb. 01, 2017	Jul. 31, 2016	Mar. 31, 2018	Mar. 31, 2017	Dec. 31, 2017	Dec. 31, 2016
Revenue Recognition [Abstract]
Revenue from trade transactions			$ 2,800,000	$ 2,200,000
Barter revenue				10,200,000
Barter expense				10,200,000
Current barter assets					$ 9,700,000
Current barter liabilities					9,700,000
Noncurrent barter assets					12,500,000
Noncurrent barter liabilities					12,500,000
New Accounting Pronouncements and Changes in Accounting Principles [Abstract]
Payments for contingent consideration related to an acquisition				956,000
Change in prepaid expenses and other current assets			1,243,000	(9,103,000)
Proceeds from long-term debt			44,000,000	3,081,861,000
Change in other noncurrent assets			1,567,000	1,851,000
Cash, cash equivalents and restricted cash			$ 109,121,000	$ 72,892,000	$ 115,652,000	$ 1,015,479,000
Earnings Per Share Basic And Diluted Other Disclosures [Abstract]
Stock options and restricted stock units with potentially dilutive effect (in shares)			76	550
ASU 2017-07 [Member]
New Accounting Pronouncements and Changes in Accounting Principles [Abstract]
Service cost			$ 0	$ 0
Net periodic benefit, service costs				2,800,000
ASU 2016-15 [Member]
New Accounting Pronouncements and Changes in Accounting Principles [Abstract]
Payment in excess of acquisition date fair value of contingent liability				4,000,000
Increasein net cash used in operating activities				(4,000,000)
Increase in net cash provided by financing activities				4,000,000
ASU 2016-15 [Member] | Scenario, Previously Reported [Member]
New Accounting Pronouncements and Changes in Accounting Principles [Abstract]
Payments for contingent consideration related to an acquisition				5,000,000
ASU 2016-18 {Member]
New Accounting Pronouncements and Changes in Accounting Principles [Abstract]
Increasein net cash used in operating activities				(22,700,000)
Increase In net cash used In investing activities				(5,100,000)
Decrease In net cash provided by financing activities				(900,000,000)
Cash, cash equivalents and restricted cash						927,800,000
Increase interest paid				25,900,000
ASU 2016-18 {Member] | 5.625 % Due 2024 [Member] | Senior Subordinated Notes [Member]
New Accounting Pronouncements and Changes in Accounting Principles [Abstract]
Debt instrument principal amount		$ 900,000,000
Debt instrument, issued price percentage		5.625%
Frequency of periodic principal payments			semiannually
ASU 2016-18 {Member] | Scenario, Previously Reported [Member] | Media General [Member]
New Accounting Pronouncements and Changes in Accounting Principles [Abstract]
Restricted escrow account						$ 927,800,000
Change in prepaid expenses and other current assets				21,600,000
Withdrawal of interest previously deposited in escrow				5,100,000
Change in other noncurrent assets				1,100,000
ASU 2016-18 {Member] | Scenario, Previously Reported [Member] | 5.625 % Due 2024 [Member] | Media General [Member]
New Accounting Pronouncements and Changes in Accounting Principles [Abstract]
Interest payment	$ 25,900,000
Proceeds from long-term debt				$ 900,000,000
Calculated under Revenue Guidance in Effect before Topic 606 [Member] | Accounting Standards Update 2014-09 [Member]
Revenue Recognition [Abstract]
Barter revenue			$ 11,000,000
Barter expense			11,000,000
Current barter assets			8,200,000
Current barter liabilities			8,200,000
Noncurrent barter assets			10,600,000
Noncurrent barter liabilities			$ 10,600,000

Summary of Significant Accoun36

Summary of Significant Accounting Policies - Weighted Average Shares Outstanding (Details) - shares shares in Thousands	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Earnings Per Share Basic And Diluted Other Disclosures [Abstract]
Weighted average shares outstanding - basic	46,075	44,200
Dilutive effect of equity incentive plan instruments	1,610	1,219
Weighted average shares outstanding - diluted	47,685	45,419

Acquisitions - Additional Infor

Acquisitions - Additional Information (Details) - USD ($) $ in Thousands	Apr. 27, 2018	Jan. 16, 2018	Jan. 31, 2018	Mar. 31, 2018	Mar. 31, 2018	Mar. 31, 2017	Dec. 31, 2019
Business Acquisition [Line Items]
Revenue included in condensed consolidated statements of operations					$ 615,336	$ 540,317
Operating income (loss)					117,616	$ 107,520
LKQD [Member]
Business Acquisition [Line Items]
Acquisition date		Jan. 16, 2018
Total Consideration		$ 96,900
Cash paid in business acquisition			$ 94,000
Accrued earnout payments				$ 600	600
Acquisition related costs					$ 400
Revenue included in condensed consolidated statements of operations				7,000
Operating income (loss)				$ 2,400
LKQD [Member] | Other definite-lived intangible assets [Member]
Business Acquisition [Line Items]
Weighted average estimated useful life of other intangible assets		3 years
LKQD [Member] | Subsequent Event [Member]
Business Acquisition [Line Items]
Cash paid in business acquisition	$ 2,900
Maximum Earnout payment							$ 35,000
LKQD [Member] | Accrued Expenses [Member]
Business Acquisition [Line Items]
Business acquisition working capital adjustment		$ 2,900

Acquisitions - Provisional Fair

Acquisitions - Provisional Fair Values of Assets Acquired and Liabilities Assumed (Details) - USD ($) $ in Thousands	Mar. 31, 2018	Jan. 16, 2018	Dec. 31, 2017
Business Acquisition [Line Items]
Goodwill	$ 2,183,998		$ 2,142,846
LKQD [Member]
Business Acquisition [Line Items]
Cash and cash equivalents		$ 11,166
Accounts receivable		25,956
Property and equipment		210
Goodwill		41,152
Total assets acquired and consolidated		123,805
Less: Accounts payable and accrued expenses		(18,815)
Less: Taxes payable		(1,255)
Less: Deferred tax liabilities		(6,828)
Net assets acquired and consolidated		96,907
LKQD [Member] | Other definite-lived intangible assets [Member]
Business Acquisition [Line Items]
Other intangible assets		$ 45,321

Intangible Assets and Goodwil39

Intangible Assets and Goodwill - Intangible Assets Subject to Amortization (Details) - USD ($) $ in Thousands	3 Months Ended	12 Months Ended
	Mar. 31, 2018	Dec. 31, 2017
Finite-Lived Intangible Assets [Line Items]
Gross	$ 2,211,552	$ 2,164,259
Accumulated Amortization	(618,935)	(582,633)
Net	$ 1,592,617	$ 1,581,626
Network affiliation agreements [Member]
Finite-Lived Intangible Assets [Line Items]
Estimated useful life, in years	15 years	15 years
Gross	$ 1,971,170	$ 1,971,170
Accumulated Amortization	(490,375)	(461,345)
Net	1,480,795	1,509,825
Other definite-lived intangible assets [Member]
Finite-Lived Intangible Assets [Line Items]
Gross	240,382	193,089
Accumulated Amortization	(128,560)	(121,288)
Net	$ 111,822	$ 71,801
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	20 years	20 years

Intangible Assets and Goodwil40

Intangible Assets and Goodwill - Estimated Amortization Expense of Definite-Lived Intangibles Assets (Details) - USD ($) $ in Thousands	Mar. 31, 2018	Dec. 31, 2017
Finite Lived Intangible Assets Future Amortization Expense Current And Five Succeeding Fiscal Years [Abstract]
Remainder of 2018	$ 108,458
2,019	138,226
2,020	129,737
2,021	118,694
2,022	113,295
2,023	112,020
Thereafter	872,187
Net	$ 1,592,617	$ 1,581,626

Intangible Assets and Goodwil41

Intangible Assets and Goodwill - Goodwill and FCC Licenses (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2018	Dec. 31, 2017
Goodwill [Roll Forward]
Goodwill, Gross	$ 2,253,907	$ 2,212,755
Goodwill, Accumulated Impairment	(69,909)	(69,909)
Goodwill, Net	2,183,998	2,142,846
Goodwill Acquisitions, Gross	41,152
Goodwill Acquisitions and Consolidations of VIEs, Net	41,152
FCC Licenses [Abstract]
FCC Licenses, Gross	1,815,048	1,815,048
FCC Licenses, Accumulated Impairment	(47,410)	(47,410)
FCC Licenses, Net	$ 1,767,638	$ 1,767,638

Accrued Expenses - Accrued Expe

Accrued Expenses - Accrued Expenses (Details) - USD ($) $ in Thousands	Mar. 31, 2018	Dec. 31, 2017
Payables And Accruals [Abstract]
Compensation and related taxes	$ 42,303	$ 44,775
Network affiliation fees	49,494	68,197
Other	53,570	46,309
Accrued expenses	$ 145,367	$ 159,281

Retirement and Postretirement43

Retirement and Postretirement Plans - Summary of Components of Net Periodic Benefit Cost (Income) (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Pension Benefits [Member]
Defined Benefit Plan Disclosure [Line Items]
Interest cost	$ 3,350	$ 3,261
Expected return on plan assets	(6,450)	(6,022)
Net periodic benefit (income) cost	(3,100)	(2,761)
Other Benefits [Member]
Defined Benefit Plan Disclosure [Line Items]
Interest cost	150	130
Net periodic benefit (income) cost	$ 150	$ 130

Retirement and Postretirement44

Retirement and Postretirement Plans - Additional Information (Details)	3 Months Ended
	Mar. 31, 2018USD ($)
Defined Benefit Plan Disclosure [Line Items]
Contributions to qualified retirement plan by Company	$ 0
Maximum [Member]
Defined Benefit Plan Disclosure [Line Items]
Defined benefit plan, expected contributions	$ 6,000,000

Debt - Long Term Debt (Details)

Debt - Long Term Debt (Details) - USD ($) $ in Thousands	Mar. 31, 2018	Dec. 31, 2017
Long term Debt [Abstract]
Debt	$ 4,335,335	$ 4,362,460
Less: current portion	(92,174)	(92,808)
Debt, noncurrent	4,243,161	4,269,652
Notes Payable to Banks [Member] | Term Loans [Member]
Long term Debt [Abstract]
Debt	2,744,697	2,791,875
Revolving loans [Member]
Long term Debt [Abstract]
Debt	23,000	3,000
Senior Subordinated Notes [Member] | 6.125% Due 2022 [Member]
Long term Debt [Abstract]
Debt	273,115	273,008
Senior Subordinated Notes [Member] | 5.875% Due 2022 [Member]
Long term Debt [Abstract]
Debt	407,624	408,102
Senior Subordinated Notes [Member] | 5.625 % Due 2024 [Member]
Long term Debt [Abstract]
Debt	$ 886,899	$ 886,475

Debt - Long Term Debt (Parenthe

Debt - Long Term Debt (Parenthetical) (Details) - USD ($) $ in Thousands	Mar. 31, 2018	Dec. 31, 2017
6.125% Due 2022 [Member]
Long term Debt [Abstract]
Interest rate	6.125%
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	$ 54,146	$ 57,547
Senior Subordinated Notes [Member] | 6.125% Due 2022 [Member]
Long term Debt [Abstract]
Debt financing costs and discount	$ 1,885	$ 1,992
Interest rate	6.125%	6.125%
Senior Subordinated Notes [Member] | 5.875% Due 2022 [Member]
Long term Debt [Abstract]
Debt financing costs and discount	$ 7,624
Interest rate	5.875%	5.875%
Senior Subordinated Notes [Member] | 5.625 % Due 2024 [Member]
Long term Debt [Abstract]
Debt financing costs and discount	$ 13,101	$ 13,525
Interest rate	5.625%	5.625%

Debt - Additional Information (

Debt - Additional Information (Details) - USD ($) $ in Thousands	Feb. 16, 2018	Jan. 16, 2018	Mar. 31, 2018	Mar. 31, 2018	Mar. 31, 2017
Debt Instrument [Line Items]
Repayment of debt				$ 74,579	$ 1,320,799
Loss on extinguishment of debt				1,005	$ 31,804
Revolving loans [Member]
Debt Instrument [Line Items]
Available borrowing capacity			$ 152,000	$ 152,000
Senior Secured Credit Facility [Member]
Debt Instrument [Line Items]
Maximum consolidated first lien net leverage ratio				4.50 to 1.00
Term Loans B [Member]
Debt Instrument [Line Items]
Repayment of debt				$ 40,000
Loss on extinguishment of debt				1,000
Term Loans [Member] | Nexstar [Member] | Notes Payable to Banks [Member]
Debt Instrument [Line Items]
Repayment of debt				$ 10,600
Revolving Credit Facility [Member]
Debt Instrument [Line Items]
Repayment of debt	$ 20,000		$ 4,000
LKQD [Member] | Revolving Credit Facility [Member]
Debt Instrument [Line Items]
Borrowing from revolving credit facility		$ 44,000

Debt - Fair Value of Debt (Deta

Debt - Fair Value of Debt (Details) - USD ($) $ in Thousands		Mar. 31, 2018	Dec. 31, 2017
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]	$ 2,744,697	$ 2,791,875
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]	2,786,410	2,852,199
Revolving loans [Member] | Carrying Amount [Member] | Level 3 [Member]
Fair Value of debt [Line Items]
Carrying Amount and Fair Value of Debt	[1]	23,000	3,000
Revolving loans [Member] | Fair Value [Member] | Level 3 [Member]
Fair Value of debt [Line Items]
Carrying Amount and Fair Value of Debt	[1]	22,661	2,985
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]	273,115	273,008
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]	283,250	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]	407,624	408,102
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]	412,500	415,500
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]	886,899	886,475
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]	$ 892,125	$ 925,875
[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
	Mar. 31, 2018	Jun. 12, 2017
Class Of Stock [Line Items]
Purchase of treasury stock	$ 33,820
Class A Common Stock [Member]
Class Of Stock [Line Items]
Authorization of share repurchase		$ 100,000
Purchase of treasury stock, shares	501,920
Purchase of treasury stock	$ 33,800
Authorization of share repurchase, remaining amount available	$ 18,600

Revenue - Additional Informatio

Revenue - Additional Information (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017	Jan. 01, 2018
Disaggregation Of Revenue [Line Items]
Performance obligations related to contract liabilities	$ 5.4		$ 5.4
Contract liabilities recognized as revenue	$ 5.4
Barter revenue		$ 10.2
Barter expense		10.2
Trade and Barter Revenue [Member]
Disaggregation Of Revenue [Line Items]
Barter revenue		10.2
Barter expense		$ 10.2

Revenue - Summary of Disaggrega

Revenue - Summary of Disaggregation of Revenue (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Disaggregation Of Revenue [Line Items]
Net revenue	$ 615,336	$ 540,317
Broadcast [Member]
Disaggregation Of Revenue [Line Items]
Net revenue	576,985	511,167
Other [Member]
Disaggregation Of Revenue [Line Items]
Net revenue	38,351	29,150
Local [Member]
Disaggregation Of Revenue [Line Items]
Net revenue	193,268	178,476
Local [Member] | Broadcast [Member]
Disaggregation Of Revenue [Line Items]
Net revenue	193,268	178,476
National [Member]
Disaggregation Of Revenue [Line Items]
Net revenue	67,045	65,982
National [Member] | Broadcast [Member]
Disaggregation Of Revenue [Line Items]
Net revenue	67,045	65,982
Political [Member]
Disaggregation Of Revenue [Line Items]
Net revenue	9,266	1,696
Political [Member] | Broadcast [Member]
Disaggregation Of Revenue [Line Items]
Net revenue	9,266	1,696
Retransmission Compensation {Member]
Disaggregation Of Revenue [Line Items]
Net revenue	275,941	231,895
Retransmission Compensation {Member] | Broadcast [Member]
Disaggregation Of Revenue [Line Items]
Net revenue	275,941	231,895
Digital [Member]
Disaggregation Of Revenue [Line Items]
Net revenue	62,804	45,365
Digital [Member] | Broadcast [Member]
Disaggregation Of Revenue [Line Items]
Net revenue	24,468	16,949
Digital [Member] | Other [Member]
Disaggregation Of Revenue [Line Items]
Net revenue	38,336	28,416
Other [Member]
Disaggregation Of Revenue [Line Items]
Net revenue	4,169	4,461
Other [Member] | Broadcast [Member]
Disaggregation Of Revenue [Line Items]
Net revenue	4,154	3,727
Other [Member] | Other [Member]
Disaggregation Of Revenue [Line Items]
Net revenue	15	734
Trade Revenue [Member]
Disaggregation Of Revenue [Line Items]
Net revenue	2,843
Trade Revenue [Member] | Broadcast [Member]
Disaggregation Of Revenue [Line Items]
Net revenue	$ 2,843
Trade and Barter Revenue [Member]
Disaggregation Of Revenue [Line Items]
Net revenue		12,442
Trade and Barter Revenue [Member] | Broadcast [Member]
Disaggregation Of Revenue [Line Items]
Net revenue		$ 12,442

Stock-Based Compensation Plans

Stock-Based Compensation Plans - Additional Information (Details) - Restricted stock units [Member] $ in Millions	3 Months Ended
	Mar. 31, 2018USD ($)shares
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Restricted stock award to employees and non-employee directors granted | shares	427,500
Estimated fair value of RSU | $	$ 28.6
Minimum [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Share-based payment award vesting period	3 years
Maximum [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Share-based payment award vesting period	4 years

Income Taxes - Additional Infor

Income Taxes - Additional Information (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Operating Loss Carryforwards [Line Items]
Income tax expense (benefit)	$ 17,504	$ (5,941)
Effective income tax rates	27.00%	595.90%
Income tax benefit related to divested stations		$ 8,300
Increase to effective tax rate related to divested stations		(833.80%)
Excess tax benefit on stock-based compensation		$ 400
Increase to effective tax rate relates to excess tax benefits for stock-based compensation		108.40%
Income tax rate	21.00%	35.00%
Media General [Member]
Operating Loss Carryforwards [Line Items]
Income tax expense related to nondeductible expenses		$ 1,700
Decrease to effective tax rate related to nondeductible expenses		172.40%
Income tax expense related to blended state tax rate		$ 1,500
Decrease to effective tax rate related to blended state tax rate		150.10%

FCC Regulatory Matters - Additi

FCC Regulatory Matters - Additional Information (Details)	Mar. 07, 2018USD ($)	Apr. 13, 2017TelevisionStation	Nov. 30, 2017TelevisionStation	Mar. 31, 2018USD ($)TelevisionStation
FCC Regulatory Matters [Line Items]
Maximum percentage of US television household reach				39.00%
Percentage reach of ultra high frequency station				50.00%
Effective date of reinstating the ultra high frequency discount				Jun. 15, 2017
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 stations went off the air			1
Number of ceased broadcasting channels				3
Number of stations required to cease broadcasting				5
Number of stations moving to very high frequency channels				2
Maximum amount allocated by Congress for reimbursement of repack costs industry-wide | $				$ 2,750,000,000
Amount of reimbursement for repack cost allocated to television broadcaster relocation fund | $				$ 1,000,000,000
Excess over maximum amount allocated by Congress for reimbursement of repack costs industry-wide | $	$ 1,950,000,000
Consolidated VIEs [Member]
FCC Regulatory Matters [Line Items]
Number of full power stations repacked				17
Nexstar [Member]
FCC Regulatory Matters [Line Items]
Number of stations owned		10
Number of stations owned			1
Number of full power television stations owned				169
Number of full power stations repacked				61

Commitments and Contingencies -

Commitments and Contingencies - Additional Information (Details) - Nexstar [Member] $ in Millions	3 Months Ended
	Mar. 31, 2018USD ($)
Financial Guarantee of Mission Debt [Member]
Guarantees of Mission, Marshall and Shield Debt [Abstract]
Maximum commitment under senior secured credit facility	$ 228.4
Commitment under senior secured credit facility at carrying value	225.4
Financial Guarantee of Marshall Debt [Member]
Guarantees of Mission, Marshall and Shield Debt [Abstract]
Commitment under senior secured credit facility at carrying value	$ 52.2
Debt due	2018-06
Financial Guarantee Shield Debt [Member]
Guarantees of Mission, Marshall and Shield Debt [Abstract]
Commitment under senior secured credit facility at carrying value	$ 23.5

Segment Data - Summary of Segme

Segment Data - Summary of Segment Financial Information (Details) - USD ($) $ in Thousands		3 Months Ended
		Mar. 31, 2018	Mar. 31, 2017	Dec. 31, 2017
Segment Reporting Information [Line Items]
Net revenue		$ 615,336	$ 540,317
Depreciation		25,814	22,226
Amortization of intangible assets		36,302	48,158
Income (loss) from operations		117,616	107,520
Goodwill		2,183,998		$ 2,142,846
Assets	[1]	7,457,623		7,481,647
Broadcast [Member]
Segment Reporting Information [Line Items]
Net revenue		576,985	511,167
Depreciation		21,400	16,942
Amortization of intangible assets		32,053	45,933
Income (loss) from operations		152,567	187,077
Goodwill		2,122,935		2,122,935
Assets		6,623,759		6,723,685
Other [Member]
Segment Reporting Information [Line Items]
Net revenue		38,351	29,150
Depreciation		4,414	5,284
Amortization of intangible assets		4,249	2,225
Income (loss) from operations		(34,951)	$ (79,557)
Goodwill		61,063		19,911
Assets		$ 833,864		$ 757,962
[1]	The consolidated total assets as of March 31, 2018 and December 31, 2017 include certain assets held by consolidated variable interest entities (“VIEs”) of $408.4 million and $426.9 million, respectively, which are not available to be used to settle the obligations of Nexstar. The consolidated total liabilities as of March 31, 2018 and December 31, 2017 include certain liabilities of consolidated VIEs of $69.8 million and $81.8 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 Finan57

Condensed Consolidating Financial Information - Additional Information (Details)	Mar. 31, 2018
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%

Condensed Consolidating Finan58

Condensed Consolidating Financial Information - Condensed Consolidated Balance Sheets (Details) - USD ($) $ in Thousands		Mar. 31, 2018	Dec. 31, 2017	Mar. 31, 2017	Dec. 31, 2016
Current assets:
Cash and cash equivalents		$ 109,121	$ 115,652	$ 72,892	$ 1,015,479
Accounts receivable, net		542,725	562,943
Spectrum asset		305,773	305,764
Other current assets		44,010	71,859
Total current assets		1,001,629	1,056,218
Property and equipment, net		725,273	734,138
Goodwill		2,183,998	2,142,846
FCC licenses		1,767,638	1,767,638
Other intangible assets, net		1,592,617	1,581,626
Other noncurrent assets		186,468	199,181
Total assets	[1]	7,457,623	7,481,647
Current liabilities:
Current portion of debt		92,174	92,808
Accounts payable		80,819	31,136
Liability to surrender spectrum asset		314,087	314,087
Other current liabilities		198,075	232,672
Total current liabilities		685,155	670,703
Debt		4,243,161	4,269,652
Deferred tax liabilities		627,459	619,441
Other noncurrent liabilities		320,344	340,541
Total liabilities	[1]	5,876,119	5,900,337
Total Nexstar Media Group, Inc. stockholders' equity (deficit)		1,571,363	1,570,614
Noncontrolling interests in consolidated variable interest entities		10,141	10,696
Total liabilities and stockholders' equity		7,457,623	7,481,647
Eliminations [Member]
Current assets:
Amounts due from consolidated entities		(159,597)	(148,340)
Total current assets		(159,597)	(148,340)
Investments in subsidiaries		(872,515)	(726,651)
Amounts due from consolidated entities		(828,532)	(970,207)
Property and equipment, net		(74)	(75)
Total assets		(1,860,718)	(1,845,273)
Current liabilities:
Amounts due to consolidated entities		(159,597)	(148,340)
Total current liabilities		(159,597)	(148,340)
Amounts due to consolidated entities		(828,744)	(970,418)
Total liabilities		(988,341)	(1,118,758)
Total Nexstar Media Group, Inc. stockholders' equity (deficit)		(872,377)	(726,515)
Total liabilities and stockholders' equity		(1,860,718)	(1,845,273)
Nexstar [Member] | Reportable Legal Entities [Member]
Current assets:
Investments in subsidiaries		763,631	617,297
Amounts due from consolidated entities		828,532	970,207
Total assets		1,592,163	1,587,504
Current liabilities:
Total Nexstar Media Group, Inc. stockholders' equity (deficit)		1,592,163	1,587,504
Total liabilities and stockholders' equity		1,592,163	1,587,504
Nexstar Broadcasting [Member] | Reportable Legal Entities [Member]
Current assets:
Cash and cash equivalents		80,246	90,860	60,495	1,003,629
Accounts receivable, net		445,786	484,096
Amounts due from consolidated entities		69,594	55,417
Spectrum asset		279,078	279,069
Other current assets		39,173	64,256
Total current assets		913,877	973,698
Investments in subsidiaries		108,884	109,354
Property and equipment, net		691,012	697,898
Goodwill		1,968,147	1,959,386
FCC licenses		1,615,830	1,615,830
Other intangible assets, net		1,446,452	1,476,297
Other noncurrent assets		180,726	189,303
Total assets		6,924,928	7,021,766
Current liabilities:
Current portion of debt		36,243	36,243
Accounts payable		61,863	24,293
Liability to surrender spectrum asset		286,740	286,740
Other current liabilities		157,853	192,827
Total current liabilities		542,699	540,103
Debt		3,998,088	4,024,129
Amounts due to consolidated entities		596,208	714,408
Deferred tax liabilities		615,714	613,227
Other noncurrent liabilities		305,901	322,572
Total liabilities		6,058,610	6,214,439
Total Nexstar Media Group, Inc. stockholders' equity (deficit)		866,318	807,327
Total liabilities and stockholders' equity		6,924,928	7,021,766
Mission [Member] | Reportable Legal Entities [Member]
Current assets:
Cash and cash equivalents		4,056	9,524	2,561	6,478
Accounts receivable, net		14,809	14,717
Amounts due from consolidated entities		90,003	92,923
Other current assets		1,216	2,070
Total current assets		110,084	119,234
Property and equipment, net		18,095	18,454
Goodwill		33,187	33,187
FCC licenses		43,102	43,102
Other intangible assets, net		15,297	15,841
Other noncurrent assets		3,162	2,645
Total assets		222,927	232,463
Current liabilities:
Current portion of debt		2,314	2,314
Accounts payable		2,166	1,090
Other current liabilities		6,772	13,310
Total current liabilities		11,252	16,714
Debt		223,040	223,428
Other noncurrent liabilities		7,071	7,626
Total liabilities		241,363	247,768
Total Nexstar Media Group, Inc. stockholders' equity (deficit)		(18,436)	(15,305)
Total liabilities and stockholders' equity		222,927	232,463
Non-Guarantors [Member] | Reportable Legal Entities [Member]
Current assets:
Cash and cash equivalents		24,819	15,268	$ 9,836	$ 5,372
Accounts receivable, net		82,130	64,130
Spectrum asset		26,695	26,695
Other current assets		3,621	5,533
Total current assets		137,265	111,626
Property and equipment, net		16,240	17,861
Goodwill		182,664	150,273
FCC licenses		108,706	108,706
Other intangible assets, net		130,868	89,488
Other noncurrent assets		2,580	7,233
Total assets		578,323	485,187
Current liabilities:
Current portion of debt		53,617	54,251
Accounts payable		16,790	5,753
Liability to surrender spectrum asset		27,347	27,347
Amounts due to consolidated entities		159,597	148,340
Other current liabilities		33,450	26,535
Total current liabilities		290,801	262,226
Debt		22,033	22,095
Amounts due to consolidated entities		232,536	256,010
Deferred tax liabilities		11,745	6,214
Other noncurrent liabilities		7,372	10,343
Total liabilities		564,487	556,888
Total Nexstar Media Group, Inc. stockholders' equity (deficit)		3,695	(82,397)
Noncontrolling interests in consolidated variable interest entities		10,141	10,696
Total liabilities and stockholders' equity		$ 578,323	$ 485,187
[1]	The consolidated total assets as of March 31, 2018 and December 31, 2017 include certain assets held by consolidated variable interest entities (“VIEs”) of $408.4 million and $426.9 million, respectively, which are not available to be used to settle the obligations of Nexstar. The consolidated total liabilities as of March 31, 2018 and December 31, 2017 include certain liabilities of consolidated VIEs of $69.8 million and $81.8 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 Finan59

Condensed Consolidating Financial Information - Condensed Consolidated Statements of Operations (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS [Abstract]
Net broadcast revenue (including trade)	$ 615,281	$ 540,317
Revenue between consolidated entities	55
Net revenue	615,336	540,317
Operating expenses (income):
Direct operating expenses, excluding depreciation and amortization	278,963	218,729
Selling, general, and administrative expenses, excluding depreciation and amortization	141,905	176,933
Amortization of broadcast rights	16,100	24,467
Amortization of intangible assets	36,302	48,158
Depreciation	25,814	22,226
Gain on disposal of stations, net		57,716
Reimbursement from the FCC related to station repack	(1,364)
Total operating expenses	497,720	432,797
Income from operations	117,616	107,520
Interest expense, net	(54,589)	(79,237)
Loss on extinguishment of debt	(1,005)	(31,804)
Pension and other postretirement plans credit, net	2,950	2,631
Other income (expenses)	(127)	(107)
Income (loss) before income taxes	64,845	(997)
Income tax (expense) benefit	(17,504)	5,941
Net income (loss)	47,341	4,944
Net (income) loss attributable to noncontrolling interests	781	1,105
Net income attributable to Nexstar Media Group, Inc.	48,122	6,049
Eliminations [Member]
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS [Abstract]
Revenue between consolidated entities	(45,389)	(21,069)
Net revenue	(45,389)	(21,069)
Operating expenses (income):
Direct operating expenses, excluding depreciation and amortization	(1,354)	(39)
Selling, general, and administrative expenses, excluding depreciation and amortization	(6,802)	(2,166)
Local service agreement fees between consolidated entities	(37,233)	(18,864)
Total operating expenses	(45,389)	(21,069)
Equity in income of subsidiaries	(52,032)	(3,124)
Income (loss) before income taxes	(52,032)	(3,124)
Net income (loss)	(52,032)	(3,124)
Net income attributable to Nexstar Media Group, Inc.	(52,032)	(3,124)
Nexstar [Member] | Reportable Legal Entities [Member]
Operating expenses (income):
Equity in income of subsidiaries	52,032	3,124
Income (loss) before income taxes	52,032	3,124
Net income (loss)	52,032	3,124
Net income attributable to Nexstar Media Group, Inc.	52,032	3,124
Nexstar Broadcasting [Member] | Reportable Legal Entities [Member]
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS [Abstract]
Net broadcast revenue (including trade)	549,681	474,146
Revenue between consolidated entities	20,256	14,070
Net revenue	569,937	488,216
Operating expenses (income):
Direct operating expenses, excluding depreciation and amortization	221,179	178,757
Selling, general, and administrative expenses, excluding depreciation and amortization	136,185	166,476
Local service agreement fees between consolidated entities	16,976	10,206
Amortization of broadcast rights	14,995	21,461
Amortization of intangible assets	29,845	41,366
Depreciation	23,461	20,070
Gain on disposal of stations, net		57,716
Reimbursement from the FCC related to station repack	(1,364)
Total operating expenses	441,277	380,620
Income from operations	128,660	107,596
Interest expense, net	(51,034)	(75,580)
Loss on extinguishment of debt	(1,005)	(29,445)
Pension and other postretirement plans credit, net	2,950	2,631
Other income (expenses)	(129)	324
Income (loss) before income taxes	79,442	5,526
Income tax (expense) benefit	(20,450)	3,861
Net income (loss)	58,992	9,387
Net income attributable to Nexstar Media Group, Inc.	58,992	9,387
Mission [Member] | Reportable Legal Entities [Member]
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS [Abstract]
Net broadcast revenue (including trade)	16,102	17,908
Revenue between consolidated entities	8,483	8,822
Net revenue	24,585	26,730
Operating expenses (income):
Direct operating expenses, excluding depreciation and amortization	10,147	9,020
Selling, general, and administrative expenses, excluding depreciation and amortization	1,216	973
Local service agreement fees between consolidated entities	13,250	4,500
Amortization of broadcast rights	412	1,398
Amortization of intangible assets	544	636
Depreciation	517	588
Total operating expenses	26,086	17,115
Income from operations	(1,501)	9,615
Interest expense, net	(2,611)	(2,650)
Loss on extinguishment of debt		(2,133)
Income (loss) before income taxes	(4,112)	4,832
Income tax (expense) benefit	981	(1,881)
Net income (loss)	(3,131)	2,951
Net income attributable to Nexstar Media Group, Inc.	(3,131)	2,951
Non-Guarantors [Member] | Reportable Legal Entities [Member]
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS [Abstract]
Net broadcast revenue (including trade)	49,498	48,263
Revenue between consolidated entities	16,705	(1,823)
Net revenue	66,203	46,440
Operating expenses (income):
Direct operating expenses, excluding depreciation and amortization	48,991	30,991
Selling, general, and administrative expenses, excluding depreciation and amortization	11,306	11,650
Local service agreement fees between consolidated entities	7,007	4,158
Amortization of broadcast rights	693	1,608
Amortization of intangible assets	5,913	6,156
Depreciation	1,836	1,568
Total operating expenses	75,746	56,131
Income from operations	(9,543)	(9,691)
Interest expense, net	(944)	(1,007)
Loss on extinguishment of debt		(226)
Other income (expenses)	2	(431)
Income (loss) before income taxes	(10,485)	(11,355)
Income tax (expense) benefit	1,965	3,961
Net income (loss)	(8,520)	(7,394)
Net (income) loss attributable to noncontrolling interests	781	1,105
Net income attributable to Nexstar Media Group, Inc.	$ (7,739)	$ (6,289)

Condensed Consolidating Finan60

Condensed Consolidating Financial Information - Condensed Consolidating Statement of Cash Flows (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS [Abstract]
Cash flows from operating activities	$ 179,365	$ (47,785)
Cash flows from investing activities:
Purchases of property and equipment	(21,092)	(13,914)
Deposits and payments for acquisitions	(82,790)	(2,971,194)
Proceeds from sale of stations		481,944
Other investing activities	2,847	404
Net cash used in investing activities	(101,035)	(2,502,760)
Cash flows from financing activities:
Proceeds from long-term debt	44,000	3,081,861
Repayments of long-term debt	(74,579)	(1,320,799)
Premium paid on debt extinguishment		(18,050)
Purchase of noncontrolling interests		(66,901)
Common stock dividends paid	(17,288)	(14,106)
Purchase of treasury stock	(33,820)
Payments for debt financing costs		(51,357)
Other financing activities	(3,174)	(2,690)
Net cash (used in) provided by financing activities	(84,861)	1,607,958
Net (decrease) increase in cash,cash equivalents and restricted cash	(6,531)	(942,587)
Cash, cash equivalents and restricted cash at beginning of period	115,652	1,015,479
Cash, cash equivalents and restricted cash at end of period	109,121	72,892
Nexstar [Member] | Reportable Legal Entities [Member]
Cash flows from financing activities:
Common stock dividends paid	(17,288)	(14,106)
Purchase of treasury stock	(33,820)
Inter-company payments	53,773	15,123
Other financing activities	(2,665)	(1,017)
Nexstar Broadcasting [Member] | Reportable Legal Entities [Member]
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS [Abstract]
Cash flows from operating activities	171,164	(50,645)
Cash flows from investing activities:
Purchases of property and equipment	(18,266)	(12,381)
Deposits and payments for acquisitions	(82,790)	(2,970,394)
Proceeds from sale of stations		481,944
Other investing activities	2,847	404
Net cash used in investing activities	(98,209)	(2,500,427)
Cash flows from financing activities:
Proceeds from long-term debt	44,000	2,797,106
Repayments of long-term debt	(73,061)	(1,041,607)
Premium paid on debt extinguishment		(18,050)
Purchase of noncontrolling interests		(66,901)
Payments for debt financing costs		(47,578)
Inter-company payments	(53,773)	(15,123)
Other financing activities	(735)	91
Net cash (used in) provided by financing activities	(83,569)	1,607,938
Net (decrease) increase in cash,cash equivalents and restricted cash	(10,614)	(943,134)
Cash, cash equivalents and restricted cash at beginning of period	90,860	1,003,629
Cash, cash equivalents and restricted cash at end of period	80,246	60,495
Mission [Member] | Reportable Legal Entities [Member]
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS [Abstract]
Cash flows from operating activities	(4,060)	(4,212)
Cash flows from investing activities:
Purchases of property and equipment	(830)	(74)
Deposits and payments for acquisitions		(800)
Net cash used in investing activities	(830)	(874)
Cash flows from financing activities:
Proceeds from long-term debt		230,840
Repayments of long-term debt	(578)	(225,892)
Payments for debt financing costs		(3,779)
Net cash (used in) provided by financing activities	(578)	1,169
Net (decrease) increase in cash,cash equivalents and restricted cash	(5,468)	(3,917)
Cash, cash equivalents and restricted cash at beginning of period	9,524	6,478
Cash, cash equivalents and restricted cash at end of period	4,056	2,561
Non-Guarantors [Member] | Reportable Legal Entities [Member]
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS [Abstract]
Cash flows from operating activities	12,261	7,072
Cash flows from investing activities:
Purchases of property and equipment	(1,996)	(1,459)
Net cash used in investing activities	(1,996)	(1,459)
Cash flows from financing activities:
Proceeds from long-term debt		53,915
Repayments of long-term debt	(940)	(53,300)
Other financing activities	226	(1,764)
Net cash (used in) provided by financing activities	(714)	(1,149)
Net (decrease) increase in cash,cash equivalents and restricted cash	9,551	4,464
Cash, cash equivalents and restricted cash at beginning of period	15,268	5,372
Cash, cash equivalents and restricted cash at end of period	$ 24,819	$ 9,836

Subsequent Events - Additional

Subsequent Events - Additional Information (Details) - USD ($) $ / shares in Units, $ in Millions	Apr. 27, 2018	Apr. 26, 2018	Apr. 23, 2018	Apr. 10, 2018	Apr. 01, 2018	Jan. 31, 2018	Mar. 31, 2018	Mar. 31, 2017	May 01, 2018	Jun. 12, 2017
Subsequent Event [Line Items]
Dividends declared per common share							$ 0.375	$ 0.30
LKQD [Member]
Subsequent Event [Line Items]
Cash paid in business acquisition						$ 94
Class A Common Stock [Member]
Subsequent Event [Line Items]
Authorization of share repurchase										$ 100
Authorization of share repurchase, remaining amount available							$ 18.6
Subsequent Event [Member]
Subsequent Event [Line Items]
Derecognition of spectrum asset to surrender spectrum			$ 80.2		$ 45.6
Derecognition of liability to surrender spectrum			$ 80.2		$ 45.6
Restricted stock award to employees granted				222,000
Estimated fair value of RSU				$ 13.4
Subsequent Event [Member] | LKQD [Member]
Subsequent Event [Line Items]
Cash paid in business acquisition	$ 2.9
Subsequent Event [Member] | Class A Common Stock [Member]
Subsequent Event [Line Items]
Dividends declared per common share		$ 0.375
Dividends, date declared		Apr. 26, 2018
Dividends, date payable		May 25, 2018
Dividends, date of record		May 11, 2018
Authorization of share repurchase									$ 200
Authorization of share repurchase, remaining amount available									$ 218.6