Nexstar Media (NXST) 10-Q 7 Aug 19 2019 Q2 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	6 Months Ended
	Jun. 30, 2019	Aug. 05, 2019
Document And Entity Information [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Jun. 30, 2019
Document Fiscal Year Focus	2019
Document Fiscal Period Focus	Q2
Trading Symbol	NXST
Entity Registrant Name	NEXSTAR MEDIA GROUP, INC.
Entity Central Index Key	0001142417
Current Fiscal Year End Date	--12-31
Entity Current Reporting Status	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity File Number	000-50478
Entity Tax Identification Number	233083125
Entity Address, Address Line One	545 E. John Carpenter Freeway
Entity Address, Address Line Two	Suite 700
Entity Address, City or Town	Irving
Entity Address, State or Province	Texas
Entity Address, Postal Zip Code	75062
City Area Code	972
Local Phone Number	373-8800
Entity Common Stock, Shares Outstanding		46,109,235

CONDENSED CONSOLIDATED BALANCE

CONDENSED CONSOLIDATED BALANCE SHEETS (unaudited) - USD ($) $ in Thousands		Jun. 30, 2019	Dec. 31, 2018
Current assets:
Cash and cash equivalents		$ 79,924	$ 145,115
Accounts receivable, net of allowance for doubtful accounts of $14,079 and $13,158, respectively		542,610	547,285
Spectrum asset		118,969	52,002
Prepaid expenses and other current assets		34,445	22,673
Total current assets		775,948	767,075
Property and equipment, net		748,647	731,538
Goodwill		2,166,410	2,167,954
FCC licenses		1,778,268	1,778,268
Other intangible assets, net		1,396,858	1,491,923
Other noncurrent assets, net		165,404	125,272
Total assets	[1]	7,031,535	7,062,030
Current liabilities:
Current portion of debt		94,940	96,093
Accounts payable		70,392	67,828
Accrued expenses		140,993	143,850
Interest payable		34,397	32,047
Liability to surrender spectrum asset		129,964	52,002
Other current liabilities		23,361	12,352
Total current liabilities		494,047	404,172
Debt		3,689,778	3,884,910
Deferred tax liabilities		642,525	633,880
Other noncurrent liabilities		246,968	270,084
Total liabilities	[1]	5,073,318	5,193,046
Commitments and contingencies (Note 13)
Stockholders' equity:
Preferred stock - $0.01 par value, 200,000 shares authorized; none issued and outstanding at each of June 30, 2019 and December 31, 2018
Additional paid-in capital		1,337,057	1,351,931
Accumulated other comprehensive loss		(14,316)	(14,316)
Retained earnings		701,946	620,371
Treasury stock - at cost; 1,188,353 and 1,665,217 shares as of June 30, 2019 and December 31, 2018, respectively		(81,381)	(105,685)
Total Nexstar Media Group, Inc. stockholders' equity		1,943,779	1,852,774
Noncontrolling interests in consolidated variable interest entities		14,438	16,210
Total stockholders' equity		1,958,217	1,868,984
Total liabilities and stockholders' equity		7,031,535	7,062,030
Class A Common Stock [Member]
Stockholders' equity:
Common stock		473	473
Total stockholders' equity		$ 473	$ 473
[1]	The consolidated total assets as of June 30, 2019 and December 31, 2018 include certain assets held by consolidated variable interest entities of $395.2 million and $390.3 million, respectively, which are not available to be used to settle the obligations of Nexstar Media Group, Inc. The consolidated total liabilities as of June 30, 2019 and December 31, 2018 include certain liabilities of consolidated variable interest entities of $55.9 million and $45.1 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 BALANC_2

CONDENSED CONSOLIDATED BALANCE SHEETS (unaudited) (Parenthetical) - USD ($) $ in Thousands	Jun. 30, 2019	Dec. 31, 2018
Current assets:
Accounts receivable, allowance for doubtful accounts	$ 14,079	$ 13,158
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	1,188,353	1,665,217
Consolidated VIEs [Member]
ASSETS
Consolidated VIEs, Assets	$ 395,200	$ 390,300
LIABILITIES AND STOCKHOLDERS' EQUITY
Consolidated VIEs, Liabilities	$ 55,900	$ 45,100
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	46,103,110	45,626,246
Class B Common Stock [Member]
Stockholders' equity:
Common stock, par value	$ 0.01	$ 0.01
Common stock, shares authorized	20,000,000	20,000,000
Common stock, shares issued	0	0
Common stock, shares outstanding	0	0
Class C Common Stock [Member]
Stockholders' equity:
Common stock, par value	$ 0.01	$ 0.01
Common stock, shares authorized	5,000,000	5,000,000
Common stock, shares issued	0	0
Common stock, shares outstanding	0	0

CONDENSED CONSOLIDATED STATEMEN

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (unaudited) - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018
Revenues [Abstract]
Net revenue	$ 649,012	$ 660,323	$ 1,275,659	$ 1,275,659
Operating expenses (income):
Direct operating expenses, excluding depreciation and amortization	296,044	274,439	588,907	553,402
Selling, general and administrative expenses, excluding depreciation and amortization	144,058	138,903	286,418	280,808
Amortization of broadcast rights	13,935	15,913	28,297	32,013
Amortization of intangible assets	36,357	37,181	73,095	73,483
Depreciation	28,090	25,090	55,527	50,904
Reimbursement from the FCC related to station repack	(19,416)	(5,697)	(33,603)	(7,061)
Total operating expenses	499,068	485,829	998,641	983,549
Income from operations	149,944	174,494	277,018	292,110
Interest expense, net	(51,363)	(56,281)	(104,320)	(110,870)
Loss on extinguishment of debt	(2,026)	(481)	(3,724)	(1,486)
Pension and other postretirement plans credit, net	1,400	2,950	2,800	5,900
Other expenses, net	(574)	(812)	(1,065)	(939)
Income (loss) before income taxes	97,381	119,870	170,709	184,715
Income tax expense	(26,646)	(33,264)	(43,087)	(50,768)
Net income (loss)	70,735	86,606	127,622	133,947
Net (income) loss attributable to noncontrolling interests	(2,733)	1,126	(4,728)	1,907
Net income attributable to Nexstar Media Group, Inc.	$ 68,002	$ 87,732	$ 122,894	$ 135,854
Net income per common share attributable to Nexstar Media Group, Inc.:
Basic	$ 1.48	$ 1.92	$ 2.68	$ 2.96
Diluted	$ 1.42	$ 1.86	$ 2.57	$ 2.87
Weighted average number of common shares outstanding:
Basic	46,090	45,631	45,938	45,852
Diluted	47,971	47,147	47,878	47,414

CONDENSED CONSOLIDATED STATEM_2

CONDENSED CONSOLIDATED STATEMENT OF CHANGES IN STOCKHOLDERS' EQUITY (unaudited) - USD ($) $ in Thousands	Total	Class A Common Stock [Member]	Additional Paid-In Capital [Member]	Retained Earnings [Member]	Accumulated Other Comprehensive (Loss) Income [Member]	Treasury Stock [Member]	Treasury Stock [Member]Class A Common Stock [Member]	Noncontrolling interests [Member]
Balance at Dec. 31, 2017	$ 1,581,310	$ 473	$ 1,342,541	$ 299,523	$ 6,140	$ (78,063)		$ 10,696
Balance, Shares at Dec. 31, 2017		47,291,463
Balance, Shares at Dec. 31, 2017						1,325,049
Purchase of treasury stock	(50,524)					$ (50,524)
Purchase of treasury stock, shares						(751,920)
Stock-based compensation expense	14,595		14,595
Vesting of restricted stock units and exercise of stock options	(2,657)		(19,398)			$ 16,741
Vesting of restricted stock units and exercise of stock options, shares						307,541
Dividends declared on common stock	(34,443)			(34,443)
Contribution from a noncontrolling interest	226							226
Net income (loss)	133,947			135,854				(1,907)
Balance at Jun. 30, 2018	1,642,454	$ 473	1,337,738	400,934	6,140	$ (111,846)		9,015
Balance, Shares at Jun. 30, 2018		47,291,463
Balance, Shares at Jun. 30, 2018						1,769,428
Balance at Mar. 31, 2018	1,581,504	$ 473	1,331,683	330,357	6,140	$ (97,290)		10,141
Balance, Shares at Mar. 31, 2018		47,291,463
Balance, Shares at Mar. 31, 2018						1,556,977
Purchase of treasury stock	(16,704)					$ (16,704)
Purchase of treasury stock, shares						(250,000)
Stock-based compensation expense	8,195		8,195
Vesting of restricted stock units and exercise of stock options	8		(2,140)			$ 2,148
Vesting of restricted stock units and exercise of stock options, shares						37,549
Dividends declared on common stock	(17,155)			(17,155)
Net income (loss)	86,606			87,732				(1,126)
Balance at Jun. 30, 2018	1,642,454	$ 473	1,337,738	400,934	6,140	$ (111,846)		9,015
Balance, Shares at Jun. 30, 2018		47,291,463
Balance, Shares at Jun. 30, 2018						1,769,428
Balance at Dec. 31, 2018	$ 1,868,984	$ 473	1,351,931	620,371	(14,316)	$ (105,685)		16,210
Balance, Shares at Dec. 31, 2018		47,291,463
Balance, Shares at Dec. 31, 2018	(1,665,217)					1,665,217
Purchase of treasury stock, shares							0
Stock-based compensation expense	$ 17,760		17,760
Vesting of restricted stock units and exercise of stock options	(8,330)		(32,634)			$ 24,304
Vesting of restricted stock units and exercise of stock options, shares						476,864
Dividends declared on common stock	(41,319)			(41,319)
Purchase of noncontrolling interest from a consolidated variable interest entity	(6,500)							(6,500)
Net income (loss)	127,622			122,894				4,728
Balance at Jun. 30, 2019	$ 1,958,217	$ 473	1,337,057	701,946	(14,316)	$ (81,381)		14,438
Balance, Shares at Jun. 30, 2019		47,291,463
Balance, Shares at Jun. 30, 2019	(1,188,353)					1,188,353
Balance at Mar. 31, 2019	$ 1,899,010	$ 473	1,332,612	654,682	(14,316)	$ (86,146)		11,705
Balance, Shares at Mar. 31, 2019		47,291,463
Balance, Shares at Mar. 31, 2019						1,275,092
Purchase of treasury stock, shares							0
Stock-based compensation expense	9,691		9,691
Vesting of restricted stock units and exercise of stock options	(481)		(5,246)			$ 4,765
Vesting of restricted stock units and exercise of stock options, shares						86,739
Dividends declared on common stock	(20,738)			(20,738)
Net income (loss)	70,735			68,002				2,733
Balance at Jun. 30, 2019	$ 1,958,217	$ 473	$ 1,337,057	$ 701,946	$ (14,316)	$ (81,381)		$ 14,438
Balance, Shares at Jun. 30, 2019		47,291,463
Balance, Shares at Jun. 30, 2019	(1,188,353)					1,188,353

CONDENSED CONSOLIDATED STATEM_3

CONDENSED CONSOLIDATED STATEMENT OF CHANGES IN STOCKHOLDERS' EQUITY (unaudited) (Parenthetical) - $ / shares	3 Months Ended		6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018
Statement Of Stockholders Equity [Abstract]
Dividends declared on common stock (per share)	$ 0.45	$ 0.375	$ 0.90	$ 0.75

CONDENSED CONSOLIDATED STATEM_4

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (unaudited) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018
Cash flows from operating activities:
Net income (loss)	$ 127,622	$ 133,947
Adjustments to reconcile net income to net cash provided by operating activities:
Provision for bad debt	4,185	6,344
Amortization of broadcast rights	28,297	32,013
Depreciation of property and equipment	55,527	50,904
Amortization of intangible assets	73,095	73,483
Gain on asset disposal, net	(156)	(391)
Amortization of debt financing costs and debt discounts	3,867	5,236
Loss on extinguishment of debt	3,724	1,486
Stock-based compensation expense	17,760	14,595
Deferred income taxes	6,063	5,472
Payments for broadcast rights	(28,300)	(32,787)
Non-cash compensation expense related to an acquisition's contingent consideration		1,233
Other noncash credits, net	(876)	(1,249)
Spectrum repack reimbursements	(33,603)	(7,061)
Changes in operating assets and liabilities, net of acquisitions and dispositions:
Accounts receivable	330	56,939
Prepaid expenses and other current assets	(345)	1,504
Other noncurrent assets	(1,650)	(719)
Accounts payable, accrued expenses and other current liabilities	(3,079)	(27,683)
Taxes payable	(15,395)	12,493
Interest payable	2,350	759
Other noncurrent liabilities	(3,016)	(9,444)
Net cash provided by operating activities	236,400	317,074
Cash flows from investing activities:
Purchases of property and equipment	(71,468)	(36,390)
Payments for acquisitions, net of cash acquired		(85,867)
Spectrum repack reimbursements from the FCC	33,603	7,061
Proceeds from disposals of property and equipment	849	3,874
Proceeds received from settlement of corporate-owned life insurance policies	160	387
Net cash used in investing activities	(36,856)	(110,935)
Cash flows from financing activities:
Proceeds from long-term debt, net of debt discounts		95,759
Repayments of long-term debt	(203,608)	(176,916)
Payments for debt financing costs	(78)
Contributions from a noncontrolling interest		226
Purchase of treasury stock		(50,524)
Proceeds from exercise of stock options	1,483	2,059
Common stock dividends paid	(41,319)	(34,443)
Purchase of noncontrolling interest from a consolidated variable interest entity	(6,393)
Cash paid for shares withheld for taxes	(9,813)	(4,716)
Payments for capital lease and capitalized software obligations	(5,007)	(5,555)
Net cash used in financing activities	(264,735)	(174,110)
Net (decrease) increase in cash, cash equivalents and restricted cash	(65,191)	32,029
Cash, cash equivalents and restricted cash at beginning of period	145,115	115,652
Cash, cash equivalents and restricted cash at end of period	79,924	147,681
Supplemental information:
Interest paid	98,103	104,874
Income taxes paid, net of refunds	52,419	32,781
Non-cash investing and financing activities:
Accrued purchases of property and equipment	23,087	14,376
Right-of-use assets obtained in exchange for operating lease obligations	$ 114,203
Relinquishment of spectrum asset and derecognition of liability to surrender spectrum asset		$ 314,086

CONDENSED CONSOLIDATED STATEM_5

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (unaudited) ((Parenthetical)) - USD ($) $ in Thousands	Jun. 30, 2019	Jan. 01, 2019
Transition adjustment amount	$ 104,729
ASC 842 Adoption Adjustments [Member]
Transition adjustment amount		$ 112,800

Organization and Business Opera

Organization and Business Operations	6 Months Ended
	Jun. 30, 2019
Organization Consolidation And Presentation Of Financial Statements [Abstract]
Organization and Business Operations	1. Organization and Business Operations As of June 30, 2019, Nexstar Media Group, Inc. and its wholly-owned subsidiaries (“Nexstar”) owned, operated, programmed or provided sales and other services to 174 full power television stations, including those owned by consolidated variable interest entities (“VIEs”), in 100 markets in the states of Alabama, Arizona, Arkansas, California, Colorado, Connecticut, Florida, Georgia, Hawaii, Illinois, Indiana, Iowa, Kansas, Louisiana, Maryland,

Summary of Significant Accounti

Summary of Significant Accounting Policies	6 Months Ended
	Jun. 30, 2019
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 "Variable Interest Entities” section). 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, excluding intercompany amounts, that are not available to settle the obligations of Nexstar and the liabilities of consolidated VIEs, excluding intercompany amounts, for which their creditors do not have recourse to the general credit of Nexstar (in thousands): June 30, 2019 December 31, 2018 Current assets $ 24,375 $ 20,898 Property and equipment, net 16,366 10,994 Goodwill 121,600 121,600 FCC licenses 151,808 157,658 Other intangible assets, net 71,936 75,513 Other noncurrent assets, net 9,121 3,652 Total assets $ 395,206 $ 390,315 Current liabilities $ 19,206 $ 17,594 Noncurrent liabilities 36,741 27,542 Total liabilities $ 55,947 $ 45,136 Liquidity The Company is leveraged, which makes it vulnerable to changes in general economic conditions. The Company’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 the Company’s control. On November 30, 2018, Nexstar entered into a definitive merger agreement with Tribune Media Company (“Tribune”) to acquire the latter’s outstanding equity and to settle the outstanding equity-based awards for $46.50 per share in a cash transaction. The estimated total purchase price is $7.165 billion, inclusive of the merger cash consideration, the refinancing of Tribune's outstanding debt and the assumption of outstanding warrants. The estimated purchase price amount does not take into account Tribune’s cash or pension liabilities to be acquired by Nexstar. The merger has been approved by the boards of directors of both companies and the stockholders of Tribune and is projected to close in the third quarter of 2019, subject to (i) Federal Communications Commission (the “FCC”) approval, (ii) other regulatory approvals (including expiration or termination of the waiting period applicable to the merger under the applicable Hart-Scott-Rodino Antitrust Improvements Act of 1976 (the “HSR Act”) (the “HSR Approval”) and (iii) satisfaction of other customary closing conditions On March 20, 2019, Nexstar entered into definitive asset purchase agreements to sell a total of nineteen stations in fifteen markets. Under the terms of the agreements, TEGNA Inc. (“TEGNA”) will acquire eleven stations in eight markets and The E.W. Scripps Company (“Scripps”) will acquire eight stations in seven markets. On April 8, 2019, Nexstar entered into a definitive asset purchase agreement to sell to Circle City Broadcasting I, Inc., a newly-formed minority-led broadcast company majority-owned by DuJuan McCoy, two stations in the Indianapolis, IN market. The total selling price of these proposed divestitures is $1.362 billion, subject to customary purchase price adjustments. The consummation of each divestiture transaction is subject to the satisfaction or waiver of certain customary conditions, including, among others, (i) the closing of the transactions contemplated by the merger agreement, (ii) FCC approval and HSR Approval and (iii) the absence of certain legal impediments to the consummation of such transaction. Nexstar intends to use the net proceeds from the divestitures to partially fund the merger, to refinance the existing indebtedness of Tribune, to pay related fees and expenses and for general corporate purposes. On July 31, 2019, the Department of Justice (“DOJ”) provided its conditional approval of the proposed Nexstar and Tribune merger, but the FCC must still complete its public interest review of the transaction. See Note 3 for additional information on the proposed merger and divestitures and Note 16 for additional information on the DOJ conditional approval. On November 30, 2018, Nexstar received committed financing up to a maximum of $6.4 billion from a group of commercial banks to provide the debt financing to consummate the merger and the refinancing of certain of the existing indebtedness of Tribune and related transactions. On July 3, 2019, Nexstar Escrow, Inc., a wholly-owned indirect subsidiary of Nexstar (“Nexstar Escrow”), completed the sale and issuance of its $1.120 billion 5.625% Senior Unsecured Notes due 2027 (the “5.625% Notes due 2027”) at par. The gross proceeds of the 5.625% Notes due 2027 were deposited in a segregated escrow account and cannot be utilized until certain conditions are satisfied, including the completion of Nexstar’s merger with Tribune. See Note 16 for additional information. The remainder of the committed financing includes $3.740 billion in term loans for which Nexstar recently completed the pricing. These term loans are projected to be issued simultaneously with the completion of Nexstar’s merger with Tribune. Interim Financial Statements The Condensed Consolidated Financial Statements as of June 30, 2019 and for the three and six months ended June 30, 2019 and 2018 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 United States 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 Condensed Consolidated Financial Statements and related Notes included in Nexstar’s Annual Report on Form 10-K for the year ended December 31, 2018. The balance sheet as of December 31, 2018 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 FCC consent. The following table summarizes the various local service agreements Nexstar had in effect as of June 30, 2019 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 Marshall KLJB, KPEJ and KMSS SSA Only 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. Nexstar had a variable interest in HITV License Subsidiary, Inc., the owner of station KHII, upon execution of a TBA effective November 1, 2018 and a purchase agreement to acquire certain assets of the station. On December 17, 2018, the FCC approved Nexstar’s acquisition of the station. Nexstar evaluated its business arrangement with KHII and determined that it was the primary beneficiary of the variable interest because it had the ultimate power to direct the activities that most significantly impact the economic performance of the station including developing the annual operating budget, selling advertising, and oversight and control of sales management personnel. Thus, Nexstar consolidated KHII as of December 17, 2018 under authoritative guidance related to the consolidation of VIEs. The assets that were consolidated into Nexstar included the license assets and network affiliation agreement of KHII but were attributed to the owner of the station at the time (noncontrolling interest). On January 28, 2019, Nexstar paid the former owner the remaining purchase price, acquired the noncontrolling interest in full and completed the acquisition. As of this date, KHII is no longer a VIE. See Note 3 for additional information. The carrying amounts and classification of the assets and liabilities, excluding intercompany amounts, of the VIEs which have been included in the Condensed Consolidated Balance Sheets were as follows (in thousands): June 30, 2019 December 31, 2018 Current assets: Cash and cash equivalents $ 22,083 $ 19,060 Accounts receivable, net 23,676 22,725 Prepaid expenses and other current assets 2,443 4,423 Total current assets 48,202 46,208 Property and equipment, net 38,533 30,861 Goodwill 154,787 154,787 FCC licenses 151,808 157,658 Other intangible assets, net 84,637 89,225 Other noncurrent assets, net 21,117 8,073 Total assets $ 499,084 $ 486,812 Current liabilities: Current portion of debt $ 53,463 $ 54,616 Interest payable 1,061 345 Other current liabilities 19,206 17,594 Total current liabilities 73,730 72,555 Debt 242,452 243,717 Other noncurrent liabilities 36,741 27,542 Total liabilities $ 352,923 $ 343,814 Non-Consolidated VIEs Nexstar has an outsourcing agreement with Cunningham Broadcasting Corporation (“Cunningham”), which continues through December 31, 2020. 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 to Cunningham based on the combined operating cash flow of WMBD and WYZZ, as defined in the agreement. Nexstar has determined that it has a variable interest in WYZZ. Nexstar has evaluated its arrangements with Cunningham and has determined that it is not the primary beneficiary of the variable interest in this station because it does not have the ultimate power to direct the activities that most significantly impact the station’s economic performance, including developing the annual operating budget, programming and oversight and control of sales management personnel. Therefore, Nexstar has not consolidated WYZZ under authoritative guidance related to the consolidation of VIEs. Under the local service agreement for WYZZ, Nexstar pays for certain operating expenses, and therefore may have unlimited exposure to any potential operating losses. Nexstar’s management believes that Nexstar’s minimum exposure to loss under the WYZZ agreement consists of the fees paid to Cunningham. Additionally, Nexstar indemnifies the owners of Cunningham from and against all liability and claims arising out of or resulting from its activities, acts or omissions in connection with the agreement. The maximum potential amount of future payments Nexstar could be required to make for such indemnification is undeterminable at this time. There were no significant transactions arising from Nexstar’s outsourcing agreement with Cunningham. Leases As discussed in the “Recent Accounting Pronouncements” section below, the Company adopted Accounting Standards Update (“ASU”) No. 2016-02, Leases (Topic 842) and all related amendments issued by the Financial Accounting Standards Board (“FASB”). Accounting Standards Codification (“ASC”) 842 establishes a comprehensive new lease accounting model that requires the recording of assets and liabilities arising from operating leases on the balance sheet accompanied by enhanced qualitative and quantitative disclosures in the notes to the financial statements. The standard was issued to help investors and other financial statement users better understand the amount, timing, and uncertainty of cash flows arising from leases. The Company adopted this standard effective January 1, 2019 using the optional transition method. The most significant impact was the recognition of right-of-use (“ROU”) assets and lease liabilities for operating leases, while the Company’s accounting for finance leases remained substantially unchanged. Financial information for reporting periods beginning after January 1, 2019 is presented under ASC 842, while comparative financial information has not been adjusted and continues to be reported in accordance with the Company’s historical accounting policy for lease contracts prior to the adoption of ASC 842. The Company has elected the ‘package of practical expedients’ permitted under the transition guidance within ASC 842, which permits the Company to carry forward the historical lease classification and not reassess whether any expired or existing contracts are or contain leases. In addition, the Company is not required to reassess initial direct costs for any existing leases. The Company did not elect the land easements and the use of hindsight practical expedients in determining the lease term for existing leases. ASC 842 also provides practical expedients for an entity’s ongoing accounting. The Company has elected the short-term lease recognition exemption for all leases that qualify. As a result, for those leases with a term of less than 12 months, it will not recognize ROU assets or lease liabilities. The vast majority of the Company’s television station leases are comprised of fixed lease payments, with a small percentage of television station lease payments that are tied to a rate or index which may be subject to variability. For these leases, the calculation of the present value of future minimum lease payments is the base rate as of the later of (i) when the television station was acquired by the Company, or (ii) the commencement date of the lease agreement. Certain real estate leases also include executory costs such as common area maintenance (non-lease component), as well as property insurance and property taxes (non-components). These are not significant and the Company historically excluded these executory costs from its future minimum lease payments under its historical policy prior to the adoption of ASC 842. As such, the executory costs were excluded from the calculation of ROU assets and lease liabilities associated with operating leases upon transition. The Company’s lease terms may include options to extend or terminate the lease when it is reasonably certain that it will exercise that option. The discount rate represents a risk-adjusted rate on a secured basis, and is the rate at which the Company would borrow funds to satisfy the scheduled lease liability payment streams commensurate with the lease term. On January 1, 2019, the discount rate used on existing leases at adoption was determined based on the remaining lease term using available data as of that date. The Company recognized operating lease ROU assets on its Condensed Consolidated Balance Sheet as of January 1, 2019 of $112.8 million, inclusive of the present value of remaining future operating lease payments of $98.9 million and reclassifications of certain operating lease related assets and liabilities under the Company’s historical accounting policy prior to the adoption of ASC 842 such as favorable (unfavorable) lease intangible assets, deferred rent, short-term and long-term prepaid expenses and other accruals. These are summarized in the table below (in thousands). The adoption did not result in a cumulative impact on retained earnings as of January 1, 2019. ASC 842 Adoption Adjustments Present Value of Remaining Operating Lease Reclassifications of Operating Lease Related Balance Sheet Items to Operating Lease ROU Assets Impact on Consolidated Balance Sheets December 31, 2018 Payments as of January 1, 2019 Net Favorable Leases Deferred Rent Other Total Adjustments January 1, 2019 Prepaid expenses and other current assets $ 22,673 $ - $ - $ - $ (270 ) $ (270 ) $ 22,403 Other intangible assets, net 1,491,923 - (24,181 ) - - (24,181 ) 1,467,742 Other noncurrent assets, net 125,272 98,887 24,181 (9,781 ) (720 ) 112,567 237,839 Total assets 7,062,030 98,887 - (9,781 ) (990 ) 88,116 7,150,146 Other current liabilities 12,352 17,399 - (1,645 ) (423 ) 15,331 27,683 Other noncurrent liabilities 270,084 81,488 - (8,136 ) (567 ) 72,785 342,869 Total liabilities 5,193,046 98,887 - (9,781 ) (990 ) 88,116 5,281,162 After transition to ASC 842, the Company determines if an arrangement is a lease at inception. The ROU assets arising from operating leases are included in other noncurrent assets, other current liabilities and other noncurrent liabilities in the accompanying Condensed Consolidated Balance Sheets. Operating lease ROU assets and operating lease liabilities that are recognized after the adoption of ASC 842 are based on the present value of the future minimum lease payments over the lease term at the commencement date. The operating lease ROU asset also includes any lease payments made and excludes lease incentives and executory costs (not significant). The Company’s lease terms may include options to extend or terminate the lease when it is reasonably certain that it will exercise that option. When determining if a renewal option is reasonably certain of being exercised, the Company considers several factors, including but not limited to, the significance of leasehold improvements incurred on the property, whether the asset is difficult to replace, or specific characteristics unique to the particular lease that would make it reasonably certain that the Company would exercise such option. In most cases, the Company has concluded that renewal and early termination options are not reasonably certain of being exercised by the Company (and thus not included in its ROU asset and lease liability) unless there is an economic, financial or business reason to do so. As most of the Company’s leases do not provide an implicit rate, the incremental borrowing rate was used based on the information available at the commencement date in determining the present value of future lease payments. The discount rate represents a risk-adjusted rate on a secured basis and is the rate at which the Company would borrow funds to satisfy the scheduled lease liability payment streams commensurate with the lease term. For new or renewed leases starting in 2019, the discount rate is determined using available data at lease commencement and based on the lease term including any reasonably certain renewal periods. Lease expense for minimum lease payments is recognized on a straight-line basis over the lease term. In rare circumstances, the Company may enter into finance leases for specific equipment or real estate used in its operations, in which the lease term is for the major part of the remaining economic life of the underlying asset or the present value of the lease payments equals or exceeds substantially all of the estimated fair value of the underlying asset. The Company records its finance leases within property, plant and equipment, other current liabilities and other noncurrent liabilities on the accompanying Condensed Consolidated Balance Sheets. See Note 8 for additional disclosures on leases as of June 30, 2019. 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 7 for fair value disclosures related to the Company’s debt. Income Per Share Basic income per share is computed by dividing the net income 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 shares were issued upon exercise of stock options and vesting of restricted stock units. The following table shows the amounts used in computing the Company’s diluted shares (in thousands): Three Months Ended Six Months Ended June 30, June 30, 2019 2018 2019 2018 Weighted average shares outstanding - basic 46,090 45,631 45,938 45,852 Dilutive effect of equity incentive plan instruments 1,881 1,516 1,940 1,562 Weighted average shares outstanding - diluted 47,971 47,147 47,878 47,414 There were no anti-dilutive shares during each of the three months ended June 30, 2019 and 2018. Stock options and restricted stock units to acquire a weighted average of 15,000 shares and 38,000 shares for the six months ended June 30, 2019 and 2018, 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 February 2016, the FASB issued ASU No. 2016-02, Leases (Topic 842). The Company adopted this standard and all related amendments effective January 1, 2019 using the optional transition method. The standard had a material impact on the Company’s Condensed Consolidated Balance Sheets but did not impact its operating results, cash flows or equity. The most significant impact was the recognition of ROU assets and lease liabilities for operating leases, while our accounting for finance leases remained substantially unchanged. The adoption did not result in a cumulative impact on retained earnings as of January 1, 2019. See Leases above for the Company’s updated accounting policy and Note 8 for expanded disclosures. New Accounting Standards Not Yet Adopted In June 2016, the FASB issued ASU No. 2016-13, Financial Instruments - Credit Losses (Topic 326) (“ASU 2016-13”). 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 model 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. In November 2018, the FASB issued ASU No. 2018-19 to clarify the scope of the guidance in the amendments in ASU 2016-13. 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 Condensed Consolidated Financial Statements. In August 2018, the FASB issued ASU No. 2018-13, Fair Value Measurement (Topic 820) (“ASU 2018-13”), which modifies the disclosure requirements on fair value measurements. The amendments in this update are effective for all entities for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2019. In August 2018, the FASB issued ASU 2018-14, Compensation-Retirement Benefits-Defined Benefit Plans-General (Subtopic 715-20) (“ASU 2018-14”). ASU 2018-14 removes certain disclosures that are not considered cost beneficial, clarifies certain required disclosures and adds additional disclosures. The amendments in ASU 2018-14 are effective for fiscal years ending after December 15, 2020, and early adoption is permitted. The updated standard should be applied on a retrospective basis. The Company is currently evaluating the impact of adopting ASU 2018-14 on its Condensed Consolidated Financial Statements. In October 2018, the FASB issued ASU 2018-17, Consolidation (Topic 810): Targeted Improvements to Related Party Guidance for Variable Interest Entities (“ASU 2018-17”). The amendments in ASU 2018-17 for determining whether a decision-making fee is a variable interest require reporting entities to consider indirect interests held through related parties under common control on a proportional basis rather than as the equivalent of a direct interest in its entirety (as currently required in GAAP). Therefore, these amendments likely will result in more decision makers not having a variable interest through their decision-making arrangements. The amendments in ASU 2018-17 are effective for interim and annual reporting periods beginning after December 15, 2019, and early adoption is permitted. The Company is currently evaluating the impact of adopting ASU 2018-17 on its Consolidated Financial Statements.

Acquisitions and Dispositions

Acquisitions and Dispositions	6 Months Ended
	Jun. 30, 2019
Business Combinations [Abstract]
Acquisitions and Dispositions	3. Acquisitions and Dispositions Merger Agreement with Tribune On November 30, 2018, Nexstar entered into a definitive merger agreement with Tribune to acquire Tribune’s outstanding equity for $46.50 per share in a cash transaction. All equity-based awards of Tribune that are outstanding prior to the merger will vest in full and will be converted into the right to receive the same cash consideration. All outstanding warrants of Tribune will be assumed by Nexstar. The estimated total purchase price is $7.165 billion, inclusive of the merger cash consideration, the refinancing of Tribune's outstanding debt and the assumption of outstanding warrants. The merger agreement contains certain termination rights for both Nexstar and Tribune. If the merger agreement is terminated in connection with Tribune entering into a definitive agreement with respect to a superior proposal, as well as under certain other circumstances, the termination fee payable by Tribune to Nexstar will be $135 million. Either party may terminate the merger agreement if the merger is not consummated on or before an end date of November 30, 2019, with an automatic extension to February 29, 2020, if necessary, to obtain regulatory approval under circumstances specified in the merger agreement. The merger has been approved by the boards of directors of both companies and the stockholders of Tribune and is projected to close in the third quarter of 2019, subject to (i) FCC approval, (ii) other regulatory approvals (including HSR Approval) and (iii) satisfaction of other customary closing conditions. The merger does not require approval of our stockholders and is not subject to any financing contingency. On November 30, 2018, Nexstar received committed financing up to a maximum of Tribune is a diversified media and entertainment business, which currently owns or provides certain services to 44 local television stations (including two satellite television stations) and one AM radio station. In connection with obtaining the HSR Approval and the FCC approval, Nexstar agreed to divest one or more television stations in certain Designated Market Areas (“DMAs”). On March 20, 2019, Nexstar entered into definitive asset purchase agreements to sell a total of nineteen stations in fifteen markets. Under the terms of the agreements, TEGNA will acquire eleven stations in eight markets and Scripps will acquire eight stations in seven markets. Under the terms of the asset purchase agreement with TEGNA, TEGNA will acquire substantially all of the assets of television broadcast stations (i) WTIC and WCCT in Hartford-New Haven, CT; (ii) WPMT in Harrisburg-Lancaster-Lebanon-York, PA; (iii) WATN and WLMT in Memphis, TN; (iv) WNEP in Wilkes Barre-Scranton, PA; (v) WOI and KCWI in Des Moines-Ames, IA; (vi) WZDX in Huntsville-Decatur (Florence), AL; (vii) WQAD in Davenport, IA-Rock Island-Moline, IL; and (viii) KFSM in Ft. Smith-Fayetteville-Springdale-Rogers, AR for cash consideration of $740 million (subject to customary purchase price adjustments). Under the terms of the asset purchase agreement with Scripps, Scripps will acquire substantially all of the assets of television broadcast stations (i) KASW in Phoenix (Prescott), AZ; (ii) WPIX in New York, NY, (iii) WSFL-TV in Miami-Ft. Lauderdale, FL, (iv) KSTU in Salt Lake City, UT, (v) WTKR and WGNT in Norfolk-Portsmouth-Newport News, VA, (vi) WXMI in Grand Rapids-Kalamazoo-Battle Creek, MI and (vii) WTVR-TV in Richmond-Petersburg, VA for cash consideration of $580 million (subject to customary purchase price adjustments). WPIX, WSFL and KASW are being divested in order to bring Nexstar into compliance with the FCC’s national ownership cap. On April 8, 2019, Nexstar entered into a definitive asset purchase agreement to sell to Circle City Broadcasting I, Inc., a newly-formed minority-led broadcast company majority-owned by DuJuan McCoy, two stations in Indianapolis, IN -- WISH, the CW affiliate, and WNDY, the MyNetwork TV affiliate -- for $42.5 million in cash. The consummation of each divestiture transaction is subject to the satisfaction or waiver of certain customary conditions, including, among others, (i) the closing of the transactions contemplated by the Tribune Merger Agreement, (ii) the receipt of approval from the FCC and the expiration or termination of any waiting period applicable to such transaction under the HSR Act, as amended, and (iii) the absence of certain legal impediments to the consummation of such transaction. The consummation of each divestiture transaction is expected to occur simultaneously with the closing of the merger. On July 31, 2019, the DOJ provided its conditional approval of the proposed Nexstar and Tribune merger, but the FCC must still complete its public interest review of the transaction. See Note 3 for additional information on the proposed merger and divestitures and Note 16 for additional information on the DOJ conditional approval. KHII KHII operated under a TBA with Nexstar that began on November 1, 2018. On December 17, 2018, Nexstar became the primary beneficiary of its variable interest in KHII and its satellite stations and consolidated the assets that Nexstar agreed to acquire as of this date, all of which were attributed to noncontrolling interest. On January 28, 2019, Nexstar completed its acquisition of KHII and paid the remaining purchase price of $6.4 million, funded by cash on hand. Accordingly, this final payment and the previous deposit of $0.1 million were utilized by Nexstar to acquire in full the noncontrolling interest at KHII of $6.5 million. As of January 28, 2019, the TBA was terminated and KHII is no longer a VIE.

Intangible Assets and Goodwill

Intangible Assets and Goodwill	6 Months Ended
	Jun. 30, 2019
Goodwill And Intangible Assets Disclosure [Abstract]
Intangible Assets and Goodwill	4. Intangible Assets and Goodwill Intangible assets subject to amortization consisted of the following (in thousands): Estimated June 30, 2019 December 31, 2018 useful life, Accumulated Accumulated in years Gross Amortization Net Gross Amortization Net Network affiliation agreements 15 $ 1,977,825 $ (632,497 ) $ 1,345,328 $ 1,977,825 $ (575,860 ) $ 1,401,965 Other definite-lived intangible assets 1-20 222,767 (171,237 ) 51,530 246,137 (156,179 ) 89,958 Other intangible assets $ 2,200,592 $ (803,734 ) $ 1,396,858 $ 2,223,962 $ (732,039 ) $ 1,491,923 Upon adoption of ASC 842 on January 1, 2019, the Company’s other intangible assets amounting to $24.2 million representing favorable leases, net was reclassified to ROU assets which is included in the “other noncurrent assets, net” in the Condensed Consolidated Balance Sheets (see Note 2). The following table presents the Company’s estimate of amortization expense for the remainder of 2019, each of the five succeeding years ended December 31 and thereafter for definite-lived intangible assets as of June 30, 2019 (in thousands): Remainder of 2019 $ 71,470 2020 131,376 2021 116,075 2022 113,645 2023 112,353 2024 111,837 Thereafter 740,102 $ 1,396,858 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, 2018 $ 2,257,774 $ (89,820 ) $ 2,167,954 $ 1,825,678 $ (47,410 ) $ 1,778,268 Measurement period adjustments (1,544 ) - (1,544 ) - - - Balances as of June 30, 2019 $ 2,256,230 $ (89,820 ) $ 2,166,410 $ 1,825,678 $ (47,410 ) $ 1,778,268 During 2019, Nexstar recorded measurement period adjustments related to a station acquired in 2018 and recognized a $1.5 million reduction to goodwill, representing working capital adjustments. 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 and six months ended June 30, 2019 , the Company did not identify any events that would trigger impairment assessment.

Accrued Expenses

Accrued Expenses	6 Months Ended
	Jun. 30, 2019
Payables And Accruals [Abstract]
Accrued Expenses	5. Accrued Expenses Accrued expenses consisted of the following (in thousands): June 30, 2019 December 31, 2018 Compensation and related taxes $ 46,369 $ 44,269 Network affiliation fees 19,977 21,916 Capital expenditures 21,657 18,273 Other 52,990 59,392 $ 140,993 $ 143,850

Retirement and Postretirement P

Retirement and Postretirement Plans	6 Months Ended
	Jun. 30, 2019
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 Sheets. 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 (credit) for the Company’s pension and other postretirement benefit plans (“OPEB”) (in thousands): Three Months Ended Six Months Ended June 30, 2019 June 30, 2019 Pension Benefits OPEB Pension Benefits OPEB Interest cost $ 3,875 $ 200 $ 7,750 $ 400 Expected return on plan assets (5,475 ) - (10,950 ) - Net periodic benefit (income) cost $ (1,600 ) $ 200 $ (3,200 ) $ 400 Three Months Ended Six Months Ended June 30, 2018 June 30, 2018 Pension Benefits OPEB Pension Benefits OPEB Interest cost $ 3,350 $ 150 $ 6,700 $ 300 Expected return on plan assets (6,450 ) - (12,900 ) - Net periodic benefit (income) cost $ (3,100 ) $ 150 $ (6,200 ) $ 300 The Company has no required contributions to its qualified retirement plan in 2019. Payments to fund the obligations under the remaining plans are considered contributions and are expected to be less than $6.0 million in 2019.

Debt

Debt	6 Months Ended
	Jun. 30, 2019
Debt Disclosure [Abstract]
Debt	7. Debt Long-term debt consisted of the following (in thousands): June 30, December 31, 2019 2018 Term loans, net of financing costs and discount of $30,598 and $37,679, respectively $ 2,210,962 $ 2,407,490 Revolving loans 5,628 5,628 6.125% Senior unsecured notes due 2022, net of financing costs of $1,327 and $1,556, respectively 273,673 273,444 5.875% Senior unsecured notes due 2022, plus premium of $5,342 and $6,233, respectively 405,342 406,233 5.625% Senior unsecured notes due 2024, net of financing costs of $10,887 and $11,792, respectively 889,113 888,208 3,784,718 3,981,003 Less: current portion (94,940 ) (96,093 ) $ 3,689,778 $ 3,884,910 2019 Transactions Nexstar prepaid a total of $100.0 million and $180.0 million in principal balance under certain of its term loans, during the three and six months ended June 30, 2019, respectively, funded by cash on hand. This resulted in loss on extinguishments of debt of $2.0 million and $3.7 million for the three and six months ended June 30, 2019, respectively, representing write-offs of unamortized debt financing costs and discounts. During the six months ended June 30, 2019, the Company also repaid scheduled maturities of $23.6 million of its term loans. Unused Commitments and Borrowing Availability The Company had $166.4 million of total unused revolving loan commitments under its senior secured credit facilities, all of which was available for borrowing, based on the covenant calculations as of June 30, 2019. The Company’s ability to access funds under its senior secured credit facilities depends, in part, on its compliance with certain financial covenants. As of June 30, 2019, the Company was in compliance with its financial covenants. On November 30, 2018, Nexstar received committed financing up to a maximum of $ 6.4 billion from a group of commercial banks to provide the debt financing to consummate its proposed merger with Tribune and the refinancing of certain of the existing indebtedness of Tribune and related transactions. The merger has been approved by the boards of directors of both companies and is projected to close in the third quarter of 2019, subject to FCC approval, other regulatory approvals and satisfaction of other customary closing conditions. On July 3, 2019, Nexstar Escrow completed the sale and issuance of $1.120 billion 5.625% Notes due 2027 at par. The gross proceeds of the 5.625% Notes due 2027 were deposited in a segregated escrow account and cannot be utilized until certain conditions are satisfied, including the completion of Nexstar’s merger with Tribune. See Note 16 for additional information. The remainder of the committed financing includes $3.740 billion in term loans for which Nexstar recently completed the pricing. These term loans are projected to be issued simultaneously with the completion of Nexstar’s merger with Tribune. 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, a consolidated VIE, and Nexstar Digital LLC (“Nexstar Digital”), a wholly-owned subsidiary of Nexstar, are both guarantors of Nexstar’s senior secured credit facility. Mission is also a guarantor of the 6.125% senior secured notes due 2022 (the “6.125% Notes”) and the 5.625% senior unsecured notes due 2024 (the “5.625% Notes due 2024”) 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 2021 and 2028) 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 4.25 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 June 30, 2019, the Company was in compliance with its financial covenants. Fair Value of Debt The aggregate carrying amounts and estimated fair values of the Company’s debt were as follows (in thousands): June 30, 2019 December 31, 2018 Carrying Fair Carrying Fair Amount Value Amount Value Term loans (1) $ 2,210,962 $ 2,215,451 $ 2,407,490 $ 2,389,439 Revolving loans (1) 5,628 5,593 5,628 5,528 6.125% Senior unsecured notes (2) 273,673 278,438 273,444 275,688 5.875% Senior unsecured notes (2) 405,342 409,000 406,233 397,000 5.625% Senior unsecured notes (2) 889,113 929,250 888,208 837,000 (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.

Leases

Leases	6 Months Ended
	Jun. 30, 2019
Leases [Abstract]
Leases	8. Leases The Company as a Lessee The Company has operating and finance leases for office space, vehicles, tower facilities, antenna sites, studio and other real estate properties and equipment. The Company’s leases have remaining lease terms of one year to 95 years, some of which may include options to extend the leases from two to 99 years, and some of which may include options to terminate the leases within two years. The depreciable lives of assets and leasehold improvements are limited by the expected lease term, unless there is a transfer of title or purchase option reasonably certain of exercise. Lease contracts that the Company has executed but which have not yet commenced as of June 30, 2019 were not material and are excluded. (In thousands) Balance Sheet Classification June 30, 2019 Operating leases Operating lease right-of-use assets, net Other noncurrent assets, net $ 104,729 Current lease liabilities Other current liabilities $ 16,691 Noncurrent lease liabilities Other noncurrent liabilities $ 73,634 Finance leases Finance lease right-of-use assets, net of accumulated depreciation of $4,332 Property, plant and equipment, net $ 8,733 Current lease liabilities Other current liabilities $ 852 Noncurrent lease liabilities Other noncurrent liabilities $ 15,647 Operating lease expenses for the three and six months ended June 30, 2019 were $5.3 million and $10.8 million, respectively, inclusive of immaterial short-term and variable lease costs. During the three and six months ended June 30, 2019, $3.1 million and $6.2 million, respectively, of operating lease costs are included in direct operating expenses, excluding depreciation and amortization. $2.3 million and $4.7 million, respectively, of operating lease costs are included in Selling, general and administrative expenses, excluding depreciation and amortization in the accompanying Condensed Consolidated Statements of Operations. Other information related to leases as of June 30, 2019 was as follows (in thousands, except lease term and discount rate): Supplemental Cash Flows Information Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows from operating leases $ 11,232 Operating cash flows from finance leases 478 Financing cash flows from finance leases 404 Weighted Average Remaining Lease Term Operating leases 7.1 years Finance leases 12.0 years Weighted Average Discount Rate Operating leases 5.2 % Finance leases 5.7 % Future minimum lease payments under non-cancellable leases as of June 30, 2019 were as follows (in thousands): Operating Leases Finance Leases Remainder of 2019 $ 10,771 $ 884 2020 19,657 1,795 2021 16,682 1,843 2022 13,759 1,803 2023 11,203 1,818 Thereafter 37,677 15,202 Total future minimum lease payments 109,749 23,345 Less imputed interest (19,422 ) (6,846 ) Total $ 90,327 $ 16,499 The Company as a Lessor The Company has various arrangements under which it is the lessor for the use of its tower space. These leases meet the criteria for operating lease classification, but the associated lease income is not material. As part of the adoption, the Company elected the practical expedient to combine lease and non-lease components in its lessor arrangements.

Common Stock

Common Stock	6 Months Ended
	Jun. 30, 2019
Equity [Abstract]
Common Stock	9. Common Stock On April 26, 2018, Nexstar’s Board of Directors approved a $200 million increase in Nexstar’s share repurchase authorization to repurchase its Class A common stock. As of June 30, 2019, the remaining available amount under the share repurchase authorization was $201.9 million, inclusive of the 2018 authorization and the remaining balance from prior authorization. There were no share repurchases of Nexstar’s Class A common stock during the three and six months ended June 30, 2019. 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.

Stock-Based Compensation Plans

Stock-Based Compensation Plans	6 Months Ended
	Jun. 30, 2019
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]
Stock-Based Compensation Plans	10. Stock-Based Compensation Plans During the six months ended June 30, 2019, Nexstar granted 340,500 time-based restricted stock units and 113,334 performance-based restricted stock units to employees and non-employee directors with an estimated fair value of $33.0 million and $9.6 million, respectively. The time-based restricted stock units vest over a range of three to four years from the date of the award. The performance-based restricted stock units vest over a range of three to four years from the date of the award, subject to the achievement of pre-established Company performance metrics. During the three months ended June 30, 2018, Nexstar granted 224,000 restricted stock units to employees with an estimated fair value of $13.6 million. During the six months ended June 30, 2018, Nexstar granted 651,500 restricted stock units to employees and non-employee directors with an estimated fair value of $42.2 million. The restricted stock units vest over a range of three to four years from the date of the award. On June 5, 2019, a majority of Nexstar’s stockholders approved the 2019 Long-Term Equity Incentive Plan. A maximum of 3,100,000 shares of Nexstar’s Class A common stock may be issued under this plan, of which no stock-based awards were granted as of June 30, 2019.

Income Taxes

Income Taxes	6 Months Ended
	Jun. 30, 2019
Income Tax Disclosure [Abstract]
Income Taxes	11. Income Taxes Income tax expense was $26.6 million for the three months ended June 30, 2019 compared to $33.3 million for the same period in 2018. The effective tax rates were consistent at 27.4% and 27.8% for each of the respective periods. Income tax expense was $43.1 million for the six months ended June 30, 2019, compared to $50.8 million for the same period in 2018. The effective tax rates were 25.2% and 27.5% for each of the respective periods. The decrease in the effective tax rate between the two periods was primarily due to a $4.5 million increase in the deduction for excess tax benefits related to stock-based compensation, resulting in a decrease in the effective tax rate of 2.7%.

FCC Regulatory Matters

FCC Regulatory Matters	6 Months Ended
	Jun. 30, 2019
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 by 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 previously adopted 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 JSA. 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 that court. In December 2018, the FCC initiated its 2018 quadrennial review with the issuance of a Notice of Proposed Rulemaking. Among other things, the FCC seeks comment on all aspects of the local television ownership rule’s implementation and whether the current version of the rule remains necessary in the public interest. Comments and reply comments in the 2018 quadrennial review were filed in the second quarter of 2019. 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 this “UHF discount,” 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, which became effective again on June 15, 2017. A federal court of appeals dismissed a petition for review of the discount’s reinstatement in July 2018. In December 2017, the FCC initiated a comprehensive rulemaking to evaluate the UHF discount together with the national ownership limit. Comments and reply comments were filed in 2018, and the proceeding remains open. Nexstar is in compliance with the 39% national cap limitation. 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 their spectrum in exchange for consideration, and certain wireless broadband providers and other entities submitted successful bids to acquire the relinquished television spectrum. Over the next several years, television stations that are not relinquishing their spectrum are being “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, a consolidated VIE, accepted bids to relinquish their spectrum. On July 21, 2017, the Company received $478.6 million of gross proceeds from the FCC related to the incentive auction. These were recorded as liability to surrender spectrum asset pending the relinquishment of spectrum assets or conversion from UHF to VHF. Of the 11 total stations that accepted bids, one station went off the air in November 2017. The associated spectrum asset and liability to surrender spectrum, both amounting to $34.6 million, were derecognized in the fourth quarter of 2017. The station that went off the air did not have a significant impact on the Company’s financial results because it was located in a remote rural area of the country and the Company has other stations which serve the same area. Of the remaining ten stations, eight have ceased broadcasting on their previous channels and implemented channel sharing agreements. As a result, the associated spectrum asset and liability to surrender spectrum, both amounting to $314.1 million, were derecognized in the second quarter of 2018. The remaining two stations will move to VHF channels and 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 newly assigned channels and must cease operating on their former channels on a rolling schedule ending in July 2020. Congress has allocated up to an industry-wide total of $ 2.75 billion to reimburse television broadcasters, multichannel video programming 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. This fund is not available to reimburse repacking costs for stations which are surrendering their spectrum and entering into channel sharing relationships. Broadcasters and MVPDs have submitted estimates to the FCC of their reimbursable costs. As of February 6, 2019, these costs were approximately $ 1.9 billion, and the FCC has indicated that it expects those costs to rise. During the three and six months ended June 30, 2019, the Company spent a total of $ 22.6 million and $ million, respectively, in capital expenditures related to station repack which were recorded as assets under the property and equipment caption in the accompanying Condensed Consolidated Balance Sheets. During the three and six months ended June 30, 2018, the Company spent a total of $ 1.5 million and $ 6.9 million, respectively, in capital expenditures related to station repack which were recorded as assets under the property and equipment caption in the accompanying Condensed Consolidated Balance Sheets. During the three and six months ended June 30, 2019, the Company received $ 19.4 million and $ 33.6 million, respectively, in reimbursements from the FCC related to these expenditures which were recorded as operating income in the accompanying Condensed Consolidated Statements of Operations. During the three and six months ended June 30, 2018, the Company received $ 5.7 million and $ 7.1 million, respectively, in reimbursements from the FCC related to these expenditures which were recorded as operating income in the accompanying Condensed Consolidated Statements of Operations. The Company cannot determine if the FCC will be able to fully reimburse its repacking costs as this is dependent on certain factors, including the Company’s ability to incur repacking costs that are equal to or less than the FCC’s allocation of funds to the Company and whether the FCC will have available funds to reimburse the Company for additional repacking costs that it previously may not have anticipated. Whether the FCC will have available funds for additional reimbursements will also depend on the repacking costs that will be incurred by other broadcasters, MVPDs and other parties that are also seeking reimbursements. The reallocation of television spectrum to broadband use may be to the detriment of the Company’s investment in digital facilities, could require substantial additional investment to continue current operations, and may require viewers to invest in additional equipment or subscription services to continue receiving broadcast television signals. The Company cannot predict the impact of the incentive auction and subsequent repacking on its business. Exclusivity/Retransmission Consent On March 3, 2011, the FCC initiated a Notice of Proposed Rulemaking which among other things 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 sought 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 if they are adopted. 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, online video distributors (“OVDs”) have begun streaming broadcast programming over the Internet. In June 2014, the U.S. Supreme Court held that an OVD’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 OVDs 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 OVDs. Comments and reply comments were filed in 2015. Although the FCC has not classified OVDs as MVPDs to date, several OVDs 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	6 Months Ended
	Jun. 30, 2019
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 is unable to repay amounts due, Nexstar will be obligated to repay such amounts. The maximum potential amount of future payments that Nexstar would be required to make under these guarantees would be generally limited to the borrowings outstanding. As of June 30, 2019, Mission had a maximum commitment of $226.9 million under its senior secured credit facility, of which $223.9 million of debt was outstanding, Marshall had used all of its commitment and had outstanding debt obligations of $50.0 million and Shield had also used all of its commitment and had outstanding obligations of $22.1 million. Based on the terms of the credit agreements, Mission’s outstanding debt is due January 2024, Marshall’s outstanding debt is due December 2019 and Shield’s outstanding debt is due October 2023. Marshall’s debt is included in the current liabilities in the accompanying 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. On March 16, 2018, a group of companies including Nexstar (the “Defendants”) received a Civil Investigative Demand from the Antitrust Division of the DOJ regarding an investigation into the exchange of certain information related to the pacing of sales related to the same period in the prior year among broadcast stations in some DMAs in alleged violation of federal antitrust law. Other Defendants entered into a proposed consent decree (referred to herein as the “consent decree”) with the DOJ on November 6, 2018. Without admitting any wrongdoing, Nexstar agreed to settle the matter with the DOJ on December 5, 2018. The DOJ filed an amended complaint adding Nexstar to the consent decree on December 13, 2018. The consent decree was entered in final form by the U.S. District Court for the District of Columbia on May 22, 2019. The consent decree, which settles any claims by the government of alleged violations of federal antitrust laws in connection with the alleged information sharing, does not include any financial penalty. Pursuant to the consent decree, Nexstar has agreed not to exchange certain non-public information with other stations operating in the same DMA except in certain cases, and to implement certain antitrust compliance measures and to monitor and report on compliance with the consent decree. On July 30, 2018, Clay, Massey & Associates, PC filed an antitrust class action complaint in the U.S. District Court for the Northern District of Illinois on behalf of itself and all others similarly situated against Gray Television, Inc., Hearst Communications, Nexstar Media Group, Inc., Tegna Inc., Tribune Media Company and Sinclair Broadcast Group, Inc. The lawsuit alleges unlawful coordination between broadcast television station owners to artificially increase prices of television spot advertisements in violation of Section 1 of the Sherman Act (15 U.S.C. §1). Nexstar has since been named in 15 similar complaints. On October 9, 2018, these cases were consolidated in a multi-district litigation in the District Court for the Northern District of Illinois captioned In Re: Local TV Advertising Antitrust Litigation

Segment Data

Segment Data	6 Months Ended
	Jun. 30, 2019
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, digital businesses and eliminations. Segment financial information is included in the following tables for the periods presented (in thousands): Three Months Ended June 30, 2019 Broadcast Other Consolidated Net revenue $ 621,895 $ 27,117 $ 649,012 Depreciation 25,422 2,668 28,090 Amortization of intangible assets 30,770 5,587 36,357 Income (loss) from operations 192,093 (42,149 ) 149,944 Three Months Ended June 30, 2018 Broadcast Other Consolidated Net revenue $ 622,888 $ 37,435 $ 660,323 Depreciation 20,961 4,129 25,090 Amortization of intangible assets 31,876 5,305 37,181 Income (loss) from operations 207,543 (33,049 ) 174,494 Six Months Ended June 30, 2019 Broadcast Other Consolidated Net revenue $ 1,221,078 $ 54,581 $ 1,275,659 Depreciation 49,049 6,478 55,527 Amortization of intangible assets 61,615 11,480 73,095 Income (loss) from operations 360,593 (83,575 ) 277,018 Six Months Ended June 30, 2018 Broadcast Other Consolidated Net revenue $ 1,199,873 $ 75,786 $ 1,275,659 Depreciation 42,361 8,543 50,904 Amortization of intangible assets 63,929 9,554 73,483 Income (loss) from operations 360,110 (68,000 ) 292,110 As of June 30, 2019 Broadcast Other Consolidated Goodwill $ 2,123,935 $ 42,475 $ 2,166,410 Assets 6,673,782 357,753 7,031,535 As of December 31, 2018 Broadcast Other Consolidated Goodwill $ 2,125,479 $ 42,475 $ 2,167,954 Assets 6,622,604 439,426 7,062,030 The following tables present the disaggregation of the Company’s revenue for the periods presented (in thousands): Three Months Ended June 30, 2019 Broadcast Other Consolidated Local $ 199,279 $ - $ 199,279 National 68,332 - 68,332 Political 3,157 - 3,157 Retransmission compensation 314,268 - 314,268 Digital 29,135 27,102 56,237 Other 3,610 15 3,625 Trade revenue 4,114 - 4,114 Total revenue $ 621,895 $ 27,117 $ 649,012 Three Months Ended June 30, 2018 Broadcast Other Consolidated Local $ 198,560 $ - $ 198,560 National 71,633 - 71,633 Political 31,636 - 31,636 Retransmission compensation 276,273 - 276,273 Digital 26,578 37,421 63,999 Other 14,191 14 14,205 Trade revenue 4,017 - 4,017 Total revenue $ 622,888 $ 37,435 $ 660,323 Six Months Ended June 30, 2019 Broadcast Other Consolidated Local $ 387,445 $ - $ 387,445 National 132,010 - 132,010 Political 4,464 - 4,464 Retransmission compensation 628,242 - 628,242 Digital 54,521 54,551 109,072 Other 7,459 30 7,489 Trade revenue 6,937 - 6,937 Total revenue $ 1,221,078 $ 54,581 $ 1,275,659 Six Months Ended June 30, 2018 Broadcast Other Consolidated Local $ 391,828 $ - $ 391,828 National 138,678 - 138,678 Political 40,902 - 40,902 Retransmission compensation 552,214 - 552,214 Digital 51,046 75,757 126,803 Other 18,345 29 18,374 Trade revenue 6,860 - 6,860 Total revenue $ 1,199,873 $ 75,786 $ 1,275,659 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 and OVDs 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 broadcast signal is delivered to the distributors and is based on er.

Condensed Consolidating Financi

Condensed Consolidating Financial Information	6 Months Ended
	Jun. 30, 2019
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 due 2024, 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, a wholly-owned subsidiary of Nexstar, and other VIEs consolidated by Nexstar Broadcasting (See Note 2). The outstanding 5.625% Notes due 2024 and the 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. The 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 due 2024 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. 2016-02 Leases (Topic 842) and all related amendments using the optional transition method. As a result, financial information for reporting periods beginning after January 1, 2019 is presented under ASC 842, while comparative financial information has not been adjusted and continues to be reported in accordance with the Company’s historical accounting policy for lease contracts prior to the adoption of ASC 842. The standard had a material impact on the Company’s current year Condensed Consolidated Balance Sheets but did not have an impact on its Condensed Consolidated Statement of Operations. The most significant impact was the recognition of ROU assets and lease liabilities for operating leases, while the accounting for finance leases remained substantially unchanged. CONDENSED CONSOLIDATING BALANCE SHEET As of June 30, 2019 (in thousands) Nexstar Non- Consolidated Nexstar Broadcasting Mission Guarantors Eliminations Company ASSETS Current assets: Cash and cash equivalents $ - $ 51,415 $ 8,970 $ 19,539 $ - $ 79,924 Accounts receivable - 477,869 14,236 50,505 - 542,610 Amounts due from consolidated entities - 85,500 69,274 - (154,774 ) - Spectrum asset - 118,969 - - - 118,969 Other current assets - 30,961 621 2,863 - 34,445 Total current assets - 764,714 93,101 72,907 (154,774 ) 775,948 Investments in subsidiaries 1,254,638 108,884 - - (1,363,522 ) - Amounts due from consolidated entities 747,610 - - - (747,610 ) - Property and equipment, net - 707,551 22,167 19,004 (75 ) 748,647 Goodwill - 1,969,148 33,187 164,075 - 2,166,410 FCC licenses - 1,626,460 43,102 108,706 - 1,778,268 Other intangible assets, net - 1,283,949 12,701 100,208 - 1,396,858 Other noncurrent assets 725 136,108 11,996 16,575 - 165,404 Total assets $ 2,002,973 $ 6,596,814 $ 216,254 $ 481,475 $ (2,265,981 ) $ 7,031,535 LIABILITIES AND STOCKHOLDERS' EQUITY (DEFICIT) Current liabilities: Current portion of debt $ - $ 41,477 $ 2,285 $ 51,178 $ - $ 94,940 Accounts payable - 55,764 1,386 13,242 - 70,392 Amounts due to consolidated entities - - - 154,774 (154,774 ) - Liability to surrender spectrum asset - 129,964 - - - 129,964 Other current liabilities 258 163,542 6,766 28,185 - 198,751 Total current liabilities 258 390,747 10,437 247,379 (154,774 ) 494,047 Debt - 3,447,326 221,560 20,892 - 3,689,778 Amounts due to consolidated entities - 522,075 - 225,745 (747,820 ) - Deferred tax liabilities - 634,624 - 7,901 - 642,525 Other noncurrent liabilities - 217,855 10,842 18,271 - 246,968 Total liabilities 258 5,212,627 242,839 520,188 (902,594 ) 5,073,318 Total stockholders' equity (deficit) 2,002,715 1,384,187 (26,585 ) (53,151 ) (1,363,387 ) 1,943,779 Noncontrolling interests in consolidated variable interest entities - - - 14,438 - 14,438 Total liabilities and stockholders' equity (deficit) $ 2,002,973 $ 6,596,814 $ 216,254 $ 481,475 $ (2,265,981 ) $ 7,031,535 CONDENSED CONSOLIDATING BALANCE SHEET As of December 31, 2018 (in thousands) Nexstar Non- Consolidated Nexstar Broadcasting Mission Guarantors Eliminations Company ASSETS Current assets: Cash and cash equivalents $ - $ 105,665 $ 10,798 $ 28,652 $ - $ 145,115 Accounts receivable - 466,270 12,857 68,158 - 547,285 Amounts due from consolidated entities - 88,987 77,521 - (166,508 ) - Spectrum asset - 52,002 - - - 52,002 Other current assets - 17,420 1,655 3,598 - 22,673 Total current assets - 730,344 102,831 100,408 (166,508 ) 767,075 Investments in subsidiaries 1,119,605 108,884 - - (1,228,489 ) - Amounts due from consolidated entities 782,365 - - - (782,365 ) - Property and equipment, net - 696,910 19,867 14,833 (72 ) 731,538 Goodwill - 1,970,692 33,187 164,075 - 2,167,954 FCC licenses - 1,620,610 43,102 114,556 - 1,778,268 Other intangible assets, net - 1,365,159 13,712 113,052 - 1,491,923 Other noncurrent assets - 116,660 4,421 4,191 - 125,272 Total assets $ 1,901,970 $ 6,609,259 $ 217,120 $ 511,115 $ (2,177,434 ) $ 7,062,030 LIABILITIES AND STOCKHOLDERS' EQUITY (DEFICIT) Current liabilities: Current portion of debt $ - $ 41,477 $ 2,285 $ 52,331 $ - $ 96,093 Accounts payable - 47,574 2,357 17,897 - 67,828 Liability to surrender spectrum asset - 52,002 - - - 52,002 Amounts due to consolidated entities - - - 166,508 (166,508 ) - Other current liabilities 299 155,023 4,441 28,486 - 188,249 Total current liabilities 299 296,076 9,083 265,222 (166,508 ) 404,172 Debt - 3,641,193 222,354 21,363 - 3,884,910 Amounts due to consolidated entities 559,057 - 223,519 (782,576 ) - Deferred tax liabilities 62 624,869 - 8,949 - 633,880 Other noncurrent liabilities - 255,228 6,820 8,036 - 270,084 Total liabilities 361 5,376,423 238,257 527,089 (949,084 ) 5,193,046 Total Nexstar Media Group, Inc. stockholders' equity (deficit) 1,901,609 1,232,836 (21,137 ) (32,184 ) (1,228,350 ) 1,852,774 Noncontrolling interests in consolidated variable interest entities - - - 16,210 - 16,210 Total liabilities and stockholders' equity (deficit) $ 1,901,970 $ 6,609,259 $ 217,120 $ 511,115 $ (2,177,434 ) $ 7,062,030 CONDENSED CONSOLIDATING STATEMENT OF OPERATIONS Three Months Ended June 30, 2019 (in thousands) Nexstar Non- Consolidated Nexstar Broadcasting Mission Guarantors Eliminations Company Net broadcast revenue (including trade) $ - $ 590,978 $ 18,910 $ 39,124 $ - $ 649,012 Revenue between consolidated entities 8,564 22,425 8,262 19,279 (58,530 ) - Net revenue 8,564 613,403 27,172 58,403 (58,530 ) 649,012 Operating expenses (income): Direct operating expenses, excluding depreciation and amortization - 240,974 11,995 45,042 (1,967 ) 296,044 Selling, general, and administrative expenses, excluding depreciation and amortization 9,745 140,732 998 9,874 (17,291 ) 144,058 Local service agreement fees between consolidated entities - 16,848 14,575 7,849 (39,272 ) - Amortization of broadcast rights - 12,936 369 630 - 13,935 Amortization of intangible assets - 28,615 491 7,251 - 36,357 Depreciation - 26,678 620 792 - 28,090 Reimbursement from the FCC related to station repack - (14,546 ) (764 ) (4,106 ) - (19,416 ) Total operating expenses 9,745 452,237 28,284 67,332 (58,530 ) 499,068 (Loss) income from operations (1,181 ) 161,166 (1,112 ) (8,929 ) - 149,944 Interest expense, net - (47,640 ) (2,898 ) (825 ) - (51,363 ) Loss on extinguishment of debt - (2,026 ) - - - (2,026 ) Pension and other postretirement plans credit, net - 1,400 - - - 1,400 Other expenses - (562 ) - (12 ) - (574 ) Equity in income of subsidiaries 74,274 - - - (74,274 ) - Income (loss) before income taxes 73,093 112,338 (4,010 ) (9,766 ) (74,274 ) 97,381 Income tax benefit (expense) 161 (29,826 ) 1,016 2,003 - (26,646 ) Net income (loss) 73,254 82,512 (2,994 ) (7,763 ) (74,274 ) 70,735 Net income attributable to noncontrolling interests - - - (2,733 ) - (2,733 ) Net income (loss) attributable to Nexstar $ 73,254 $ 82,512 $ (2,994 ) $ (10,496 ) $ (74,274 ) $ 68,002 CONDENSED CONSOLIDATING STATEMENT OF OPERATIONS Three Months Ended June 30, 2018 (in thousands) Nexstar Non- Consolidated Nexstar Broadcasting Mission Guarantors Eliminations Company Net broadcast revenue (including trade) $ - $ 594,056 $ 17,606 $ 48,661 $ - $ 660,323 Revenue between consolidated entities 13,205 22,447 9,058 18,439 (63,149 ) - Net revenue 13,205 616,503 26,664 67,100 (63,149 ) 660,323 Operating expenses (income): Direct operating expenses, excluding depreciation and amortization - 218,740 10,013 46,996 (1,310 ) 274,439 Selling, general, and administrative expenses, excluding depreciation and amortization 15,181 133,087 1,112 10,945 (21,422 ) 138,903 Local service agreement fees between consolidated entities - 17,971 13,250 9,196 (40,417 ) - Amortization of broadcast rights - 14,797 409 707 - 15,913 Amortization of intangible assets - 29,674 540 6,967 - 37,181 Depreciation - 22,885 504 1,701 - 25,090 Reimbursement from the FCC related to station repack - (5,510 ) (187 ) - - (5,697 ) Total operating expenses 15,181 431,644 25,641 76,512 (63,149 ) 485,829 (Loss) income from operations (1,976 ) 184,859 1,023 (9,412 ) - 174,494 Interest expense, net - (52,539 ) (2,739 ) (1,003 ) - (56,281 ) Loss on extinguishment of debt - (481 ) - - - (481 ) Pension and other postretirement plans credit, net - 2,950 - - - 2,950 Other expenses - (812 ) - - - (812 ) Equity in income of subsidiaries 94,171 - - - (94,171 ) - Income (loss) before income taxes 92,195 133,977 (1,716 ) (10,415 ) (94,171 ) 119,870 Income tax (expense) benefit (423 ) (34,455 ) 425 1,189 - (33,264 ) Net income (loss) 91,772 99,522 (1,291 ) (9,226 ) (94,171 ) 86,606 Net loss attributable to noncontrolling interests - - - 1,126 - 1,126 Net income (loss) attributable to Nexstar $ 91,772 $ 99,522 $ (1,291 ) $ (8,100 ) $ (94,171 ) $ 87,732 CONDENSED CONSOLIDATING STATEMENT OF OPERATIONS Six Months Ended June 30, 2019 (in thousands) Nexstar Non- Consolidated Nexstar Broadcasting Mission Guarantors Eliminations Company Net broadcast revenue (including trade) $ - $ 1,158,758 $ 38,317 $ 78,584 $ - $ 1,275,659 Revenue between consolidated entities 16,982 44,658 16,024 36,996 (114,660 ) - Net revenue 16,982 1,203,416 54,341 115,580 (114,660 ) 1,275,659 Operating expenses (income): Direct operating expenses, excluding depreciation and amortization - 481,169 24,031 87,541 (3,834 ) 588,907 Selling, general, and administrative expenses, excluding depreciation and amortization 19,493 278,001 1,989 19,901 (32,966 ) 286,418 Local service agreement fees between consolidated entities - 33,202 29,150 15,508 (77,860 ) - Amortization of broadcast rights - 26,287 752 1,258 - 28,297 Amortization of intangible assets - 57,278 1,010 14,807 - 73,095 Depreciation - 51,905 1,228 2,394 - 55,527 Reimbursement from the FCC related to station repack - (24,231 ) (2,300 ) (7,072 ) - (33,603 ) Total operating expenses 19,493 903,611 55,860 134,337 (114,660 ) 998,641 (Loss) income from operations (2,511 ) 299,805 (1,519 ) (18,757 ) - 277,018 Interest expense, net - (96,848 ) (5,784 ) (1,688 ) - (104,320 ) Loss on extinguishment of debt - (3,724 ) - - - (3,724 ) Pension and other postretirement plans credit, net - 2,800 - - - 2,800 Other expenses - (1,037 ) - (28 ) - (1,065 ) Equity in income of subsidiaries 135,032 - - - (135,032 ) - Income (loss) before income taxes 132,521 200,996 (7,303 ) (20,473 ) (135,032 ) 170,709 Income tax benefit (expense) 473 (49,648 ) 1,851 4,237 - (43,087 ) Net income (loss) 132,994 151,348 (5,452 ) (16,236 ) (135,032 ) 127,622 Net income attributable to noncontrolling interests - - - (4,728 ) - (4,728 ) Net income (loss) attributable to Nexstar $ 132,994 $ 151,348 $ (5,452 ) $ (20,964 ) $ (135,032 ) $ 122,894 CONDENSED CONSOLIDATING STATEMENT OF OPERATIONS Six Months Ended June 30, 2018 (in thousands) Nexstar Non- Consolidated Nexstar Broadcasting Mission Guarantors Eliminations Company Net broadcast revenue (including trade) $ - $ 1,143,737 $ 33,763 $ 98,159 $ - $ 1,275,659 Revenue between consolidated entities 13,205 42,703 17,486 35,144 (108,538 ) - Net revenue 13,205 1,186,440 51,249 133,303 (108,538 ) 1,275,659 Operating expenses (income): Direct operating expenses, excluding depreciation and amortization - 439,919 20,160 95,987 (2,664 ) 553,402 Selling, general, and administrative expenses, excluding depreciation and amortization 15,181 269,272 2,328 22,251 (28,224 ) 280,808 Local service agreement fees between consolidated entities - 34,947 26,500 16,203 (77,650 ) - Amortization of broadcast rights - 29,792 821 1,400 - 32,013 Amortization of intangible assets - 59,519 1,084 12,880 - 73,483 Depreciation - 46,346 1,021 3,537 - 50,904 Reimbursement from the FCC related to station repack - (6,874 ) (187 ) - - (7,061 ) Total operating expenses 15,181 872,921 51,727 152,258 (108,538 ) 983,549 (Loss) income from operations (1,976 ) 313,519 (478 ) (18,955 ) - 292,110 Interest expense, net - (103,573 ) (5,350 ) (1,947 ) - (110,870 ) Loss on extinguishment of debt - (1,486 ) - - - (1,486 ) Pension and other postretirement plans credit, net - 5,900 - - - 5,900 Other expenses - (941 ) - 2 - (939 ) Equity in income of subsidiaries 146,203 - - - (146,203 ) - Income (loss) before income taxes 144,227 213,419 (5,828 ) (20,900 ) (146,203 ) 184,715 Income tax (expense) benefit (423 ) (54,905 ) 1,406 3,154 - (50,768 ) Net income (loss) 143,804 158,514 (4,422 ) (17,746 ) (146,203 ) 133,947 Net loss attributable to noncontrolling interests - - - 1,907 - 1,907 Net income (loss) attributable to Nexstar $ 143,804 $ 158,514 $ (4,422 ) $ (15,839 ) $ (146,203 ) $ 135,854 CONDENSED CONSOLIDATING STATEMENT OF CASH FLOWS Six Months Ended June 30, 2019 (in thousands) Nexstar Non- Consolidated Nexstar Broadcasting Mission Guarantors Eliminations Company Cash flows from operating activities $ - $ 240,814 $ 1,507 $ (5,921 ) $ - $ 236,400 Cash flows from investing activities: Purchases of property and equipment - (60,002 ) (2,956 ) (8,510 ) - (71,468 ) Spectrum repack reimbursements from the FCC - 25,767 764 7,072 - 33,603 Other investing activities - 995 - 14 - 1,009 Net cash used in investing activities - (33,240 ) (2,192 ) (1,424 ) - (36,856 ) Cash flows from financing activities: Repayments of long-term debt - (200,738 ) (1,143 ) (1,727 ) - (203,608 ) Common stock dividends paid (41,319 ) - - - - (41,319 ) Inter-company payments 49,649 (49,649 ) - - - - Purchase of noncontrolling interest from a consolidated variable interest entity - (6,393 ) - - - (6,393 ) Cash paid for shares withheld for taxes (9,813 ) - - - - (9,813 ) Other financing activities 1,483 (5,044 ) - (41 ) - (3,602 ) Net cash used in financing activities - (261,824 ) (1,143 ) (1,768 ) - (264,735 ) Net increase in cash, cash equivalents and restricted cash - (54,250 ) (1,828 ) (9,113 ) - (65,191 ) Cash, cash equivalents and restricted cash at beginning of period - 105,665 10,798 28,652 - 145,115 Cash, cash equivalents and restricted cash at end of period $ - $ 51,415 $ 8,970 $ 19,539 $ - $ 79,924 CONDENSED CONSOLIDATING STATEMENT OF CASH FLOWS Six Months Ended June 30, 2018 (in thousands) Nexstar Non- Consolidated Nexstar Broadcasting Mission Guarantors Eliminations Company Cash flows from operating activities $ - $ 313,735 $ (1,484 ) $ 4,823 $ - $ 317,074 Cash flows from investing activities: Purchases of property and equipment - (32,198 ) (512 ) (3,680 ) - (36,390 ) Payments for acquisitions - (85,867 ) - - - (85,867 ) Spectrum repack reimbursements from the FCC - 6,875 186 - - 7,061 Other investing activities - 4,256 - 5 - 4,261 Net cash used in investing activities - (106,934 ) (326 ) (3,675 ) - (110,935 ) Cash flows from financing activities: Proceeds from long-term debt - 44,000 - 51,759 - 95,759 Repayments of long-term debt - (122,120 ) (1,157 ) (53,639 ) - (176,916 ) Common stock dividends paid (34,443 ) - - - - (34,443 ) Purchase of treasury stock (50,524 ) - - - - (50,524 ) Inter-company payments 87,624 (87,624 ) - - - - Other financing activities (2,657 ) (5,555 ) - 226 - (7,986 ) Net cash used in financing activities - (171,299 ) (1,157 ) (1,654 ) - (174,110 ) Net increase (decrease) in cash, cash equivalents and restricted cash - 35,502 (2,967 ) (506 ) - 32,029 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 $ - $ 126,362 $ 6,557 $ 14,762 $ - $ 147,681

Subsequent Events

Subsequent Events	6 Months Ended
	Jun. 30, 2019
Subsequent Events [Abstract]
Subsequent Events	16. Subsequent Events On July 3, 2019, Nexstar Escrow completed the sale and issuance of the $1.120 billion 5.625% Notes due 2027 at par. The gross proceeds of the 5.625% Notes due 2027 were deposited into a segregated escrow account which cannot be utilized until certain conditions are satisfied or the escrowed funds are released in connection with a special mandatory redemption of the 5.625% Notes due 2027. Among other things, such conditions include the consummation of the merger (See Note 3) and the assumption by Nexstar of all of the obligations of Nexstar Escrow under the 5.625% Notes due 2027, which are all expected to occur in the third quarter of 2019. Following satisfaction of such conditions, the proceeds from the 5.625% Notes due 2027 will be used to finance a portion of the consideration of the merger, to partially fund the repayment of all of Tribune’s existing indebtedness, to pay related fees and expenses and for general corporate purposes. If the merger is not consummated on or prior to November 30, 2019, with an automatic extension to February 29, 2020 if necessary to obtain regulatory approval under circumstances specified in the merger agreement, or if the merger agreement is terminated, the 5.625% Notes due 2027 are subject to a special mandatory redemption equal to 100% of the initial issue price of the notes, plus accrued and unpaid interest, if any, from the issue date of the 5.625% Notes due 2027 up to, but not including, the date of such special mandatory redemption. Prior to the consummation of the merger, the 5.625% Notes due 2027 will not be guaranteed, but will be secured by a first priority security interest in the escrow account and all deposits and investment property therein. Following satisfaction of the escrow conditions, the 5.625% Notes due 2027 will be senior unsecured obligations of Nexstar and will be guaranteed by Nexstar, Mission and certain of Nexstar’s and Mission’s future wholly-owned subsidiaries, subject to certain customary release provisions. The 5.625% Notes due 2027 will be junior to the secured debt of the Company, including the senior secured credit facilities of Nexstar and certain VIEs, to the extent of the value of the assets securing such debt. The 5.625% Notes due 2027 will rank equal to the 6.125% Notes, the 5.875% Notes and the 5.625% Notes due 2024. On July 25, 2019, Nexstar’s Board of Directors declared a quarterly cash dividend of $0.45 per share of its Class A common stock. The dividend is payable on August 23, 2019 to stockholders of record on August 9, 2019. On July 31, 2019, the DOJ provided its conditional approval of the proposed Nexstar and Tribune merger (See Note 3) by simultaneously filing a pair of documents with the U.S. District Court of the District of Columbia: (i) a civil antitrust suit against the merger deal, and (ii) a proposed settlement that, if approved by the court, would resolve the complaints alleged in the antitrust suit through the divestiture of certain television stations and related conditions. The FCC must still complete its public interest review of the proposed merger.

Summary of Significant Accoun_2

Summary of Significant Accounting Policies (Policies)	6 Months Ended
	Jun. 30, 2019
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 "Variable Interest Entities” section). 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, excluding intercompany amounts, that are not available to settle the obligations of Nexstar and the liabilities of consolidated VIEs, excluding intercompany amounts, for which their creditors do not have recourse to the general credit of Nexstar (in thousands): June 30, 2019 December 31, 2018 Current assets $ 24,375 $ 20,898 Property and equipment, net 16,366 10,994 Goodwill 121,600 121,600 FCC licenses 151,808 157,658 Other intangible assets, net 71,936 75,513 Other noncurrent assets, net 9,121 3,652 Total assets $ 395,206 $ 390,315 Current liabilities $ 19,206 $ 17,594 Noncurrent liabilities 36,741 27,542 Total liabilities $ 55,947 $ 45,136
Liquidity	Liquidity The Company is leveraged, which makes it vulnerable to changes in general economic conditions. The Company’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 the Company’s control. On November 30, 2018, Nexstar entered into a definitive merger agreement with Tribune Media Company (“Tribune”) to acquire the latter’s outstanding equity and to settle the outstanding equity-based awards for $46.50 per share in a cash transaction. The estimated total purchase price is $7.165 billion, inclusive of the merger cash consideration, the refinancing of Tribune's outstanding debt and the assumption of outstanding warrants. The estimated purchase price amount does not take into account Tribune’s cash or pension liabilities to be acquired by Nexstar. The merger has been approved by the boards of directors of both companies and the stockholders of Tribune and is projected to close in the third quarter of 2019, subject to (i) Federal Communications Commission (the “FCC”) approval, (ii) other regulatory approvals (including expiration or termination of the waiting period applicable to the merger under the applicable Hart-Scott-Rodino Antitrust Improvements Act of 1976 (the “HSR Act”) (the “HSR Approval”) and (iii) satisfaction of other customary closing conditions On March 20, 2019, Nexstar entered into definitive asset purchase agreements to sell a total of nineteen stations in fifteen markets. Under the terms of the agreements, TEGNA Inc. (“TEGNA”) will acquire eleven stations in eight markets and The E.W. Scripps Company (“Scripps”) will acquire eight stations in seven markets. On April 8, 2019, Nexstar entered into a definitive asset purchase agreement to sell to Circle City Broadcasting I, Inc., a newly-formed minority-led broadcast company majority-owned by DuJuan McCoy, two stations in the Indianapolis, IN market. The total selling price of these proposed divestitures is $1.362 billion, subject to customary purchase price adjustments. The consummation of each divestiture transaction is subject to the satisfaction or waiver of certain customary conditions, including, among others, (i) the closing of the transactions contemplated by the merger agreement, (ii) FCC approval and HSR Approval and (iii) the absence of certain legal impediments to the consummation of such transaction. Nexstar intends to use the net proceeds from the divestitures to partially fund the merger, to refinance the existing indebtedness of Tribune, to pay related fees and expenses and for general corporate purposes. On July 31, 2019, the Department of Justice (“DOJ”) provided its conditional approval of the proposed Nexstar and Tribune merger, but the FCC must still complete its public interest review of the transaction. See Note 3 for additional information on the proposed merger and divestitures and Note 16 for additional information on the DOJ conditional approval. On November 30, 2018, Nexstar received committed financing up to a maximum of $6.4 billion from a group of commercial banks to provide the debt financing to consummate the merger and the refinancing of certain of the existing indebtedness of Tribune and related transactions. On July 3, 2019, Nexstar Escrow, Inc., a wholly-owned indirect subsidiary of Nexstar (“Nexstar Escrow”), completed the sale and issuance of its $1.120 billion 5.625% Senior Unsecured Notes due 2027 (the “5.625% Notes due 2027”) at par. The gross proceeds of the 5.625% Notes due 2027 were deposited in a segregated escrow account and cannot be utilized until certain conditions are satisfied, including the completion of Nexstar’s merger with Tribune. See Note 16 for additional information. The remainder of the committed financing includes $3.740 billion in term loans for which Nexstar recently completed the pricing. These term loans are projected to be issued simultaneously with the completion of Nexstar’s merger with Tribune.
Interim Financial Statements	Interim Financial Statements The Condensed Consolidated Financial Statements as of June 30, 2019 and for the three and six months ended June 30, 2019 and 2018 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 United States 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 Condensed Consolidated Financial Statements and related Notes included in Nexstar’s Annual Report on Form 10-K for the year ended December 31, 2018. The balance sheet as of December 31, 2018 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 FCC consent. The following table summarizes the various local service agreements Nexstar had in effect as of June 30, 2019 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 Marshall KLJB, KPEJ and KMSS SSA Only 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. Nexstar had a variable interest in HITV License Subsidiary, Inc., the owner of station KHII, upon execution of a TBA effective November 1, 2018 and a purchase agreement to acquire certain assets of the station. On December 17, 2018, the FCC approved Nexstar’s acquisition of the station. Nexstar evaluated its business arrangement with KHII and determined that it was the primary beneficiary of the variable interest because it had the ultimate power to direct the activities that most significantly impact the economic performance of the station including developing the annual operating budget, selling advertising, and oversight and control of sales management personnel. Thus, Nexstar consolidated KHII as of December 17, 2018 under authoritative guidance related to the consolidation of VIEs. The assets that were consolidated into Nexstar included the license assets and network affiliation agreement of KHII but were attributed to the owner of the station at the time (noncontrolling interest). On January 28, 2019, Nexstar paid the former owner the remaining purchase price, acquired the noncontrolling interest in full and completed the acquisition. As of this date, KHII is no longer a VIE. See Note 3 for additional information. The carrying amounts and classification of the assets and liabilities, excluding intercompany amounts, of the VIEs which have been included in the Condensed Consolidated Balance Sheets were as follows (in thousands): June 30, 2019 December 31, 2018 Current assets: Cash and cash equivalents $ 22,083 $ 19,060 Accounts receivable, net 23,676 22,725 Prepaid expenses and other current assets 2,443 4,423 Total current assets 48,202 46,208 Property and equipment, net 38,533 30,861 Goodwill 154,787 154,787 FCC licenses 151,808 157,658 Other intangible assets, net 84,637 89,225 Other noncurrent assets, net 21,117 8,073 Total assets $ 499,084 $ 486,812 Current liabilities: Current portion of debt $ 53,463 $ 54,616 Interest payable 1,061 345 Other current liabilities 19,206 17,594 Total current liabilities 73,730 72,555 Debt 242,452 243,717 Other noncurrent liabilities 36,741 27,542 Total liabilities $ 352,923 $ 343,814 Non-Consolidated VIEs Nexstar has an outsourcing agreement with Cunningham Broadcasting Corporation (“Cunningham”), which continues through December 31, 2020. 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 to Cunningham based on the combined operating cash flow of WMBD and WYZZ, as defined in the agreement. Nexstar has determined that it has a variable interest in WYZZ. Nexstar has evaluated its arrangements with Cunningham and has determined that it is not the primary beneficiary of the variable interest in this station because it does not have the ultimate power to direct the activities that most significantly impact the station’s economic performance, including developing the annual operating budget, programming and oversight and control of sales management personnel. Therefore, Nexstar has not consolidated WYZZ under authoritative guidance related to the consolidation of VIEs. Under the local service agreement for WYZZ, Nexstar pays for certain operating expenses, and therefore may have unlimited exposure to any potential operating losses. Nexstar’s management believes that Nexstar’s minimum exposure to loss under the WYZZ agreement consists of the fees paid to Cunningham. Additionally, Nexstar indemnifies the owners of Cunningham from and against all liability and claims arising out of or resulting from its activities, acts or omissions in connection with the agreement. The maximum potential amount of future payments Nexstar could be required to make for such indemnification is undeterminable at this time. There were no significant transactions arising from Nexstar’s outsourcing agreement with Cunningham.
Leases	Leases As discussed in the “Recent Accounting Pronouncements” section below, the Company adopted Accounting Standards Update (“ASU”) No. 2016-02, Leases (Topic 842) and all related amendments issued by the Financial Accounting Standards Board (“FASB”). Accounting Standards Codification (“ASC”) 842 establishes a comprehensive new lease accounting model that requires the recording of assets and liabilities arising from operating leases on the balance sheet accompanied by enhanced qualitative and quantitative disclosures in the notes to the financial statements. The standard was issued to help investors and other financial statement users better understand the amount, timing, and uncertainty of cash flows arising from leases. The Company adopted this standard effective January 1, 2019 using the optional transition method. The most significant impact was the recognition of right-of-use (“ROU”) assets and lease liabilities for operating leases, while the Company’s accounting for finance leases remained substantially unchanged. Financial information for reporting periods beginning after January 1, 2019 is presented under ASC 842, while comparative financial information has not been adjusted and continues to be reported in accordance with the Company’s historical accounting policy for lease contracts prior to the adoption of ASC 842. The Company has elected the ‘package of practical expedients’ permitted under the transition guidance within ASC 842, which permits the Company to carry forward the historical lease classification and not reassess whether any expired or existing contracts are or contain leases. In addition, the Company is not required to reassess initial direct costs for any existing leases. The Company did not elect the land easements and the use of hindsight practical expedients in determining the lease term for existing leases. ASC 842 also provides practical expedients for an entity’s ongoing accounting. The Company has elected the short-term lease recognition exemption for all leases that qualify. As a result, for those leases with a term of less than 12 months, it will not recognize ROU assets or lease liabilities. The vast majority of the Company’s television station leases are comprised of fixed lease payments, with a small percentage of television station lease payments that are tied to a rate or index which may be subject to variability. For these leases, the calculation of the present value of future minimum lease payments is the base rate as of the later of (i) when the television station was acquired by the Company, or (ii) the commencement date of the lease agreement. Certain real estate leases also include executory costs such as common area maintenance (non-lease component), as well as property insurance and property taxes (non-components). These are not significant and the Company historically excluded these executory costs from its future minimum lease payments under its historical policy prior to the adoption of ASC 842. As such, the executory costs were excluded from the calculation of ROU assets and lease liabilities associated with operating leases upon transition. The Company’s lease terms may include options to extend or terminate the lease when it is reasonably certain that it will exercise that option. The discount rate represents a risk-adjusted rate on a secured basis, and is the rate at which the Company would borrow funds to satisfy the scheduled lease liability payment streams commensurate with the lease term. On January 1, 2019, the discount rate used on existing leases at adoption was determined based on the remaining lease term using available data as of that date. The Company recognized operating lease ROU assets on its Condensed Consolidated Balance Sheet as of January 1, 2019 of $112.8 million, inclusive of the present value of remaining future operating lease payments of $98.9 million and reclassifications of certain operating lease related assets and liabilities under the Company’s historical accounting policy prior to the adoption of ASC 842 such as favorable (unfavorable) lease intangible assets, deferred rent, short-term and long-term prepaid expenses and other accruals. These are summarized in the table below (in thousands). The adoption did not result in a cumulative impact on retained earnings as of January 1, 2019. ASC 842 Adoption Adjustments Present Value of Remaining Operating Lease Reclassifications of Operating Lease Related Balance Sheet Items to Operating Lease ROU Assets Impact on Consolidated Balance Sheets December 31, 2018 Payments as of January 1, 2019 Net Favorable Leases Deferred Rent Other Total Adjustments January 1, 2019 Prepaid expenses and other current assets $ 22,673 $ - $ - $ - $ (270 ) $ (270 ) $ 22,403 Other intangible assets, net 1,491,923 - (24,181 ) - - (24,181 ) 1,467,742 Other noncurrent assets, net 125,272 98,887 24,181 (9,781 ) (720 ) 112,567 237,839 Total assets 7,062,030 98,887 - (9,781 ) (990 ) 88,116 7,150,146 Other current liabilities 12,352 17,399 - (1,645 ) (423 ) 15,331 27,683 Other noncurrent liabilities 270,084 81,488 - (8,136 ) (567 ) 72,785 342,869 Total liabilities 5,193,046 98,887 - (9,781 ) (990 ) 88,116 5,281,162 After transition to ASC 842, the Company determines if an arrangement is a lease at inception. The ROU assets arising from operating leases are included in other noncurrent assets, other current liabilities and other noncurrent liabilities in the accompanying Condensed Consolidated Balance Sheets. Operating lease ROU assets and operating lease liabilities that are recognized after the adoption of ASC 842 are based on the present value of the future minimum lease payments over the lease term at the commencement date. The operating lease ROU asset also includes any lease payments made and excludes lease incentives and executory costs (not significant). The Company’s lease terms may include options to extend or terminate the lease when it is reasonably certain that it will exercise that option. When determining if a renewal option is reasonably certain of being exercised, the Company considers several factors, including but not limited to, the significance of leasehold improvements incurred on the property, whether the asset is difficult to replace, or specific characteristics unique to the particular lease that would make it reasonably certain that the Company would exercise such option. In most cases, the Company has concluded that renewal and early termination options are not reasonably certain of being exercised by the Company (and thus not included in its ROU asset and lease liability) unless there is an economic, financial or business reason to do so. As most of the Company’s leases do not provide an implicit rate, the incremental borrowing rate was used based on the information available at the commencement date in determining the present value of future lease payments. The discount rate represents a risk-adjusted rate on a secured basis and is the rate at which the Company would borrow funds to satisfy the scheduled lease liability payment streams commensurate with the lease term. For new or renewed leases starting in 2019, the discount rate is determined using available data at lease commencement and based on the lease term including any reasonably certain renewal periods. Lease expense for minimum lease payments is recognized on a straight-line basis over the lease term. In rare circumstances, the Company may enter into finance leases for specific equipment or real estate used in its operations, in which the lease term is for the major part of the remaining economic life of the underlying asset or the present value of the lease payments equals or exceeds substantially all of the estimated fair value of the underlying asset. The Company records its finance leases within property, plant and equipment, other current liabilities and other noncurrent liabilities on the accompanying Condensed Consolidated Balance Sheets. See Note 8 for additional disclosures on leases as of June 30, 2019.
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 7 for fair value disclosures related to the Company’s debt.
Income Per Share	Income Per Share Basic income per share is computed by dividing the net income 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 shares were issued upon exercise of stock options and vesting of restricted stock units. The following table shows the amounts used in computing the Company’s diluted shares (in thousands): Three Months Ended Six Months Ended June 30, June 30, 2019 2018 2019 2018 Weighted average shares outstanding - basic 46,090 45,631 45,938 45,852 Dilutive effect of equity incentive plan instruments 1,881 1,516 1,940 1,562 Weighted average shares outstanding - diluted 47,971 47,147 47,878 47,414 There were no anti-dilutive shares during each of the three months ended June 30, 2019 and 2018. Stock options and restricted stock units to acquire a weighted average of 15,000 shares and 38,000 shares for the six months ended June 30, 2019 and 2018, 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 February 2016, the FASB issued ASU No. 2016-02, Leases (Topic 842). The Company adopted this standard and all related amendments effective January 1, 2019 using the optional transition method. The standard had a material impact on the Company’s Condensed Consolidated Balance Sheets but did not impact its operating results, cash flows or equity. The most significant impact was the recognition of ROU assets and lease liabilities for operating leases, while our accounting for finance leases remained substantially unchanged. The adoption did not result in a cumulative impact on retained earnings as of January 1, 2019. See Leases above for the Company’s updated accounting policy and Note 8 for expanded disclosures. New Accounting Standards Not Yet Adopted In June 2016, the FASB issued ASU No. 2016-13, Financial Instruments - Credit Losses (Topic 326) (“ASU 2016-13”). 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 model 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. In November 2018, the FASB issued ASU No. 2018-19 to clarify the scope of the guidance in the amendments in ASU 2016-13. 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 Condensed Consolidated Financial Statements. In August 2018, the FASB issued ASU No. 2018-13, Fair Value Measurement (Topic 820) (“ASU 2018-13”), which modifies the disclosure requirements on fair value measurements. The amendments in this update are effective for all entities for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2019. In August 2018, the FASB issued ASU 2018-14, Compensation-Retirement Benefits-Defined Benefit Plans-General (Subtopic 715-20) (“ASU 2018-14”). ASU 2018-14 removes certain disclosures that are not considered cost beneficial, clarifies certain required disclosures and adds additional disclosures. The amendments in ASU 2018-14 are effective for fiscal years ending after December 15, 2020, and early adoption is permitted. The updated standard should be applied on a retrospective basis. The Company is currently evaluating the impact of adopting ASU 2018-14 on its Condensed Consolidated Financial Statements. In October 2018, the FASB issued ASU 2018-17, Consolidation (Topic 810): Targeted Improvements to Related Party Guidance for Variable Interest Entities (“ASU 2018-17”). The amendments in ASU 2018-17 for determining whether a decision-making fee is a variable interest require reporting entities to consider indirect interests held through related parties under common control on a proportional basis rather than as the equivalent of a direct interest in its entirety (as currently required in GAAP). Therefore, these amendments likely will result in more decision makers not having a variable interest through their decision-making arrangements. The amendments in ASU 2018-17 are effective for interim and annual reporting periods beginning after December 15, 2019, and early adoption is permitted. The Company is currently evaluating the impact of adopting ASU 2018-17 on its Consolidated Financial Statements.

Summary of Significant Accoun_3

Summary of Significant Accounting Policies (Tables)	6 Months Ended
	Jun. 30, 2019
Consolidated VIEs	The carrying amounts and classification of the assets and liabilities, excluding intercompany amounts, of the VIEs which have been included in the Condensed Consolidated Balance Sheets were as follows (in thousands): June 30, 2019 December 31, 2018 Current assets: Cash and cash equivalents $ 22,083 $ 19,060 Accounts receivable, net 23,676 22,725 Prepaid expenses and other current assets 2,443 4,423 Total current assets 48,202 46,208 Property and equipment, net 38,533 30,861 Goodwill 154,787 154,787 FCC licenses 151,808 157,658 Other intangible assets, net 84,637 89,225 Other noncurrent assets, net 21,117 8,073 Total assets $ 499,084 $ 486,812 Current liabilities: Current portion of debt $ 53,463 $ 54,616 Interest payable 1,061 345 Other current liabilities 19,206 17,594 Total current liabilities 73,730 72,555 Debt 242,452 243,717 Other noncurrent liabilities 36,741 27,542 Total liabilities $ 352,923 $ 343,814
Schedule of ASC 842 Adoption Adjustments Impact on Condensed Balance Sheets	The Company recognized operating lease ROU assets on its Condensed Consolidated Balance Sheet as of January 1, 2019 of $112.8 million, inclusive of the present value of remaining future operating lease payments of $98.9 million and reclassifications of certain operating lease related assets and liabilities under the Company’s historical accounting policy prior to the adoption of ASC 842 such as favorable (unfavorable) lease intangible assets, deferred rent, short-term and long-term prepaid expenses and other accruals. These are summarized in the table below (in thousands). The adoption did not result in a cumulative impact on retained earnings as of January 1, 2019. ASC 842 Adoption Adjustments Present Value of Remaining Operating Lease Reclassifications of Operating Lease Related Balance Sheet Items to Operating Lease ROU Assets Impact on Consolidated Balance Sheets December 31, 2018 Payments as of January 1, 2019 Net Favorable Leases Deferred Rent Other Total Adjustments January 1, 2019 Prepaid expenses and other current assets $ 22,673 $ - $ - $ - $ (270 ) $ (270 ) $ 22,403 Other intangible assets, net 1,491,923 - (24,181 ) - - (24,181 ) 1,467,742 Other noncurrent assets, net 125,272 98,887 24,181 (9,781 ) (720 ) 112,567 237,839 Total assets 7,062,030 98,887 - (9,781 ) (990 ) 88,116 7,150,146 Other current liabilities 12,352 17,399 - (1,645 ) (423 ) 15,331 27,683 Other noncurrent liabilities 270,084 81,488 - (8,136 ) (567 ) 72,785 342,869 Total liabilities 5,193,046 98,887 - (9,781 ) (990 ) 88,116 5,281,162
Weighted Average Shares Outstanding	Basic income per share is computed by dividing the net income 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 shares were issued upon exercise of stock options and vesting of restricted stock units. The following table shows the amounts used in computing the Company’s diluted shares (in thousands): Three Months Ended Six Months Ended June 30, June 30, 2019 2018 2019 2018 Weighted average shares outstanding - basic 46,090 45,631 45,938 45,852 Dilutive effect of equity incentive plan instruments 1,881 1,516 1,940 1,562 Weighted average shares outstanding - diluted 47,971 47,147 47,878 47,414
Consolidated VIEs [Member]
Consolidated VIEs	The following are assets of consolidated VIEs, excluding intercompany amounts, that are not available to settle the obligations of Nexstar and the liabilities of consolidated VIEs, excluding intercompany amounts, for which their creditors do not have recourse to the general credit of Nexstar (in thousands): June 30, 2019 December 31, 2018 Current assets $ 24,375 $ 20,898 Property and equipment, net 16,366 10,994 Goodwill 121,600 121,600 FCC licenses 151,808 157,658 Other intangible assets, net 71,936 75,513 Other noncurrent assets, net 9,121 3,652 Total assets $ 395,206 $ 390,315 Current liabilities $ 19,206 $ 17,594 Noncurrent liabilities 36,741 27,542 Total liabilities $ 55,947 $ 45,136

Intangible Assets and Goodwill

Intangible Assets and Goodwill (Tables)	6 Months Ended
	Jun. 30, 2019
Goodwill And Intangible Assets Disclosure [Abstract]
Intangible Assets Subject to Amortization	Intangible assets subject to amortization consisted of the following (in thousands): Estimated June 30, 2019 December 31, 2018 useful life, Accumulated Accumulated in years Gross Amortization Net Gross Amortization Net Network affiliation agreements 15 $ 1,977,825 $ (632,497 ) $ 1,345,328 $ 1,977,825 $ (575,860 ) $ 1,401,965 Other definite-lived intangible assets 1-20 222,767 (171,237 ) 51,530 246,137 (156,179 ) 89,958 Other intangible assets $ 2,200,592 $ (803,734 ) $ 1,396,858 $ 2,223,962 $ (732,039 ) $ 1,491,923
Estimated Amortization Expense of Definite-Lived Intangible Assets	The following table presents the Company’s estimate of amortization expense for the remainder of 2019, each of the five succeeding years ended December 31 and thereafter for definite-lived intangible assets as of June 30, 2019 (in thousands): Remainder of 2019 $ 71,470 2020 131,376 2021 116,075 2022 113,645 2023 112,353 2024 111,837 Thereafter 740,102 $ 1,396,858
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, 2018 $ 2,257,774 $ (89,820 ) $ 2,167,954 $ 1,825,678 $ (47,410 ) $ 1,778,268 Measurement period adjustments (1,544 ) - (1,544 ) - - - Balances as of June 30, 2019 $ 2,256,230 $ (89,820 ) $ 2,166,410 $ 1,825,678 $ (47,410 ) $ 1,778,268

Accrued Expenses (Tables)

Accrued Expenses (Tables)	6 Months Ended
	Jun. 30, 2019
Payables And Accruals [Abstract]
Accrued Expenses	Accrued expenses consisted of the following (in thousands): June 30, 2019 December 31, 2018 Compensation and related taxes $ 46,369 $ 44,269 Network affiliation fees 19,977 21,916 Capital expenditures 21,657 18,273 Other 52,990 59,392 $ 140,993 $ 143,850

Retirement and Postretirement_2

Retirement and Postretirement Plans (Tables)	6 Months Ended
	Jun. 30, 2019
Compensation And Retirement Disclosure [Abstract]
Summary of Components of Net Periodic Benefit Cost (Credit)	The following table provides the components of net periodic benefit cost (credit) for the Company’s pension and other postretirement benefit plans (“OPEB”) (in thousands): Three Months Ended Six Months Ended June 30, 2019 June 30, 2019 Pension Benefits OPEB Pension Benefits OPEB Interest cost $ 3,875 $ 200 $ 7,750 $ 400 Expected return on plan assets (5,475 ) - (10,950 ) - Net periodic benefit (income) cost $ (1,600 ) $ 200 $ (3,200 ) $ 400 Three Months Ended Six Months Ended June 30, 2018 June 30, 2018 Pension Benefits OPEB Pension Benefits OPEB Interest cost $ 3,350 $ 150 $ 6,700 $ 300 Expected return on plan assets (6,450 ) - (12,900 ) - Net periodic benefit (income) cost $ (3,100 ) $ 150 $ (6,200 ) $ 300

Debt (Tables)

Debt (Tables)	6 Months Ended
	Jun. 30, 2019
Debt Disclosure [Abstract]
Long Term Debt	Long-term debt consisted of the following (in thousands): June 30, December 31, 2019 2018 Term loans, net of financing costs and discount of $30,598 and $37,679, respectively $ 2,210,962 $ 2,407,490 Revolving loans 5,628 5,628 6.125% Senior unsecured notes due 2022, net of financing costs of $1,327 and $1,556, respectively 273,673 273,444 5.875% Senior unsecured notes due 2022, plus premium of $5,342 and $6,233, respectively 405,342 406,233 5.625% Senior unsecured notes due 2024, net of financing costs of $10,887 and $11,792, respectively 889,113 888,208 3,784,718 3,981,003 Less: current portion (94,940 ) (96,093 ) $ 3,689,778 $ 3,884,910
Fair Value of Debt	The aggregate carrying amounts and estimated fair values of the Company’s debt were as follows (in thousands): June 30, 2019 December 31, 2018 Carrying Fair Carrying Fair Amount Value Amount Value Term loans (1) $ 2,210,962 $ 2,215,451 $ 2,407,490 $ 2,389,439 Revolving loans (1) 5,628 5,593 5,628 5,528 6.125% Senior unsecured notes (2) 273,673 278,438 273,444 275,688 5.875% Senior unsecured notes (2) 405,342 409,000 406,233 397,000 5.625% Senior unsecured notes (2) 889,113 929,250 888,208 837,000 (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.

Leases (Tables)

Leases (Tables)	6 Months Ended
	Jun. 30, 2019
Leases [Abstract]
Summary of Components of Lease Expense	(In thousands) Balance Sheet Classification June 30, 2019 Operating leases Operating lease right-of-use assets, net Other noncurrent assets, net $ 104,729 Current lease liabilities Other current liabilities $ 16,691 Noncurrent lease liabilities Other noncurrent liabilities $ 73,634 Finance leases Finance lease right-of-use assets, net of accumulated depreciation of $4,332 Property, plant and equipment, net $ 8,733 Current lease liabilities Other current liabilities $ 852 Noncurrent lease liabilities Other noncurrent liabilities $ 15,647
Summary of Other Information Related to Leases	Other information related to leases as of June 30, 2019 was as follows (in thousands, except lease term and discount rate): Supplemental Cash Flows Information Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows from operating leases $ 11,232 Operating cash flows from finance leases 478 Financing cash flows from finance leases 404 Weighted Average Remaining Lease Term Operating leases 7.1 years Finance leases 12.0 years Weighted Average Discount Rate Operating leases 5.2 % Finance leases 5.7 %
Summary of Future Minimum Lease Payments Under Non-Cancellable Leases	Future minimum lease payments under non-cancellable leases as of June 30, 2019 were as follows (in thousands): Operating Leases Finance Leases Remainder of 2019 $ 10,771 $ 884 2020 19,657 1,795 2021 16,682 1,843 2022 13,759 1,803 2023 11,203 1,818 Thereafter 37,677 15,202 Total future minimum lease payments 109,749 23,345 Less imputed interest (19,422 ) (6,846 ) Total $ 90,327 $ 16,499

Segment Data (Tables)

Segment Data (Tables)	6 Months Ended
	Jun. 30, 2019
Segment Reporting [Abstract]
Schedule of Segment Financial Information	Segment financial information is included in the following tables for the periods presented (in thousands): Three Months Ended June 30, 2019 Broadcast Other Consolidated Net revenue $ 621,895 $ 27,117 $ 649,012 Depreciation 25,422 2,668 28,090 Amortization of intangible assets 30,770 5,587 36,357 Income (loss) from operations 192,093 (42,149 ) 149,944 Three Months Ended June 30, 2018 Broadcast Other Consolidated Net revenue $ 622,888 $ 37,435 $ 660,323 Depreciation 20,961 4,129 25,090 Amortization of intangible assets 31,876 5,305 37,181 Income (loss) from operations 207,543 (33,049 ) 174,494 Six Months Ended June 30, 2019 Broadcast Other Consolidated Net revenue $ 1,221,078 $ 54,581 $ 1,275,659 Depreciation 49,049 6,478 55,527 Amortization of intangible assets 61,615 11,480 73,095 Income (loss) from operations 360,593 (83,575 ) 277,018 Six Months Ended June 30, 2018 Broadcast Other Consolidated Net revenue $ 1,199,873 $ 75,786 $ 1,275,659 Depreciation 42,361 8,543 50,904 Amortization of intangible assets 63,929 9,554 73,483 Income (loss) from operations 360,110 (68,000 ) 292,110 As of June 30, 2019 Broadcast Other Consolidated Goodwill $ 2,123,935 $ 42,475 $ 2,166,410 Assets 6,673,782 357,753 7,031,535 As of December 31, 2018 Broadcast Other Consolidated Goodwill $ 2,125,479 $ 42,475 $ 2,167,954 Assets 6,622,604 439,426 7,062,030
Summary of Disaggregation of Revenue	The following tables present the disaggregation of the Company’s revenue for the periods presented (in thousands): Three Months Ended June 30, 2019 Broadcast Other Consolidated Local $ 199,279 $ - $ 199,279 National 68,332 - 68,332 Political 3,157 - 3,157 Retransmission compensation 314,268 - 314,268 Digital 29,135 27,102 56,237 Other 3,610 15 3,625 Trade revenue 4,114 - 4,114 Total revenue $ 621,895 $ 27,117 $ 649,012 Three Months Ended June 30, 2018 Broadcast Other Consolidated Local $ 198,560 $ - $ 198,560 National 71,633 - 71,633 Political 31,636 - 31,636 Retransmission compensation 276,273 - 276,273 Digital 26,578 37,421 63,999 Other 14,191 14 14,205 Trade revenue 4,017 - 4,017 Total revenue $ 622,888 $ 37,435 $ 660,323 Six Months Ended June 30, 2019 Broadcast Other Consolidated Local $ 387,445 $ - $ 387,445 National 132,010 - 132,010 Political 4,464 - 4,464 Retransmission compensation 628,242 - 628,242 Digital 54,521 54,551 109,072 Other 7,459 30 7,489 Trade revenue 6,937 - 6,937 Total revenue $ 1,221,078 $ 54,581 $ 1,275,659 Six Months Ended June 30, 2018 Broadcast Other Consolidated Local $ 391,828 $ - $ 391,828 National 138,678 - 138,678 Political 40,902 - 40,902 Retransmission compensation 552,214 - 552,214 Digital 51,046 75,757 126,803 Other 18,345 29 18,374 Trade revenue 6,860 - 6,860 Total revenue $ 1,199,873 $ 75,786 $ 1,275,659

Condensed Consolidating Finan_2

Condensed Consolidating Financial Information (Tables)	6 Months Ended
	Jun. 30, 2019
Condensed Financial Information Of Parent Company Only Disclosure [Abstract]
Schedule of Condensed Consolidating Balance Sheet	CONDENSED CONSOLIDATING BALANCE SHEET As of June 30, 2019 (in thousands) Nexstar Non- Consolidated Nexstar Broadcasting Mission Guarantors Eliminations Company ASSETS Current assets: Cash and cash equivalents $ - $ 51,415 $ 8,970 $ 19,539 $ - $ 79,924 Accounts receivable - 477,869 14,236 50,505 - 542,610 Amounts due from consolidated entities - 85,500 69,274 - (154,774 ) - Spectrum asset - 118,969 - - - 118,969 Other current assets - 30,961 621 2,863 - 34,445 Total current assets - 764,714 93,101 72,907 (154,774 ) 775,948 Investments in subsidiaries 1,254,638 108,884 - - (1,363,522 ) - Amounts due from consolidated entities 747,610 - - - (747,610 ) - Property and equipment, net - 707,551 22,167 19,004 (75 ) 748,647 Goodwill - 1,969,148 33,187 164,075 - 2,166,410 FCC licenses - 1,626,460 43,102 108,706 - 1,778,268 Other intangible assets, net - 1,283,949 12,701 100,208 - 1,396,858 Other noncurrent assets 725 136,108 11,996 16,575 - 165,404 Total assets $ 2,002,973 $ 6,596,814 $ 216,254 $ 481,475 $ (2,265,981 ) $ 7,031,535 LIABILITIES AND STOCKHOLDERS' EQUITY (DEFICIT) Current liabilities: Current portion of debt $ - $ 41,477 $ 2,285 $ 51,178 $ - $ 94,940 Accounts payable - 55,764 1,386 13,242 - 70,392 Amounts due to consolidated entities - - - 154,774 (154,774 ) - Liability to surrender spectrum asset - 129,964 - - - 129,964 Other current liabilities 258 163,542 6,766 28,185 - 198,751 Total current liabilities 258 390,747 10,437 247,379 (154,774 ) 494,047 Debt - 3,447,326 221,560 20,892 - 3,689,778 Amounts due to consolidated entities - 522,075 - 225,745 (747,820 ) - Deferred tax liabilities - 634,624 - 7,901 - 642,525 Other noncurrent liabilities - 217,855 10,842 18,271 - 246,968 Total liabilities 258 5,212,627 242,839 520,188 (902,594 ) 5,073,318 Total stockholders' equity (deficit) 2,002,715 1,384,187 (26,585 ) (53,151 ) (1,363,387 ) 1,943,779 Noncontrolling interests in consolidated variable interest entities - - - 14,438 - 14,438 Total liabilities and stockholders' equity (deficit) $ 2,002,973 $ 6,596,814 $ 216,254 $ 481,475 $ (2,265,981 ) $ 7,031,535 CONDENSED CONSOLIDATING BALANCE SHEET As of December 31, 2018 (in thousands) Nexstar Non- Consolidated Nexstar Broadcasting Mission Guarantors Eliminations Company ASSETS Current assets: Cash and cash equivalents $ - $ 105,665 $ 10,798 $ 28,652 $ - $ 145,115 Accounts receivable - 466,270 12,857 68,158 - 547,285 Amounts due from consolidated entities - 88,987 77,521 - (166,508 ) - Spectrum asset - 52,002 - - - 52,002 Other current assets - 17,420 1,655 3,598 - 22,673 Total current assets - 730,344 102,831 100,408 (166,508 ) 767,075 Investments in subsidiaries 1,119,605 108,884 - - (1,228,489 ) - Amounts due from consolidated entities 782,365 - - - (782,365 ) - Property and equipment, net - 696,910 19,867 14,833 (72 ) 731,538 Goodwill - 1,970,692 33,187 164,075 - 2,167,954 FCC licenses - 1,620,610 43,102 114,556 - 1,778,268 Other intangible assets, net - 1,365,159 13,712 113,052 - 1,491,923 Other noncurrent assets - 116,660 4,421 4,191 - 125,272 Total assets $ 1,901,970 $ 6,609,259 $ 217,120 $ 511,115 $ (2,177,434 ) $ 7,062,030 LIABILITIES AND STOCKHOLDERS' EQUITY (DEFICIT) Current liabilities: Current portion of debt $ - $ 41,477 $ 2,285 $ 52,331 $ - $ 96,093 Accounts payable - 47,574 2,357 17,897 - 67,828 Liability to surrender spectrum asset - 52,002 - - - 52,002 Amounts due to consolidated entities - - - 166,508 (166,508 ) - Other current liabilities 299 155,023 4,441 28,486 - 188,249 Total current liabilities 299 296,076 9,083 265,222 (166,508 ) 404,172 Debt - 3,641,193 222,354 21,363 - 3,884,910 Amounts due to consolidated entities 559,057 - 223,519 (782,576 ) - Deferred tax liabilities 62 624,869 - 8,949 - 633,880 Other noncurrent liabilities - 255,228 6,820 8,036 - 270,084 Total liabilities 361 5,376,423 238,257 527,089 (949,084 ) 5,193,046 Total Nexstar Media Group, Inc. stockholders' equity (deficit) 1,901,609 1,232,836 (21,137 ) (32,184 ) (1,228,350 ) 1,852,774 Noncontrolling interests in consolidated variable interest entities - - - 16,210 - 16,210 Total liabilities and stockholders' equity (deficit) $ 1,901,970 $ 6,609,259 $ 217,120 $ 511,115 $ (2,177,434 ) $ 7,062,030
Schedule of Condensed Consolidating Statement of Operations	CONDENSED CONSOLIDATING STATEMENT OF OPERATIONS Three Months Ended June 30, 2019 (in thousands) Nexstar Non- Consolidated Nexstar Broadcasting Mission Guarantors Eliminations Company Net broadcast revenue (including trade) $ - $ 590,978 $ 18,910 $ 39,124 $ - $ 649,012 Revenue between consolidated entities 8,564 22,425 8,262 19,279 (58,530 ) - Net revenue 8,564 613,403 27,172 58,403 (58,530 ) 649,012 Operating expenses (income): Direct operating expenses, excluding depreciation and amortization - 240,974 11,995 45,042 (1,967 ) 296,044 Selling, general, and administrative expenses, excluding depreciation and amortization 9,745 140,732 998 9,874 (17,291 ) 144,058 Local service agreement fees between consolidated entities - 16,848 14,575 7,849 (39,272 ) - Amortization of broadcast rights - 12,936 369 630 - 13,935 Amortization of intangible assets - 28,615 491 7,251 - 36,357 Depreciation - 26,678 620 792 - 28,090 Reimbursement from the FCC related to station repack - (14,546 ) (764 ) (4,106 ) - (19,416 ) Total operating expenses 9,745 452,237 28,284 67,332 (58,530 ) 499,068 (Loss) income from operations (1,181 ) 161,166 (1,112 ) (8,929 ) - 149,944 Interest expense, net - (47,640 ) (2,898 ) (825 ) - (51,363 ) Loss on extinguishment of debt - (2,026 ) - - - (2,026 ) Pension and other postretirement plans credit, net - 1,400 - - - 1,400 Other expenses - (562 ) - (12 ) - (574 ) Equity in income of subsidiaries 74,274 - - - (74,274 ) - Income (loss) before income taxes 73,093 112,338 (4,010 ) (9,766 ) (74,274 ) 97,381 Income tax benefit (expense) 161 (29,826 ) 1,016 2,003 - (26,646 ) Net income (loss) 73,254 82,512 (2,994 ) (7,763 ) (74,274 ) 70,735 Net income attributable to noncontrolling interests - - - (2,733 ) - (2,733 ) Net income (loss) attributable to Nexstar $ 73,254 $ 82,512 $ (2,994 ) $ (10,496 ) $ (74,274 ) $ 68,002 CONDENSED CONSOLIDATING STATEMENT OF OPERATIONS Three Months Ended June 30, 2018 (in thousands) Nexstar Non- Consolidated Nexstar Broadcasting Mission Guarantors Eliminations Company Net broadcast revenue (including trade) $ - $ 594,056 $ 17,606 $ 48,661 $ - $ 660,323 Revenue between consolidated entities 13,205 22,447 9,058 18,439 (63,149 ) - Net revenue 13,205 616,503 26,664 67,100 (63,149 ) 660,323 Operating expenses (income): Direct operating expenses, excluding depreciation and amortization - 218,740 10,013 46,996 (1,310 ) 274,439 Selling, general, and administrative expenses, excluding depreciation and amortization 15,181 133,087 1,112 10,945 (21,422 ) 138,903 Local service agreement fees between consolidated entities - 17,971 13,250 9,196 (40,417 ) - Amortization of broadcast rights - 14,797 409 707 - 15,913 Amortization of intangible assets - 29,674 540 6,967 - 37,181 Depreciation - 22,885 504 1,701 - 25,090 Reimbursement from the FCC related to station repack - (5,510 ) (187 ) - - (5,697 ) Total operating expenses 15,181 431,644 25,641 76,512 (63,149 ) 485,829 (Loss) income from operations (1,976 ) 184,859 1,023 (9,412 ) - 174,494 Interest expense, net - (52,539 ) (2,739 ) (1,003 ) - (56,281 ) Loss on extinguishment of debt - (481 ) - - - (481 ) Pension and other postretirement plans credit, net - 2,950 - - - 2,950 Other expenses - (812 ) - - - (812 ) Equity in income of subsidiaries 94,171 - - - (94,171 ) - Income (loss) before income taxes 92,195 133,977 (1,716 ) (10,415 ) (94,171 ) 119,870 Income tax (expense) benefit (423 ) (34,455 ) 425 1,189 - (33,264 ) Net income (loss) 91,772 99,522 (1,291 ) (9,226 ) (94,171 ) 86,606 Net loss attributable to noncontrolling interests - - - 1,126 - 1,126 Net income (loss) attributable to Nexstar $ 91,772 $ 99,522 $ (1,291 ) $ (8,100 ) $ (94,171 ) $ 87,732 CONDENSED CONSOLIDATING STATEMENT OF OPERATIONS Six Months Ended June 30, 2019 (in thousands) Nexstar Non- Consolidated Nexstar Broadcasting Mission Guarantors Eliminations Company Net broadcast revenue (including trade) $ - $ 1,158,758 $ 38,317 $ 78,584 $ - $ 1,275,659 Revenue between consolidated entities 16,982 44,658 16,024 36,996 (114,660 ) - Net revenue 16,982 1,203,416 54,341 115,580 (114,660 ) 1,275,659 Operating expenses (income): Direct operating expenses, excluding depreciation and amortization - 481,169 24,031 87,541 (3,834 ) 588,907 Selling, general, and administrative expenses, excluding depreciation and amortization 19,493 278,001 1,989 19,901 (32,966 ) 286,418 Local service agreement fees between consolidated entities - 33,202 29,150 15,508 (77,860 ) - Amortization of broadcast rights - 26,287 752 1,258 - 28,297 Amortization of intangible assets - 57,278 1,010 14,807 - 73,095 Depreciation - 51,905 1,228 2,394 - 55,527 Reimbursement from the FCC related to station repack - (24,231 ) (2,300 ) (7,072 ) - (33,603 ) Total operating expenses 19,493 903,611 55,860 134,337 (114,660 ) 998,641 (Loss) income from operations (2,511 ) 299,805 (1,519 ) (18,757 ) - 277,018 Interest expense, net - (96,848 ) (5,784 ) (1,688 ) - (104,320 ) Loss on extinguishment of debt - (3,724 ) - - - (3,724 ) Pension and other postretirement plans credit, net - 2,800 - - - 2,800 Other expenses - (1,037 ) - (28 ) - (1,065 ) Equity in income of subsidiaries 135,032 - - - (135,032 ) - Income (loss) before income taxes 132,521 200,996 (7,303 ) (20,473 ) (135,032 ) 170,709 Income tax benefit (expense) 473 (49,648 ) 1,851 4,237 - (43,087 ) Net income (loss) 132,994 151,348 (5,452 ) (16,236 ) (135,032 ) 127,622 Net income attributable to noncontrolling interests - - - (4,728 ) - (4,728 ) Net income (loss) attributable to Nexstar $ 132,994 $ 151,348 $ (5,452 ) $ (20,964 ) $ (135,032 ) $ 122,894 CONDENSED CONSOLIDATING STATEMENT OF OPERATIONS Six Months Ended June 30, 2018 (in thousands) Nexstar Non- Consolidated Nexstar Broadcasting Mission Guarantors Eliminations Company Net broadcast revenue (including trade) $ - $ 1,143,737 $ 33,763 $ 98,159 $ - $ 1,275,659 Revenue between consolidated entities 13,205 42,703 17,486 35,144 (108,538 ) - Net revenue 13,205 1,186,440 51,249 133,303 (108,538 ) 1,275,659 Operating expenses (income): Direct operating expenses, excluding depreciation and amortization - 439,919 20,160 95,987 (2,664 ) 553,402 Selling, general, and administrative expenses, excluding depreciation and amortization 15,181 269,272 2,328 22,251 (28,224 ) 280,808 Local service agreement fees between consolidated entities - 34,947 26,500 16,203 (77,650 ) - Amortization of broadcast rights - 29,792 821 1,400 - 32,013 Amortization of intangible assets - 59,519 1,084 12,880 - 73,483 Depreciation - 46,346 1,021 3,537 - 50,904 Reimbursement from the FCC related to station repack - (6,874 ) (187 ) - - (7,061 ) Total operating expenses 15,181 872,921 51,727 152,258 (108,538 ) 983,549 (Loss) income from operations (1,976 ) 313,519 (478 ) (18,955 ) - 292,110 Interest expense, net - (103,573 ) (5,350 ) (1,947 ) - (110,870 ) Loss on extinguishment of debt - (1,486 ) - - - (1,486 ) Pension and other postretirement plans credit, net - 5,900 - - - 5,900 Other expenses - (941 ) - 2 - (939 ) Equity in income of subsidiaries 146,203 - - - (146,203 ) - Income (loss) before income taxes 144,227 213,419 (5,828 ) (20,900 ) (146,203 ) 184,715 Income tax (expense) benefit (423 ) (54,905 ) 1,406 3,154 - (50,768 ) Net income (loss) 143,804 158,514 (4,422 ) (17,746 ) (146,203 ) 133,947 Net loss attributable to noncontrolling interests - - - 1,907 - 1,907 Net income (loss) attributable to Nexstar $ 143,804 $ 158,514 $ (4,422 ) $ (15,839 ) $ (146,203 ) $ 135,854
Schedule of Condensed Consolidating Cash Flow Statement	CONDENSED CONSOLIDATING STATEMENT OF CASH FLOWS Six Months Ended June 30, 2019 (in thousands) Nexstar Non- Consolidated Nexstar Broadcasting Mission Guarantors Eliminations Company Cash flows from operating activities $ - $ 240,814 $ 1,507 $ (5,921 ) $ - $ 236,400 Cash flows from investing activities: Purchases of property and equipment - (60,002 ) (2,956 ) (8,510 ) - (71,468 ) Spectrum repack reimbursements from the FCC - 25,767 764 7,072 - 33,603 Other investing activities - 995 - 14 - 1,009 Net cash used in investing activities - (33,240 ) (2,192 ) (1,424 ) - (36,856 ) Cash flows from financing activities: Repayments of long-term debt - (200,738 ) (1,143 ) (1,727 ) - (203,608 ) Common stock dividends paid (41,319 ) - - - - (41,319 ) Inter-company payments 49,649 (49,649 ) - - - - Purchase of noncontrolling interest from a consolidated variable interest entity - (6,393 ) - - - (6,393 ) Cash paid for shares withheld for taxes (9,813 ) - - - - (9,813 ) Other financing activities 1,483 (5,044 ) - (41 ) - (3,602 ) Net cash used in financing activities - (261,824 ) (1,143 ) (1,768 ) - (264,735 ) Net increase in cash, cash equivalents and restricted cash - (54,250 ) (1,828 ) (9,113 ) - (65,191 ) Cash, cash equivalents and restricted cash at beginning of period - 105,665 10,798 28,652 - 145,115 Cash, cash equivalents and restricted cash at end of period $ - $ 51,415 $ 8,970 $ 19,539 $ - $ 79,924 CONDENSED CONSOLIDATING STATEMENT OF CASH FLOWS Six Months Ended June 30, 2018 (in thousands) Nexstar Non- Consolidated Nexstar Broadcasting Mission Guarantors Eliminations Company Cash flows from operating activities $ - $ 313,735 $ (1,484 ) $ 4,823 $ - $ 317,074 Cash flows from investing activities: Purchases of property and equipment - (32,198 ) (512 ) (3,680 ) - (36,390 ) Payments for acquisitions - (85,867 ) - - - (85,867 ) Spectrum repack reimbursements from the FCC - 6,875 186 - - 7,061 Other investing activities - 4,256 - 5 - 4,261 Net cash used in investing activities - (106,934 ) (326 ) (3,675 ) - (110,935 ) Cash flows from financing activities: Proceeds from long-term debt - 44,000 - 51,759 - 95,759 Repayments of long-term debt - (122,120 ) (1,157 ) (53,639 ) - (176,916 ) Common stock dividends paid (34,443 ) - - - - (34,443 ) Purchase of treasury stock (50,524 ) - - - - (50,524 ) Inter-company payments 87,624 (87,624 ) - - - - Other financing activities (2,657 ) (5,555 ) - 226 - (7,986 ) Net cash used in financing activities - (171,299 ) (1,157 ) (1,654 ) - (174,110 ) Net increase (decrease) in cash, cash equivalents and restricted cash - 35,502 (2,967 ) (506 ) - 32,029 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 $ - $ 126,362 $ 6,557 $ 14,762 $ - $ 147,681

Organization and Business Ope_2

Organization and Business Operations (Details)	Jun. 30, 2019TelevisionStationMarket
Organization Consolidation And Presentation Of Financial Statements [Abstract]
Number of full power television stations owned, operated, programmed or provided sales and other services	174
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 Accoun_4

Summary of Significant Accounting Policies - Consolidated VIEs (Details) - USD ($) $ in Thousands		Jun. 30, 2019	Dec. 31, 2018
Current assets:
Cash and cash equivalents		$ 79,924	$ 145,115
Accounts receivable, net		542,610	547,285
Prepaid expenses and other current assets		34,445	22,673
Total current assets		775,948	767,075
Property and equipment, net		748,647	731,538
Goodwill		2,166,410	2,167,954
FCC licenses		1,778,268	1,778,268
Other intangible assets, net		1,396,858	1,491,923
Other noncurrent assets, net		165,404	125,272
Total assets	[1]	7,031,535	7,062,030
Current liabilities		494,047	404,172
Total liabilities	[1]	5,073,318	5,193,046
Current liabilities:
Current portion of debt		94,940	96,093
Interest payable		34,397	32,047
Other current liabilities		23,361	12,352
Total current liabilities		494,047	404,172
Debt		3,689,778	3,884,910
Other noncurrent liabilities		246,968	270,084
Non Guarantor VIEs [Member]
Current assets:
Total current assets		24,375	20,898
Property and equipment, net		16,366	10,994
Goodwill		121,600	121,600
FCC licenses		151,808	157,658
Other intangible assets, net		71,936	75,513
Other noncurrent assets, net		9,121	3,652
Total assets		395,206	390,315
Current liabilities		19,206	17,594
Noncurrent liabilities		36,741	27,542
Total liabilities		55,947	45,136
Current liabilities:
Total current liabilities		19,206	17,594
Consolidated VIEs [Member]
Current assets:
Cash and cash equivalents		22,083	19,060
Accounts receivable, net		23,676	22,725
Prepaid expenses and other current assets		2,443	4,423
Total current assets		48,202	46,208
Property and equipment, net		38,533	30,861
Goodwill		154,787	154,787
FCC licenses		151,808	157,658
Other intangible assets, net		84,637	89,225
Other noncurrent assets, net		21,117	8,073
Total assets		499,084	486,812
Current liabilities		73,730	72,555
Total liabilities		352,923	343,814
Current liabilities:
Current portion of debt		53,463	54,616
Interest payable		1,061	345
Other current liabilities		19,206	17,594
Total current liabilities		73,730	72,555
Debt		242,452	243,717
Other noncurrent liabilities		$ 36,741	$ 27,542
[1]	The consolidated total assets as of June 30, 2019 and December 31, 2018 include certain assets held by consolidated variable interest entities of $395.2 million and $390.3 million, respectively, which are not available to be used to settle the obligations of Nexstar Media Group, Inc. The consolidated total liabilities as of June 30, 2019 and December 31, 2018 include certain liabilities of consolidated variable interest entities of $55.9 million and $45.1 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 Accoun_5

Summary of Significant Accounting Policies - Additional Information (Details)	Dec. 17, 2018	Nov. 30, 2018USD ($)$ / shares	Jun. 30, 2019USD ($)shares	Jun. 30, 2018shares	Jun. 30, 2019USD ($)shares	Jun. 30, 2018shares	Jul. 03, 2019USD ($)	Apr. 08, 2019Station	Mar. 20, 2019MarketStation	Jan. 01, 2019USD ($)	Dec. 31, 2018USD ($)
Significant Accounting Policies [Line Items]
Operating lease ROU assets			$ 104,729,000		$ 104,729,000
Future operating lease payments			90,327,000		90,327,000
Retained earnings			$ 701,946,000		$ 701,946,000						$ 620,371,000
Stock options and restricted stock units with potentially dilutive effect (in shares) | shares			0	0	15,000	38,000
ASC 842 Adoption Adjustments [Member]
Significant Accounting Policies [Line Items]
Operating lease ROU assets										$ 112,800,000
Future operating lease payments										98,900,000
Retained earnings										$ 0
Senior Subordinated Notes [Member] | 5.625 % Due 2027 [Member] | Nexstar Escrow Corporation [Member] | Subsequent Event [Member]
Significant Accounting Policies [Line Items]
Debt issuance							$ 1,120,000,000
Interest rate							5.625%
Tribune [Member] | Term Loans [Member]
Significant Accounting Policies [Line Items]
Debt financing			$ 3,740,000,000		$ 3,740,000,000
KHII [Member] | Consolidated VIEs [Member]
Significant Accounting Policies [Line Items]
Acquisition date	Nov. 1, 2018
Definitive Merger Agreement [Member] | Tribune [Member]
Significant Accounting Policies [Line Items]
Acquisition date		Nov. 30, 2018
Outstanding equity acquired, price per share | $ / shares		$ 46.50
Purchase price of entities acquired		$ 7,165,000,000
Definitive Merger Agreement [Member] | Tribune [Member] | Commercial Banks [Member]
Significant Accounting Policies [Line Items]
Debt financing		$ 6,400,000,000
Definitive Asset Purchase Agreements [Member]
Significant Accounting Policies [Line Items]
Number of television stations to be sold | Station									19
Number of market to be sold and operate | Market									15
Total selling price of proposed divestitures			$ 1,362,000,000		$ 1,362,000,000
Definitive Asset Purchase Agreements [Member] | Tegna Inc [Member]
Significant Accounting Policies [Line Items]
Number of television stations to be sold | Station									11
Number of market to be sold and operate | Market									8
Definitive Asset Purchase Agreements [Member] | E.W. Scripps [Member]
Significant Accounting Policies [Line Items]
Number of television stations to be sold | Station									8
Number of market to be sold and operate | Market									7
Definitive Asset Purchase Agreements [Member] | Circle City Broadcasting I, Inc [Member]
Significant Accounting Policies [Line Items]
Number of television stations to be sold | Station								2

Summary of Significant Accoun_6

Summary of Significant Accounting Policies - Schedule of ASC 842 Adoption Adjustments Impact on Condensed Balance Sheets (Details) - USD ($) $ in Thousands		Jun. 30, 2019	Jan. 01, 2019	Dec. 31, 2018
Prepaid expenses and other current assets		$ 34,445		$ 22,673
Other intangible assets, net		1,396,858		1,491,923
Other noncurrent assets, net		165,404		125,272
Total assets	[1]	7,031,535		7,062,030
Other current liabilities		23,361		12,352
Other noncurrent liabilities		246,968		270,084
Total liabilities	[1]	$ 5,073,318		$ 5,193,046
ASC 842 Adoption Adjustments [Member]
Prepaid expenses and other current assets			$ 22,403
Other intangible assets, net			1,467,742
Other noncurrent assets, net			237,839
Total assets			7,150,146
Other current liabilities			27,683
Other noncurrent liabilities			342,869
Total liabilities			5,281,162
ASC 842 Adoption Adjustments [Member] | Present Value of Remaining Operating Lease Payments Adjustments [Member]
Other noncurrent assets, net			98,887
Total assets			98,887
Other current liabilities			17,399
Other noncurrent liabilities			81,488
Total liabilities			98,887
ASC 842 Adoption Adjustments [Member] | Reclassifications Adjustments of Operating Lease Favorable (Unfavorable) Leases to Operating Lease Right of Use Assets {Member]
Other intangible assets, net			(24,181)
Other noncurrent assets, net			24,181
ASC 842 Adoption Adjustments [Member] | Reclassifications Adjustments of Operating Lease Deferred Rent to Operating Lease Right of Use Assets {Member]
Other noncurrent assets, net			(9,781)
Total assets			(9,781)
Other current liabilities			(1,645)
Other noncurrent liabilities			(8,136)
Total liabilities			(9,781)
ASC 842 Adoption Adjustments [Member] | Reclassifications Adjustments of Operating Lease Other to Operating Lease Right of Use Assets [Member]
Prepaid expenses and other current assets			(270)
Other noncurrent assets, net			(720)
Total assets			(990)
Other current liabilities			(423)
Other noncurrent liabilities			(567)
Total liabilities			(990)
ASC 842 Adoption Adjustments [Member] | Reclassifications Adjustments of Operating Lease Total to Operating Lease Right of Use Assets [Member]
Prepaid expenses and other current assets			(270)
Other intangible assets, net			(24,181)
Other noncurrent assets, net			112,567
Total assets			88,116
Other current liabilities			15,331
Other noncurrent liabilities			72,785
Total liabilities			$ 88,116
[1]	The consolidated total assets as of June 30, 2019 and December 31, 2018 include certain assets held by consolidated variable interest entities of $395.2 million and $390.3 million, respectively, which are not available to be used to settle the obligations of Nexstar Media Group, Inc. The consolidated total liabilities as of June 30, 2019 and December 31, 2018 include certain liabilities of consolidated variable interest entities of $55.9 million and $45.1 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 Accoun_7

Summary of Significant Accounting Policies - Weighted Average Shares Outstanding (Details) - shares shares in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018
Earnings Per Share Basic And Diluted Other Disclosures [Abstract]
Weighted average shares outstanding - basic	46,090	45,631	45,938	45,852
Dilutive effect of equity incentive plan instruments	1,881	1,516	1,940	1,562
Weighted average shares outstanding - diluted	47,971	47,147	47,878	47,414

Acquisitions and Dispositions -

Acquisitions and Dispositions - Tribune Divestitures - Merger Agreement with Tribune - Additional Information (Details)	Nov. 30, 2018USD ($)TelevisionStationSatelliteTelevisionStationRadioStation$ / shares	Jun. 30, 2019USD ($)	Jun. 30, 2018USD ($)	Jun. 30, 2019USD ($)	Jun. 30, 2018USD ($)	Jul. 03, 2019USD ($)	Apr. 08, 2019USD ($)Station	Mar. 20, 2019USD ($)MarketStation
Senior Subordinated Notes [Member] | 5.625 % Due 2027 [Member] | Nexstar Escrow Corporation [Member] | Subsequent Event [Member]
Business Acquisition [Line Items]
Debt issuance						$ 1,120,000,000
Interest rate						5.625%
Definitive Merger Agreement [Member] | Tribune [Member]
Business Acquisition [Line Items]
Acquisition date	Nov. 30, 2018
Outstanding equity acquired, price per share | $ / shares	$ 46.50
Purchase price of entities acquired	$ 7,165,000,000
Additional cash consideration if transaction not closed by August 31, 2019 | $ / shares	0.30
Acquisition related costs		$ 3,500,000	$ 0	$ 7,300,000	$ 0
Termination fee payable by Tribune upon termination	$ 135,000,000
Number of local television stations | TelevisionStation	44
Number of satellite television stations | SatelliteTelevisionStation	2
Number of AM radio station | RadioStation	1
Definitive Merger Agreement [Member] | Tribune [Member] | Commercial Banks [Member]
Business Acquisition [Line Items]
Debt financing to consummate the merger and refinancing of indebtedness of Tribune and related transactions	$ 6,400,000,000
Definitive Asset Purchase Agreements [Member]
Business Acquisition [Line Items]
Number of television stations to be sold | Station								19
Number of market to be sold and operate | Market								15
Definitive Asset Purchase Agreements [Member] | Tegna Inc [Member]
Business Acquisition [Line Items]
Number of television stations to be sold | Station								11
Number of market to be sold and operate | Market								8
Purchase price of entities acquired								$ 740,000,000
Definitive Asset Purchase Agreements [Member] | E.W. Scripps [Member]
Business Acquisition [Line Items]
Number of television stations to be sold | Station								8
Number of market to be sold and operate | Market								7
Purchase price of entities acquired								$ 580,000,000
Definitive Asset Purchase Agreements [Member] | Circle City Broadcasting I, Inc [Member]
Business Acquisition [Line Items]
Number of television stations to be sold | Station							2
Purchase price of entities acquired							$ 42,500,000

Acquisitions and Dispositions_2

Acquisitions and Dispositions - Tribune Divestitures - KHII - Additional Information (Details) - USD ($) $ in Thousands	Jan. 28, 2019	Jun. 30, 2019
Business Acquisition [Line Items]
Noncontrolling interest		$ 6,500
KHII [Member]
Business Acquisition [Line Items]
Cash paid in business acquisition	$ 6,400
Utilization of deposit previously paid	100
Noncontrolling interest	$ 6,500

Intangible Assets and Goodwil_2

Intangible Assets and Goodwill - Intangible Assets Subject to Amortization (Details) - USD ($) $ in Thousands	6 Months Ended	12 Months Ended
	Jun. 30, 2019	Dec. 31, 2018
Finite-Lived Intangible Assets [Line Items]
Gross	$ 2,200,592	$ 2,223,962
Accumulated Amortization	(803,734)	(732,039)
Net	$ 1,396,858	$ 1,491,923
Network affiliation agreements [Member]
Finite-Lived Intangible Assets [Line Items]
Estimated useful life, in years	15 years	15 years
Gross	$ 1,977,825	$ 1,977,825
Accumulated Amortization	(632,497)	(575,860)
Net	1,345,328	1,401,965
Other definite-lived intangible assets [Member]
Finite-Lived Intangible Assets [Line Items]
Gross	222,767	246,137
Accumulated Amortization	(171,237)	(156,179)
Net	$ 51,530	$ 89,958
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 Goodwil_3

Intangible Assets and Goodwill - Additional Information (Detail) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2019	Jan. 01, 2019	Dec. 31, 2018
Finite-Lived Intangible Assets [Line Items]
Other noncurrent assets, net	$ 165,404		$ 125,272
Measurement period adjustments	$ 1,544
ASC 842 [Member]
Finite-Lived Intangible Assets [Line Items]
Other noncurrent assets, net		$ 237,839
ASC 842 [Member] | Reclassifications Adjustments of Operating Lease Favorable Leases to Operating Lease Right of Use Assets {Member]
Finite-Lived Intangible Assets [Line Items]
Other noncurrent assets, net		$ 24,181

Intangible Assets and Goodwil_4

Intangible Assets and Goodwill - Estimated Amortization Expense of Definite-Lived Intangibles Assets (Details) - USD ($) $ in Thousands	Jun. 30, 2019	Dec. 31, 2018
Finite Lived Intangible Assets Future Amortization Expense Current And Five Succeeding Fiscal Years [Abstract]
Remainder of 2019	$ 71,470
2020	131,376
2021	116,075
2022	113,645
2023	112,353
2024	111,837
Thereafter	740,102
Net	$ 1,396,858	$ 1,491,923

Intangible Assets and Goodwil_5

Intangible Assets and Goodwill - Goodwill and FCC Licenses (Details) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2019	Dec. 31, 2018
Goodwill [Roll Forward]
Goodwill, Gross	$ 2,256,230	$ 2,257,774
Goodwill, Accumulated Impairment	(89,820)	(89,820)
Goodwill, Net	2,166,410	2,167,954
Measurement period adjustments, Gross	(1,544)
Measurement period adjustments, Net	(1,544)
FCC Licenses [Abstract]
FCC Licenses, Gross	1,825,678	1,825,678
FCC Licenses, Accumulated Impairment	(47,410)	(47,410)
FCC Licenses, Net	$ 1,778,268	$ 1,778,268

Accrued Expenses - Accrued Expe

Accrued Expenses - Accrued Expenses (Details) - USD ($) $ in Thousands	Jun. 30, 2019	Dec. 31, 2018
Payables And Accruals [Abstract]
Compensation and related taxes	$ 46,369	$ 44,269
Network affiliation fees	19,977	21,916
Capital expenditures	21,657	18,273
Other	52,990	59,392
Accrued expenses	$ 140,993	$ 143,850

Retirement and Postretirement_3

Retirement and Postretirement Plans - Summary of Components of Net Periodic Benefit Cost (Credit) (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018
Pension Benefits [Member]
Defined Benefit Plan Disclosure [Line Items]
Interest cost	$ 3,875	$ 3,350	$ 7,750	$ 6,700
Expected return on plan assets	(5,475)	(6,450)	(10,950)	(12,900)
Net periodic benefit (income) cost	(1,600)	(3,100)	(3,200)	(6,200)
OPEB [Member]
Defined Benefit Plan Disclosure [Line Items]
Interest cost	200	150	400	300
Net periodic benefit (income) cost	$ 200	$ 150	$ 400	$ 300

Retirement and Postretirement_4

Retirement and Postretirement Plans - Additional Information (Details)	6 Months Ended
	Jun. 30, 2019USD ($)
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	Jun. 30, 2019	Dec. 31, 2018
Long term Debt [Abstract]
Debt	$ 3,784,718	$ 3,981,003
Less: current portion	(94,940)	(96,093)
Debt, noncurrent	3,689,778	3,884,910
Notes Payable to Banks [Member] | Term Loans [Member]
Long term Debt [Abstract]
Debt	2,210,962	2,407,490
Revolving loans [Member]
Long term Debt [Abstract]
Debt	5,628	5,628
Senior Subordinated Notes [Member] | 6.125% Due 2022 [Member]
Long term Debt [Abstract]
Debt	273,673	273,444
Senior Subordinated Notes [Member] | 5.875% Due 2022 [Member]
Long term Debt [Abstract]
Debt	405,342	406,233
Senior Subordinated Notes [Member] | 5.625 % Due 2024 [Member]
Long term Debt [Abstract]
Debt	$ 889,113	$ 888,208

Debt - Long Term Debt (Parenthe

Debt - Long Term Debt (Parenthetical) (Details) - USD ($) $ in Thousands	Jun. 30, 2019	Dec. 31, 2018
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	$ 30,598	$ 37,679
Senior Subordinated Notes [Member] | 6.125% Due 2022 [Member]
Long term Debt [Abstract]
Debt financing costs and discount	$ 1,327	$ 1,556
Interest rate	6.125%	6.125%
Senior Subordinated Notes [Member] | 5.875% Due 2022 [Member]
Long term Debt [Abstract]
Debt financing costs and discount	$ 5,342	$ 6,233
Interest rate	5.875%	5.875%
Senior Subordinated Notes [Member] | 5.625 % Due 2024 [Member]
Long term Debt [Abstract]
Debt financing costs and discount	$ 10,887	$ 11,792
Interest rate	5.625%	5.625%

Debt - Additional Information (

Debt - Additional Information (Details) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018	Jul. 03, 2019	Dec. 31, 2018	Nov. 30, 2018
Debt Instrument [Line Items]
Loss on extinguishment of debt	$ 2,026,000	$ 481,000	$ 3,724,000	$ 1,486,000
Definitive Merger Agreement [Member] | Tribune [Member] | Commercial Banks [Member] | Maximum [Member]
Debt Instrument [Line Items]
Debt financing							$ 6,400,000,000
Term Loans [Member] | Tribune [Member]
Debt Instrument [Line Items]
Debt financing	$ 3,740,000,000		$ 3,740,000,000
6.125% Due 2022 [Member]
Debt Instrument [Line Items]
Interest rate	6.125%		6.125%
5.625 % Due 2024 [Member]
Debt Instrument [Line Items]
Interest rate	5.625%		5.625%
Senior Secured Credit Facility [Member]
Debt Instrument [Line Items]
Maximum consolidated first lien net leverage ratio			425.00%
Senior Secured Credit Facility [Member] | Term Loans [Member]
Debt Instrument [Line Items]
Prepayment of principal balance under term loan	$ 100,000,000		$ 180,000,000
Loss on extinguishment of debt	2,000,000		3,700,000
Repayment of debt			23,600,000
Senior Secured Credit Facility [Member] | 5.625 % Due 2027 [Member] | Nexstar Escrow Corporation [Member] | Subsequent Event [Member]
Debt Instrument [Line Items]
Debt issuance					$ 1,120,000,000
Interest rate					5.625%
Revolving loans [Member]
Debt Instrument [Line Items]
Available borrowing capacity	$ 166,400,000		$ 166,400,000
Senior Subordinated Notes [Member] | 5.625 % Due 2027 [Member] | Nexstar Escrow Corporation [Member] | Subsequent Event [Member]
Debt Instrument [Line Items]
Debt issuance					$ 1,120,000,000
Interest rate					5.625%
Senior Subordinated Notes [Member] | 6.125% Due 2022 [Member]
Debt Instrument [Line Items]
Interest rate	6.125%		6.125%			6.125%
Senior Subordinated Notes [Member] | 5.625 % Due 2024 [Member]
Debt Instrument [Line Items]
Interest rate	5.625%		5.625%			5.625%
Senior Subordinated Notes [Member] | 5.875% Due 2022 [Member]
Debt Instrument [Line Items]
Interest rate	5.875%		5.875%			5.875%

Debt - Fair Value of Debt (Deta

Debt - Fair Value of Debt (Details) - USD ($) $ in Thousands		Jun. 30, 2019	Dec. 31, 2018
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]	$ 2,210,962	$ 2,407,490
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]	2,215,451	2,389,439
Revolving loans [Member] | Carrying Amount [Member] | Level 3 [Member]
Fair Value of debt [Line Items]
Carrying Amount and Fair Value of Debt	[1]	5,628	5,628
Revolving loans [Member] | Fair Value [Member] | Level 3 [Member]
Fair Value of debt [Line Items]
Carrying Amount and Fair Value of Debt	[1]	5,593	5,528
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]	273,673	273,444
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]	278,438	275,688
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]	405,342	406,233
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]	409,000	397,000
Senior Subordinated Notes [Member] | 5.625 % Due 2024 [Member] | Carrying Amount [Member] | Level 2 [Member]
Fair Value of debt [Line Items]
Carrying Amount and Fair Value of Debt	[2]	889,113	888,208
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]	$ 929,250	$ 837,000
[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.

Leases - Additional Information

Leases - Additional Information (Details) - USD ($) $ in Millions	3 Months Ended	6 Months Ended
	Jun. 30, 2019	Jun. 30, 2019
Lessee Lease Description [Line Items]
Operating lease expenses	$ 5.3	$ 10.8
Direct Operating Expenses [Member]
Lessee Lease Description [Line Items]
Operating lease expenses	3.1	6.2
Selling General and Administrative Expenses [Member]
Lessee Lease Description [Line Items]
Operating lease expenses	$ 2.3	$ 4.7
Minimum [Member]
Lessee Lease Description [Line Items]
Leases remaining lease term		1 year
Leases option to extended lease term		2 years
Maximum [Member]
Lessee Lease Description [Line Items]
Leases remaining lease term		95 years
Leases option to extended lease term		99 years
Leases option to terminate term		2 years

Leases - Summary of Components

Leases - Summary of Components of Lease Expense (Details) $ in Thousands	Jun. 30, 2019USD ($)
Operating leases
Operating lease ROU assets	$ 104,729
Finance Lease, Right-of-Use Asset, Statement of Financial Position [Extensible List]	us-gaap:OtherAssetsNoncurrent
Current lease liabilities	$ 16,691
Operating Lease, Liability, Current, Statement of Financial Position [Extensible List]	us-gaap:OtherLiabilitiesCurrent
Noncurrent lease liabilities	$ 73,634
Operating Lease, Liability, Noncurrent, Statement of Financial Position [Extensible List]	us-gaap:OtherLiabilitiesNoncurrent
Finance leases
Finance lease right-of-use assets, net of accumulated depreciation	$ 8,733
Current lease liabilities	852
Noncurrent lease liabilities	$ 15,647
Finance Lease, Liability, Noncurrent, Statement of Financial Position [Extensible List]	us-gaap:OtherLiabilitiesNoncurrent
Finance Lease, Right-of-Use Asset, Statement of Financial Position [Extensible List]	us-gaap:PropertyPlantAndEquipmentNet
Finance Lease, Liability, Current, Statement of Financial Position [Extensible List]	us-gaap:OtherLiabilitiesCurrent

Leases - Summary of Component_2

Leases - Summary of Components of Lease Expense (Parenthetical) (Details) $ in Thousands	Jun. 30, 2019USD ($)
Leases [Abstract]
Finance lease right-of-use-assets, accumulated depreciation	$ 4,332

Leases - Summary of Other Infor

Leases - Summary of Other Information Related to Leases (Details) $ in Thousands	6 Months Ended
	Jun. 30, 2019USD ($)
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases	$ 11,232
Operating cash flows from finance leases	478
Financing cash flows from finance leases	$ 404
Weighted Average Remaining Lease Term
Operating leases	7 years 1 month 6 days
Finance leases	12 years
Weighted Average Discount Rate
Operating leases	5.20%
Finance leases	5.70%

Leases - Summary of Future Mini

Leases - Summary of Future Minimum Lease Payments Under Non-Cancellable Leases (Details) $ in Thousands	Jun. 30, 2019USD ($)
Operating Leases
Remainder of 2019	$ 10,771
2020	19,657
2021	16,682
2022	13,759
2023	11,203
Thereafter	37,677
Total future minimum lease payments	109,749
Less imputed interest	(19,422)
Total	90,327
Finance Leases
Remainder of 2019	884
2020	1,795
2021	1,843
2022	1,803
2023	1,818
Thereafter	15,202
Total future minimum lease payments	23,345
Less imputed interest	(6,846)
Total	$ 16,499

Common Stock - Additional Infor

Common Stock - Additional Information (Details) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018	Apr. 26, 2018
Treasury Stock [Member]
Class Of Stock [Line Items]
Purchase of treasury stock, shares		250,000		751,920
Class A Common Stock [Member]
Class Of Stock [Line Items]
Authorization of share repurchase					$ 200,000,000
Authorization of share repurchase, remaining amount available	$ 201,900,000		$ 201,900,000
Class A Common Stock [Member] | Treasury Stock [Member]
Class Of Stock [Line Items]
Purchase of treasury stock, shares	0		0

Stock-Based Compensation Plans

Stock-Based Compensation Plans - Additional Information (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018	Jun. 05, 2019
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Restricted stock award to employees and non-employee directors granted	0
2019 Long-Term Equity Incentive Plan [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Restricted stock award to employees and non-employee directors granted			0
Maximum [Member] | 2019 Long-Term Equity Incentive Plan [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Shares Available for Grant, Equity incentive Plan shares Approved					3,100,000
Time Based Restricted Stock Units [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Restricted stock award to employees and non-employee directors granted			340,500
Estimated fair value of RSU			$ 33
Time Based Restricted Stock Units [Member] | Minimum [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Share-based payment award vesting period			3 years
Time Based Restricted Stock Units [Member] | Maximum [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Share-based payment award vesting period			4 years
Performance Based Restricted Stock Unit [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Restricted stock award to employees and non-employee directors granted			113,334
Estimated fair value of RSU			$ 9.6
Performance Based Restricted Stock Unit [Member] | Minimum [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Share-based payment award vesting period			3 years
Performance Based Restricted Stock Unit [Member] | Maximum [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Share-based payment award vesting period			4 years
Restricted Stock Units [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Restricted stock award to employees and non-employee directors granted		224,000		651,500
Estimated fair value of RSU		$ 13.6		$ 42.2
Restricted Stock Units [Member] | Minimum [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Share-based payment award vesting period				3 years
Restricted Stock Units [Member] | 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		6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018
Income Tax Disclosure [Abstract]
Income tax expense (benefit)	$ 26,646	$ 33,264	$ 43,087	$ 50,768
Effective income tax rates	27.40%	27.80%	25.20%	27.50%
Excess tax benefits related stock-based compensation			$ (4,500)
Decrease in effective tax rate relates to excess tax benefits for stock-based compensation			(2.70%)

FCC Regulatory Matters - Additi

FCC Regulatory Matters - Additional Information (Details)	Feb. 06, 2019USD ($)	Jul. 21, 2017USD ($)	Apr. 13, 2017TelevisionStation	Nov. 30, 2017TelevisionStation	Jun. 30, 2019USD ($)TelevisionStation	Jun. 30, 2018USD ($)	Dec. 31, 2017USD ($)	Jun. 30, 2019USD ($)TelevisionStation	Jun. 30, 2018USD ($)
FCC Regulatory Matters [Line Items]
Maximum percentage of US television household reach					39.00%			39.00%
Percentage reach of ultra high frequency station					50.00%			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 | TelevisionStation			11
Number of stations to move to very high frequency channels | TelevisionStation					2			2
Number of stations went off the air | TelevisionStation				1
Number of remaining stations owned before ceased | TelevisionStation					10			10
Number of ceased broadcasting channels | TelevisionStation					8			8
Asset and (liability) surrender value | $					$ 314,100,000			$ 314,100,000
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 | $	$ 1,900,000,000
Capital expenditures related to station repack | $					22,600,000	$ 1,500,000		36,400,000	$ 6,900,000
Reimbursement from the FCC related to station repack | $					$ 19,416,000	$ 5,697,000		$ 33,603,000	$ 7,061,000
Consolidated VIEs [Member]
FCC Regulatory Matters [Line Items]
Number of full power stations repacked | TelevisionStation					17			17
Media General [Member]
FCC Regulatory Matters [Line Items]
Gross proceeds to surrender of spectrum auction | $		$ 478,600,000
Derecognition of spectrum asset to surrender spectrum | $							$ 34,600,000
Derecognition of spectrum liability to surrender spectrum | $							$ 34,600,000
Nexstar [Member]
FCC Regulatory Matters [Line Items]
Number of stations owned | TelevisionStation			10
Number of stations owned | TelevisionStation				1
Number of full power stations repacked | TelevisionStation					61			61

Commitments and Contingencies -

Commitments and Contingencies - Additional Information (Details) $ in Millions	Oct. 09, 2018	Jul. 30, 2018Complaint	Jun. 30, 2019USD ($)
Clay, Massey & Associates, PC [Member]
Loss Contingency, Information about Litigation Matters [Abstract]
Loss contingency lawsuit filing date		July 30, 2018
Number of antitrust class action complaint | Complaint		15
Clay, Massey & Associates, PC [Member] | Northern District of Illinois [Member]
Loss Contingency, Information about Litigation Matters [Abstract]
Loss contingency lawsuit filing date			April 3, 2019
Loss contingency dismissal date	Jun. 5, 2019
Nexstar [Member] | Financial Guarantee of Mission Debt [Member]
Guarantees of Mission, Marshall and Shield Debt [Abstract]
Maximum commitment under senior secured credit facility			$ 226.9
Commitment under senior secured credit facility at carrying value			$ 223.9
Line of credit facility maturity period			2024-01
Nexstar [Member] | Financial Guarantee of Marshall Debt [Member]
Guarantees of Mission, Marshall and Shield Debt [Abstract]
Commitment under senior secured credit facility at carrying value			$ 50
Line of credit facility maturity period			2019-12
Nexstar [Member] | Financial Guarantee Shield Debt [Member]
Guarantees of Mission, Marshall and Shield Debt [Abstract]
Commitment under senior secured credit facility at carrying value			$ 22.1
Line of credit facility maturity period			2023-10

Segment Data - Summary of Segme

Segment Data - Summary of Segment Financial Information (Details) - USD ($) $ in Thousands		3 Months Ended		6 Months Ended
		Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018	Dec. 31, 2018
Segment Reporting Information [Line Items]
Net revenue		$ 649,012	$ 660,323	$ 1,275,659	$ 1,275,659
Depreciation		28,090	25,090	55,527	50,904
Amortization of intangible assets		36,357	37,181	73,095	73,483
Income (loss) from operations		149,944	174,494	277,018	292,110
Goodwill		2,166,410		2,166,410		$ 2,167,954
Total assets	[1]	7,031,535		7,031,535		7,062,030
Broadcast [Member]
Segment Reporting Information [Line Items]
Net revenue		621,895	622,888	1,221,078	1,199,873
Depreciation		25,422	20,961	49,049	42,361
Amortization of intangible assets		30,770	31,876	61,615	63,929
Income (loss) from operations		192,093	207,543	360,593	360,110
Goodwill		2,123,935		2,123,935		2,125,479
Total assets		6,673,782		6,673,782		6,622,604
Other [Member]
Segment Reporting Information [Line Items]
Net revenue		27,117	37,435	54,581	75,786
Depreciation		2,668	4,129	6,478	8,543
Amortization of intangible assets		5,587	5,305	11,480	9,554
Income (loss) from operations		(42,149)	$ (33,049)	(83,575)	$ (68,000)
Goodwill		42,475		42,475		42,475
Total assets		$ 357,753		$ 357,753		$ 439,426
[1]	The consolidated total assets as of June 30, 2019 and December 31, 2018 include certain assets held by consolidated variable interest entities of $395.2 million and $390.3 million, respectively, which are not available to be used to settle the obligations of Nexstar Media Group, Inc. The consolidated total liabilities as of June 30, 2019 and December 31, 2018 include certain liabilities of consolidated variable interest entities of $55.9 million and $45.1 million, respectively, for which the creditors of the VIEs have no recourse to the general credit of Nexstar. See Note 2 for additional information.

Segment Data - Summary of Disag

Segment Data - Summary of Disaggregation of Revenue (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018
Disaggregation Of Revenue [Line Items]
Net revenue	$ 649,012	$ 660,323	$ 1,275,659	$ 1,275,659
Broadcast [Member]
Disaggregation Of Revenue [Line Items]
Net revenue	621,895	622,888	1,221,078	1,199,873
Other [Member]
Disaggregation Of Revenue [Line Items]
Net revenue	27,117	37,435	54,581	75,786
Local [Member]
Disaggregation Of Revenue [Line Items]
Net revenue	199,279	198,560	387,445	391,828
Local [Member] | Broadcast [Member]
Disaggregation Of Revenue [Line Items]
Net revenue	199,279	198,560	387,445	391,828
National [Member]
Disaggregation Of Revenue [Line Items]
Net revenue	68,332	71,633	132,010	138,678
National [Member] | Broadcast [Member]
Disaggregation Of Revenue [Line Items]
Net revenue	68,332	71,633	132,010	138,678
Political [Member]
Disaggregation Of Revenue [Line Items]
Net revenue	3,157	31,636	4,464	40,902
Political [Member] | Broadcast [Member]
Disaggregation Of Revenue [Line Items]
Net revenue	3,157	31,636	4,464	40,902
Retransmission Compensation {Member]
Disaggregation Of Revenue [Line Items]
Net revenue	314,268	276,273	628,242	552,214
Retransmission Compensation {Member] | Broadcast [Member]
Disaggregation Of Revenue [Line Items]
Net revenue	314,268	276,273	628,242	552,214
Digital [Member]
Disaggregation Of Revenue [Line Items]
Net revenue	56,237	63,999	109,072	126,803
Digital [Member] | Broadcast [Member]
Disaggregation Of Revenue [Line Items]
Net revenue	29,135	26,578	54,521	51,046
Digital [Member] | Other [Member]
Disaggregation Of Revenue [Line Items]
Net revenue	27,102	37,421	54,551	75,757
Other [Member]
Disaggregation Of Revenue [Line Items]
Net revenue	3,625	14,205	7,489	18,374
Other [Member] | Broadcast [Member]
Disaggregation Of Revenue [Line Items]
Net revenue	3,610	14,191	7,459	18,345
Other [Member] | Other [Member]
Disaggregation Of Revenue [Line Items]
Net revenue	15	14	30	29
Trade Revenue [Member]
Disaggregation Of Revenue [Line Items]
Net revenue	4,114	4,017	6,937	6,860
Trade Revenue [Member] | Broadcast [Member]
Disaggregation Of Revenue [Line Items]
Net revenue	$ 4,114	$ 4,017	$ 6,937	$ 6,860

Condensed Consolidating Finan_3

Condensed Consolidating Financial Information - Additional Information (Details)	Jun. 30, 2019
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 Finan_4

Condensed Consolidating Financial Information - Condensed Consolidated Balance Sheets (Details) - USD ($) $ in Thousands		Jun. 30, 2019	Dec. 31, 2018
Current assets:
Cash and cash equivalents		$ 79,924	$ 145,115
Accounts receivable, net		542,610	547,285
Spectrum asset		118,969	52,002
Other current assets		34,445	22,673
Total current assets		775,948	767,075
Property and equipment, net		748,647	731,538
Goodwill		2,166,410	2,167,954
FCC licenses		1,778,268	1,778,268
Other intangible assets, net		1,396,858	1,491,923
Other noncurrent assets		165,404	125,272
Total assets	[1]	7,031,535	7,062,030
Current liabilities:
Current portion of debt		94,940	96,093
Accounts payable		70,392	67,828
Liability to surrender spectrum asset		129,964	52,002
Other current liabilities		198,751	188,249
Total current liabilities		494,047	404,172
Debt		3,689,778	3,884,910
Deferred tax liabilities		642,525	633,880
Other noncurrent liabilities		246,968	270,084
Total liabilities	[1]	5,073,318	5,193,046
Total Nexstar Media Group, Inc. stockholders' equity (deficit)		1,943,779	1,852,774
Noncontrolling interests in consolidated variable interest entities		14,438	16,210
Total liabilities and stockholders' equity		7,031,535	7,062,030
Eliminations [Member]
Current assets:
Amounts due from consolidated entities		(154,774)	(166,508)
Total current assets		(154,774)	(166,508)
Investments in subsidiaries		(1,363,522)	(1,228,489)
Amounts due from consolidated entities		(747,610)	(782,365)
Property and equipment, net		(75)	(72)
Total assets		(2,265,981)	(2,177,434)
Current liabilities:
Amounts due to consolidated entities		(154,774)	(166,508)
Total current liabilities		(154,774)	(166,508)
Amounts due to consolidated entities		(747,820)	(782,576)
Total liabilities		(902,594)	(949,084)
Total Nexstar Media Group, Inc. stockholders' equity (deficit)		(1,363,387)	(1,228,350)
Total liabilities and stockholders' equity		(2,265,981)	(2,177,434)
Nexstar [Member] | Reportable Legal Entities [Member]
Current assets:
Investments in subsidiaries		1,254,638	1,119,605
Amounts due from consolidated entities		747,610	782,365
Other noncurrent assets		725
Total assets		2,002,973	1,901,970
Current liabilities:
Other current liabilities		258	299
Total current liabilities		258	299
Deferred tax liabilities			62
Total liabilities		258	361
Total Nexstar Media Group, Inc. stockholders' equity (deficit)		2,002,715	1,901,609
Total liabilities and stockholders' equity		2,002,973	1,901,970
Nexstar Broadcasting [Member] | Reportable Legal Entities [Member]
Current assets:
Cash and cash equivalents		51,415	105,665
Accounts receivable, net		477,869	466,270
Amounts due from consolidated entities		85,500	88,987
Spectrum asset		118,969	52,002
Other current assets		30,961	17,420
Total current assets		764,714	730,344
Investments in subsidiaries		108,884	108,884
Property and equipment, net		707,551	696,910
Goodwill		1,969,148	1,970,692
FCC licenses		1,626,460	1,620,610
Other intangible assets, net		1,283,949	1,365,159
Other noncurrent assets		136,108	116,660
Total assets		6,596,814	6,609,259
Current liabilities:
Current portion of debt		41,477	41,477
Accounts payable		55,764	47,574
Liability to surrender spectrum asset		129,964	52,002
Other current liabilities		163,542	155,023
Total current liabilities		390,747	296,076
Debt		3,447,326	3,641,193
Amounts due to consolidated entities		522,075	559,057
Deferred tax liabilities		634,624	624,869
Other noncurrent liabilities		217,855	255,228
Total liabilities		5,212,627	5,376,423
Total Nexstar Media Group, Inc. stockholders' equity (deficit)		1,384,187	1,232,836
Total liabilities and stockholders' equity		6,596,814	6,609,259
Mission [Member] | Reportable Legal Entities [Member]
Current assets:
Cash and cash equivalents		8,970	10,798
Accounts receivable, net		14,236	12,857
Amounts due from consolidated entities		69,274	77,521
Other current assets		621	1,655
Total current assets		93,101	102,831
Property and equipment, net		22,167	19,867
Goodwill		33,187	33,187
FCC licenses		43,102	43,102
Other intangible assets, net		12,701	13,712
Other noncurrent assets		11,996	4,421
Total assets		216,254	217,120
Current liabilities:
Current portion of debt		2,285	2,285
Accounts payable		1,386	2,357
Other current liabilities		6,766	4,441
Total current liabilities		10,437	9,083
Debt		221,560	222,354
Other noncurrent liabilities		10,842	6,820
Total liabilities		242,839	238,257
Total Nexstar Media Group, Inc. stockholders' equity (deficit)		(26,585)	(21,137)
Total liabilities and stockholders' equity		216,254	217,120
Non-Guarantors [Member] | Reportable Legal Entities [Member]
Current assets:
Cash and cash equivalents		19,539	28,652
Accounts receivable, net		50,505	68,158
Other current assets		2,863	3,598
Total current assets		72,907	100,408
Property and equipment, net		19,004	14,833
Goodwill		164,075	164,075
FCC licenses		108,706	114,556
Other intangible assets, net		100,208	113,052
Other noncurrent assets		16,575	4,191
Total assets		481,475	511,115
Current liabilities:
Current portion of debt		51,178	52,331
Accounts payable		13,242	17,897
Amounts due to consolidated entities		154,774	166,508
Other current liabilities		28,185	28,486
Total current liabilities		247,379	265,222
Debt		20,892	21,363
Amounts due to consolidated entities		225,745	223,519
Deferred tax liabilities		7,901	8,949
Other noncurrent liabilities		18,271	8,036
Total liabilities		520,188	527,089
Total Nexstar Media Group, Inc. stockholders' equity (deficit)		(53,151)	(32,184)
Noncontrolling interests in consolidated variable interest entities		14,438	16,210
Total liabilities and stockholders' equity		$ 481,475	$ 511,115
[1]	The consolidated total assets as of June 30, 2019 and December 31, 2018 include certain assets held by consolidated variable interest entities of $395.2 million and $390.3 million, respectively, which are not available to be used to settle the obligations of Nexstar Media Group, Inc. The consolidated total liabilities as of June 30, 2019 and December 31, 2018 include certain liabilities of consolidated variable interest entities of $55.9 million and $45.1 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 Finan_5

Condensed Consolidating Financial Information - Condensed Consolidated Statements of Operations (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS [Abstract]
Net revenue	$ 649,012	$ 660,323	$ 1,275,659	$ 1,275,659
Operating expenses (income):
Direct operating expenses, excluding depreciation and amortization	296,044	274,439	588,907	553,402
Selling, general, and administrative expenses, excluding depreciation and amortization	144,058	138,903	286,418	280,808
Amortization of broadcast rights	13,935	15,913	28,297	32,013
Amortization of intangible assets	36,357	37,181	73,095	73,483
Depreciation	28,090	25,090	55,527	50,904
Reimbursement from the FCC related to station repack	(19,416)	(5,697)	(33,603)	(7,061)
Total operating expenses	499,068	485,829	998,641	983,549
Income from operations	149,944	174,494	277,018	292,110
Interest expense, net	(51,363)	(56,281)	(104,320)	(110,870)
Loss on extinguishment of debt	(2,026)	(481)	(3,724)	(1,486)
Pension and other postretirement plans credit, net	1,400	2,950	2,800	5,900
Other expenses	(574)	(812)	(1,065)	(939)
Income (loss) before income taxes	97,381	119,870	170,709	184,715
Income tax benefit (expense)	(26,646)	(33,264)	(43,087)	(50,768)
Net income (loss)	70,735	86,606	127,622	133,947
Net (income) loss attributable to noncontrolling interests	(2,733)	1,126	(4,728)	1,907
Net income attributable to Nexstar Media Group, Inc.	68,002	87,732	122,894	135,854
Eliminations [Member]
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS [Abstract]
Net revenue	(58,530)	(63,149)	(114,660)	(108,538)
Revenue between consolidated entities	(58,530)	(63,149)	(114,660)	(108,538)
Operating expenses (income):
Direct operating expenses, excluding depreciation and amortization	(1,967)	(1,310)	(3,834)	(2,664)
Selling, general, and administrative expenses, excluding depreciation and amortization	(17,291)	(21,422)	(32,966)	(28,224)
Local service agreement fees between consolidated entities	(39,272)	(40,417)	(77,860)	(77,650)
Total operating expenses	(58,530)	(63,149)	(114,660)	(108,538)
Equity in income of subsidiaries	(74,274)	(94,171)	(135,032)	(146,203)
Income (loss) before income taxes	(74,274)	(94,171)	(135,032)	(146,203)
Net income (loss)	(74,274)	(94,171)	(135,032)	(146,203)
Net income attributable to Nexstar Media Group, Inc.	(74,274)	(94,171)	(135,032)	(146,203)
Net Broadcast Revenue (Including Trade) [Member]
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS [Abstract]
Net revenue	649,012	660,323	1,275,659	1,275,659
Nexstar [Member] | Reportable Legal Entities [Member]
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS [Abstract]
Net revenue	8,564	13,205	16,982	13,205
Revenue between consolidated entities	8,564	13,205	16,982	13,205
Operating expenses (income):
Selling, general, and administrative expenses, excluding depreciation and amortization	9,745	15,181	19,493	15,181
Total operating expenses	9,745	15,181	19,493	15,181
Income from operations	(1,181)	(1,976)	(2,511)	(1,976)
Equity in income of subsidiaries	74,274	94,171	135,032	146,203
Income (loss) before income taxes	73,093	92,195	132,521	144,227
Income tax benefit (expense)	161	(423)	473	(423)
Net income (loss)	73,254	91,772	132,994	143,804
Net income attributable to Nexstar Media Group, Inc.	73,254	91,772	132,994	143,804
Nexstar Broadcasting [Member] | Reportable Legal Entities [Member]
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS [Abstract]
Net revenue	613,403	616,503	1,203,416	1,186,440
Revenue between consolidated entities	22,425	22,447	44,658	42,703
Operating expenses (income):
Direct operating expenses, excluding depreciation and amortization	240,974	218,740	481,169	439,919
Selling, general, and administrative expenses, excluding depreciation and amortization	140,732	133,087	278,001	269,272
Local service agreement fees between consolidated entities	16,848	17,971	33,202	34,947
Amortization of broadcast rights	12,936	14,797	26,287	29,792
Amortization of intangible assets	28,615	29,674	57,278	59,519
Depreciation	26,678	22,885	51,905	46,346
Reimbursement from the FCC related to station repack	(14,546)	(5,510)	(24,231)	(6,874)
Total operating expenses	452,237	431,644	903,611	872,921
Income from operations	161,166	184,859	299,805	313,519
Interest expense, net	(47,640)	(52,539)	(96,848)	(103,573)
Loss on extinguishment of debt	(2,026)	(481)	(3,724)	(1,486)
Pension and other postretirement plans credit, net	1,400	2,950	2,800	5,900
Other expenses	(562)	(812)	(1,037)	(941)
Income (loss) before income taxes	112,338	133,977	200,996	213,419
Income tax benefit (expense)	(29,826)	(34,455)	(49,648)	(54,905)
Net income (loss)	82,512	99,522	151,348	158,514
Net income attributable to Nexstar Media Group, Inc.	82,512	99,522	151,348	158,514
Nexstar Broadcasting [Member] | Net Broadcast Revenue (Including Trade) [Member] | Reportable Legal Entities [Member]
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS [Abstract]
Net revenue	590,978	594,056	1,158,758	1,143,737
Mission [Member] | Reportable Legal Entities [Member]
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS [Abstract]
Net revenue	27,172	26,664	54,341	51,249
Revenue between consolidated entities	8,262	9,058	16,024	17,486
Operating expenses (income):
Direct operating expenses, excluding depreciation and amortization	11,995	10,013	24,031	20,160
Selling, general, and administrative expenses, excluding depreciation and amortization	998	1,112	1,989	2,328
Local service agreement fees between consolidated entities	14,575	13,250	29,150	26,500
Amortization of broadcast rights	369	409	752	821
Amortization of intangible assets	491	540	1,010	1,084
Depreciation	620	504	1,228	1,021
Reimbursement from the FCC related to station repack	(764)	(187)	(2,300)	(187)
Total operating expenses	28,284	25,641	55,860	51,727
Income from operations	(1,112)	1,023	(1,519)	(478)
Interest expense, net	(2,898)	(2,739)	(5,784)	(5,350)
Income (loss) before income taxes	(4,010)	(1,716)	(7,303)	(5,828)
Income tax benefit (expense)	1,016	425	1,851	1,406
Net income (loss)	(2,994)	(1,291)	(5,452)	(4,422)
Net income attributable to Nexstar Media Group, Inc.	(2,994)	(1,291)	(5,452)	(4,422)
Mission [Member] | Net Broadcast Revenue (Including Trade) [Member] | Reportable Legal Entities [Member]
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS [Abstract]
Net revenue	18,910	17,606	38,317	33,763
Non-Guarantors [Member] | Reportable Legal Entities [Member]
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS [Abstract]
Net revenue	58,403	67,100	115,580	133,303
Revenue between consolidated entities	19,279	18,439	36,996	35,144
Operating expenses (income):
Direct operating expenses, excluding depreciation and amortization	45,042	46,996	87,541	95,987
Selling, general, and administrative expenses, excluding depreciation and amortization	9,874	10,945	19,901	22,251
Local service agreement fees between consolidated entities	7,849	9,196	15,508	16,203
Amortization of broadcast rights	630	707	1,258	1,400
Amortization of intangible assets	7,251	6,967	14,807	12,880
Depreciation	792	1,701	2,394	3,537
Reimbursement from the FCC related to station repack	(4,106)		(7,072)
Total operating expenses	67,332	76,512	134,337	152,258
Income from operations	(8,929)	(9,412)	(18,757)	(18,955)
Interest expense, net	(825)	(1,003)	(1,688)	(1,947)
Other expenses	(12)		(28)	2
Income (loss) before income taxes	(9,766)	(10,415)	(20,473)	(20,900)
Income tax benefit (expense)	2,003	1,189	4,237	3,154
Net income (loss)	(7,763)	(9,226)	(16,236)	(17,746)
Net (income) loss attributable to noncontrolling interests	(2,733)	1,126	(4,728)	1,907
Net income attributable to Nexstar Media Group, Inc.	(10,496)	(8,100)	(20,964)	(15,839)
Non-Guarantors [Member] | Net Broadcast Revenue (Including Trade) [Member] | Reportable Legal Entities [Member]
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS [Abstract]
Net revenue	$ 39,124	$ 48,661	$ 78,584	$ 98,159

Condensed Consolidating Finan_6

Condensed Consolidating Financial Information - Condensed Consolidating Statement of Cash Flows (Details) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS [Abstract]
Cash flows from operating activities	$ 236,400	$ 317,074
Cash flows from investing activities:
Purchases of property and equipment	(71,468)	(36,390)
Spectrum repack reimbursements from the FCC	33,603	7,061
Payments for acquisitions		(85,867)
Other investing activities	1,009	4,261
Net cash used in investing activities	(36,856)	(110,935)
Cash flows from financing activities:
Proceeds from long-term debt		95,759
Repayments of long-term debt	(203,608)	(176,916)
Payments for debt financing costs	(78)
Common stock dividends paid	(41,319)	(34,443)
Purchase of treasury stock		(50,524)
Purchase of noncontrolling interest from a consolidated variable interest entity	(6,393)
Cash paid for shares withheld for taxes	(9,813)	(4,716)
Other financing activities	(3,602)	(7,986)
Net cash used in financing activities	(264,735)	(174,110)
Net (decrease) increase in cash, cash equivalents and restricted cash	(65,191)	32,029
Cash, cash equivalents and restricted cash at beginning of period	145,115	115,652
Cash, cash equivalents and restricted cash at end of period	79,924	147,681
Nexstar [Member] | Reportable Legal Entities [Member]
Cash flows from financing activities:
Common stock dividends paid	(41,319)	(34,443)
Purchase of treasury stock		(50,524)
Inter-company payments	49,649	87,624
Cash paid for shares withheld for taxes	(9,813)
Other financing activities	1,483	(2,657)
Nexstar Broadcasting [Member] | Reportable Legal Entities [Member]
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS [Abstract]
Cash flows from operating activities	240,814	313,735
Cash flows from investing activities:
Purchases of property and equipment	(60,002)	(32,198)
Spectrum repack reimbursements from the FCC	25,767	6,875
Payments for acquisitions		(85,867)
Other investing activities	995	4,256
Net cash used in investing activities	(33,240)	(106,934)
Cash flows from financing activities:
Proceeds from long-term debt		44,000
Repayments of long-term debt	(200,738)	(122,120)
Inter-company payments	(49,649)	(87,624)
Purchase of noncontrolling interest from a consolidated variable interest entity	(6,393)
Other financing activities	(5,044)	(5,555)
Net cash used in financing activities	(261,824)	(171,299)
Net (decrease) increase in cash, cash equivalents and restricted cash	(54,250)	35,502
Cash, cash equivalents and restricted cash at beginning of period	105,665	90,860
Cash, cash equivalents and restricted cash at end of period	51,415	126,362
Mission [Member] | Reportable Legal Entities [Member]
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS [Abstract]
Cash flows from operating activities	1,507	(1,484)
Cash flows from investing activities:
Purchases of property and equipment	(2,956)	(512)
Spectrum repack reimbursements from the FCC	764	186
Net cash used in investing activities	(2,192)	(326)
Cash flows from financing activities:
Repayments of long-term debt	(1,143)	(1,157)
Net cash used in financing activities	(1,143)	(1,157)
Net (decrease) increase in cash, cash equivalents and restricted cash	(1,828)	(2,967)
Cash, cash equivalents and restricted cash at beginning of period	10,798	9,524
Cash, cash equivalents and restricted cash at end of period	8,970	6,557
Non-Guarantors [Member] | Reportable Legal Entities [Member]
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS [Abstract]
Cash flows from operating activities	(5,921)	4,823
Cash flows from investing activities:
Purchases of property and equipment	(8,510)	(3,680)
Spectrum repack reimbursements from the FCC	7,072
Other investing activities	14	5
Net cash used in investing activities	(1,424)	(3,675)
Cash flows from financing activities:
Proceeds from long-term debt		51,759
Repayments of long-term debt	(1,727)	(53,639)
Other financing activities	(41)	226
Net cash used in financing activities	(1,768)	(1,654)
Net (decrease) increase in cash, cash equivalents and restricted cash	(9,113)	(506)
Cash, cash equivalents and restricted cash at beginning of period	28,652	15,268
Cash, cash equivalents and restricted cash at end of period	$ 19,539	$ 14,762

Subsequent Events - Additional

Subsequent Events - Additional Information (Details) - USD ($) $ / shares in Units, $ in Millions	Jul. 25, 2019	Jul. 03, 2019	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018	Dec. 31, 2018
Subsequent Event [Line Items]
Dividends declared per common share			$ 0.45	$ 0.375	$ 0.90	$ 0.75
Subsequent Event [Member] | Class A Common Stock [Member]
Subsequent Event [Line Items]
Dividends declared per common share	$ 0.45
Dividends, date declared	Jul. 25, 2019
Dividends, date payable	Aug. 23, 2019
Dividends, date of record	Aug. 9, 2019
6.125% Due 2022 [Member]
Subsequent Event [Line Items]
Interest rate			6.125%		6.125%
5.625 % Due 2024 [Member]
Subsequent Event [Line Items]
Interest rate			5.625%		5.625%
Senior Subordinated Notes [Member] | 5.625 % Due 2027 [Member] | Nexstar Escrow Corporation [Member] | Subsequent Event [Member]
Subsequent Event [Line Items]
Debt issuance		$ 1,120
Interest rate		5.625%
Debt redemption percentage upon termination of merger agreement		100.00%
Senior Subordinated Notes [Member] | 6.125% Due 2022 [Member]
Subsequent Event [Line Items]
Interest rate			6.125%		6.125%		6.125%
Senior Subordinated Notes [Member] | 5.875% Due 2022 [Member]
Subsequent Event [Line Items]
Interest rate			5.875%		5.875%		5.875%
Senior Subordinated Notes [Member] | 5.625 % Due 2024 [Member]
Subsequent Event [Line Items]
Interest rate			5.625%		5.625%		5.625%