Nexstar Media Group, Inc. (NXST) Q3 2020 Earnings Call Transcript @themotleyfool #stocks $NXST

We’re accelerated — we have accelerated our repurchase activity and will benefit from the organizational structure changes we announced last month. Finally, our service to our local communities and the local and national advertisers has never been stronger. We continue to drive significant growth and have consistently and healthy — and healthy — have consistent and healthy visibility into our results. And we remain confident in our ability to enhance shareholder value going forward.

That concludes the financial review for the call, and I’ll turn it back over to Perry for some closing remarks before Q&A.

Perry A. SookChairman and Chief Executive Officer

Thank you very much, Tom. Our results in 2020 and our comments today highlight the actions we continue to take to drive shareholder value. While maximizing shareholder value is a key focus for our management team, supporting our local communities is the ultimate goal of the thousands of Nexstar Nation employees who work across our portfolio. With election day now behind us, I want to close by briefly highlighting some of our employees essential work. Our core value of serving our communities with the local news and critical information they need has allowed us to successfully navigate through the evolving pandemic. In this regard, Nexstar has produced year-to-date 77 separate town hall meetings addressing the state and regional responses to the virus. Additionally, Nexstar stations have produced 34 different specials related to recent civil unrest and race relations in our country. As the nation prepared for this year’s election, Nexstar produced 117 debates in markets across the country, covering gubernatorial, Senate and local races, allowing the voters to hear directly from the candidates seeking their support.

Last month, Nexstar’s local news operations earned a total of four National Edward R. Murrow Awards, including a National Award for the exclusive series of special cross-platform stories about immigration and everyday life along the border of the United States and Mexico. And earlier in the year, 30 Nexstar stations received a total of 50 regional Murrow Awards. Nexstar is also proud to be honored with 61 Emmy Awards in 2020. And finally, in October, Nexstar received the 2020 Catalyst award which recognizes a communications company that creates strategic programs to advance meaningful social change. We look forward to catching up with you with another positive report in February, highlighting our Q4 results. And on behalf of the entire Nexstar Nation, our Board and our management team thank you for your continued interest, support and for joining us today.

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