20-quarter listed-company comparison

Broadcasting Stocks

Broadcasting: Nexstar Media Group, Inc. owns the largest revenue base; CuriosityStream Inc. has the fastest current growth.

The industry itself · before any single company

How has Broadcasting moved against S&P 500?

The line below covers 5.2 years. Over the most recent two of them this industry is 32% behind S&P 500. Earnings across its companies fell 26% on average over the last four reported quarters.

ASLEEP · 1y −24.5%~Price down, no fundamental support1 of 8 companies ahead of S&P 500 by 5% or more over three months

RS — · 1/8 >200d (−2) · 1/8 lead (−1) · EPS 3/8↑

Broadcasting, equal-weighted, based at 200 S&P 500, same base, same start trailing 12-month earnings per share rising falling

Strength anatomy NarrowHow much of the industry is participating, how recently, and whether the movers score well.

Together1 of 8 stocks moving

Fresh0 crossed in the last 4 weeks

Backed by scoresmovers score +7 vs the industry average

Down the cap ladder — bar is now, tick is four weeks ago

Large 1/20

Mid 0/3−1

Small 0/30

Participation is not spreading downward this month; the larger companies are still carrying most of it.

Both lines start at 200 in the same week, so the distance between them is the whole story: the industry line is an equal-weighted index of its 8 companies. The bars underneath are trailing 12-month earnings per share, one bar per reported quarter, each member rebased to 100 at the start and the industry taking the median — so a price line pulling away from flat bars is a re-rating, not earnings. A bar turns red when that figure is lower than the quarter before. Rules are fixed and applied identically everywhere on this site: ahead by 5% or more over three months, or behind by 20% or more over a year while earnings grew 20% or more. Hover any point to read both values and the gap. This is a description of what the numbers did, not advice.

Sector relative strength · before individual stocks

Is Broadcasting outperforming S&P 500?

Broadcasting has outperformed S&P 500 by 1% over the last 52 weeks. Over 13 weeks the gap is a lead of 11%. 0 of 9 covered companies currently beat the S&P 500 on Mansfield relative strength, so leadership inside the sector is selective. iHeartMedia, Inc. is the strongest against the sector itself at -12.8%.

+11.0%Sector vs S&P 500 · 13 weeks

+1.0%Sector vs S&P 500 · 52 weeks

0/9Stocks leading S&P 500

0/9Stocks leading sector

Sector metric: — as of latest available · unclassified · direction unavailable.

The central tension: the companies with the most scale are not necessarily the companies creating the most change.

Start with scale. Then earnings trajectory. Then business quality. Only after those three agree should price leadership carry much weight.

Bottom line

Broadcasting has outperformed S&P 500 by 1% over 52 weeks and 11% over 13 weeks. 0 of 9 covered companies beat the S&P 500 on Mansfield relative strength, while 0 of 9 beat the sector itself. Nexstar Media Group, Inc. leads with revenue of $5,112 million, based on 10 of 11 comparable companies through Mar 2026.

Is the Broadcasting sector outperforming S&P 500?

Broadcasting has outperformed S&P 500 by 1% over 52 weeks and 11% over 13 weeks. 0 of 9 covered companies beat the S&P 500 on Mansfield relative strength, while 0 of 9 beat the sector itself.

Which Broadcasting company is largest by revenue?

Nexstar Media Group, Inc. leads with revenue of $5,112 million, based on 10 of 11 comparable companies through Mar 2026.

Which Broadcasting company is growing fastest?

CuriosityStream Inc. has the fastest current revenue growth at 31.5%, across 9 of 11 comparable companies.

Which Broadcasting company has the strongest 4-Factor Sector Score?

Newsmax Inc. ranks first at 52.2/100 with 58.7% evidence confidence. The score prioritizes research; it is not a buy recommendation.

Which Broadcasting company reports the most CAPEX?

iHeartMedia, Inc. reports the largest latest CAPEX at $22 million, with 10 of 11 companies comparable.

Which Broadcasting company has the least gross debt?

CuriosityStream Inc. has the lowest comparable gross debt at $3 million. Nexstar Media Group, Inc. has the highest at $12,204 million.

Which Broadcasting company has the lowest comparable PEG?

Nexstar Media Group, Inc. has the lowest comparable Guarded PEG at 0.17, among 1 of 11 companies that pass the metric’s comparability rules.

How much history does this Broadcasting comparison include?

The page compares up to 20 reported quarters per company for fundamentals, CAPEX, debt and valuation, ending Mar 2026. Missing observations remain blank rather than being estimated.

How is the 4-Factor Sector Score calculated?

The four visible contributions add directly: growth and earnings up to 35 points, capital efficiency up to 25, valuation up to 20, and relative strength up to 20. Missing or stale evidence moves only the affected contribution toward neutral.

Companies

complete canonical membership

Combined market value

$10.1B

Nexstar Media Group, Inc.

Revenue growing

4/9

positive TTM year-on-year growth

Beating S&P 500

0/9

positive Mansfield relative strength

Global company selection

00 · research priority, made explicit

4-Factor Sector Score

An additive sector-relative research score. The four displayed point contributions always equal the total: Growth & earnings (35), Capital efficiency (25), Valuation (20), and Relative strength (20). Missing or stale evidence is absorbed inside the affected factor, never applied as a hidden adjustment.

Growth & earnings · 35%Capital efficiency · 25%Valuation · 20%Relative strength · 20%

Newsmax Inc. has the strongest current balance of earnings trajectory, business quality, valuation and price confirmation, with 58.7% evidence confidence.

Nexstar Media Group, Inc. looks inexpensive relative to peers or its own history, but its earnings trajectory has not yet earned the valuation signal.

Missing observations are not scored as bad. Their missing weight lowers confidence and pulls the final score toward neutral. PEG is guarded: positive earnings, positive 5–60% three-year EPS growth, and a positive P/E are required.

1. Newsmax Inc. · NMAX

52.2/100 · Thin evidence · provisional · 59% evidence

Exact sum: 24.4 + 9.1 + 10 + 8.7 = 52.2

Decision use: Fill the missing evidence before acting; the ranking is deliberately pulled toward neutral.

24.4/35Growth & earnings

Revenue 10.8% · PAT — · OPM change 16.8 pp

71% evidence

9.1/25Capital efficiency

ROCE -2.6% · debt/equity 0.07×

80% evidence

10.0/20Valuation

P/E — · PEG —

0% evidence

8.7/20Relative strength

RS sector -18.7% · RS bench -15.2% · 1Y -38.6%

70% evidence

2. FuboTV Inc. · FUBO

47.1/100 · Thin evidence · provisional · 59% evidence

Exact sum: 23.4 + 9.2 + 11.5 + 3 = 47.1

Decision use: Fill the missing evidence before acting; the ranking is deliberately pulled toward neutral.

23.4/35Growth & earnings

Revenue 19.1% · PAT — · OPM change 2.2 pp

62% evidence

9.2/25Capital efficiency

ROCE -1.2% · debt/equity 0.16×

80% evidence

11.5/20Valuation

P/E 5.6× · PEG —

15% evidence

3.0/20Relative strength

RS sector -68.7% · RS bench -68.2% · 1Y -80%

70% evidence

3. Nexstar Media Group, Inc. · NXST

46.7/100 · Mixed-negative evidence · 86% evidence

Exact sum: 13.2 + 13.2 + 13.5 + 6.8 = 46.7

Decision use: Cheap but unconfirmed: require improving earnings before treating the valuation as an opportunity.

13.2/35Growth & earnings

Revenue -4.6% · PAT -76.2% · OPM change 1.2 pp

95% evidence

13.2/25Capital efficiency

ROCE 1.9% · debt/equity 5.57×

80% evidence

13.5/20Valuation

P/E 38.8× · PEG 0.17

65% evidence

6.8/20Relative strength

RS sector -14.4% · RS bench -10.1% · 1Y 5%

100% evidence

4. Sinclair, Inc. · SBGI

46.0/100 · Mixed-negative evidence · 62% evidence

Exact sum: 17.8 + 8.2 + 9 + 11 = 46

Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.

17.8/35Growth & earnings

Revenue -9.3% · PAT -55.4% · OPM change 1.5 pp

71% evidence

8.2/25Capital efficiency

ROCE 0.5% · debt/equity 11.52×

80% evidence

9.0/20Valuation

P/E 14.4× · PEG —

15% evidence

11.0/20Relative strength

RS sector -13.6% · RS bench -9.3% · 1Y 0.1%

70% evidence

5. iHeartMedia, Inc. · IHRT

44.8/100 · Mixed-negative evidence · 68% evidence

Exact sum: 20.5 + 5.7 + 9.5 + 9.1 = 44.8

Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.

20.5/35Growth & earnings

Revenue 2.1% · PAT — · OPM change 3.4 pp

71% evidence

5.7/25Capital efficiency

ROCE 0% · debt/equity 13.35×

80% evidence

9.5/20Valuation

P/E 14.3× · PEG —

15% evidence

9.1/20Relative strength

RS sector -12.8% · RS bench -7.6% · 1Y 96.1%

100% evidence

6. The E.W. Scripps Company · SSP

41.2/100 · Mixed-negative evidence · 62% evidence

Exact sum: 13.3 + 9.3 + 11 + 7.6 = 41.2

Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.

13.3/35Growth & earnings

Revenue -13.3% · PAT -170.9% · OPM change -0.4 pp

71% evidence

9.3/25Capital efficiency

ROCE 0.5% · debt/equity 2.11×

80% evidence

11.0/20Valuation

P/E 6.1× · PEG —

15% evidence

7.6/20Relative strength

RS sector -20.9% · RS bench -16.7% · 1Y 6.2%

70% evidence

7. CuriosityStream Inc. · CURI

37.5/100 · Thin evidence · provisional · 59% evidence

Exact sum: 13.9 + 8.3 + 10 + 5.3 = 37.5

Decision use: Fill the missing evidence before acting; the ranking is deliberately pulled toward neutral.

13.9/35Growth & earnings

Revenue 31.5% · PAT — · OPM change -10.7 pp

71% evidence

8.3/25Capital efficiency

ROCE -3% · debt/equity 0.08×

80% evidence

10.0/20Valuation

P/E — · PEG —

0% evidence

5.3/20Relative strength

RS sector -40.7% · RS bench -38.4% · 1Y -48.1%

70% evidence

8. Gray Media, Inc. · GTN-A

37.2/100 · Mixed-negative evidence · 62% evidence

Exact sum: 11.8 + 11.3 + 10 + 4.1 = 37.2

Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.

11.8/35Growth & earnings

Revenue -14.5% · PAT -134.5% · OPM change -1.3 pp

71% evidence

11.3/25Capital efficiency

ROCE 0.8% · debt/equity 2.1×

80% evidence

10.0/20Valuation

P/E 14.1× · PEG —

15% evidence

4.1/20Relative strength

RS sector -42.6% · RS bench -39.7% · 1Y -38.8%

70% evidence

9. TV Channels Network Inc. · TVCN

54.3/100 · Thin evidence · provisional · 9% evidence

Exact sum: 17.5 + 16.8 + 10 + 10 = 54.3

Decision use: Fill the missing evidence before acting; the ranking is deliberately pulled toward neutral.

17.5/35Growth & earnings

Revenue — · PAT — · OPM change —

0% evidence

16.8/25Capital efficiency

ROCE 94.5% · debt/equity —

34% evidence

10.0/20Valuation

P/E — · PEG —

0% evidence

10.0/20Relative strength

RS sector — · RS bench — · 1Y —

0% evidence

10. FreeCast, Inc. · CAST

52.1/100 · Thin evidence · provisional · 35% evidence

Exact sum: 17.1 + 15 + 10 + 10 = 52.1

Decision use: Fill the missing evidence before acting; the ranking is deliberately pulled toward neutral.

17.1/35Growth & earnings

Revenue — · PAT — · OPM change -2460.7 pp

52% evidence

15.0/25Capital efficiency

ROCE 77.9% · debt/equity 1.5×

68% evidence

10.0/20Valuation

P/E — · PEG —

0% evidence

10.0/20Relative strength

RS sector — · RS bench — · 1Y —

0% evidence

11. Urban One, Inc. · UONEK

41.0/100 · Thin evidence · provisional · 46% evidence

Exact sum: 13.3 + 10.8 + 10.5 + 6.4 = 41

Decision use: Fill the missing evidence before acting; the ranking is deliberately pulled toward neutral.

13.3/35Growth & earnings

Revenue -12.8% · PAT — · OPM change -12.7 pp

40% evidence

10.8/25Capital efficiency

ROCE 7.2% · debt/equity 6.44×

60% evidence

10.5/20Valuation

P/E 8.5× · PEG —

15% evidence

6.4/20Relative strength

RS sector -32.9% · RS bench -30.6% · 1Y -23.5%

70% evidence

01 · compare level, then change

Revenue Scale & Growth Durability

Nexstar Media Group, Inc. has the highest Revenue among the 11 Broadcasting companies compared here, at $5,112 million. iHeartMedia, Inc. is next at $3,942 million. CuriosityStream Inc. has the highest Revenue growth at 31.5%, so level and change sit with different companies. 10 of 11 companies report a comparable reading, the latest through Mar 2026.

What the numbers say: Nexstar Media Group, Inc. is the scale leader at $5,112 million, 29.7% ahead of iHeartMedia, Inc.. CuriosityStream Inc.'s growth is 31.5% from a $71 million base, with 20 reported observations in the 20-quarter window. Treat the growth leader as an acceleration candidate, not as equally proven scale.

LeaderNexstar Media Group, Inc. · $5,112 million

Gap29.7% versus #2 · iHeartMedia, Inc.

Persistence4/8 recent comparable periods

Coverage10/11 companies · 186 observations

Investor read: Nexstar Media Group, Inc. is the scale benchmark; CuriosityStream Inc. is the acceleration watch. Promote the challenger only if growth persists and converts into margin and returns.

This conclusion weakens if: Nexstar Media Group, Inc.'s growth falls below CuriosityStream Inc.'s for two consecutive comparable reports while operating margin also compresses.

Revenue is compared on a common reported-currency basis. Growth is year-on-year, so seasonality does not masquerade as progress.

Revenuelargest

1Nexstar Media Group, Inc. NXST$5.1B

2iHeartMedia, Inc. IHRT$3.9B

3Sinclair, Inc. SBGI$3.2B

4Gray Media, Inc. GTN-A$3.1B

5FuboTV Inc. FUBO$2.7B

Revenue growthfastest growers

1CuriosityStream Inc. CURI32%

2FuboTV Inc. FUBO19%

3Newsmax Inc. NMAX11%

4iHeartMedia, Inc. IHRT2.1%

5Nexstar Media Group, Inc. NXST-4.6%

Revenue · company comparison

10/11 level · 9/11 change

Solid lines show level; dotted lines show change when “Both” is selected. Missing reports break the line rather than being invented.

All-company data · latest reported quarter

Each figure is the company’s latest single reported quarter. The rankings above use trailing-twelve-month or current-market values, so a company can legitimately show a different number in each.

Company	Revenue	Revenue growth	Reported
FuboTV Inc. FUBO	$1.5B	40%	Dec 2025
Nexstar Media Group, Inc. NXST	$1.4B	13%	Mar 2026
iHeartMedia, Inc. IHRT	$884M	9.5%	Mar 2026
Sinclair, Inc. SBGI	$807M	4.0%	Mar 2026
Gray Media, Inc. GTN-A	$768M	-1.8%	Mar 2026
The E.W. Scripps Company SSP	$517M	-1.3%	Mar 2026
Urban One, Inc. UONEK	$93M	-15%	Sep 2025
Newsmax Inc. NMAX	$52M	16%	Mar 2026
CuriosityStream Inc. CURI	$15M	0.0%	Mar 2026
FreeCast, Inc. CAST	$0M	—	Mar 2026

Full 20-quarter history · every available company

Revenue · reported quarter history

CuriosityStream Inc. · CURI

Jun 2021$15M

Sep 2021$19M

Dec 2021$27M

Mar 2022$18M

Jun 2022$22M

Sep 2022$24M

Dec 2022$14M

Mar 2023$12M

Jun 2023$14M

Sep 2023$16M

Dec 2023$15M

Mar 2024$12M

Jun 2024$12M

Sep 2024$13M

Dec 2024$14M

Mar 2025$15M

Jun 2025$19M

Sep 2025$18M

Dec 2025$19M

Mar 2026$15M

FreeCast, Inc. · CAST

Jun 2021$0M

Sep 2021$0M

Dec 2021$0M

Mar 2022$0M

Jun 2022$0M

Sep 2022$0M

Dec 2022$0M

Mar 2023$0M

Jun 2023$0M

Sep 2023$0M

Dec 2023$0M

Mar 2024$0M

Jun 2024$0M

Sep 2024$0M

Dec 2024$0M

Mar 2025$0M

Jun 2025$0M

Sep 2025$0M

Dec 2025$0M

Mar 2026$0M

FuboTV Inc. · FUBO

Jun 2021$131M

Sep 2021$157M

Dec 2021$231M

Mar 2022$242M

Jun 2022$222M

Sep 2022$225M

Dec 2022$319M

Mar 2023$324M

Jun 2023$313M

Sep 2023$321M

Dec 2023$410M

Mar 2024$402M

Jun 2024$391M

Sep 2024$386M

Dec 2024$1.1B

Mar 2025$416M

Jun 2025$380M

Sep 2025$377M

Dec 2025$1.5B

Mar 2026—

Gray Media, Inc. · GTN-A

Jun 2021$547M

Sep 2021$601M

Dec 2021$721M

Mar 2022$827M

Jun 2022$868M

Sep 2022$909M

Dec 2022$1.1B

Mar 2023$801M

Jun 2023$813M

Sep 2023$803M

Dec 2023$864M

Mar 2024$823M

Jun 2024$826M

Sep 2024$950M

Dec 2024$1.0B

Mar 2025$782M

Jun 2025$772M

Sep 2025$749M

Dec 2025$792M

Mar 2026$768M

iHeartMedia, Inc. · IHRT

Jun 2021$862M

Sep 2021$928M

Dec 2021$1.1B

Mar 2022$843M

Jun 2022$954M

Sep 2022$989M

Dec 2022$1.1B

Mar 2023$811M

Jun 2023$920M

Sep 2023$953M

Dec 2023$1.1B

Mar 2024$799M

Jun 2024$929M

Sep 2024$1.0B

Dec 2024$1.1B

Mar 2025$807M

Jun 2025$934M

Sep 2025$997M

Dec 2025$1.1B

Mar 2026$884M

Newsmax Inc. · NMAX

Jun 2021—

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022—

Dec 2022—

Mar 2023—

Jun 2023—

Sep 2023—

Dec 2023—

Mar 2024$41M

Jun 2024$39M

Sep 2024$44M

Dec 2024$48M

Mar 2025$45M

Jun 2025$46M

Sep 2025$45M

Dec 2025$52M

Mar 2026$52M

Nexstar Media Group, Inc. · NXST

Jun 2021$1.1B

Sep 2021$1.2B

Dec 2021$1.2B

Mar 2022$1.2B

Jun 2022$1.2B

Sep 2022$1.3B

Dec 2022$1.5B

Mar 2023$1.3B

Jun 2023$1.2B

Sep 2023$1.1B

Dec 2023$1.3B

Mar 2024$1.3B

Jun 2024$1.3B

Sep 2024$1.4B

Dec 2024$1.5B

Mar 2025$1.2B

Jun 2025$1.2B

Sep 2025$1.2B

Dec 2025$1.3B

Mar 2026$1.4B

Sinclair, Inc. · SBGI

Jun 2021$1.6B

Sep 2021$1.5B

Dec 2021$1.5B

Mar 2022$1.3B

Jun 2022$837M

Sep 2022$843M

Dec 2022$960M

Mar 2023$773M

Jun 2023$768M

Sep 2023$767M

Dec 2023$826M

Mar 2024$798M

Jun 2024$829M

Sep 2024$917M

Dec 2024$1.0B

Mar 2025$776M

Jun 2025$784M

Sep 2025$773M

Dec 2025$836M

Mar 2026$807M

The E.W. Scripps Company · SSP

Jun 2021$565M

Sep 2021$555M

Dec 2021$622M

Mar 2022$566M

Jun 2022$594M

Sep 2022$612M

Dec 2022$681M

Mar 2023$528M

Jun 2023$583M

Sep 2023$567M

Dec 2023$616M

Mar 2024$561M

Jun 2024$574M

Sep 2024$646M

Dec 2024$728M

Mar 2025$524M

Jun 2025$540M

Sep 2025$526M

Dec 2025$560M

Mar 2026$517M

Urban One, Inc. · UONEK

Jun 2021$108M

Sep 2021$111M

Dec 2021$130M

Mar 2022$112M

Jun 2022$119M

Sep 2022$121M

Dec 2022$133M

Mar 2023$110M

Jun 2023$130M

Sep 2023$118M

Dec 2023$120M

Mar 2024$104M

Jun 2024$118M

Sep 2024$110M

Dec 2024$117M

Mar 2025$92M

Jun 2025$92M

Sep 2025$93M

Dec 2025—

Mar 2026—

Revenue growth · reported quarter history

CuriosityStream Inc. · CURI

Jun 2021—

Sep 2021—

Dec 2021—

Mar 2022—

Jun 202247%

Sep 202226%

Dec 2022-48%

Mar 2023-33%

Jun 2023-36%

Sep 2023-33%

Dec 20237.1%

Mar 20240.0%

Jun 2024-14%

Sep 2024-19%

Dec 2024-6.7%

Mar 202525%

Jun 202558%

Sep 202538%

Dec 202536%

Mar 20260.0%

FuboTV Inc. · FUBO

Jun 2021—

Sep 2021—

Dec 2021—

Mar 2022102%

Jun 202269%

Sep 202243%

Dec 202238%

Mar 202334%

Jun 202341%

Sep 202343%

Dec 202329%

Mar 202424%

Jun 202425%

Sep 202420%

Dec 2024170%

Mar 20253.5%

Jun 2025-2.8%

Sep 2025-2.3%

Dec 202540%

Mar 2026—

Gray Media, Inc. · GTN-A

Jun 2021—

Sep 2021—

Dec 2021—

Mar 2022—

Jun 202259%

Sep 202251%

Dec 202249%

Mar 2023-3.1%

Jun 2023-6.3%

Sep 2023-12%

Dec 2023-19%

Mar 20242.8%

Jun 20241.6%

Sep 202418%

Dec 202421%

Mar 2025-5.0%

Jun 2025-6.5%

Sep 2025-21%

Dec 2025-24%

Mar 2026-1.8%

iHeartMedia, Inc. · IHRT

Jun 2021—

Sep 2021—

Dec 2021—

Mar 2022—

Jun 202211%

Sep 20226.6%

Dec 20226.0%

Mar 2023-3.8%

Jun 2023-3.6%

Sep 2023-3.6%

Dec 2023-5.2%

Mar 2024-1.5%

Jun 20241.0%

Sep 20245.8%

Dec 20244.8%

Mar 20251.0%

Jun 20250.5%

Sep 2025-1.1%

Dec 20250.8%

Mar 20269.5%

Newsmax Inc. · NMAX

Jun 2021—

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022—

Dec 2022—

Mar 2023—

Jun 2023—

Sep 2023—

Dec 2023—

Mar 2024—

Jun 2024—

Sep 2024—

Dec 2024—

Mar 20259.8%

Jun 202518%

Sep 20252.3%

Dec 20258.3%

Mar 202616%

Nexstar Media Group, Inc. · NXST

Jun 2021—

Sep 2021—

Dec 2021—

Mar 2022—

Jun 202210.0%

Sep 20229.7%

Dec 202219%

Mar 20233.9%

Jun 2023-0.4%

Sep 2023-11%

Dec 2023-12%

Mar 20242.2%

Jun 20242.3%

Sep 202421%

Dec 202414%

Mar 2025-3.9%

Jun 2025-3.2%

Sep 2025-12%

Dec 2025-13%

Mar 202613%

Sinclair, Inc. · SBGI

Jun 2021—

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022-48%

Sep 2022-45%

Dec 2022-35%

Mar 2023-40%

Jun 2023-8.2%

Sep 2023-9.0%

Dec 2023-14%

Mar 20243.2%

Jun 20247.9%

Sep 202420%

Dec 202422%

Mar 2025-2.8%

Jun 2025-5.4%

Sep 2025-16%

Dec 2025-17%

Mar 20264.0%

The E.W. Scripps Company · SSP

Jun 2021—

Sep 2021—

Dec 2021—

Mar 2022—

Jun 20225.1%

Sep 202210%

Dec 20229.5%

Mar 2023-6.7%

Jun 2023-1.9%

Sep 2023-7.4%

Dec 2023-9.5%

Mar 20246.3%

Jun 2024-1.5%

Sep 202414%

Dec 202418%

Mar 2025-6.6%

Jun 2025-5.9%

Sep 2025-19%

Dec 2025-23%

Mar 2026-1.3%

Urban One, Inc. · UONEK

Jun 2021—

Sep 2021—

Dec 202114%

Mar 202223%

Jun 202210%

Sep 20229.0%

Dec 20222.3%

Mar 2023-1.8%

Jun 20239.2%

Sep 2023-2.5%

Dec 2023-9.8%

Mar 2024-5.5%

Jun 2024-9.2%

Sep 2024-6.8%

Dec 2024-2.5%

Mar 2025-12%

Jun 2025-22%

Sep 2025-15%

Dec 2025—

Mar 2026—

02 · compare level, then change

Operating Economics & Margin Trend

Nexstar Media Group, Inc. has the highest OPM among the 11 Broadcasting companies compared here, at 19%. Gray Media, Inc. is next at 10.5%. Newsmax Inc. has the highest Margin change at +16.8 percentage points, so level and change sit with different companies. 9 of 11 companies report a comparable reading, the latest through Mar 2026.

What the numbers say: Nexstar Media Group, Inc. leads opm at 19%; Newsmax Inc. leads margin change at +16.8 percentage points.

LeaderNexstar Media Group, Inc. · 19%

Gap81% versus #2 · Gray Media, Inc.

Persistence4/8 recent comparable periods

Coverage9/11 companies · 168 observations

Investor read: Nexstar Media Group, Inc. sets the level benchmark; use the change leader as an inflection watch only after another comparable report confirms it.

This conclusion weakens if: The next two comparable reports reverse the current margin change signal.

Operating margin compares operating profit with revenue. Improvement is measured in percentage points, not percentage growth.

OPMhighest

1Nexstar Media Group, Inc. NXST19%

2Gray Media, Inc. GTN-A11%

3Urban One, Inc. UONEK · older report6.0%

4The E.W. Scripps Company SSP4.8%

5Sinclair, Inc. SBGI3.3%

Margin changefastest expanders

1Newsmax Inc. NMAX+16.8 pp

2iHeartMedia, Inc. IHRT+3.4 pp

3FuboTV Inc. FUBO+2.2 pp

4Sinclair, Inc. SBGI+1.5 pp

5Nexstar Media Group, Inc. NXST+1.2 pp

Operating margin · company comparison

9/11 level · 10/11 change

Solid lines show level; dotted lines show change when “Both” is selected. Missing reports break the line rather than being invented.

All-company data · latest reported quarter

Each figure is the company’s latest single reported quarter. The rankings above use trailing-twelve-month or current-market values, so a company can legitimately show a different number in each.

Company	OPM	Margin change	Reported
Nexstar Media Group, Inc. NXST	19%	+1.2 pp	Mar 2026
Gray Media, Inc. GTN-A	11%	−1.3 pp	Mar 2026
Urban One, Inc. UONEK	6.0%	−12.7 pp	Sep 2025
The E.W. Scripps Company SSP	4.8%	−0.4 pp	Mar 2026
Sinclair, Inc. SBGI	3.3%	+1.5 pp	Mar 2026
iHeartMedia, Inc. IHRT	0.2%	+3.4 pp	Mar 2026
FuboTV Inc. FUBO	-1.3%	+2.2 pp	Dec 2025
Newsmax Inc. NMAX	-8.7%	+16.8 pp	Mar 2026
CuriosityStream Inc. CURI	-10%	−10.7 pp	Mar 2026
FreeCast, Inc. CAST	-813%	−2,460.7 pp	Mar 2026

Full 20-quarter history · every available company

OPM · reported quarter history

CuriosityStream Inc. · CURI

Jun 2021-72%

Sep 2021-44%

Dec 2021-66%

Mar 2022-111%

Jun 2022-72%

Sep 2022-19%

Dec 2022-106%

Mar 2023-63%

Jun 2023-57%

Sep 2023-153%

Dec 2023-32%

Mar 2024-30%

Jun 2024-21%

Sep 2024-26%

Dec 2024-27%

Mar 20250.5%

Jun 20252.5%

Sep 2025-25%

Dec 2025-18%

Mar 2026-10%

FreeCast, Inc. · CAST

Jun 2021—

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022—

Dec 2022—

Mar 2023-794%

Jun 2023—

Sep 2023—

Dec 2023—

Mar 2024-813%

Jun 2024—

Sep 2024—

Dec 2024—

Mar 2025—

Jun 2025—

Sep 2025—

Dec 2025—

Mar 2026—

FuboTV Inc. · FUBO

Jun 2021-62%

Sep 2021-66%

Dec 2021-48%

Mar 2022-51%

Jun 2022-41%

Sep 2022-46%

Dec 2022-4.3%

Mar 2023-25%

Jun 2023-17%

Sep 2023-26%

Dec 2023-18%

Mar 2024-16%

Jun 2024-9.1%

Sep 2024-15%

Dec 2024-3.5%

Mar 2025-6.1%

Jun 2025-1.6%

Sep 2025-5.3%

Dec 2025-1.3%

Mar 2026—

Gray Media, Inc. · GTN-A

Jun 202120%

Sep 202111%

Dec 202115%

Mar 202220%

Jun 202225%

Sep 202227%

Dec 202234%

Mar 20238.4%

Jun 202315%

Sep 202311%

Dec 202313%

Mar 202415%

Jun 202418%

Sep 202426%

Dec 202431%

Mar 202512%

Jun 202511%

Sep 202514%

Dec 202515%

Mar 202611%

iHeartMedia, Inc. · IHRT

Jun 20213.3%

Sep 20218.6%

Dec 202112%

Mar 20221.5%

Jun 20228.7%

Sep 2022-21%

Dec 202215%

Mar 2023-6.0%

Jun 2023-98%

Sep 20237.2%

Dec 20237.5%

Mar 2024-4.3%

Jun 2024-98%

Sep 20247.6%

Dec 20249.3%

Mar 2025-3.2%

Jun 20253.8%

Sep 2025-12%

Dec 20257.6%

Mar 20260.2%

Newsmax Inc. · NMAX

Jun 2021—

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022—

Dec 2022—

Mar 2023—

Jun 2023—

Sep 2023—

Dec 2023—

Mar 2024-125%

Jun 2024-12%

Sep 2024-20%

Dec 2024-11%

Mar 2025-26%

Jun 2025-165%

Sep 2025-16%

Dec 2025-9.0%

Mar 2026-8.7%

Nexstar Media Group, Inc. · NXST

Jun 202126%

Sep 202124%

Dec 202126%

Mar 202227%

Jun 202227%

Sep 202228%

Dec 202220%

Mar 202316%

Jun 202314%

Sep 20238.3%

Dec 202318%

Mar 202421%

Jun 202419%

Sep 202425%

Dec 202428%

Mar 202518%

Jun 202517%

Sep 202515%

Dec 202519%

Mar 202619%

Sinclair, Inc. · SBGI

Jun 2021-11%

Sep 20214.8%

Dec 20215.1%

Mar 2022269%

Jun 2022-13%

Sep 202218%

Dec 202226%

Mar 20232.7%

Jun 2023-0.4%

Sep 20234.8%

Dec 2023-47%

Mar 20245.3%

Jun 20247.7%

Sep 202420%

Dec 202427%

Mar 20251.8%

Jun 20252.7%

Sep 20257.5%

Dec 20259.6%

Mar 20263.3%

The E.W. Scripps Company · SSP

Jun 202118%

Sep 202121%

Dec 202120%

Mar 202213%

Jun 202215%

Sep 202217%

Dec 202224%

Mar 20233.1%

Jun 2023-107%

Sep 20239.4%

Dec 2023-33%

Mar 20247.7%

Jun 20249.7%

Sep 202419%

Dec 202426%

Mar 20255.2%

Jun 202514%

Sep 20257.2%

Dec 20257.5%

Mar 20264.8%

Urban One, Inc. · UONEK

Jun 202135%

Sep 202131%

Dec 202117%

Mar 202233%

Jun 202234%

Sep 202228%

Dec 202216%

Mar 202323%

Jun 202325%

Sep 202325%

Dec 20239.8%

Mar 202412%

Jun 202417%

Sep 202419%

Dec 202419%

Mar 20259.3%

Jun 202510%

Sep 20256.0%

Dec 2025—

Mar 2026—

Margin change · reported quarter history

CuriosityStream Inc. · CURI

Jun 2021—

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022+0.2 pp

Sep 2022+25.4 pp

Dec 2022−39.9 pp

Mar 2023+47.7 pp

Jun 2023+14.9 pp

Sep 2023−134.3 pp

Dec 2023+73.6 pp

Mar 2024+32.5 pp

Jun 2024+36.3 pp

Sep 2024+127.1 pp

Dec 2024+4.9 pp

Mar 2025+30.9 pp

Jun 2025+23.1 pp

Sep 2025+1.3 pp

Dec 2025+9.8 pp

Mar 2026−10.7 pp

FreeCast, Inc. · CAST

Jun 2021—

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022−846.9 pp

Sep 2022+1,184.5 pp

Dec 2022+988.1 pp

Mar 2023+1,347.8 pp

Jun 2023−768.2 pp

Sep 2023−1,317.9 pp

Dec 2023−2,042.1 pp

Mar 2024−19.3 pp

Jun 2024−452.2 pp

Sep 2024+232.9 pp

Dec 2024+1,246.4 pp

Mar 2025−1,485.3 pp

Jun 2025+1,939.1 pp

Sep 2025+1,531.6 pp

Dec 2025−1,863.6 pp

Mar 2026−2,460.7 pp

FuboTV Inc. · FUBO

Jun 2021—

Sep 2021—

Dec 2021—

Mar 2022+3.7 pp

Jun 2022+20.7 pp

Sep 2022+19.8 pp

Dec 2022+43.3 pp

Mar 2023+25.6 pp

Jun 2023+24.4 pp

Sep 2023+20.1 pp

Dec 2023−13.3 pp

Mar 2024+9.4 pp

Jun 2024+7.7 pp

Sep 2024+10.8 pp

Dec 2024+14.1 pp

Mar 2025+9.6 pp

Jun 2025+7.5 pp

Sep 2025+9.9 pp

Dec 2025+2.2 pp

Mar 2026—

Gray Media, Inc. · GTN-A

Jun 2021—

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022+5.4 pp

Sep 2022+15.9 pp

Dec 2022+19.3 pp

Mar 2023−11.4 pp

Jun 2023−10.5 pp

Sep 2023−16.5 pp

Dec 2023−20.8 pp

Mar 2024+6.7 pp

Jun 2024+3.8 pp

Sep 2024+15.8 pp

Dec 2024+18.0 pp

Mar 2025−3.3 pp

Jun 2025−7.8 pp

Sep 2025−12.7 pp

Dec 2025−16.5 pp

Mar 2026−1.3 pp

iHeartMedia, Inc. · IHRT

Jun 2021—

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022+5.4 pp

Sep 2022−30.0 pp

Dec 2022+3.8 pp

Mar 2023−7.5 pp

Jun 2023−106.2 pp

Sep 2023+28.6 pp

Dec 2023−7.9 pp

Mar 2024+1.7 pp

Jun 2024−0.4 pp

Sep 2024+0.4 pp

Dec 2024+1.8 pp

Mar 2025+1.1 pp

Jun 2025+101.7 pp

Sep 2025−19.3 pp

Dec 2025−1.7 pp

Mar 2026+3.4 pp

Newsmax Inc. · NMAX

Jun 2021—

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022—

Dec 2022—

Mar 2023—

Jun 2023—

Sep 2023—

Dec 2023—

Mar 2024—

Jun 2024—

Sep 2024—

Dec 2024—

Mar 2025+99.7 pp

Jun 2025−152.4 pp

Sep 2025+4.3 pp

Dec 2025+2.4 pp

Mar 2026+16.8 pp

Nexstar Media Group, Inc. · NXST

Jun 2021—

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022+1.3 pp

Sep 2022+4.1 pp

Dec 2022−6.2 pp

Mar 2023−11.0 pp

Jun 2023−12.4 pp

Sep 2023−19.8 pp

Dec 2023−2.1 pp

Mar 2024+5.2 pp

Jun 2024+4.5 pp

Sep 2024+16.2 pp

Dec 2024+10.3 pp

Mar 2025−3.6 pp

Jun 2025−1.6 pp

Sep 2025−9.9 pp

Dec 2025−9.2 pp

Mar 2026+1.2 pp

Sinclair, Inc. · SBGI

Jun 2021—

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022−1.8 pp

Sep 2022+13.5 pp

Dec 2022+21.3 pp

Mar 2023−266.4 pp

Jun 2023+12.4 pp

Sep 2023−13.5 pp

Dec 2023−73.1 pp

Mar 2024+2.6 pp

Jun 2024+8.1 pp

Sep 2024+14.7 pp

Dec 2024+73.2 pp

Mar 2025−3.5 pp

Jun 2025−5.0 pp

Sep 2025−12.0 pp

Dec 2025−16.9 pp

Mar 2026+1.5 pp

The E.W. Scripps Company · SSP

Jun 2021—

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022−3.4 pp

Sep 2022−3.8 pp

Dec 2022+4.2 pp

Mar 2023−9.5 pp

Jun 2023−121.6 pp

Sep 2023−7.6 pp

Dec 2023−56.8 pp

Mar 2024+4.6 pp

Jun 2024+116.3 pp

Sep 2024+9.4 pp

Dec 2024+59.0 pp

Mar 2025−2.5 pp

Jun 2025+4.5 pp

Sep 2025−11.6 pp

Dec 2025−18.8 pp

Mar 2026−0.4 pp

Urban One, Inc. · UONEK

Jun 2021—

Sep 2021—

Dec 2021−14.7 pp

Mar 2022+6.5 pp

Jun 2022−1.3 pp

Sep 2022−3.3 pp

Dec 2022−1.0 pp

Mar 2023−9.8 pp

Jun 2023−9.4 pp

Sep 2023−2.7 pp

Dec 2023−6.5 pp

Mar 2024−10.4 pp

Jun 2024−7.2 pp

Sep 2024−6.2 pp

Dec 2024+9.3 pp

Mar 2025−3.0 pp

Jun 2025−7.0 pp

Sep 2025−12.7 pp

Dec 2025—

Mar 2026—

03 · compare level, then change

Profit Scale & Acceleration

FuboTV Inc. has the highest Net profit among the 11 Broadcasting companies compared here, at $304 million. Nexstar Media Group, Inc. is next at $146 million. Nexstar Media Group, Inc. has the highest Profit growth at -76.2%, so level and change sit with different companies. 10 of 11 companies report a comparable reading, the latest through Dec 2025.

What the numbers say: FuboTV Inc. leads with $304 million of TTM profit, 108.2% above Nexstar Media Group, Inc.. Nexstar Media Group, Inc. shows -76.2% growth from a $146 million profit base. Compare the size of the base and persistence before ranking acceleration above profit scale.

LeaderFuboTV Inc. · $304 million

Gap108.2% versus #2 · Nexstar Media Group, Inc.

PersistenceNot enough history

Coverage10/11 companies · 186 observations

Investor read: FuboTV Inc. sets the level benchmark; use the change leader as an inflection watch only after another comparable report confirms it.

This conclusion weakens if: The next two comparable reports reverse the current profit growth signal.

Net profit is the residual after operating costs, interest and tax. Growth off a loss or near-zero base is excluded from the fastest-grower rank.

Net profitlargest

1FuboTV Inc. FUBO$304M

2Nexstar Media Group, Inc. NXST$146M

3Sinclair, Inc. SBGI$83M

4CuriosityStream Inc. CURI$-8M

5FreeCast, Inc. CAST$-14M

Profit growthfastest growers

1Nexstar Media Group, Inc. NXST-76%

Net profit · company comparison

10/11 level · 1/11 change

Solid lines show level; dotted lines show change when “Both” is selected. Missing reports break the line rather than being invented.

All-company data · latest reported quarter

Each figure is the company’s latest single reported quarter. The rankings above use trailing-twelve-month or current-market values, so a company can legitimately show a different number in each.

Company	Net profit	Profit growth	Reported
Nexstar Media Group, Inc. NXST	$160M	65%	Mar 2026
Sinclair, Inc. SBGI	$21M	-45%	Mar 2026
CuriosityStream Inc. CURI	$-1M	-600%	Mar 2026
Newsmax Inc. NMAX	$-2M	—	Mar 2026
The E.W. Scripps Company SSP	$-2M	-131%	Mar 2026
Urban One, Inc. UONEK	$-3M	-271%	Sep 2025
FreeCast, Inc. CAST	$-5M	—	Mar 2026
FuboTV Inc. FUBO	$-19M	—	Dec 2025
Gray Media, Inc. GTN-A	$-20M	-106%	Mar 2026
iHeartMedia, Inc. IHRT	$-96M	-228%	Mar 2026

Full 20-quarter history · every available company

Net profit · reported quarter history

CuriosityStream Inc. · CURI

Jun 2021$-8M

Sep 2021$1M

Dec 2021$-11M

Mar 2022$-16M

Jun 2022$-16M

Sep 2022$-5M

Dec 2022$-15M

Mar 2023$-8M

Jun 2023$-10M

Sep 2023$-27M

Dec 2023$-5M

Mar 2024$-5M

Jun 2024$-2M

Sep 2024$-3M

Dec 2024$-3M

Mar 2025$0M

Jun 2025$1M

Sep 2025$-4M

Dec 2025$-4M

Mar 2026$-1M

FreeCast, Inc. · CAST

Jun 2021$-2M

Sep 2021$-2M

Dec 2021$-2M

Mar 2022$-4M

Jun 2022$-4M

Sep 2022$0M

Dec 2022$-2M

Mar 2023$-2M

Jun 2023$-2M

Sep 2023$-3M

Dec 2023$-3M

Mar 2024$-3M

Jun 2024$-4M

Sep 2024$-4M

Dec 2024$-4M

Mar 2025$-3M

Jun 2025$-3M

Sep 2025$-3M

Dec 2025$-3M

Mar 2026$-5M

FuboTV Inc. · FUBO

Jun 2021$-95M

Sep 2021$-106M

Dec 2021$-207M

Mar 2022$-269M

Jun 2022$-211M

Sep 2022$-259M

Dec 2022$-248M

Mar 2023$-167M

Jun 2023$-104M

Sep 2023$-168M

Dec 2023$-142M

Mar 2024$-113M

Jun 2024$-52M

Sep 2024$-108M

Dec 2024$-80M

Mar 2025$377M

Jun 2025$-16M

Sep 2025$-38M

Dec 2025$-19M

Mar 2026—

Gray Media, Inc. · GTN-A

Jun 2021$39M

Sep 2021$-17M

Dec 2021$29M

Mar 2022$62M

Jun 2022$99M

Sep 2022$108M

Dec 2022$186M

Mar 2023$-31M

Jun 2023$4M

Sep 2023$-40M

Dec 2023$-9M

Mar 2024$88M

Jun 2024$22M

Sep 2024$96M

Dec 2024$169M

Mar 2025$-9M

Jun 2025$-56M

Sep 2025$-10M

Dec 2025$-10M

Mar 2026$-20M

iHeartMedia, Inc. · IHRT

Jun 2021$-32M

Sep 2021$4M

Dec 2021$112M

Mar 2022$-49M

Jun 2022$15M

Sep 2022$-310M

Dec 2022$81M

Mar 2023$-222M

Jun 2023$-883M

Sep 2023$-9M

Dec 2023$14M

Mar 2024$-18M

Jun 2024$-982M

Sep 2024$-41M

Dec 2024$32M

Mar 2025$-281M

Jun 2025$-84M

Sep 2025$-66M

Dec 2025$-41M

Mar 2026$-96M

Newsmax Inc. · NMAX

Jun 2021—

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022—

Dec 2022—

Mar 2023—

Jun 2023—

Sep 2023—

Dec 2023—

Mar 2024$-51M

Jun 2024$-5M

Sep 2024$-10M

Dec 2024$-7M

Mar 2025$-17M

Jun 2025$-75M

Sep 2025$-4M

Dec 2025$-3M

Mar 2026$-2M

Nexstar Media Group, Inc. · NXST

Jun 2021$200M

Sep 2021$169M

Dec 2021$262M

Mar 2022$252M

Jun 2022$226M

Sep 2022$288M

Dec 2022$177M

Mar 2023$88M

Jun 2023$75M

Sep 2023$8M

Dec 2023$99M

Mar 2024$167M

Jun 2024$106M

Sep 2024$180M

Dec 2024$230M

Mar 2025$97M

Jun 2025$91M

Sep 2025$65M

Dec 2025$-170M

Mar 2026$160M

Sinclair, Inc. · SBGI

Jun 2021$-328M

Sep 2021$17M

Dec 2021$-41M

Mar 2022$2.6B

Jun 2022$-6M

Sep 2022$29M

Dec 2022$62M

Mar 2023$193M

Jun 2023$-87M

Sep 2023$-45M

Dec 2023$-340M

Mar 2024$25M

Jun 2024$19M

Sep 2024$96M

Dec 2024$225M

Mar 2025$-154M

Jun 2025$-62M

Sep 2025$1M

Dec 2025$123M

Mar 2026$21M

The E.W. Scripps Company · SSP

Jun 2021$1M

Sep 2021$58M

Dec 2021$53M

Mar 2022$22M

Jun 2022$42M

Sep 2022$46M

Dec 2022$86M

Mar 2023$-19M

Jun 2023$-670M

Sep 2023$-4M

Dec 2023$-256M

Mar 2024$2M

Jun 2024$1M

Sep 2024$48M

Dec 2024$95M

Mar 2025$-3M

Jun 2025$-36M

Sep 2025$-33M

Dec 2025$-29M

Mar 2026$-2M

Urban One, Inc. · UONEK

Jun 2021$18M

Sep 2021$14M

Dec 2021$5M

Mar 2022$16M

Jun 2022$16M

Sep 2022$3M

Dec 2022$-2M

Mar 2023$-3M

Jun 2023$70M

Sep 2023$-54M

Dec 2023$-11M

Mar 2024$7M

Jun 2024$-45M

Sep 2024$-32M

Dec 2024$-36M

Mar 2025$-12M

Jun 2025$-78M

Sep 2025$-3M

Dec 2025—

Mar 2026—

Profit growth · reported quarter history

CuriosityStream Inc. · CURI

Jun 2021—

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022-600%

Dec 2022—

Mar 2023—

Jun 2023—

Sep 2023—

Dec 2023—

Mar 2024—

Jun 2024—

Sep 2024—

Dec 2024—

Mar 2025—

Jun 2025—

Sep 2025—

Dec 2025—

Mar 2026—

Gray Media, Inc. · GTN-A

Jun 2021—

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022154%

Sep 2022—

Dec 2022541%

Mar 2023-150%

Jun 2023-96%

Sep 2023-137%

Dec 2023-105%

Mar 2024—

Jun 2024450%

Sep 2024—

Dec 2024—

Mar 2025-110%

Jun 2025-355%

Sep 2025-110%

Dec 2025-106%

Mar 2026—

iHeartMedia, Inc. · IHRT

Jun 2021—

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022-7,850%

Dec 2022-28%

Mar 2023—

Jun 2023-5,987%

Sep 2023—

Dec 2023-83%

Mar 2024—

Jun 2024—

Sep 2024—

Dec 2024129%

Mar 2025—

Jun 2025—

Sep 2025—

Dec 2025-228%

Mar 2026—

Nexstar Media Group, Inc. · NXST

Jun 2021—

Sep 2021—

Dec 2021—

Mar 2022—

Jun 202213%

Sep 202270%

Dec 2022-32%

Mar 2023-65%

Jun 2023-67%

Sep 2023-97%

Dec 2023-44%

Mar 202490%

Jun 202441%

Sep 20242,150%

Dec 2024132%

Mar 2025-42%

Jun 2025-14%

Sep 2025-64%

Dec 2025-174%

Mar 202665%

Sinclair, Inc. · SBGI

Jun 2021—

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022—

Sep 202271%

Dec 2022—

Mar 2023-93%

Jun 2023—

Sep 2023-255%

Dec 2023-648%

Mar 2024-87%

Jun 2024—

Sep 2024—

Dec 2024—

Mar 2025-716%

Jun 2025-426%

Sep 2025-99%

Dec 2025-45%

Mar 2026—

The E.W. Scripps Company · SSP

Jun 2021—

Sep 2021—

Dec 2021—

Mar 2022—

Jun 20224,100%

Sep 2022-21%

Dec 202262%

Mar 2023-186%

Jun 2023-1,695%

Sep 2023-109%

Dec 2023-398%

Mar 2024—

Jun 2024—

Sep 2024—

Dec 2024—

Mar 2025-250%

Jun 2025-3,700%

Sep 2025-169%

Dec 2025-131%

Mar 2026—

Urban One, Inc. · UONEK

Jun 2021—

Sep 2021—

Dec 2021-81%

Mar 2022—

Jun 2022-11%

Sep 2022-79%

Dec 2022-140%

Mar 2023-119%

Jun 2023338%

Sep 2023-1,900%

Dec 2023—

Mar 2024—

Jun 2024-164%

Sep 2024—

Dec 2024—

Mar 2025-271%

Jun 2025—

Sep 2025—

Dec 2025—

Mar 2026—

04 · compare level, then change

Capacity Spending & Returns On It

iHeartMedia, Inc. has the highest CAPEX among the 11 Broadcasting companies compared here, at $22 million. Urban One, Inc. has the highest CAPEX intensity at 3.2%, so level and change sit with different companies. 10 of 11 companies report a comparable reading, the latest through Mar 2026. Its CAPEX series carries 20 reported observations across the 20-quarter window.

What the numbers say: iHeartMedia, Inc. reports $22 million of CAPEX; Urban One, Inc. has the highest covered intensity at 3.2%. Coverage is only 10 of 11 companies and 177 reported observations, so this is partial evidence—not a complete sector rank.

LeaderiHeartMedia, Inc. · $22 million

Gap0% versus #2 · Nexstar Media Group, Inc.

Persistence8/8 recent comparable periods

Coverage10/11 companies · 177 observations

Investor read: Use the CAPEX rank as a diligence queue. Verify commissioning, utilization, cash conversion and post-investment ROCE before treating spend as value creation.

This conclusion weakens if: CAPEX rises without higher utilization, operating cash flow or incremental returns.

CAPEX is cash spent on property, plant, equipment and other reported capital assets. CAPEX intensity divides that spend by revenue; high intensity is a reinvestment signal, not proof that the reinvestment will earn attractive returns.

CAPEXlargest spenders

1iHeartMedia, Inc. IHRT$22M

2Nexstar Media Group, Inc. NXST$22M

3Gray Media, Inc. GTN-A$19M

4Sinclair, Inc. SBGI$15M

5The E.W. Scripps Company SSP$3M

CAPEX intensityhighest reinvestment intensity

1Urban One, Inc. UONEK · older report3.2%

2Gray Media, Inc. GTN-A2.5%

3iHeartMedia, Inc. IHRT2.5%

4Sinclair, Inc. SBGI1.9%

5Nexstar Media Group, Inc. NXST1.6%

Capital expenditure · company comparison

10/11 level · 9/11 change

Solid lines show level; dotted lines show change when “Both” is selected. Missing reports break the line rather than being invented.

All-company data · latest reported quarter

Each figure is the company’s latest single reported quarter. The rankings above use trailing-twelve-month or current-market values, so a company can legitimately show a different number in each.

Company	CAPEX	CAPEX intensity	Reported
Nexstar Media Group, Inc. NXST	$22M	1.6%	Mar 2026
iHeartMedia, Inc. IHRT	$22M	2.5%	Mar 2026
Gray Media, Inc. GTN-A	$19M	2.5%	Mar 2026
Sinclair, Inc. SBGI	$15M	1.9%	Mar 2026
The E.W. Scripps Company SSP	$3M	0.6%	Mar 2026
Urban One, Inc. UONEK	$3M	3.2%	Sep 2025
FuboTV Inc. FUBO	$1M	0.1%	Dec 2025
Newsmax Inc. NMAX	$0M	0.0%	Mar 2026
CuriosityStream Inc. CURI	$0M	0.0%	Mar 2026
FreeCast, Inc. CAST	$0M	—	Mar 2026

Full 20-quarter history · every available company

CAPEX · reported quarter history

CuriosityStream Inc. · CURI

Jun 2021$0M

Sep 2021$0M

Dec 2021$0M

Mar 2022$0M

Jun 2022$0M

Sep 2022$0M

Dec 2022$0M

Mar 2023$0M

Jun 2023$0M

Sep 2023$0M

Dec 2023$0M

Mar 2024—

Jun 2024—

Sep 2024—

Dec 2024—

Mar 2025$0M

Jun 2025$0M

Sep 2025$0M

Dec 2025$0M

Mar 2026—

FreeCast, Inc. · CAST

Jun 2021$0M

Sep 2021$0M

Dec 2021$0M

Mar 2022$0M

Jun 2022$0M

Sep 2022—

Dec 2022$0M

Mar 2023$0M

Jun 2023$0M

Sep 2023$0M

Dec 2023$0M

Mar 2024$0M

Jun 2024$0M

Sep 2024$0M

Dec 2024—

Mar 2025$0M

Jun 2025$0M

Sep 2025$0M

Dec 2025—

Mar 2026$0M

FuboTV Inc. · FUBO

Jun 2021$1M

Sep 2021$2M

Dec 2021$1M

Mar 2022$1M

Jun 2022$0M

Sep 2022$0M

Dec 2022$0M

Mar 2023$0M

Jun 2023$0M

Sep 2023$0M

Dec 2023$1M

Mar 2024$0M

Jun 2024$0M

Sep 2024$2M

Dec 2024—

Mar 2025$0M

Jun 2025$0M

Sep 2025$0M

Dec 2025$1M

Mar 2026—

Gray Media, Inc. · GTN-A

Jun 2021$108M

Sep 2021$33M

Dec 2021$53M

Mar 2022$47M

Jun 2022$112M

Sep 2022$139M

Dec 2022$138M

Mar 2023$110M

Jun 2023$103M

Sep 2023$75M

Dec 2023$60M

Mar 2024$34M

Jun 2024$29M

Sep 2024$40M

Dec 2024$40M

Mar 2025$15M

Jun 2025$25M

Sep 2025$25M

Dec 2025$43M

Mar 2026$19M

iHeartMedia, Inc. · IHRT

Jun 2021$32M

Sep 2021$50M

Dec 2021$82M

Mar 2022$23M

Jun 2022$50M

Sep 2022$40M

Dec 2022$48M

Mar 2023$39M

Jun 2023$23M

Sep 2023$29M

Dec 2023$12M

Mar 2024$22M

Jun 2024$21M

Sep 2024$29M

Dec 2024$25M

Mar 2025$20M

Jun 2025$20M

Sep 2025$23M

Dec 2025$19M

Mar 2026$22M

Newsmax Inc. · NMAX

Jun 2021—

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022—

Dec 2022—

Mar 2023—

Jun 2023—

Sep 2023—

Dec 2023—

Mar 2024$0M

Jun 2024$0M

Sep 2024$0M

Dec 2024$0M

Mar 2025$0M

Jun 2025$1M

Sep 2025$1M

Dec 2025$1M

Mar 2026$0M

Nexstar Media Group, Inc. · NXST

Jun 2021$35M

Sep 2021$38M

Dec 2021$46M

Mar 2022$29M

Jun 2022$34M

Sep 2022$37M

Dec 2022$57M

Mar 2023$36M

Jun 2023$41M

Sep 2023$36M

Dec 2023$36M

Mar 2024$44M

Jun 2024$37M

Sep 2024$29M

Dec 2024$35M

Mar 2025$35M

Jun 2025$29M

Sep 2025$30M

Dec 2025$54M

Mar 2026$22M

Sinclair, Inc. · SBGI

Jun 2021$18M

Sep 2021$24M

Dec 2021$18M

Mar 2022$21M

Jun 2022$24M

Sep 2022$29M

Dec 2022$31M

Mar 2023$20M

Jun 2023$20M

Sep 2023$30M

Dec 2023$22M

Mar 2024$21M

Jun 2024$23M

Sep 2024$17M

Dec 2024$23M

Mar 2025$16M

Jun 2025$17M

Sep 2025$22M

Dec 2025$19M

Mar 2026$15M

The E.W. Scripps Company · SSP

Jun 2021$24M

Sep 2021$17M

Dec 2021$16M

Mar 2022$13M

Jun 2022$15M

Sep 2022$8M

Dec 2022$10M

Mar 2023$8M

Jun 2023$18M

Sep 2023$18M

Dec 2023$16M

Mar 2024$22M

Jun 2024$24M

Sep 2024$13M

Dec 2024$6M

Mar 2025$5M

Jun 2025$12M

Sep 2025$15M

Dec 2025$14M

Mar 2026$3M

Urban One, Inc. · UONEK

Jun 2021$2M

Sep 2021$2M

Dec 2021$2M

Mar 2022$2M

Jun 2022$2M

Sep 2022$26M

Dec 2022$2M

Mar 2023$2M

Jun 2023$2M

Sep 2023$30M

Dec 2023$1M

Mar 2024$2M

Jun 2024$2M

Sep 2024$2M

Dec 2024$2M

Mar 2025$3M

Jun 2025$1M

Sep 2025$3M

Dec 2025—

Mar 2026—

CAPEX intensity · reported quarter history

CuriosityStream Inc. · CURI

Jun 20210.0%

Sep 20210.0%

Dec 20210.0%

Mar 20220.0%

Jun 20220.0%

Sep 20220.0%

Dec 20220.0%

Mar 20230.0%

Jun 20230.0%

Sep 20230.0%

Dec 20230.0%

Mar 2024—

Jun 2024—

Sep 2024—

Dec 2024—

Mar 20250.0%

Jun 20250.0%

Sep 20250.0%

Dec 20250.0%

Mar 2026—

FuboTV Inc. · FUBO

Jun 20210.8%

Sep 20211.3%

Dec 20210.4%

Mar 20220.4%

Jun 20220.0%

Sep 20220.0%

Dec 20220.0%

Mar 20230.0%

Jun 20230.0%

Sep 20230.0%

Dec 20230.2%

Mar 20240.0%

Jun 20240.0%

Sep 20240.5%

Dec 2024—

Mar 20250.0%

Jun 20250.0%

Sep 20250.0%

Dec 20250.1%

Mar 2026—

Gray Media, Inc. · GTN-A

Jun 202120%

Sep 20215.5%

Dec 20217.4%

Mar 20225.7%

Jun 202213%

Sep 202215%

Dec 202213%

Mar 202314%

Jun 202313%

Sep 20239.3%

Dec 20236.9%

Mar 20244.1%

Jun 20243.5%

Sep 20244.2%

Dec 20243.8%

Mar 20251.9%

Jun 20253.2%

Sep 20253.3%

Dec 20255.4%

Mar 20262.5%

iHeartMedia, Inc. · IHRT

Jun 20213.7%

Sep 20215.4%

Dec 20217.7%

Mar 20222.7%

Jun 20225.2%

Sep 20224.0%

Dec 20224.3%

Mar 20234.8%

Jun 20232.5%

Sep 20233.0%

Dec 20231.1%

Mar 20242.8%

Jun 20242.3%

Sep 20242.9%

Dec 20242.2%

Mar 20252.5%

Jun 20252.1%

Sep 20252.3%

Dec 20251.7%

Mar 20262.5%

Newsmax Inc. · NMAX

Jun 2021—

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022—

Dec 2022—

Mar 2023—

Jun 2023—

Sep 2023—

Dec 2023—

Mar 20240.0%

Jun 20240.0%

Sep 20240.0%

Dec 20240.0%

Mar 20250.0%

Jun 20252.2%

Sep 20252.2%

Dec 20251.9%

Mar 20260.0%

Nexstar Media Group, Inc. · NXST

Jun 20213.1%

Sep 20213.3%

Dec 20213.7%

Mar 20222.4%

Jun 20222.7%

Sep 20222.9%

Dec 20223.8%

Mar 20232.9%

Jun 20233.3%

Sep 20233.2%

Dec 20232.8%

Mar 20243.4%

Jun 20242.9%

Sep 20242.1%

Dec 20242.4%

Mar 20252.8%

Jun 20252.4%

Sep 20252.5%

Dec 20254.2%

Mar 20261.6%

Sinclair, Inc. · SBGI

Jun 20211.1%

Sep 20211.6%

Dec 20211.2%

Mar 20221.6%

Jun 20222.9%

Sep 20223.4%

Dec 20223.2%

Mar 20232.6%

Jun 20232.6%

Sep 20233.9%

Dec 20232.7%

Mar 20242.6%

Jun 20242.8%

Sep 20241.9%

Dec 20242.3%

Mar 20252.1%

Jun 20252.2%

Sep 20252.8%

Dec 20252.3%

Mar 20261.9%

The E.W. Scripps Company · SSP

Jun 20214.2%

Sep 20213.1%

Dec 20212.6%

Mar 20222.3%

Jun 20222.5%

Sep 20221.3%

Dec 20221.5%

Mar 20231.5%

Jun 20233.1%

Sep 20233.2%

Dec 20232.6%

Mar 20243.9%

Jun 20244.2%

Sep 20242.0%

Dec 20240.8%

Mar 20251.0%

Jun 20252.2%

Sep 20252.9%

Dec 20252.5%

Mar 20260.6%

Urban One, Inc. · UONEK

Jun 20211.9%

Sep 20211.8%

Dec 20211.5%

Mar 20221.8%

Jun 20221.7%

Sep 202222%

Dec 20221.5%

Mar 20231.8%

Jun 20231.5%

Sep 202325%

Dec 20230.8%

Mar 20241.9%

Jun 20241.7%

Sep 20241.8%

Dec 20241.7%

Mar 20253.3%

Jun 20251.1%

Sep 20253.2%

Dec 2025—

Dec 2020$60M

Dec 2025—

05 · compare level, then change

Debt Load & Balance-Sheet Headroom

CuriosityStream Inc. has the lowest Gross debt among the 11 Broadcasting companies compared here, at $3 million. FreeCast, Inc. is next at $5 million. Newsmax Inc. has the lowest Net debt at $121 million net cash, so level and change sit with different companies. 10 of 11 companies report a comparable reading, the latest through Mar 2026.

What the numbers say: Newsmax Inc. has the clearest covered balance-sheet capacity with $121 million net cash and gross debt of $8 million. Absolute debt alone does not identify the strongest balance sheet because company scale differs; net debt and debt-to-equity carry more information.

LeaderCuriosityStream Inc. · $3 million

Gap40% versus #2 · FreeCast, Inc.

Persistence8/8 recent comparable periods

Coverage10/11 companies · 180 observations

Investor read: Prioritize net-cash capacity and leverage relative to operating scale, not the smallest absolute rupee debt.

This conclusion weakens if: Net debt rises faster than revenue and profit for two consecutive reported periods.

Gross debt shows contractual borrowings. Net debt subtracts reported cash; a negative value means net cash. Lower debt can create capacity, but should be read against the scale and capital intensity of the business.

Gross debtlowest gross debt

1CuriosityStream Inc. CURI$3M

2FreeCast, Inc. CAST$5M

3Newsmax Inc. NMAX$8M

4FuboTV Inc. FUBO$414M

5Urban One, Inc. UONEK · older report$522M

Net debtlowest net debt

1Newsmax Inc. NMAX$-121M

2FuboTV Inc. FUBO$-38M

3CuriosityStream Inc. CURI$-17M

4FreeCast, Inc. CAST$5M

5Urban One, Inc. UONEK · older report$443M

Debt and balance-sheet capacity · company comparison

10/11 level · 10/11 change

Solid lines show level; dotted lines show change when “Both” is selected. Missing reports break the line rather than being invented.

All-company data · latest reported quarter

Each figure is the company’s latest single reported quarter. The rankings above use trailing-twelve-month or current-market values, so a company can legitimately show a different number in each.

Company	Gross debt	Net debt	Reported
Nexstar Media Group, Inc. NXST	$12.2B	$12.1B	Mar 2026
Gray Media, Inc. GTN-A	$5.8B	$5.6B	Mar 2026
iHeartMedia, Inc. IHRT	$5.8B	$5.6B	Mar 2026
Sinclair, Inc. SBGI	$4.5B	$3.7B	Mar 2026
The E.W. Scripps Company SSP	$2.6B	$2.5B	Mar 2026
Urban One, Inc. UONEK	$522M	$443M	Sep 2025
FuboTV Inc. FUBO	$414M	$-38M	Dec 2025
Newsmax Inc. NMAX	$8M	$-121M	Mar 2026
FreeCast, Inc. CAST	$5M	$5M	Mar 2026
CuriosityStream Inc. CURI	$3M	$-17M	Mar 2026

Full 20-quarter history · every available company

Gross debt · reported quarter history

CuriosityStream Inc. · CURI

Jun 2021$0M

Sep 2021$0M

Dec 2021$0M

Mar 2022$5M

Jun 2022$5M

Sep 2022$5M

Dec 2022$5M

Mar 2023$5M

Jun 2023$4M

Sep 2023$4M

Dec 2023$4M

Mar 2024$4M

Jun 2024$4M

Sep 2024$4M

Dec 2024$4M

Mar 2025$4M

Jun 2025$4M

Sep 2025$4M

Dec 2025$3M

Mar 2026$3M

FreeCast, Inc. · CAST

Jun 2021$2M

Sep 2021—

Dec 2021—

Mar 2022$3M

Jun 2022$3M

Sep 2022—

Dec 2022—

Mar 2023$6M

Jun 2023$6M

Sep 2023—

Dec 2023—

Mar 2024$3M

Jun 2024$3M

Sep 2024$3M

Dec 2024$3M

Mar 2025$4M

Jun 2025$4M

Sep 2025$3M

Dec 2025$3M

Mar 2026$5M

FuboTV Inc. · FUBO

Jun 2021$321M

Sep 2021$324M

Dec 2021$361M

Mar 2022$444M

Jun 2022$444M

Sep 2022$444M

Dec 2022$443M

Mar 2023$443M

Jun 2023$447M

Sep 2023$448M

Dec 2023$443M

Mar 2024$430M

Jun 2024$401M

Sep 2024$380M

Dec 2024$378M

Mar 2025$377M

Jun 2025$375M

Sep 2025$0M

Dec 2025$414M

Mar 2026—

Gray Media, Inc. · GTN-A

Jun 2021$4.0B

Sep 2021$4.0B

Dec 2021$6.8B

Mar 2022$6.8B

Jun 2022$6.8B

Sep 2022$6.7B

Dec 2022$6.5B

Mar 2023$6.2B

Jun 2023$6.3B

Sep 2023$6.3B

Dec 2023$6.2B

Mar 2024$6.2B

Jun 2024$6.2B

Sep 2024$6.0B

Dec 2024$5.7B

Mar 2025$5.7B

Jun 2025$5.7B

Sep 2025$5.7B

Dec 2025$5.8B

Mar 2026$5.8B

iHeartMedia, Inc. · IHRT

Jun 2021$6.9B

Sep 2021$6.6B

Dec 2021$6.6B

Mar 2022$6.6B

Jun 2022$6.5B

Sep 2022$6.5B

Dec 2022$6.3B

Mar 2023$6.3B

Jun 2023$6.2B

Sep 2023$6.1B

Dec 2023$6.1B

Mar 2024$6.0B

Jun 2024$6.0B

Sep 2024$6.0B

Dec 2024$5.9B

Mar 2025$5.8B

Jun 2025$5.9B

Sep 2025$5.9B

Dec 2025$5.8B

Mar 2026$5.8B

Newsmax Inc. · NMAX

Jun 2021—

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022—

Dec 2022—

Mar 2023—

Jun 2023—

Sep 2023$12M

Dec 2023$12M

Mar 2024—

Jun 2024—

Sep 2024$8M

Dec 2024$8M

Mar 2025$7M

Jun 2025$6M

Sep 2025$5M

Dec 2025$9M

Mar 2026$8M

Nexstar Media Group, Inc. · NXST

Jun 2021$7.6B

Sep 2021$7.6B

Dec 2021$7.5B

Mar 2022$7.3B

Jun 2022$7.3B

Sep 2022$7.2B

Dec 2022$7.0B

Mar 2023$7.0B

Jun 2023$6.9B

Sep 2023$6.9B

Dec 2023$6.8B

Mar 2024$6.9B

Jun 2024$6.8B

Sep 2024$6.7B

Dec 2024$6.6B

Mar 2025$6.5B

Jun 2025$6.4B

Sep 2025$6.4B

Dec 2025$6.4B

Mar 2026$12.2B

Sinclair, Inc. · SBGI

Jun 2021$12.8B

Sep 2021$12.7B

Dec 2021$12.6B

Mar 2022$4.6B

Jun 2022$4.5B

Sep 2022$4.4B

Dec 2022$4.4B

Mar 2023$4.4B

Jun 2023$4.4B

Sep 2023$4.3B

Dec 2023$4.3B

Mar 2024$4.3B

Jun 2024$4.3B

Sep 2024$4.3B

Dec 2024$4.3B

Mar 2025$4.3B

Jun 2025$4.3B

Sep 2025$4.2B

Dec 2025$4.5B

Mar 2026$4.5B

The E.W. Scripps Company · SSP

Jun 2021$3.4B

Sep 2021$3.3B

Dec 2021$3.3B

Mar 2022$3.2B

Jun 2022$3.2B

Sep 2022$3.1B

Dec 2022$3.0B

Mar 2023$3.0B

Jun 2023$3.0B

Sep 2023$3.0B

Dec 2023$3.0B

Mar 2024$3.0B

Jun 2024$3.0B

Sep 2024$2.8B

Dec 2024$2.7B

Mar 2025$2.7B

Jun 2025$2.7B

Sep 2025$2.7B

Dec 2025$2.7B

Mar 2026$2.6B

Urban One, Inc. · UONEK

Jun 2021$864M

Sep 2021$861M

Dec 2021$860M

Mar 2022$858M

Jun 2022$824M

Sep 2022$800M

Dec 2022$773M

Mar 2023$745M

Jun 2023$744M

Sep 2023$746M

Dec 2023$749M

Mar 2024$677M

Jun 2024$643M

Sep 2024$628M

Dec 2024$611M

Mar 2025$584M

Jun 2025$522M

Sep 2025$522M

Dec 2025—

Mar 2026—

Net debt · reported quarter history

CuriosityStream Inc. · CURI

Jun 2021$-100M

Sep 2021$-81M

Dec 2021$-81M

Mar 2022$-78M

Jun 2022$-72M

Sep 2022$-59M

Dec 2022$-50M

Mar 2023$-44M

Jun 2023$-40M

Sep 2023$-36M

Dec 2023$-34M

Mar 2024$-35M

Jun 2024$-36M

Sep 2024$-29M

Dec 2024$-28M

Mar 2025$-29M

Jun 2025$-24M

Sep 2025$-24M

Dec 2025$-24M

Mar 2026$-17M

FreeCast, Inc. · CAST

Jun 2021$2M

Sep 2021—

Dec 2021—

Mar 2022$3M

Jun 2022$3M

Sep 2022—

Dec 2022—

Mar 2023$4M

Jun 2023$4M

Sep 2023—

Dec 2023—

Mar 2024$-2M

Jun 2024$-2M

Sep 2024$1M

Dec 2024$1M

Mar 2025$3M

Jun 2025$3M

Sep 2025$3M

Dec 2025$3M

Mar 2026$5M

FuboTV Inc. · FUBO

Jun 2021$-86M

Sep 2021$-69M

Dec 2021$-10M

Mar 2022$-8M

Jun 2022$71M

Sep 2022$142M

Dec 2022$106M

Mar 2023$84M

Jun 2023$153M

Sep 2023$188M

Dec 2023$198M

Mar 2024$261M

Jun 2024$246M

Sep 2024$234M

Dec 2024$217M

Mar 2025$55M

Jun 2025$91M

Sep 2025—

Dec 2025$-38M

Mar 2026—

Gray Media, Inc. · GTN-A

Jun 2021$3.3B

Sep 2021$3.7B

Dec 2021$6.6B

Mar 2022$6.6B

Jun 2022$6.6B

Sep 2022$6.5B

Dec 2022$6.5B

Mar 2023$6.2B

Jun 2023$6.3B

Sep 2023$6.2B

Dec 2023$6.2B

Mar 2024$6.1B

Jun 2024$6.1B

Sep 2024$5.9B

Dec 2024$5.6B

Mar 2025$5.5B

Jun 2025$5.5B

Sep 2025$5.5B

Dec 2025$5.4B

Mar 2026$5.6B

iHeartMedia, Inc. · IHRT

Jun 2021$6.3B

Sep 2021$6.2B

Dec 2021$6.2B

Mar 2022$6.3B

Jun 2022$6.2B

Sep 2022$6.2B

Dec 2022$6.0B

Mar 2023$6.1B

Jun 2023$6.0B

Sep 2023$5.9B

Dec 2023$5.7B

Mar 2024$5.7B

Jun 2024$5.7B

Sep 2024$5.6B

Dec 2024$5.6B

Mar 2025$5.7B

Jun 2025$5.7B

Sep 2025$5.7B

Dec 2025$5.5B

Mar 2026$5.6B

Newsmax Inc. · NMAX

Jun 2021—

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022—

Dec 2022—

Mar 2023—

Jun 2023—

Sep 2023$5M

Dec 2023$5M

Mar 2024—

Jun 2024—

Sep 2024$-74M

Dec 2024$-74M

Mar 2025$-210M

Jun 2025$-192M

Sep 2025$-125M

Dec 2025$-122M

Mar 2026$-121M

Nexstar Media Group, Inc. · NXST

Jun 2021$7.6B

Sep 2021$7.6B

Dec 2021$7.4B

Mar 2022$7.3B

Jun 2022$7.3B

Sep 2022$7.2B

Dec 2022$7.0B

Mar 2023$7.0B

Jun 2023$6.9B

Sep 2023$6.9B

Dec 2023$6.8B

Mar 2024$6.6B

Jun 2024$6.7B

Sep 2024$6.5B

Dec 2024$6.4B

Mar 2025$6.3B

Jun 2025$6.1B

Sep 2025$6.2B

Dec 2025$6.1B

Mar 2026$12.1B

Sinclair, Inc. · SBGI

Jun 2021$11.8B

Sep 2021$11.7B

Dec 2021$11.8B

Mar 2022$4.1B

Jun 2022$4.0B

Sep 2022$3.8B

Dec 2022$3.6B

Mar 2023$3.8B

Jun 2023$3.7B

Sep 2023$3.7B

Dec 2023$3.7B

Mar 2024$3.7B

Jun 2024$3.9B

Sep 2024$3.8B

Dec 2024$3.6B

Mar 2025$3.7B

Jun 2025$3.6B

Sep 2025$3.7B

Dec 2025$3.7B

Mar 2026$3.7B

The E.W. Scripps Company · SSP

Jun 2021$3.3B

Sep 2021$3.2B

Dec 2021$3.2B

Mar 2022$3.2B

Jun 2022$3.1B

Sep 2022$3.1B

Dec 2022$3.0B

Mar 2023$3.0B

Jun 2023$3.0B

Sep 2023$3.0B

Dec 2023$3.0B

Mar 2024$2.9B

Jun 2024$2.9B

Sep 2024$2.8B

Dec 2024$2.6B

Mar 2025$2.7B

Jun 2025$2.7B

Sep 2025$2.7B

Dec 2025$2.7B

Mar 2026$2.5B

Urban One, Inc. · UONEK

Jun 2021$735M

Sep 2021$750M

Dec 2021$728M

Mar 2022$712M

Jun 2022$701M

Sep 2022$714M

Dec 2022$698M

Mar 2023$674M

Jun 2023$513M

Sep 2023$550M

Dec 2023$516M

Mar 2024$522M

Jun 2024$511M

Sep 2024$513M

Dec 2024$474M

Mar 2025$469M

Jun 2025$436M

Sep 2025$443M

Dec 2025—

Mar 2026—

06 · compare level, then change

Return On Capital Employed

TV Channels Network Inc. has the highest ROCE among the 11 Broadcasting companies compared here, at 94.5%. FreeCast, Inc. is next at 77.9%. FreeCast, Inc. has the highest ROCE change at +2875 percentage points, so level and change sit with different companies. 11 of 11 companies report a comparable reading, the latest through Mar 2026.

What the numbers say: TV Channels Network Inc. leads ROCE at 94.5%, 16.6 percentage points above FreeCast, Inc.. FreeCast, Inc. has the strongest latest improvement at +2875 percentage points. Read the leader beside the density of its reported history: a sparse high return is a candidate; a repeated high return is evidence of durability.

LeaderTV Channels Network Inc. · 94.5%

Gap21.3% versus #2 · FreeCast, Inc.

PersistenceNot enough history

Coverage11/11 companies · 173 observations

Investor read: TV Channels Network Inc. sets the level benchmark; use the change leader as an inflection watch only after another comparable report confirms it.

This conclusion weakens if: The next two comparable reports reverse the current roce change signal.

ROCE asks how much operating return the business earns on the capital employed. Direction matters, but a single exceptional year should not be mistaken for durability.

ROCEhighest

1TV Channels Network Inc. TVCN95%

2FreeCast, Inc. CAST78%

3Urban One, Inc. UONEK · older report7.2%

4Nexstar Media Group, Inc. NXST1.9%

5Gray Media, Inc. GTN-A0.8%

ROCE changefastest improvers

1FreeCast, Inc. CAST+2,875.0 pp

2Newsmax Inc. NMAX+8.6 pp

3FuboTV Inc. FUBO+4.8 pp

4iHeartMedia, Inc. IHRT+0.5 pp

5Sinclair, Inc. SBGI+0.2 pp

Return on capital · company comparison

11/11 level · 11/11 change

Solid lines show level; dotted lines show change when “Both” is selected. Missing reports break the line rather than being invented.

All-company data · latest reported quarter

Each figure is the company’s latest single reported quarter. The rankings above use trailing-twelve-month or current-market values, so a company can legitimately show a different number in each.

Company	ROCE	ROCE change	Reported
FreeCast, Inc. CAST	78%	+2,875.0 pp	Mar 2026
Urban One, Inc. UONEK	7.2%	−0.4 pp	Sep 2025
Nexstar Media Group, Inc. NXST	1.9%	−0.1 pp	Mar 2026
Gray Media, Inc. GTN-A	0.8%	−0.1 pp	Mar 2026
Sinclair, Inc. SBGI	0.5%	+0.2 pp	Mar 2026
The E.W. Scripps Company SSP	0.5%	−0.1 pp	Mar 2026
iHeartMedia, Inc. IHRT	0.0%	+0.5 pp	Mar 2026
FuboTV Inc. FUBO	-1.2%	+4.8 pp	Dec 2025
Newsmax Inc. NMAX	-2.6%	+8.6 pp	Mar 2026
CuriosityStream Inc. CURI	-3.0%	−3.1 pp	Mar 2026

Full 20-quarter history · every available company

ROCE · reported quarter history

CuriosityStream Inc. · CURI

Jun 2021—

Sep 2021-7.1%

Dec 2021-15%

Mar 2022-11%

Jun 2022-9.6%

Sep 2022-2.7%

Dec 2022-11%

Mar 2023-5.7%

Jun 2023-6.5%

Sep 2023-22%

Dec 2023-4.7%

Mar 2024-3.9%

Jun 2024-2.9%

Sep 2024-4.4%

Dec 2024-5.5%

Mar 20250.1%

Jun 20250.8%

Sep 2025-7.6%

Dec 2025-6.3%

Mar 2026-3.0%

FreeCast, Inc. · CAST

Jun 2021—

Sep 2021—

Dec 2021—

Mar 202264%

Jun 202264%

Sep 2022—

Dec 2022—

Mar 202353%

Jun 202368%

Sep 2023—

Dec 2023—

Mar 2024-172%

Jun 2024-307%

Sep 2024965%

Dec 20241,068%

Mar 2025-2,797%

Jun 2025-2,579%

Sep 2025139%

Dec 2025136%

Mar 202678%

FuboTV Inc. · FUBO

Jun 2021-9.4%

Sep 2021-14%

Dec 2021-13%

Mar 2022-12%

Jun 2022-9.3%

Sep 2022-11%

Dec 2022-1.5%

Mar 2023-8.1%

Jun 2023-5.6%

Sep 2023-9.9%

Dec 2023-9.3%

Mar 2024-8.3%

Jun 2024-4.8%

Sep 2024-8.6%

Dec 2024-6.0%

Mar 2025-4.0%

Jun 2025-0.9%

Sep 2025-2.7%

Dec 2025-1.2%

Mar 2026—

Gray Media, Inc. · GTN-A

Jun 2021—

Sep 20210.9%

Dec 20211.2%

Mar 20221.8%

Jun 20222.4%

Sep 20222.7%

Dec 20223.4%

Mar 20230.6%

Jun 20231.1%

Sep 20230.8%

Dec 20231.1%

Mar 20241.2%

Jun 20241.5%

Sep 20242.4%

Dec 20243.2%

Mar 20250.9%

Jun 20250.8%

Sep 20251.0%

Dec 20251.2%

Mar 20260.8%

iHeartMedia, Inc. · IHRT

Jun 2021—

Sep 20211.0%

Dec 20211.5%

Mar 20220.2%

Jun 20221.0%

Sep 2022-2.7%

Dec 20222.2%

Mar 2023-0.6%

Jun 2023-13%

Sep 20231.0%

Dec 20231.2%

Mar 2024-0.5%

Jun 2024-16%

Sep 20241.4%

Dec 20241.9%

Mar 2025-0.5%

Jun 20250.7%

Sep 2025-2.5%

Dec 20251.9%

Mar 20260.0%

Newsmax Inc. · NMAX

Jun 2021—

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022—

Dec 2022—

Mar 2023—

Jun 2023—

Sep 20230.0%

Dec 20230.0%

Mar 2024—

Jun 2024—

Sep 2024-41%

Dec 2024-25%

Mar 2025-11%

Jun 2025-93%

Sep 2025-7.7%

Dec 2025-5.1%

Mar 2026-2.6%

Nexstar Media Group, Inc. · NXST

Jun 2021—

Sep 20212.2%

Dec 20212.6%

Mar 20222.6%

Jun 20222.7%

Sep 20222.9%

Dec 20222.4%

Mar 20231.7%

Jun 20231.5%

Sep 20230.8%

Dec 20232.0%

Mar 20242.4%

Jun 20242.1%

Sep 20243.0%

Dec 20243.8%

Mar 20252.0%

Jun 20252.0%

Sep 20251.6%

Dec 20252.3%

Mar 20261.9%

Sinclair, Inc. · SBGI

Jun 2021—

Sep 20210.6%

Dec 20210.6%

Mar 202238%

Jun 2022-1.2%

Sep 20221.7%

Dec 20222.9%

Mar 20230.4%

Jun 2023-0.1%

Sep 20230.7%

Dec 2023-7.0%

Mar 20240.8%

Jun 20241.2%

Sep 20243.4%

Dec 20245.2%

Mar 20250.3%

Jun 20250.4%

Sep 20251.2%

Dec 20251.5%

Mar 20260.5%

The E.W. Scripps Company · SSP

Jun 2021—

Sep 20212.5%

Dec 20212.3%

Mar 20221.1%

Jun 20221.5%

Sep 20221.7%

Dec 20222.7%

Mar 20230.3%

Jun 2023-11%

Sep 20230.9%

Dec 2023-3.7%

Mar 20240.8%

Jun 20241.1%

Sep 20242.4%

Dec 20244.0%

Mar 20250.6%

Jun 20251.6%

Sep 20250.8%

Dec 20250.9%

Mar 20260.5%

Urban One, Inc. · UONEK

Jun 202112%

Sep 202112%

Dec 20219.7%

Mar 202211%

Jun 202212%

Sep 202212%

Dec 202211%

Mar 202310%

Jun 20239.6%

Sep 20239.9%

Dec 20239.1%

Mar 20248.5%

Jun 20248.2%

Sep 20247.6%

Dec 20249.2%

Mar 20259.0%

Jun 20259.5%

Sep 20257.2%

Dec 2025—

Mar 2026—

ROCE change · reported quarter history

CuriosityStream Inc. · CURI

Jun 2021—

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022+4.4 pp

Dec 2022+4.7 pp

Mar 2023+5.2 pp

Jun 2023+3.1 pp

Sep 2023−19.1 pp

Dec 2023+5.8 pp

Mar 2024+1.8 pp

Jun 2024+3.6 pp

Sep 2024+17.4 pp

Dec 2024−0.8 pp

Mar 2025+4.0 pp

Jun 2025+3.7 pp

Sep 2025−3.2 pp

Dec 2025−0.8 pp

Mar 2026−3.1 pp

FreeCast, Inc. · CAST

Jun 2021—

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022—

Dec 2022—

Mar 2023−11.6 pp

Jun 2023+3.6 pp

Sep 2023—

Dec 2023—

Mar 2024−224.5 pp

Jun 2024−374.9 pp

Sep 2024—

Dec 2024—

Mar 2025−2,625.2 pp

Jun 2025−2,272.3 pp

Sep 2025−825.6 pp

Dec 2025−932.0 pp

Mar 2026+2,875.0 pp

FuboTV Inc. · FUBO

Jun 2021—

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022+0.1 pp

Sep 2022+2.7 pp

Dec 2022+11.7 pp

Mar 2023+3.5 pp

Jun 2023+3.7 pp

Sep 2023+1.5 pp

Dec 2023−7.8 pp

Mar 2024−0.2 pp

Jun 2024+0.8 pp

Sep 2024+1.3 pp

Dec 2024+3.3 pp

Mar 2025+4.3 pp

Jun 2025+3.9 pp

Sep 2025+5.9 pp

Dec 2025+4.8 pp

Mar 2026—

Gray Media, Inc. · GTN-A

Jun 2021—

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022+1.8 pp

Dec 2022+2.2 pp

Mar 2023−1.2 pp

Jun 2023−1.3 pp

Sep 2023−1.9 pp

Dec 2023−2.3 pp

Mar 2024+0.6 pp

Jun 2024+0.4 pp

Sep 2024+1.6 pp

Dec 2024+2.1 pp

Mar 2025−0.3 pp

Jun 2025−0.7 pp

Sep 2025−1.4 pp

Dec 2025−2.0 pp

Mar 2026−0.1 pp

iHeartMedia, Inc. · IHRT

Jun 2021—

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022−3.7 pp

Dec 2022+0.7 pp

Mar 2023−0.8 pp

Jun 2023−13.6 pp

Sep 2023+3.7 pp

Dec 2023−1.0 pp

Mar 2024+0.1 pp

Jun 2024−3.5 pp

Sep 2024+0.4 pp

Dec 2024+0.7 pp

Mar 20250.0 pp

Jun 2025+16.8 pp

Sep 2025−3.9 pp

Dec 20250.0 pp

Mar 2026+0.5 pp

Newsmax Inc. · NMAX

Jun 2021—

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022—

Dec 2022—

Mar 2023—

Jun 2023—

Sep 2023—

Dec 2023—

Mar 2024—

Jun 2024—

Sep 2024−40.7 pp

Dec 2024−25.1 pp

Mar 2025—

Jun 2025—

Sep 2025+33.0 pp

Dec 2025+20.0 pp

Mar 2026+8.6 pp

Nexstar Media Group, Inc. · NXST

Jun 2021—

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022+0.7 pp

Dec 2022−0.2 pp

Mar 2023−0.9 pp

Jun 2023−1.2 pp

Sep 2023−2.1 pp

Dec 2023−0.4 pp

Mar 2024+0.7 pp

Jun 2024+0.6 pp

Sep 2024+2.2 pp

Dec 2024+1.8 pp

Mar 2025−0.4 pp

Jun 2025−0.1 pp

Sep 2025−1.4 pp

Dec 2025−1.5 pp

Mar 2026−0.1 pp

Sinclair, Inc. · SBGI

Jun 2021—

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022+1.1 pp

Dec 2022+2.3 pp

Mar 2023−37.5 pp

Jun 2023+1.1 pp

Sep 2023−1.0 pp

Dec 2023−9.9 pp

Mar 2024+0.4 pp

Jun 2024+1.3 pp

Sep 2024+2.7 pp

Dec 2024+12.2 pp

Mar 2025−0.5 pp

Jun 2025−0.8 pp

Sep 2025−2.2 pp

Dec 2025−3.7 pp

Mar 2026+0.2 pp

The E.W. Scripps Company · SSP

Jun 2021—

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022−0.8 pp

Dec 2022+0.4 pp

Mar 2023−0.8 pp

Jun 2023−12.5 pp

Sep 2023−0.8 pp

Dec 2023−6.4 pp

Mar 2024+0.5 pp

Jun 2024+12.1 pp

Sep 2024+1.5 pp

Dec 2024+7.7 pp

Mar 2025−0.2 pp

Jun 2025+0.5 pp

Sep 2025−1.6 pp

Dec 2025−3.1 pp

Mar 2026−0.1 pp

Urban One, Inc. · UONEK

Jun 2021—

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022+0.2 pp

Sep 2022+0.1 pp

Dec 2022+1.2 pp

Mar 2023−0.8 pp

Jun 2023−2.1 pp

Sep 2023−1.7 pp

Dec 2023−1.8 pp

Mar 2024−1.8 pp

Jun 2024−1.4 pp

Sep 2024−2.3 pp

Dec 2024+0.1 pp

Mar 2025+0.5 pp

Jun 2025+1.3 pp

Sep 2025−0.4 pp

Dec 2025—

Mar 2026—

07 · compare level, then change

Valuation Against Growth & Quality

Nexstar Media Group, Inc. has the lowest Guarded PEG among the 11 Broadcasting companies compared here, at 0.17×. FuboTV Inc. has the lowest P/E at 5.6×, so level and change sit with different companies. 1 of 11 companies report a comparable reading, the latest through Mar 2026.

What the numbers say: Nexstar Media Group, Inc. has the lowest comparable Guarded PEG at 0.17×. Only 1 of 11 companies pass the guard, so no broad “cheapest stock” conclusion is defensible unless the current multiple, own-history position and growth durability agree.

LeaderNexstar Media Group, Inc. · 0.17×

GapNot enough peers

Persistence0/8 recent comparable periods

Coverage1/11 companies · 3 observations

Investor read: Treat valuation as permission to investigate, never as a standalone reason to buy.

This conclusion weakens if: The next two comparable reports reverse the current p/e signal.

PEG is shown only when earnings are positive and three-year EPS growth is between 5% and 60%. It is recomputed consistently as the trailing P/E divided by that growth rate — reported earnings, never an expected-earnings multiple. On Indian companies it is shown only where the two data sources reconciled. A missing PEG is more honest than a low-base fiction.

Guarded PEGlowest PEG

1Nexstar Media Group, Inc. NXST0.2

P/Elowest P/E

1FuboTV Inc. FUBO5.6

2The E.W. Scripps Company SSP6.1

3Urban One, Inc. UONEK · older report8.5

4Gray Media, Inc. GTN-A14.1

5iHeartMedia, Inc. IHRT14.3

Valuation · company comparison

1/11 level · 7/11 change

Solid lines show level; dotted lines show change when “Both” is selected. Missing reports break the line rather than being invented.

All-company data · latest reported quarter

Each figure is the company’s latest single reported quarter. The rankings above use trailing-twelve-month or current-market values, so a company can legitimately show a different number in each.

Company	Guarded PEG	P/E	Reported
Nexstar Media Group, Inc. NXST	0.2	38.8	Mar 2026
Urban One, Inc. UONEK	0.1	8.5	Sep 2025
Sinclair, Inc. SBGI	—	14.4	Mar 2026
iHeartMedia, Inc. IHRT	—	14.4	Mar 2026
Gray Media, Inc. GTN-A	—	14.1	Mar 2026
The E.W. Scripps Company SSP	—	6.1	Mar 2026
FuboTV Inc. FUBO	—	5.6	Dec 2025

Full 20-quarter history · every available company

Guarded PEG · reported quarter history

Nexstar Media Group, Inc. · NXST

Jun 2021—

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022—

Dec 2022—

Mar 2023—

Jun 2023—

Sep 2023—

Dec 2023—

Mar 2024—

Jun 2024—

Sep 20240.2

Dec 2024—

Mar 2025—

Jun 20250.2

Sep 2025—

Dec 2025—

Mar 2026—

Urban One, Inc. · UONEK

Jun 2021—

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022—

Dec 2022—

Mar 2023—

Jun 20230.1

Sep 2023—

Dec 2023—

Mar 2024—

Jun 2024—

Sep 2024—

Dec 2024—

Mar 2025—

Jun 2025—

Sep 2025—

Dec 2025—

Mar 2026—

P/E · reported quarter history

FuboTV Inc. · FUBO

Jun 2021—

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022—

Dec 2022—

Mar 2023—

Jun 2023—

Sep 2023—

Dec 2023—

Mar 2024—

Jun 2024—

Sep 2024—

Dec 2024—

Mar 202515.4

Jun 202515.4

Sep 202511.5

Dec 20255.6

Mar 2026—

Gray Media, Inc. · GTN-A

Jun 2021—

Sep 20219.4

Dec 202150.4

Mar 202234.5

Jun 202213.2

Sep 20225.4

Dec 20222.6

Mar 20232.6

Jun 20233.4

Sep 20239.5

Dec 2023—

Mar 2024—

Jun 202474.3

Sep 20243.6

Dec 20240.9

Mar 20251.9

Jun 20253.0

Sep 202514.1

Dec 2025—

Mar 2026—

iHeartMedia, Inc. · IHRT

Jun 2021—

Sep 2021—

Dec 2021—

Mar 202282.3

Jun 202214.4

Sep 2022—

Dec 2022—

Mar 2023—

Jun 2023—

Sep 2023—

Dec 2023—

Mar 2024—

Jun 2024—

Sep 2024—

Dec 2024—

Mar 2025—

Jun 2025—

Sep 2025—

Dec 2025—

Mar 2026—

Nexstar Media Group, Inc. · NXST

Jun 2021—

Sep 20217.3

Dec 20218.0

Mar 20229.2

Jun 20227.5

Sep 20226.7

Dec 20227.2

Mar 20238.2

Jun 20239.2

Sep 202312.4

Dec 202316.3

Mar 202414.6

Jun 202413.1

Sep 20249.6

Dec 20247.4

Mar 20259.1

Jun 20259.0

Sep 202512.3

Dec 202567.7

Mar 202638.8

Sinclair, Inc. · SBGI

Jun 2021—

Sep 202116.3

Dec 2021—

Mar 20220.9

Jun 20220.6

Sep 20220.5

Dec 20220.4

Mar 20234.8

Jun 20235.8

Sep 20238.6

Dec 2023—

Mar 2024—

Jun 2024—

Sep 2024—

Dec 20243.4

Mar 20257.9

Jun 202516.7

Sep 2025—

Dec 2025—

Mar 202614.4

The E.W. Scripps Company · SSP

Jun 2021—

Sep 202111.0

Dec 202123.9

Mar 202222.4

Jun 20229.3

Sep 20229.2

Dec 20228.1

Mar 20238.0

Jun 2023—

Sep 2023—

Dec 2023—

Mar 2024—

Jun 2024—

Sep 2024—

Dec 20242.2

Mar 20253.2

Jun 20256.1

Sep 2025—

Dec 2025—

Mar 2026—

Urban One, Inc. · UONEK

Jun 20219.1

Sep 20216.2

Dec 20215.0

Mar 20225.1

Jun 20224.5

Sep 20225.0

Dec 2022—

Mar 2023—

Jun 20234.2

Sep 2023—

Dec 2023—

Mar 20248.5

Jun 2024—

Sep 2024—

Dec 2024—

Mar 2025—

Jun 2025—

Sep 2025—

Dec 2025—

Mar 2026—

08 · compare level, then change

Enterprise Value & Book Value

Urban One, Inc. has the lowest EV/EBITDA among the 11 Broadcasting companies compared here, at 7.49×. The E.W. Scripps Company is next at 10×. Gray Media, Inc. has the lowest P/BV at 0.21×, so level and change sit with different companies. 7 of 11 companies report a comparable reading, the latest through Sep 2025.

What the numbers say: Urban One, Inc. leads ev/ebitda at 7.49×; Gray Media, Inc. leads p/bv at 0.21×.

LeaderUrban One, Inc. · 7.49×

Gap25.1% versus #2 · The E.W. Scripps Company

Persistence0/8 recent comparable periods

Coverage7/11 companies · 110 observations

Investor read: Treat valuation as permission to investigate, never as a standalone reason to buy.

This conclusion weakens if: The next two comparable reports reverse the current p/bv signal.

EV/EBITDA includes debt in enterprise value and is useful across different capital structures. P/BV prices the company against its own book. Both are market multiples on reported figures, not intrinsic-value estimates and not forecasts.

EV/EBITDAlowest EV/EBITDA

1Urban One, Inc. UONEK · older report7.5

2The E.W. Scripps Company SSP10.0

3Gray Media, Inc. GTN-A10.7

4Nexstar Media Group, Inc. NXST13.8

5iHeartMedia, Inc. IHRT17.3

P/BVlowest P/BV

1Gray Media, Inc. GTN-A0.2

2The E.W. Scripps Company SSP0.3

3Urban One, Inc. UONEK · older report0.4

4Sinclair, Inc. SBGI2.0

5Nexstar Media Group, Inc. NXST2.6

Enterprise and book valuation · company comparison

7/11 level · 8/11 change

Solid lines show level; dotted lines show change when “Both” is selected. Missing reports break the line rather than being invented.

All-company data · latest reported quarter

Each figure is the company’s latest single reported quarter. The rankings above use trailing-twelve-month or current-market values, so a company can legitimately show a different number in each.

Company	EV/EBITDA	P/BV	Reported
CuriosityStream Inc. CURI	26.8	4.8	Mar 2026
Sinclair, Inc. SBGI	18.0	2.0	Mar 2026
iHeartMedia, Inc. IHRT	17.3	-0.2	Mar 2026
Nexstar Media Group, Inc. NXST	13.8	2.6	Mar 2026
Gray Media, Inc. GTN-A	10.7	0.2	Mar 2026
The E.W. Scripps Company SSP	10.0	0.3	Mar 2026
Urban One, Inc. UONEK	7.5	0.4	Sep 2025
Newsmax Inc. NMAX	—	6.3	Mar 2026
FuboTV Inc. FUBO	—	3.2	Dec 2025
FreeCast, Inc. CAST	—	-26.1	Mar 2026

Full 20-quarter history · every available company

EV/EBITDA · reported quarter history

CuriosityStream Inc. · CURI

Jun 2021—

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022—

Dec 20223.3

Mar 2023—

Jun 2023—

Sep 2023—

Dec 20230.2

Mar 2024—

Jun 2024—

Sep 202413.1

Dec 20249.5

Mar 202515.2

Jun 202530.1

Sep 202536.7

Dec 202527.1

Mar 202626.8

Gray Media, Inc. · GTN-A

Jun 2021—

Sep 20218.9

Dec 202115.3

Mar 202216.1

Jun 202212.2

Sep 20229.2

Dec 20226.2

Mar 20237.5

Jun 20238.3

Sep 20239.9

Dec 202310.7

Mar 202413.0

Jun 202412.5

Sep 20249.7

Dec 20245.8

Mar 20256.1

Jun 20256.5

Sep 20258.0

Dec 202510.5

Mar 202610.7

iHeartMedia, Inc. · IHRT

Jun 2021—

Sep 202116.6

Dec 202114.8

Mar 202212.5

Jun 20229.7

Sep 202215.5

Dec 202213.7

Mar 202317.1

Jun 2023—

Sep 2023—

Dec 2023—

Mar 2024—

Jun 202415.1

Sep 2024—

Dec 2024—

Mar 202515.9

Jun 202516.6

Sep 202517.8

Dec 202519.6

Mar 202617.3

Nexstar Media Group, Inc. · NXST

Jun 2021—

Sep 20217.6

Dec 20216.2

Mar 20229.9

Jun 20229.7

Sep 202210.1

Dec 20226.8

Mar 20236.8

Jun 20236.7

Sep 20236.8

Dec 20237.3

Mar 20247.4

Jun 20247.2

Sep 20246.3

Dec 20245.4

Mar 20256.0

Jun 20256.0

Sep 20257.0

Dec 20257.5

Mar 202613.8

Sinclair, Inc. · SBGI

Jun 2021—

Sep 202112.4

Dec 202128.1

Mar 202210.3

Jun 20226.9

Sep 20226.8

Dec 20221.1

Mar 20237.1

Jun 20236.4

Sep 20237.5

Dec 2023—

Mar 2024—

Jun 2024296.8

Sep 202430.3

Dec 20245.7

Mar 20256.2

Jun 20259.4

Sep 20257.8

Dec 20259.6

Mar 202618.0

The E.W. Scripps Company · SSP

Jun 2021—

Sep 20218.2

Dec 20218.8

Mar 20228.8

Jun 20227.9

Sep 20227.8

Dec 20227.3

Mar 20237.6

Jun 2023—

Sep 2023—

Dec 2023—

Mar 2024—

Jun 202433.9

Sep 202419.4

Dec 20245.7

Mar 20256.0

Jun 20255.8

Sep 20256.8

Dec 202510.1

Mar 202610.0

Urban One, Inc. · UONEK

Jun 20217.8

Sep 20217.8

Dec 20217.4

Mar 20227.1

Jun 20226.6

Sep 20226.4

Dec 20226.3

Mar 20237.5

Jun 20238.0

Sep 20238.0

Dec 20236.8

Mar 20247.0

Jun 20247.0

Sep 20247.5

Dec 20246.5

Mar 20256.1

Jun 20256.9

Sep 20257.5

Dec 2025—

Mar 2026—

P/BV · reported quarter history

CuriosityStream Inc. · CURI

Jun 2021—

Sep 20213.2

Dec 20211.9

Mar 20221.0

Jun 20220.7

Sep 20220.6

Dec 20220.0

Mar 20230.6

Jun 20230.5

Sep 20230.5

Dec 20230.4

Mar 20240.9

Jun 20241.0

Sep 20241.7

Dec 20241.5

Mar 20252.6

Jun 20256.5

Sep 20256.5

Dec 20255.4

Mar 20264.8

FreeCast, Inc. · CAST

Jun 2021—

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022—

Dec 2022—

Mar 2023—

Jun 2023—

Sep 2023—

Dec 2023—

Mar 2024—

Jun 2024—

Sep 2024—

Dec 2024—

Mar 2025—

Jun 2025—

Sep 2025—

Dec 2025—

Mar 2026-26.1

FuboTV Inc. · FUBO

Jun 20217.5

Sep 20215.8

Dec 20213.5

Mar 20221.7

Jun 20220.8

Sep 20221.4

Dec 20220.9

Mar 20230.8

Jun 20231.4

Sep 20232.3

Dec 20233.2

Mar 20241.9

Jun 20241.5

Sep 20242.0

Dec 20242.2

Mar 20252.5

Jun 20253.2

Sep 20251.6

Dec 20253.2

Mar 2026—

Gray Media, Inc. · GTN-A

Jun 2021—

Sep 20211.2

Dec 20211.1

Mar 20221.2

Jun 20220.9

Sep 20220.7

Dec 20220.5

Mar 20230.4

Jun 20230.4

Sep 20230.3

Dec 20230.4

Mar 20240.3

Jun 20240.3

Sep 20240.3

Dec 20240.1

Mar 20250.2

Jun 20250.2

Sep 20250.3

Dec 20250.2

Mar 20260.2

iHeartMedia, Inc. · IHRT

Jun 2021—

Sep 20214.5

Dec 20213.3

Mar 20223.1

Jun 20221.3

Sep 20221.8

Dec 20221.3

Mar 20231.2

Jun 2023-1.3

Sep 2023-1.1

Dec 2023-1.0

Mar 2024-0.8

Jun 2024-0.1

Sep 2024-0.2

Dec 2024-0.2

Mar 2025-0.2

Jun 2025-0.2

Sep 2025-0.2

Dec 2025-0.3

Mar 2026-0.2

Newsmax Inc. · NMAX

Jun 2021—

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022—

Dec 2022—

Mar 2023—

Jun 2023—

Sep 2023—

Dec 2023—

Mar 2024—

Jun 2024—

Sep 2024—

Dec 2024—

Mar 202560.4

Jun 202518.3

Sep 202515.1

Dec 20259.4

Mar 20266.3

Nexstar Media Group, Inc. · NXST

Jun 2021—

Sep 20212.4

Dec 20212.2

Mar 20222.6

Jun 20222.2

Sep 20222.2

Dec 20222.4

Mar 20232.4

Jun 20232.3

Sep 20232.1

Dec 20232.3

Mar 20242.5

Jun 20242.4

Sep 20242.4

Dec 20242.1

Mar 20252.4

Jun 20252.3

Sep 20252.6

Dec 20253.0

Mar 20262.6

Sinclair, Inc. · SBGI

Jun 2021—

Sep 2021-1.5

Dec 2021-1.1

Mar 20222.6

Jun 20222.0

Sep 20221.8

Dec 20221.4

Mar 20231.3

Jun 20231.2

Sep 20231.1

Dec 20232.9

Mar 20242.7

Jun 20242.6

Sep 20242.5

Dec 20241.8

Mar 20252.5

Jun 20252.7

Sep 20253.0

Dec 20252.4

Mar 20262.0

The E.W. Scripps Company · SSP

Jun 2021—

Sep 20210.7

Dec 20210.7

Mar 20220.8

Jun 20220.4

Sep 20220.4

Dec 20220.4

Mar 20230.3

Jun 20230.5

Sep 20230.3

Dec 20230.5

Mar 20240.3

Jun 20240.2

Sep 20240.1

Dec 20240.1

Mar 20250.2

Jun 20250.2

Sep 20250.2

Dec 20250.3

Mar 20260.3

Urban One, Inc. · UONEK

Jun 20211.1

Sep 20211.4

Dec 20210.6

Mar 20221.0

Jun 20220.8

Sep 20220.7

Dec 20220.5

Mar 20230.8

Jun 20230.8

Sep 20230.8

Dec 20230.6

Mar 20240.4

Jun 20240.3

Sep 20240.3

Dec 20240.3

Mar 20250.2

Jun 20250.4

Sep 20250.4

Dec 2025—

Mar 2026—

09 · let price answer last

Market action

iHeartMedia, Inc. has the strongest one-year price move in Broadcasting at +96.1%. It also leads on Mansfield relative strength against the S&P 500 at -7.6%. 0 of 9 covered companies are above zero on that measure. Every line covers 314 weekly closes through 2026-07-28.

Every price line is indexed to 100 over the chosen window. Mansfield relative strength compares a price ratio with its own 52-week average; zero separates leadership from lagging.

Price and relative strength

Price is rebased to 100 inside the selected window. Pair ratio rebases each selected company against one chosen denominator.

Before the conclusion · check the blind spots

What can make this comparison misleading?

This Broadcasting comparison names 6 specific ways its own evidence can mislead, all listed below. 1 of the 11 companies reports on an older date than the sector's freshest reporters, so its rank is marked stale. 1 of the 8 ranked sections has fewer than three usable current readings. A high growth rate can still be a low-base artefact.

Keep these limits visible

A high growth rate can be a low-base artefact. The page keeps level and change separate for that reason.
A high ROCE can be temporary or flattered by a small capital base. Read it beside margin, cash conversion and reinvestment.
The 4-Factor Sector Score ranks research priority, not portfolio action. Management quality, catalysts and risks need equally fresh evidence before capital is deployed.
An “all companies” line chart preserves completeness, but rank changes should be checked against reporting dates before drawing a conclusion.
1 company has an older fundamental reporting date than the sector’s freshest reporters; its rank carries a stale marker.
Thin comparisons: Valuation have fewer than three usable current readings.

10 · the complete set

Which companies are included?

All 11 companies in the canonical Broadcasting membership are listed below, largest market value first — nothing is silently dropped, even where a company reports too little to rank. The charts above default to a selective view; this register is the complete set, with each company's own latest reporting date beside it.

AHEAD means the company is beating the index by 5% or more over three months. LAGGING, FUNDAMENTALS UP means it is 20% or more behind over a year while its trailing twelve-month earnings grew 20% or more. Both rules are fixed and applied the same way in every sector.

Company	Market value	Price	Priced to	Latest fundamentals
Nexstar Media Group, Inc. NXST	$5.9B	$194	2026-07-28	Mar 2026
Newsmax Inc. NMAXAHEAD	$1.0B	$8.0	2026-07-28	Mar 2026
Sinclair, Inc. SBGI	$1.0B	$14.1	2026-07-28	Mar 2026
iHeartMedia, Inc. IHRT	$554M	$3.6	2026-07-28	Mar 2026
Gray Media, Inc. GTN-A	$428M	$6.5	2026-07-28	Mar 2026
The E.W. Scripps Company SSP	$282M	$3.1	2026-07-28	Mar 2026
FuboTV Inc. FUBO	$266M	$9.0	2026-07-28	Dec 2025
Urban One, Inc. UONEK	$220M	$5.0	2026-07-28	Sep 2025
TV Channels Network Inc. TVCN	$185M	—	—	—
CuriosityStream Inc. CURI	$145M	$2.4	2026-07-28	Mar 2026
FreeCast, Inc. CAST	$96M	$3.4	2026-07-10	Mar 2026

Evidence and freshness

How was this comparison built?

This comparison is built from the reported filings of 11 Broadcasting companies, normalized to a common $ scale and a shared quarter axis of up to 20 quarters each. Fundamentals run through Mar 2026 and market data through 2026-07-28. A second data feed fills gaps only after identity and scale reconciliation, and missing observations are never interpolated.

FundamentalsThrough Mar 2026 · up to 20 quarters per company

Market dataThrough 2026-07-28 · weekly price and relative-strength history

Derived metricsGrowth, changes, CAPEX intensity, net debt, guarded PEG and P/BV÷ROE are calculated only when their inputs are comparable.

Score confidenceMissing and stale evidence reduces confidence and pulls the 0–100 research-priority score toward neutral.

Questions investors ask · short, speakable answers

Broadcasting company comparison FAQs

These 18 answers restate the Broadcasting comparison above in question form. Every one is computed from the same 11 companies and the same reported filings as the rankings and charts, current through Mar 2026. Price and relative-strength answers run through 2026-07-28. Nothing here is estimated, and none of it is a recommendation.

Which Broadcasting company is the biggest?

Nexstar Media Group, Inc. is the largest, with trailing-twelve-month revenue of $5,112 million, ahead of iHeartMedia, Inc. at $3,942 million. That covers 10 of 11 companies with comparable reporting through Mar 2026.

Which Broadcasting company is growing fastest?

CuriosityStream Inc. has the fastest revenue growth at 31.5% year on year, across 9 of 11 comparable companies. Fast growth off a small base is not the same as proven scale — check whether the rate holds across several quarters on the chart above before treating it as a trend.

Which Broadcasting company has the best profit margins?

Nexstar Media Group, Inc. has the highest operating margin at 19%, from 9 of 11 comparable companies. Newsmax Inc. shows the biggest recent improvement, at +16.8 percentage points. A high margin matters most when it is holding or rising, not when it is peaking.

Which Broadcasting company makes the most profit?

FuboTV Inc. earns the most, at $304 million of trailing-twelve-month net profit, from 10 of 11 comparable companies. Nexstar Media Group, Inc. has the fastest profit growth at -76.2%, though growth off a small or recovering profit base overstates how much has actually changed.

Which Broadcasting company earns the highest return on capital?

TV Channels Network Inc. leads on return on capital employed at 94.5%, across 11 of 11 companies. Read it beside the length of its reported history: a high return that repeats for years is evidence of a durable business, while a single high reading can be a small capital base or one good year.

Which Broadcasting stock is the cheapest?

On guarded PEG — where a LOWER number is cheaper — Nexstar Media Group, Inc. screens cheapest at 0.17×. Only 1 of 11 companies pass the comparability guard, so this is not a sector-wide "cheapest stock" verdict. Cheap on a multiple is a reason to investigate, never a reason to buy on its own.

Which Broadcasting company has the strongest balance sheet?

CuriosityStream Inc. carries the lowest comparable gross debt at $3 million, from 10 of 11 companies. Absolute rupee debt alone does not settle it, because company scale differs — net debt and debt-to-equity in the chart above carry more information, and a very low-debt balance sheet can also mean under-investment.

Which Broadcasting company is investing most in new capacity?

iHeartMedia, Inc. reports the largest capital spending at $22 million, across 10 of 11 companies. Spending consumes cash before it earns anything, so treat the ranking as a diligence queue: check commissioning, utilisation and the return earned on the completed assets before reading spend as value creation.

Is the Broadcasting sector beating the market?

Broadcasting has outperformed S&P 500 by 1% over the last 52 weeks and 11% over 13 weeks, measured on an equal-weight index of its current members. Inside the sector, 0 of 9 covered companies are beating the market on their own. Sector strength does not transfer evenly to every stock in it.

Which Broadcasting stock has the strongest price momentum?

iHeartMedia, Inc. has the strongest relative strength against S&P 500. Relative strength answers last, after growth, quality and valuation: price can move well before the fundamentals confirm it, and sometimes without them confirming at all.

Which Broadcasting company scores highest for research priority?

Newsmax Inc. scores 52.2 out of 100 with 58.7% evidence confidence, from 24.4 points on growth and earnings, 9.1 on capital efficiency, 10 on valuation and 8.7 on relative strength. This ranks what deserves work next. It is not a buy recommendation, and management quality, catalysts and risk still need separate research.

How many Broadcasting companies does this comparison cover, and over what period?

It compares 11 listed companies over up to 20 reported quarters of fundamentals and 6 fiscal years of capital allocation, ending Mar 2026, plus weekly price and relative-strength history. Membership is the full sector list — nothing is dropped for having thin data.

What is the total market cap of the Broadcasting sector?

The 11 Broadcasting companies on this page carry $10,142 million of combined market value. Nexstar Media Group, Inc. is the largest at $5,918 million, about 58% of the sector's total on its own. Market value moves with price, so this reading is dated 2026-07-28.

What is the Broadcasting sector's P/E ratio?

The median price-to-earnings ratio across the 11 Broadcasting companies on this page is 14.1×, measured on the 7 that report a comparable figure. A sector-level history for this multiple is not held here, so this is a cross-section of today, not a comparison with the sector’s own past. Figures are as of 2026-07-28.

How is the Broadcasting sector performing?

0 of the 9 covered Broadcasting companies are beating S&P 500 on Mansfield relative strength. The sector itself is 1% ahead of S&P 500 over 52 weeks on an equal-weight index of its current members. Readings are as of 2026-07-28.

How many Broadcasting stocks are listed in the US?

This comparison covers 11 listed Broadcasting companies in the US, each above the size floor the site applies. The full ranked list is on this page, with reported fundamentals through Mar 2026. Membership is the full industry list — nothing is dropped for having thin data.

Why are some values on this page blank?

A blank means that company did not report a comparable figure for that period, so nothing is shown. Missing observations are never interpolated, carried forward, or replaced with a similar-looking accounting line, and a company with missing evidence has its research score pulled toward neutral rather than being scored as bad.

Is this investment advice?

No. Every figure here is a deterministic calculation from reported company filings and market data, published for research. It contains no recommendation to buy or sell any security, does not account for your circumstances, and is not a substitute for advice from a licensed adviser.