v3.26.3
Debt (Tables)
 9 Months Ended
Sep. 30, 2026
Debt Disclosure [Abstract]  
Long Term Debt

Long-term debt consisted of the following ($ in millions):

Nexstar’s outstanding term loans and revolving loans are governed by Nexstar’s credit agreement (as amended, the “Nexstar credit agreement”), and Mission’s outstanding term loans and revolving loans are governed by Mission’s credit agreement (as amended, the “Mission credit agreement”). Each of the amended credit agreements is also herein referred to as a “senior secured credit facility” (collectively, the “senior secured credit facilities”). Nexstar’s senior secured and senior unsecured notes, including the notes assumed in connection with the TEGNA acquisition, are governed by the indentures.

 

September 30, 2026

 

 

December 31, 2025

 

Nexstar

 

 

 

 

 

 

  Secured debt

 

 

 

 

 

 

     Revolving loans due 2030

 

$

292

 

 

$

144

 

     Term Loan A due 2030

 

 

1,786

 

 

 

1,857

 

     Term Loan B due 2032

 

 

1,287

 

 

 

1,297

 

     Term Loan B due 2033

 

 

1,200

 

 

 

-

 

7.75% Notes due 2027 (1)

 

 

200

 

 

 

-

 

7.25% Notes due 2027 (1)

 

 

240

 

 

 

-

 

6.50% Secured Notes due 2033

 

 

3,390

 

 

 

-

 

  Unsecured debt

 

 

 

 

 

 

5.625% Notes due 2027

 

 

-

 

 

 

1,714

 

4.75% Notes due 2028

 

 

1,000

 

 

 

1,000

 

5.00% Notes due 2029

 

 

60

 

 

 

-

 

7.25% Notes due 2034

 

 

1,725

 

 

 

-

 

Mission

 

 

 

 

 

 

     Revolving loans due 2030

 

 

62

 

 

 

62

 

     Term Loan B due 2028

 

 

285

 

 

 

287

 

Total outstanding principal

 

 

11,527

 

 

 

6,361

 

Less: unamortized financing costs and discount, net of premium

 

 

(118

)

 

 

(28

)

     Total outstanding debt

 

 

11,409

 

 

 

6,333

 

Less: current portion

 

 

(556

)

 

 

(111

)

     Long-term debt, net of current portion

 

$

10,853

 

 

$

6,222

 
(1)
Following the closing of the TEGNA acquisition, the notes were secured by the Company.