Nexstar Media Group Inc (NASDAQ:NXST) reported a Q3 FY23 net revenue decline of 10.8% Y/Y to $1.13 billion, missing the consensus of $1.17 billion. The decline was due to a decrease in cyclical political advertising and the temporary removal of stations from an MVPD. Television Advertising revenues fell 22.5% Y/Y to $410 million. The company returned $246 million to shareholders through repurchases worth $199 million and quarterly cash dividend payments of $47 million. Nexstar shares are trading lower by 3.15% at $146.69.