For investors looking for defensive plays heading into 2020, dividend-paying local broadcast station groups could be an interesting option to keep in mind. Though I'm not enamored with everything I see in Nexstar (NXST) right now, I believe value investors looking for passive income can make a fairly safe bet buying shares in Nexstar.
Though still strong, revenue is down without political in 2019
While the broadcast television industry has gone through a large consolidation phase the last few years, the station acquisitions for Nexstar have likely been capped without significant changes to local broadcast