Raises For Everyone at Nexstar?

If you listened to the suit-and-ties over at Nexstar, you’d think they were throwing money at everyone.

Nexstar Media Group posted its second-quarter earnings report on Thursday, and surprise—they’re rolling in green. The company recorded a whopping $2.0 billion in net revenue for the quarter, bringing in $113 million in net income and $633 million in adjusted EBITDA.

Where did all that cash come from? Nexstar points to its bloated footprint following the Tenga acquisition, a massive surge in political ad dollars, streaming growth, and a nice little windfall from FIFA World Cup ads on its Fox affiliates. They also patted themselves on the back for growth at NewsNation and new distribution efforts over at The CW.

All told, operating cash hit $298 million, with $238 million in adjusted free cash flow. Naturally, they found $57 million to hand out to shareholders in dividends and paid down $409 million in debt.

So, with record revenues and money piling up in Irving, Texas, surely some of that cash is filtering down to the hard-working station staff in the form of actual raises and job security, right?

Don't hold your breath.

While top executives celebrate record-breaking quarters, the folks in the newsrooms doing the actual work will just have to settle for doing the jobs of three people after the next round of "synergies."