Updated
The most significant concentration Newsmax discloses is limited number of distributors, classified MEDIUM by disclosed size. Below: the full set from the latest 10-K — verbatim quotes, filing references, and a synthesis of what these exposures mean together.
Model-generated analysis — not investment advice. Not a registered investment advisor. Past performance does not guarantee future results.
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Source: Newsmax’s SEC Form 10-K filed — view the filing on SEC EDGAR ↗
Each card carries a disclosed-size chip (HIGH / MEDIUM / LOW — how large the exposure is as a share of revenue, not how dangerous it is) and a nature tag: Built-in(the company’s own model, geography, or products) or Outside party (an external customer, supplier, or distributor it relies on).
“10-K Item 1A: 'Because Newsmax Media derives a significant portion of its revenues from a limited number of distributors, the failure to enter into or renew affiliation and carriage agreements on favorable terms'”
Newsmax's disclosed concentration risk centers on distribution rather than end-customer demand: the company states that Newsmax Media derives a significant portion of its revenue from a limited number of distributors, and that failing to enter into or renew affiliation and carriage agreements on favorable terms poses a risk to the business. This is best characterized as a dependency exposure — the company's revenue is contingent on maintaining commercial relationships with a small set of gatekeepers rather than on a diversified base of many independent customers or on structural factors like geography or a single product line. No specific percentage or dollar figure tied to this concentration is disclosed in the sourced claim, so the precise degree of reliance on any one distributor cannot be quantified from the filing text alone. The nature of the exposure — carriage and affiliation agreements that must be periodically renewed — makes it a recurring point of renegotiation risk rather than a one-time event, and because it is a moderate disclosed exposure, it is one to monitor at each renewal cycle rather than treat as an immediate threat to the business.
For the engine’s reasoning on NMAX’s current verdict — including which dimensions drove the score — see the per-dimension breakdown.
| Symbol | Name | HIGH | MEDIUM | LOW | Total |
|---|---|---|---|---|---|
| GTN | Gray Media, Inc. | 0 | 4 | 1 | 5 |
| GTN-A | Gray Media, Inc. | 0 | 3 | 1 | 4 |
| NMAX● | Newsmax, Inc. | 0 | 1 | 0 | 1 |
| NXST | Nexstar Media Group, Inc. | 0 | 1 | 0 | 1 |
| IHRT | iHeartMedia, Inc. | 0 | 0 | 0 | 0 |
| SBGI | Sinclair, Inc. | 0 | 0 | 0 | 0 |
Concentration counts reflect items disclosed in each peer’s most recent 10-K; disclosed-size classification uses TrendMatrix’s internal 10-K extraction taxonomy.