Nexstar Broadcasting: 4Q Revs Jump 31%

PerrySook

Nexstar Broadcasting touted some big revenue gains in its fourth-quarter 2010 results due to political advertising. Core advertising had only modest hikes.

 

The mid-size TV station group tallied $22.6 million dollars from political advertising, a 515% rise over the same period the year before. But core revenue from advertisers pulled in only a 3% gain to $63.3 million. Overall revenue grew 31% to $97.1 million during the period.

Perry Sook, chairman, president and chief executive officer of Nexstar, says automotive advertising performances -- like that of other TV station groups -- continued to offer stellar gains, some 16% higher in the period than the fourth quarter of 2009. Gross local ad revenues were up 7.1% to $47.1 million, with gross national spot ad revenues hitting a 7.7% decline to $16.1 million.

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Sook stated: "Nexstar's proactive strategies for building new-to-television local direct billings, as well as the overall advertising recovery, drove a fifth consecutive quarter of core television advertising revenue growth."

He noted that the company allotted much more inventory to political advertising during the period.

Growing retrans revenue continued to slow gains -- up 47.7% to $15.4 million. Nexstar says retrans revenues account for almost 16% of the company's revenue base.

Net income from operations was at $31 million, a 120% improvement.

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